The market expansion of liquid smoke is primarily being driven by growth in the processed food sector. The processed food market is anticipated to increase from US$ 322 billion in 2016 to US$ 543 billion by 2020, at a CAGR of 14.6%. Fruits and vegetables, dairy, fisheries, poultry and meat processing, food retail, etc. are all part of the food processing business. Consequently, the market expansion is being driven by the expanding processed food industry.
It is anticipated that rising demand for meat products in the US will propel the market expansion for liquid smoke. The meat and poultry industries are the largest sector of American agriculture, according to the North American Meat Institute.
By the end of 2027, the global Liquid Smoke Market is anticipated to generate more than US$ 160 million in revenue, rising at a CAGR of 8.1% from 2019 to 2027.
Key Companies in the Liquid Smoke Industry:
1. Azelis: Azelis Group NV offers innovative services to the food ingredients and specialty chemicals sectors. The business operates in two distinct business segments: life sciences and industrial chemicals. The company is geographically present throughout the Americas, Asia Pacific, and EMEA. Created in 2001. Headquarters at Belgium's Berchem. The acquisition of Quimdis by Azelis, a top provider of worldwide innovation services to the specialty chemical and food ingredients industries, has been successfully completed.
2. Red Arrow International LLC: Manufacturer of food flavourings with smoke. For the corporate food and meat industries, the company manufactures flavour enhancers, browning agents, and non-contact grill marking machines. Built in 1956. United States headquarters. Peter Chernin establishes the global content studio North Road, invests $200 million in the U.S. assets of Red Arrow Studios, and plans more significant acquisitions with multi-billion dollar sums.
3. Redbrook Ingredient Services Ltd: Developer and creator of savoury flavourings. The company creates marinades, glazes, cures, functional mixes and speciality ingredients for food processors. Created in 1992. Head office in Ireland. Redbrook Ingredients Services, an Irish provider of ingredients, will be purchased by Israeli chemicals company Frutarom Industries for about €40 million ($44.8 million).
4. Kerry, Inc.: Irish-based Kerry Group plc is a publicly traded food business. It is traded on the London Stock Exchange and the Dublin ISEQ. Built in 1972. The most recent purchases are Niacet (June 2021) and Natreon (Apr 2022).
5. Ruitenberg Ingredients: Creator and supplier of top-notch ideas and tools for the food sector. Offering clients and organisations high-quality food ingredient solutions, the company's offerings include (savoury) fillings, dough concepts, egg substitutes, alginate applications, such as the VegaCasing technology, structured plant proteins (Rudin ProVega), liquid smoke, and ingredients for liquorice and confectionery. Built in 1938. head office in the Netherlands.
6. B&G Foods, Inc. (Wrights): An American manufacturer of packaged foods is B&G Foods Inc. The business offers its goods for sale in Puerto Rico, Canada, and the United States. Created in 1996. B&G Foods, a manufacturer of packaged foods, stated in its first quarter 2021 financial report that sales had increased significantly year over year by a whopping 12.4%.
7. Baumer Foods, Inc: Hospital and medical equipment solutions are created by Baumer SA. Orthopaedic Implants, Biomaterials, Sterilisation, Infection Control, Surgical Centres, Water Treatment, and Solid Remains Health Treatment Divisions are just a few of its different divisions. Built in 1952. Brazilian headquarters.
Definition: Liquid smoke is a flavoring agent made by burning wood chips, capturing the smoke, and then condensing it in a liquid substance.
