Global liquid smoke market was valued at US$ 108.6 Mn in 2022, exhibiting a CAGR of 9.7% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 228.6 Mn by 2030. Liquid smoke is majorly used across food such as marinades, barbecue sauces, and "barbecue" flavored foods. It is taste like smoke and there are different type of smoke flavors are also available which includes mesquite, hickory, and pecan. Moreover, it is also used as a substitute for bacon food that uses cured pork for obtaining smoky taste.
Global Liquid Smoke Market- Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 impact has had a mixed impact on various industries, including the food and beverages sector. Regarding the global liquid smoke market some are the factors that are impacted by the pandemic such as changes in consumer behavior, the pandemic has alerted consumer preferences and behaviors. With lockdowns and restrictions on dining out, there has been a shift towards home cooking and increased consumption of processed and convenience foods. This trend could drive the demand for liquid smoke as it is commonly used in processed meats, sauces, and seasonings to provide a smoky flavor. Moreover, another negative factor is impact on foodservice industry. The foodservice sector, including restaurants, hotels and catering services, has been significantly impacted by the pandemic. Many establishments experienced closures or reduced operations, leading to decreased demand for liquid smoke in foodservice applications. However, as the industry gradually recovers, the demand is expected to rebound.
Figure 1. Global Liquid Smoke Market, By Applcation, 2022
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Global Liquid Smoke Market - Drivers
Growth in the processed food industry is primarily fueling the market growth of liquid smoke. According to the Invest India, the Indian processed food market is expected to grow from US$ 263 billion in 2019-20 to US$ 470 billion by 2025, professional services firm Food processing industry includes Fruits & Vegetables, Dairy, Fisheries, Poultry & Meat processing, Food retail, and so on. Therefore, the growing processed food industry is propelling the market growth.
Liquid smoke is also used in dairy products such as cheese to give it a natural smoky flavor rather than actually smoking the cheese. These liquids have been applied in pet food and the main concern of pet owners is to provide the best nutritional support for their pets, increasing the demand for liquid smoke. The demand for aqueous smoke solutions is increasing due to their use in complex food processing such as oil extraction, food applications, and food ingredients such as yeast, malt flour and salt.
Liquid Smoke Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2022: | US$ 108.6 Mn |
Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 9.7% | 2030 Value Projection: | US$ 228.6 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Azelis, Besmoke, FRUTAROM Savory Solutions GmbH, Red Arrow International LLC, Redbrook Ingredient Services Ltd, MSK Specialist Ingredients, Kerry, Inc., Ruitenberg Ingredients, B&G Foods, Inc. (Wrights), and Baumer Foods, Inc. |
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Growth Drivers: |
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Restraints & Challenges: |
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Increasing demand for meat products in the U.S. country is expected to fuel the market growth of liquid smoke. According to the North American Meat Institute, in 2022, the meat and poultry industry is the largest segment of U.S. agriculture. The meat production in the country was totaled 62 billion pounds in 2022 and poultry production was totaled 59.4 billion pounds in 2022. Therefore, the growing demand for meat products is expected to augment the market growth by forecast period.
Global Liquid Smoke Market - Restraints
Lack of awareness regarding liquid smoke products among consumers of developing countries is projected to hamper the market growth of liquid smoke. Moreover, few people are allergic to smoked products which are further expected to restrict the adoption of liquid smoke. This, in turn, hindering market growth over the forecast period. Moreover, still few processed meat manufacturers prefer the conventional method of smoking meat products since it provides a strong flavor to meat products such as beef and pork. Moreover, the conventional method of smoking meat also provides a distinct texture. This factor is expected to limit the adoption of liquid smoke which in turn is hindering the market growth.
On the basis of application, meat and seafood dominated the global liquid smoke market in 2022 with around 79.20% of market share in terms of revenue, followed sauces and pet food & treats, respectively. Liquid smoke is widely used in various food products, including processed meats (such as sausages, bacon, and deli meats), sauces, marinades, snack foods, cheeses, and seafood products. Liquid smoke helps enhance the taste and aroma of these products by providing a natural smoky flavor
Figure 2. Global Liquid Smoke Market, By Region, 2022
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Global Liquid Smoke Market - Opportunities
Rising adoption of liquid smoke equipment among major players in order to reduce the overall cost production is expected to offer enormous growth opportunity to the market of liquid smoke. The use of advanced equipment favor has less impact on the environment and is also cost-effective as compared to traditional smoking methods. Hence, this is expected to fuel market growth over the forecast timeframe.
Rising adoption of liquid smoke in various cheese products will favor market growth over the forecast period. Various manufacturers of dairy products are using liquid flavor in cheese product such as provolone, mozzarella, and scamorza, for expanding their range of smoked cheese products. For instance, in November 2018, Norseland introduced Applewood Vegan smoked cheese. Norseland, Incorporated was founded in 1978. The Company's line of business includes the wholesale distribution of dairy products.
Global Liquid Smoke Market - Trends
The rising trend of using liquid smoke in pet treat products is expected to augment the market growth of liquid smoke over the forecast period. For instance, in August 2018, Omaha Steaks, a retailer of steaks, seafood has introduced a new line of premium dog treats in response to the increasing demand for dog treats. This trend is expected to fuel the market growth of liquid smoke over the forecast period.
Shifting preferences of consumers for liquid smoke in hot dogs is projected to accelerate the market growth of liquid smoke in the near future. For instance, in July 2019, Nolan Ryan Beef has announced that it has launched uncured beef franks, to expand its hot dog and frank portfolio. Hence, using liquid smoke in hot dogs is gaining popularity among consumer and this will favor the market growth. Nolan Ryan Beef branded products are available throughout Texas at all Kroger supermarkets as well as several foodservice establishments nationwide. The company's product offerings include Nolan Ryan Angus Beef, Nolan Ryan 34 Prime Beef and Nolan Ryan Signature products.
Global Liquid Smoke Market - Regional Insights
Europe was the largest market, in terms of revenue generation accounting 45.30%. The liquid smoke market in Europe is influenced by factors like the rising consumer awareness regarding natural and clean labelled food ingredients, the demand for unique flavors in food products, and the presence of a robust food processing industry. Countries such as Germany, the U.K., and France may have a substantial market share in this region.
Global Liquid Smoke Market - Recent Developments
Global Liquid Smoke Market - Key Players
Key players operating in the global liquid smoke market are Azelis, Besmoke, FRUTAROM Savory Solutions GmbH, Red Arrow International LLC, Redbrook Ingredient Services Ltd, MSK Specialist Ingredients, Kerry, Inc., Ruitenberg Ingredients, B&G Foods, Inc. (Wrights), and Baumer Foods, Inc.
*Definition: Liquid smoke is a natural byproduct of burning wood. The exhaust of a wood fire is basically smoke and steam; fire produces water in the form of vapor, and this vapor, condensed through a cooled tubing, and captures the smoke. This liquid is distilled into a concentrate and filtered of its impurities (soot and ash). What is left is a yellowish-brown substance that is liquid smoke. Most brands of liquid smoke are inexpensive.
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About Author
Sakshi Suryawanshi is a Research Consultant with 6 years of extensive experience in market research and consulting. She is proficient in market estimation, competitive analysis, and patent analysis. Sakshi excels in identifying market trends and evaluating competitive landscapes to provide actionable insights that drive strategic decision-making. Her expertise helps businesses navigate complex market dynamics and achieve their objectives effectively.
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