MEAT GLUE MARKET ANALYSIS

Meat Glue MarketSize and Trends

Market Dynamics

Rising meat consumption is expected to be one of the major factors driving growth of the global meat glue market. According to Food and Agriculture Organization (FAO) and Organization for Economic Co-operation and Development (OECD) Agricultural Outlook, global per capita annual meat consumption is projected to reach 35.3 kg r.w.e. (retail weight equivalent) by 2025, an increase of 1.3 kg r.w.e. as compared to the base period of 2013 to 2015. Furthermore, meat glue is used in innovative food applications such as meat noodles and novel meat combinations such as scallops and lamb or beef and bacon, especially in restaurants and food service sector. Increasing growth of the restaurant industry is propelling growth of the global meat glue market. According to National Restaurant Association, restaurant industry sales in 2010 was US$ 586.7 billion, which increased to US$ 799 billion in 2017 in the U.S. Moreover, growing fish consumption is fuelling growth of the global meat glue market, as it finds applications in making uniform portions of fish filet. According to the Food and Agriculture Organization of the United Nations, global fish consumption is expected to increase by 19% by 2026 as compared to base period of 2014 to 2016. Rise in consumption of processed food is supporting growth of the global meat glue market as meat glue improves water retention, mouth feel, and appearance of processed meats. According to Coherent Market Insights’ study, global frozen processed food market was valued at US$ 60.12 billion in 2016 and is anticipated to reach US$ 85.49 billion by 2025. Moreover, frozen processed poultry segment accounted for highest market share of 19.16% in 2016 thereby increasing demand for the meat glue market.

Market Outlook

• Meat glue market in Asia Pacific is witnessing rapid growth, owing to increasing meat consumption. According to Food and Agriculture Organization (FAO) and Organization for Economic Co-operation and Development (OECD) Agricultural Outlook, meat consumption was highest in 2016 in China. Furthermore, China is expected to retain its dominance in meat consumption between 2017 and 2026. Moreover, growing food processing industry is supporting growth of the meat industry in Asia Pacific, which is projected to propel growth of the meat glue market. According to India Brand Equity Foundation, Department of Commerce, Government of India, the food processing industry in India is projected to reach US$ 482 billion by 2020 from US$ 258 billion in in 2015.
• North America held significant market share in 2017 in the global meat glue market. Furthermore, the U.S. held largest market share in the North America meat glue market in 2017. This is owing to approval and initiatives of regulatory bodies and institutes regarding safety of meat glue. For instance, the American Meat Institute, a trade association of packers and processors of pork, lamb, beef, veal and turkey, has certified that meat glue is safe and natural. Also, the U.S. Food and Drug Administration has certified meat glue as generally recognized as safe (GRAS). Moreover, the U.S. Department of Agriculture has determined that meat transglutaminase is suitable and safe for use in meat products. According to Coherent Market Insights’ study, North America held highest share market share in terms of volume and revenue in frozen processed food market and had highest demand for frozen poultry products in 2016. This is fuelling growth of the global meat glue market as it finds applications as a binding agent in processed meat products.