Liquid Smoke Market Size, Share, Growth Analysis, By Application(Meat Products, Sauces, Dairy Products, Pet Food), By Distribution Channel(Hypermarkets, Convenience Stores, E-Commerce, and others), By Product(Hickory, Mesquite, Applewood, Others), By Region - Industry Forecast 2024-2031

Liquid Smoke Market size was valued at USD 72.86 million in 2019 and is poised to grow from USD 108.83 million in 2023 to USD 122.05 million by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031).

Rising awareness among people regarding liquid smoke that smoke products helps to improve the shelf life of food products without roasting or grilling, and also enhance their flavor, is key factor expected to drive the global liquid smoke market over the forecast period. Additionally, the rising purchasing power of people in the developing countries like India and China is also empowering the consumers to increase the spending on the liquid smoke products, resulted a positive impact on the growth of the market.

In the recent years, major processed food manufacturing companies across the globe are increasing expenditure on the incorporation of liquid smoke as a functional ingredient in the production of meat, poultry products, sauces, crackers, bread, and seasonings. As a result, the global demand for liquid smoke have increased in the last few years and expected to grow similarly in the near future. For instance, in May 2021, PS Seasoning introduced new BBQ sauces into the line of gourmet grilling sauces and marinades. These sauces are totally inspired by trending and regional flavours including, cheery, peach whiskey, and tangy Memphis.

The high quality of these liquid smoke products to bring smoky taste and aroma also in various types of recipes are making them a great choice for enhancing food products especially in the developed countries like Germany, United States, and U.K. Furthermore, advancements in technology and rapid growth in innovation to create more healthy and cost-effective products around the world is likely to have a positive impact on the global liquid smoke market over the forecast period.

US Liquid Smoke Market is poised to grow at a sustainable CAGR for the next forecast year.