Global Liquid Smoke Market

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 2025-2032


Report ID: SQMIG15A2228 | Region: Global | Published Date: February, 2024
Pages: 260 | Tables: 94 | Figures: 66

Liquid Smoke Market Insights

Liquid Smoke Market size was valued at USD 108.83 Million in 2023 and is poised to grow from USD 115.25 Million in 2024 to USD 129.25 Million by 2032, growing at a CAGR of 5.9% during the forecast period (2025-2032).

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.

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FAQs

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).

The global liquid smoke market is fairly fragmented in nature due to the presence of several domestic and international players across the globe such as Kerry Group, Azelis Company, and Besmoke Ltd. Major key players are implementing on several business strategies for the expansion of their product portfolio and geographical presence like product innovations, technological advancements, partnerships, and collaboration. 'Azelis Holdings S.A.', 'B&G Foods Inc.', 'International Flavors and Fragrances Inc.', 'McCormick & Company Inc.', 'PS Seasoning', 'Baumer Foods Inc.', 'Kerry Group PLC', 'MSK Ingredients Limited', 'Colgin Inc.', 'Red Arrow International LLC'

Continuous growth in the demand and introduction to new liquid smoke flavors across the globe are the key factors driving the growth of the global liquid smoke market during the forecast period. In the recent years, customers are getting more familiar with liquid smoke products in the processed food products that are creating lucrative growth opportunities for these products in restaurants and hotels also for preparing unique drinks as well as food products.

With the changing lifestyles, consumer preferences, and increasing popularity of healthier food rather than oily foods, many consumers are shifting for traditional methods of cooking as well, like roasting, grill, etc., due to their believe that the traditional method is more healthy and imparts a rich aroma with a woody flavor to the final consumer products. As a result, the demand of liquid smoke products is expected to have a boom in the demand in the next few years.

North America dominated the global liquid smoke market with a contribution of over 37% of revenue share in 2021. Increasing demand for the smoky flavoured meat products, diary products, sauces, and pet foods because of the rising disposal income, changing in lifestyles, and new product launches are the major factors projected to drive the growth of the market in the region throughout the forecast period. Red Arrow International and Colgin are few major players and producers of liquid smoke in the region. In addition, North America has a total of around 40 processed meat plants that use liquid smoke in a very large quantity and it makes the region largest producer and consumer of these products across the globe.

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Global Liquid Smoke Market

Report ID: SQMIG15A2228

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