Beyond vast use in the processed food segment, beef extract powder is used in laboratory environments too. Beef extract powder is used for the examination of bacteria in milk, water, and other substances, where homogenous composition of the medium is important. For example, beef extract finds use for biochemical studies, especially fermentation reactions, as it is unaffected by fermentable substances. For such use, beef extract powder is prepared and standardized concentrations are used in microbiological culture media. The key use of beef extract powder lies in replacing infusion meat for such medium.
Beef products find other uses too. Beef extract is used to gauge the parameters of endurance and fatigue in the sports nutrition space. A research carried out on mice in Taiwan validates the use of beef extract in place of commonly-used whey protein for such findings. Further, the amount of beef extract administered was found to be correlated with improvement, wherein, a higher dose resulted in better improvement of endurance. Longer duration of performance of mice that were administered with beef extract in a forced swimming test was an observation too. Besides this, beef extract serves to be a marker to gauge fatigue. Experiments on mice that were administered beef extract resulted in significant reduction in lactate and blood urea levels, the latter being indicators of fatigue.
Nonetheless, results obtained from experiments conducted on mice for the potential use of beef extract are not straightforward to be translated to humans. This requires further research before any sort of conclusions are made. Gauging imminent opportunities from expanded use beef extract, Transparency Market Research (TMR) released a market study publication on the beef extract market. Along with useful insights, the TMR report presents valuable CAGR projections for the overall market. According to findings of TMR, the beef extract market is predicted to expand at a notable CAGR of ~7% during the forecast period of 2019 to 2029.
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Beef Extract Market – Key Trends
Food Processing End-use to Continue to Remain at Forefront
Vis-à-vis revenue, the food processing industry is anticipated to hold the maximum share in the beef extract market by the end of the forecast period. Beef extract finds wide use for culinary needs, as it imparts vibrant aroma to cooked food. This helps in enhancing the flavor and aroma of some cooked foods.
Composition-wise, beef extract comprises organic acids, nucleotides, peptides and amino acids, and vitamins and some minerals. Beef extract is obtained by the infusion of beef, which keeps that nutrients intact that are lost during the cooking of beef.
Favorable Physicochemical Properties Stimulate Demand for Animal Food and Feed Products
The demand for beef extract from food and feed products also serves to impel the growth of the food processing segment in the beef extract market. Beef extract displays strong peroxide forming capability, thereby leading to its wide use for food and feed products. Besides this, the high concentration of myoglobin and haem in beef extract helps in the formation of peroxides for animal food and feed products. High concentration of nutrients in beef extract helps amplify the nutritional content of food and feed products. This further fuels the growth of the food processing end-use segment of the beef extract market.
The food processing end-use gains from other uses of beef extract as well. For fresh food preparations, beef extract is used in soups, sauces, sausages, meat dishes, casseroles, and seasonings for flavor and aroma. Beef extract is also used as a taste enhancer and food additive in processed food products. Besides this, beef extract serves the religious sentiments of some communities, with halal and kosher certifications. This accounts for its wide use in foods in these communities that are rooted in European and Arab countries.
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Beef Extract Market – Winning Imperatives
Scope of Expansion of Applications Opens Growth Avenues
The scope of expansion of the application base of beef extract is the focus of keen players in market. Savvy players in the beef extract market are vying to expand the applications of beef extract beyond its common use in the food processing industry. Meanwhile, the increasing use of beef extract in animal feed for flavor is providing new opportunities for players in the beef extract market.
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Apart from this, the expanded use of beef extract in dietary supplements is also the focus of keen players in the beef extract market. Pharmaceutical companies and manufacturers of dietary supplements are increasingly using beef extract due to its nutrient content. The availability of beef extract in a few forms such as liquid and powder allows its use for capsules and suspended solutions in dietary supplements. Besides this, players in the beef extract market are vying for its use in beverages. Beverages fortified with beef extract are gaining demand, as it boosts the nutrient value of regular bottled beverages. Beef extract also finds use as a flavoring agent in broths and beverages. Beef extract is mostly used by some ethnic communities in Latin America and Africa. Manufacturers of beef extract are striving to serve the taste and flavor preferences of individuals in these communities for beverages.
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Beef Extract Market- Competitive Landscape
Competition-wise, the beef extract market bears a considerably fragmented vendor landscape. Leading players in the beef extract market are based in the Americas and Europe, which display maximum demand for the product. Vast demand for protein-rich food, along with the emergence of a vast health-conscious population, are some opportunities savvy players in the beef extract market are capitalizing on. Key players present in these regions are also serving kosher and halal foods, which translates into growth for them.
Leading global players are increasingly tapping opportunities in the emerging economies of Asia Pacific. Vast global travel and changing eating habits of individuals in developing economies such as India are stoking the demand for non-conventional food products, including beef extract. Discerning urban consumers in India are leaving behind former sentiments related to food and adopting new foods for taste and flavor. Savvy players are increasingly retailing via supermarkets and hypermarkets that have emerged as popular retail channels for food in developing economies.
Increased Usage of Beef Extract in Food Processing to Drive Market Growth
- According to Asia Research and Engagement (ARE), countries such as Pakistan, Vietnam, and Thailand are prominent beef consuming countries in the Asia Pacific region, which boosts the demand for beef extract in the food processing industry.
- Due to the rapid and recent spread of diseases in pork meat and poultry, the demand for beef extract has increased in the region.
- Moreover, according to Animal Health Welfare, and Biosecurity, chemical compounds such as heterocyclic amines are formed in pork when it’s cooked at high temperature, which might cause cancer; hence, the consumption of beef is preferred as compared to that of pork. Pork also consists of saturated fat, which when consumed, adds a significant risk factor for heart diseases or cardiovascular diseases.
- In the global beef extract market, Brazil and other Latin American countries hold significant shares, followed by the U.S., owing to the increasing demand for beef extract in the region.
- The increasing usage of beef extract in the food processing industry, such as stuffing cubes, nuggets, stock powder, and bouillon cubes, directly boosts the beef extract market in Asia Pacific countries.
Surging Demand for High Nutritional Content
- The rising awareness of consumers towards their health, around the globe, is expected to drive the demand for nutritious products, which, in turn, is expected to boost the beef extract market.
- Beef extract consists of abundant amounts of amino acids and other nutrients that are generally required for the proper and healthy growth of the body. It also contains vitamin B12 and vitamin B6, which are necessary for blood formation and the nervous system.
- Manufacturers such as Pt Foodex Inti Ingredients Kanegrade Ltd, A. Costantino & C. S.P.A, Abbexa Ltd, and Alpha Biosciences, Inc., who are operating in the beef extract market, are also showing keen interest due to its high notorious content and associated benefits.
- According to the Meat & Livestock Australia, the consumption of beef extract has increased by millennials, due to its nutritional benefits. Increasing awareness of consumer towards nutritional products is a significant reason for the expected increase in demand for beef extract during the forecast period.
Increasing Poultry and Livestock Products in MEA Countries
- The consumption of poultry and livestock products is high in MEA countries. Most of the population in these countries are meat-eaters; hence, they consume poultry and livestock products on a large scale.
- Manufacturers such as Neogen Corporation, NH Foods Australia Pty Ltd, and Ottogi New Zealand Ltd. are also using livestock and poultry products to enhance the flavor and fragrance in the food processing industry, such as in soups, sauces, nuggets, snacks, ready-to-eat meals, and others.
- According to the Organization for Economic Co-operation and Development (OCED) FAO, the consumption of poultry meat was ~2,114 tons in Iran in 2018.
Increasing Vegan Population across the Globe
- The gradual increasing vegan population is the primary cause that restraints the beef extract market.
- In 2012, ~25% of the global population was accounted as vegan. In addition, most of the consumers are consuming products that are naturally extracted from plants, since plant-derived products are rich in nutrition and protein as most meat extract products.
Increasing Consumer Awareness Regarding Claims
- Halal and kosher food is mostly preferred by consumers. According to the Muslims in Dietetics and Nutrition, halal and kosher meat is healthy because the blood is entirely drained out from the animal’s body. The certification of halal and kosher boosts the demand for beef products in the global market, as well as provide, better assurance to consumers. It also magnifies a company’s reputation of being able to meet varied customer needs and offers potential growth in revenue.
- Furthermore, the beef extract market is also expanding due to the high protein and low fat content in beef, thus, pushing manufacturers to include beef extract powder in the food processing industry, such as in stuffing cubes, nuggets, stock powder, bouillon cubes, seasoning, coatings, soup powders, sauces, ready meals, snacks, and other liquid products.
- Manufacturers use beef extract in various new applications such as in sports nutrition, as beef extract reduces fatigue and contains a high amount of proteins.
- With increasing beef extract manufacturers around the globe, it can be anticipated that the demand for and revenue of the beef extract market will increase over the forecast period.
Global Beef Extract Market: Key Players
A few key players operating their business in the global beef extract market are –
- Pt Foodex Inti Ingredients Kanegrade Ltd
- A. Costantino & C. S.P.A
- Abbexa Ltd
- Alpha Biosciences, Inc.
- BD Biosciences
- Bio Basic Inc.
- Carnad A/S
- Colin Ingrédients
- Hardy Diagnostics
- HiMedia Laboratories
- JBS Global (UK) Ltd
- Maverick Biosciences Pty Ltd
- MP Biomedicals
- Neogen Corporation
- NH Foods Australia Pty Ltd
- Ottogi New Zealand Ltd, among others.