As per a new research study by Transparency Market Research (TMR), the global market for meat paste is registering a remarkable growth. The research report, titled “Meat paste Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” assesses the key forces driving the growth, barriers, prominent trends, market potentials, opportunities, and the challenges to identify the performance and the future prospects of this market.
As per the research report, the increasing usage of meat paste in a variety of food products as a flavoring agent, source of protein, and taste enhancer is boosting the global market for meat paste significantly. The continual rise in health-conscious population is likely to support this market over the next few years, states the research report.
The global market for meat paste can be majorly evaluated on the basis of the raw material, end-use, and the geography. Based on the raw material, the market can be divided into dried beef, chicken, and Korean pheasant. Among these, the demand for meat paste of dried beef and chicken is relatively higher and the trend is anticipated to continue over the forthcoming years. Based on the end use, the market can be classified into animal feed and human consumption. Among the two, the demand for meat paste is much higher for human consumption. Researchers anticipate the scenario to remain so in the near future, notes the market study.
In terms of the geography, the global market for meat paste can be bifurcated into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. Asia Pacific, among these, has acquired the leading position in the global market and is anticipated to remain doing so over the next few years. Australia has surfaced as the key domestic market for meat paste in Asia Pacific. North America and Europe are also projected to report a steady rise in their respective markets for meat paste in the years to come, reports the research study.
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A comprehensive assessment of the global market for meat paste has also been presented in this research study. Researchers have carried out a thorough assessment of the prominent vendors of meat paste across the world, such as Vision Mark Biotech, Unilever, Asmi International Private Ltd., Tesco, Jardox Ltd., and Sainsbury’s. The focus of these players is likely to incline towards strategic alliances in the near future as they are looking to expand their presence across various regions. The competition among players is also projected to intensify over the forecast period, thanks to the rising number of participants in this market, states the research report.