(MENAFN- EIN Presswire) EINPresswire/ -- The global liquid smoke industry generated $68.82 million in 2020, and is anticipated to generate $125.71 million by 2030, witnessing a CAGR of 5.9% from 2021 to 2030.

Expansion of the retail market and the F&B industry drive the growth of the global liquid smoke market. However, growth in notion of ill-effects of smoke flavors hinders the market growth to some extent. On the other hand, innovations in product offerings are presenting new opportunities in the coming years.

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Rise in exposure of people to different forms of social media has enhanced their knowledge about various trends shaping the food industry. The surge in popularity of culinary tourism along with rise in popularity of food themed social media pages, blogs, and videos have shaped the preference of people in food. As a result, more consumers are open to trying and adopting different types of food.

Liquid smoke is a water soluble substance used to add or maintain the taste of a food stuff. Liquid smoke is derived from burnt woods/chips of trees and is extensively used in seafood, meat, sauces, and dairy products to add flavor and color through different processes like spraying, dipping, and atomizing.

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The growth for liquid smoke market is attributed to rise in consumption of processed meat, and vegetables. Furthermore, changes in food consumption patterns among consumers all around the world drives the market growth. The rise in ease of acquiring food stuff combined with options of free home delivery and different promotional offers has led to the growth of global liquid smoke market. However, the surge in perception of smoked food being bad for health hinders the market growth and act as the major restraint for the liquid smoke market. Conversely, surge in adoption of smoked vegan food is expected to improve the odds associated with the liquid smoke market growth.

The liquid smoke market is segmented on the basis of type, application, distribution channel, and region. By type, the market is classified into hickory, mesquite, applewood, and others (oak & pecan). By application, the market is categorized into meat, seafood, sauces/marinades, bakery/confectionery, and others (cheese, & packaged dried fruits). By distribution channel, the market is divided into hypermarkets/supermarkets, convenience stores, e-commerce, and others (grocery stores, & departmental stores). By region, the market is studied across North America, Europe, Asia-Pacific and LAMEA.

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Based on region, Europe, followed by North America, held the highest market share in terms of revenue in 2020, accounting for more than one-third of the global liquid smoke market size. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.1% from 2021 to 2030. This is attributed to rise in income level, changing food consumption habits, and presence of large consumer base for the food products.

Leading Market Players:-

Azelis S.A.
B&G Foods Inc.
Colgin, Inc.
Kerry Group Plc
McCormick & Company Inc
Msk Ingredient Ltd
Ps Seasoning
Ruitenberg Ingredients B.V.
Smoked Flavours Pty Ltd
Urban Platter

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