United States – March 16, 2022 —
As per the MRFR reports, the global market for meat tenderizing agents is anticipated to grow at a healthy CAGR of over 4.2% during the review timeframe. Furthermore, the report suggests that the market will attain a valuation of over USD 2.6 Billion by the end of 2024.
Meat tenderizing agents contain chemicals that can soften meat foods by decaying the collagen in the flesh. The softness of the flesh is the vital aspect to determine the quality of meat that influences the cost of the meat. Acids, salts, and enzymes are the most common meat tenderizing agents. The global market for meat tenderizing agents has recorded praiseworthy growth in recent years. The upsurge in the market’s growth is primarily being driven by the growing consumption of processed or frozen meats. Furthermore, the altering consumer behaviors and rising per capita expendable income are also likely to boost the market’s growth over the forecasted era. On the other hand, the widespread negative perception among the global population is projected to impede the growth of the meat tenderizing agents market.
Segment Analysis
The global meat tenderizing agent market has been fragmented into various segments based on type, source, form, and region.
The global market for meat tenderizing agents is divided into liquid and dry based on form.
The global meat tenderizing agents market is split into microorganisms, plants, and others based on the source.
Based on type, the meat tenderizing agents market is bifurcated into bromelain, papain, salts & acids, protease, enzymes, and others.
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Regional Analysis
The global market for meat tenderizing agents is analyzed across five major regions, including Asia-Pacific, Europe, North America, South America, and the Middle East & Africa.
As per the MRFR research reports, the North American region will likely lead the global market for meat tenderizing agents. The regional market’s growth is being driven by the growing increasing meat consumption across the region. Furthermore, the increasing demand for processed meats is also projected to catalyze the regional market’s growth over the forecasted era.
The European region is projected to attain the second position across the globe. The regional market is likely to register substantial growth over the review timeframe.
The meat tenderizing agents’ market for the Asia-Pacific region will record the fastest growth over the review timeframe. The regional market’s growth is being driven by the developing food processing sector, rising per capita incomes, and growing demand for meats.
Competitive Analysis
The global market for meat tenderizing agents has a strong and competitive landscape. The players in the global market are contributing to raising the market concentration. The companies contribute to the market profits by adopting several market trends such as procurements, company expansions, product launches, and joint ventures. The list of prominent leaders in the global market for meat tenderizing agents includes Enzyme Solutions (US), Enzyme Development Corporation (US), The Basque Company (US), Enzybel Group (Belgium), Tampico Spice Co. Inc. (US), AB Enzymes GmbH (Germany), Specialty Enzymes & Probiotics (China), Amano Enzyme Inc. (China), Enzyme Bioscience Private Limited (India), McCormick & Company Inc. (US), and many others.
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Recent Developments
· October 2021 – A global leader in meat tenderizing agents, McCormick & Company Inc, has announced the opening of the latest multi-purpose, environmentally friendly, advanced head office in Mentone. The latest facility is currently under construction and is on schedule to offer much-needed support to production in Melbourne, Australia, in early 2022.
The latest multi-million-dollar complex will be the company’s new Australian head office that will integrate an advanced Technical Innovation Centre, a Logistics Centre, and new Corporate Offices. The world-class facility will cater as McCormick Australia’s innovation and cooperation hub for customers and employees.
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