by The Meat Glue Market is estimated to be valued at US$ 226.9 Mn or Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Meat glue, also known as transglutaminase, is an enzyme that binds proteins together. It is used to restructure or bind pieces of meat and seafood together to form varieties of meat products. It allows butchers and food manufacturers to amalgamate smaller, less valuable cuts of meat into larger presentations that resemble more expensive steaks and roasts. For instance, it can combine ground meats to form patties or coatings, reconstruct cuts, or fuse sliced or ground meats.
Market Dynamics:
One of the major driver for the growth of meat glue market is its ability to reduce food wastage by utilizing meat cuts that were previously considered inedible or not suitable for sale. For example, it binds small, scraps of meat that would otherwise be discarded. Additionally, it helps minimize production costs for food manufacturers by using less expensive meat cuts and pieces. Meat glue allows the manipulation of proteins to maximize value and profitability from animal carcasses. Furthermore, the growing demand for convenient and value-added meat products is also fueling the demand for meat glue in the market. However, lack of consumer awareness about meat glue and associated health concerns may hamper the market growth over the forecast period.
Segment Analysis:
Meat glue market is dominated by processed meat sub segment. Processed meat sub segment accounts for over 60% of the total meat glue market share globally. This is because meat glue is widely used for bonding processed meat slices and pieces to form products like meat loafs, burgers and other restructured meat products. The demand for processed meat is growing at a higher pace compared to whole cuts primarily due to hectic lifestyle and preference for convenience food among consumers globally.
PEST Analysis:
- Political: Fluctuations in regulations regarding use of meat glue in food processing across countries creates uncertainties. However, most regulatory bodies now allow its restricted use.
- Economic: Growth in disposable incomes is driving higher demand for value-added and convenience food products of which processed meats account for a major share thus supporting market growth.
- Social: Changing dietary patterns and preference for processed food contribute to market growth. However, some health concerns also limit market potential.
- Technological: Advancements in production technology help lower costs and improve efficiency of meat glue usage in food processing.
Key Takeaways:
The global meat glue market is expected to witness high growth, exhibiting CAGR of 3.6% over the forecast period, due to increasing demand for processed and convenience meat products. Growth in working population and dual income households is driving higher demand for ready-to-eat food options.
The Asia Pacific region is expected to be the fastest growing as well as the largest market for meat glue during the forecast period. China accounts for over 40% of the Asia Pacific meat glue market share due to large production and consumption of processed meat in the country. India is also emerging as a major market in the region.
Key players operating in the meat glue market are Ajinomoto Co., Inc., Modernist Pantry, LLC, Special Ingredients Ltd., Kinry Food Ingredients Co., Ltd., BDF Natural Ingredients, S.L., Micro-Tech Foods Ingredients Inc., Yiming Biological Products Co., Ltd., and Nanning Pangbo Biological Engineering Co., Ltd. These players are focused on development of advanced meat glue formulations and solutions to strengthen their market share.
