The global liquid smoke market revenue was US$ 72953.02 thousand in 2021. The global liquid smoke market revenue is forecast to reach US$ 125,718.5 thousand by 2030, growing at a compound annual growth rate (CAGR) of 6% during the forecast period from 2022 to 2030.

The liquid smoke is a water-soluble substance that adds or maintains food taste. Liquid smoke is made from burnt woods/chips of trees and is extensively used to flavor and color seafood, meat, sauces, and dairy products through various processes such as spraying, dipping, and atomizing.

Factors Influencing Market Growth

Factors such as growth in processed meat and vegetable consumption drive the global liquid smoke market growth.
The pandemic has caused people worldwide to experiment with new food and flavors, which has resulted in a growth of the liquid smoke market.
Food purchases have become convenient, and there are now options for free home delivery and different marketing incentives leading to the growth of the global liquid smoke market.
The perception that smoked food is unhealthy may negatively impact the liquid smoke market growth.
In the coming years, the adoption of vegan smoked food will improve the odds of growth for the global liquid smoke industry.
Impact Analysis of COVID-19

The COVID-19 outbreak has negatively impacted the global liquid smoke market. Globally, governments have announced partial and complete lockdowns in order to control the spread of the COVID-19 virus. Consequently, hotel and restaurant closures decreased the demand for liquid smoke. Also, the disruption of the supply chain affected the product's supply. In addition, due to non-availability of raw materials and lack of labor and severely affected the production chain of the global liquid smoke market.

Regional Insights

Europe holds a substantial share in the industry and is forecast to register a highest CAGR during the forecast period. Due to the rising revenues of this industry, manufacturers are investing in R&D to boost the liquid smoke market's growth. The high spending power in this region also contributes to the market's growth. Consumers have shifted their preferences towards these products over the past few years. Smoky flavors are exact replicas of real smoke obtained by smoking wood and can therefore hold a variety of uses.

During the forecast period, Asia Pacific is forecast to grow at the fastest rate in the liquid smoke market. The rise in purchasing power, developing economies, and using liquid smoke in numerous meat products and other recipes should drive the market in this region. In addition, the presence of companies like Kerry, Azelis, and Besmoke is driving the liquid smoke market growth.

Leading Competitors

The leading prominent companies profiled in the global liquid smoke market are:

Azelis S.A.
B&G Foods, Incorporated
Colgin, Incorporated
Kerry Group, Plc
McCormick & Company, Incorporated
Msk Ingredient Limited
Ps Seasoning
Ruitenberg Ingredients B.V.
Smoked Flavours Pty Limited
Urban Platter
Other Prominent Players
Scope of the Report

The global liquid smoke market segmentation focuses on Type, Application, Distribution Channel, and Region.

Segmentation based on Type

Hickory
Mesquite
Applewood
Others
Segmentation based on Application

Meat
Seafood, Sauces
Marinades
Bakery/Confectionery
Others
Segmentation based on Distribution Channel

Hypermarkets/Supermarkets
Convenience Stores
E-Commerce
Others
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America