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The Meat Extract market was valued at $15,421.7 Million in 2022, and is projected to reach $24,738.2 Million by 2032 growing at a CAGR of 4.89% from 2023 to 2032.Meat extract is a concentrated form of meat that is used as an ingredient in a variety of dishes, including soups, stews, sauces, and gravies. The demand for meat extract has increased in recent years due to several factors, including a growing population, an increase in disposable income, and a shift towards convenience foods. One of the major drivers of the meat extract market is the increasing demand for protein-rich foods, as consumers are becoming more health-conscious and seeking out protein sources to support their active lifestyles. In addition, the growing popularity of plant-based proteins has led to the development of meat extract products made from alternative sources, such as soy and pea protein, which are driving growth in the market. Another factor contributing to the growth of the meat extract market is the increasing trend towards convenience foods. Consumers are increasingly seeking out easy-to-prepare and ready-to-eat products, and meat extract is an ingredient in a variety of these products, including instant noodles, soups, and frozen meals. There are several companies that are leading the meat extract market, including Knorr, Maggi, and Bovril. These companies have a strong presence in the market and are constantly innovating and introducing new products to meet the changing needs and preferences of consumers. For example, Knorr has introduced a range of meat extract products made from plant-based proteins, while Maggi has developed a range of instant noodles and soups that contain meat extract. Overall, the meat extract market is expected to continue to grow in the coming years due to increasing demand for protein-rich foods and convenience foods, as well as the development of innovative products by leading companies.