by The global Meat Glue Market is estimated to be valued at US$ 226.9 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 protein that binds meat and seafood pieces together. It has widespread applications in processed meat products where binding different meat pieces together gives a uniform appearance. The meat glue binds to proteins on meat surfaces, combining them into a cohesive gel. This allows meat processors to reform primal cuts into value-added restructured or formed products. Rising demand for processed and value-added meat products is driving the growth of the meat glue market.
Market Key Trends:
One of the major trends in the meat glue market is growing preference for healthier meat products with minimum processing. Consumers are increasingly seeking products with cleaner labels and fewer ingredients. This has prompted meat processors to explore alternatives to meat glue and limit its use only where necessary. Protein glue from plants including soy and wheat is gaining traction as a healthier option. Ongoing research is also evaluating newer binding technologies that use natural ingredients to bind meat without using added enzymes. However, meat glue still remains popular in mass-produced commercial meat products due to its cost effectiveness. Stringent scrutiny and labeling of products containing meat glue is also a noteworthy industry trend.
Porter’s Analysis:
- Threat of new entrants: The threat of new entrants is low as the meat glue market requires significant R&D investments and regulations by food safety authorities create entry barriers.
- Bargaining power of buyers: The bargaining power of buyers is high as meat glue is used as an ingredient by food processors. Buyers can substitute it with other binding agents based on price.
- Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are multiple suppliers for meat glue. However, suppliers differentiate their products based on effectiveness, purity, and composition.
- Threat of new substitutes: The threat of new substitutes is moderate. While other binding agents can be used, none are as effective as meat glue for binding meat pieces together.
- Competitive rivalry: The competitive rivalry is high among the existing players to capture more market share by developing innovative product formulations and offerings.
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 meat products. Stringent regulations regarding the use of MTGase in processed meat is challenging growth.
Regionally, North America accounts for the largest share in the global meat glue market led by the U.S. followed by Europe. Asia Pacific is projected to be the fastest growing market for meat glue. Increasing meat consumption in countries like China and India is driving market growth.
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. Companies are investing in R&D to develop organic and non-GMO formulations of meat glue.
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