The trend of adopting a healthy lifestyle resulted in demand for healthy food products is driving the global broth market.
Covid-19 Impact & Market Status
The disruption of global supply chains caused by the closure of numerous plants and factories in various nations has a severe influence on manufacturing operations, delivery timetables, and multiple commodities sales. The raw materials supply for making broth was disrupted by the travel restrictions. However, there have been steady advances, and many food production units are now operational, which is helping the broth market. In addition, the pandemic has resulted in significant adjustments in consumer tastes, including a greater awareness of the need of living a healthy lifestyle, which may have a favourable influence on the broth industry.
To achieve a competitive advantage, manufacturers are expected to invest in new technologies and expand their present production capacity. The growing popularity of bone broth in the United States, Spain, and the United Kingdom is expected to provide new prospects in the sector.
Furthermore, growing technical advancements, such as digitalized industrial processes and automation for speciality food manufacture, would have a favourable impact on the global broth market. It is expected that the meat, fish, and poultry processing businesses would modernise their production lines to make additive-free bone sauces and stock
Poultry Broth Segment Accounted for Highest Sales
By 2029, the market for broth is expected to exceed USD 7000 million. The global broth market is segmented by product type and comprises vegetable broth, beef broth, poultry broth, and bone broth. In the year 2020, poultry dominated the market and held the biggest market share of 39.86 percent. Fitness enthusiasts have a high demand for poultry goods such as chicken meat and eggs, and as a consequence, they prefer to drink broth prepared from these products. The demand for bone broth, on the other hand, is predicted to expand rapidly between 2022 and 2029. It's full in nutrients like magnesium and calcium. Bone broth also has a greater protein concentration than other broths. Between 2022 and 2029, the CAGR is expected to reach around 3.5 percent.
The Shelf-Stable Category Is Expected Grow At Highest CAGR
The global broth market is divided into two categories: shelf-stable and refrigerated on the basis of Nature. During the anticipated year, the shelf-stable category is expected to rise at a CAGR of 4.87 percent. In specialist stores, the shelf-stable broth is readily accessible. Its popularity is also growing as a result of its organic origin and good taste quality. Consumer tastes are altering as a result of increased awareness, which is beneficial to the segment.
North America Is Likely to Grow At Fastest CAGR
During the forecast period, the broth market in North America is predicted to develop at the fastest rate. The increased demand for convenience foods, particularly among middle-to-high-income customers, is mostly responsible for the rise of the broth industry in this area. Broth brings this convenience feature, as well as healthier and flavorful food options, to the fast-paced consumer's lifestyle. In addition, as customers' lifestyles shift toward a healthier way of life, the demand for broth in North America is expanding. Broth's health advantages, including as increased immunity, muscular protein synthesis, weight loss, and anti-aging qualities, are driving up consumer demand in North America.
The increasing need to consuming foods rich in minerals that help build and strengthen your bones and provide body with essential fatty acids, nutrients, and vitamins is improving the reliance on broth furthering the development of global broth market.
Owing to benefits such as anti-ageing properties, aids digestion, rich source of fatty acids, amino acids, nutrients and minerals. It promotes good sleep and increases immunity as well as promotes joint health. These benefits have increased the demand of broth across the world boosting the global broth market.
Broth market size is expected to exceed USD 2.5 billion in 2019, with a CAGR of around 3.5 percent between 2022 and 2029. Growing consumer knowledge of health issues, as well as the multiple health advantages afforded by broth intake, will propel the market forward. Worldwide broth market is expected to soar over USD 5.89 billion by 2029.
The market will continue to rise as technology improvements in the food and beverage sector accelerate. These developments paved the way for improved automated lines, particularly for speciality foods like broth. The market demand has been aided by the novel preparation approaches. Aside from that, the rising demand for packaged foods has pushed the usage of broth forward. However, the strict regulations governing the processing of meat products have resulted in an increase in manufacturing costs.
Broth is a liquid that is made by simmering meat or vegetables in it. It has a thick texture and is a significant component in the production of a variety of cuisines. It has a variety of tastes and hence enriches the flavour of the foods in which it is used. Aromatic vegetables, herbs, and spices contribute to these tastes. It also does not become chilly when refrigerated, thus it may be used even after a few days. The broth is considered a dish in and of itself since it is seasoned and salted.
Broth intake satisfies the body's nutritional requirements, making it advantageous to bodybuilders and athletes. Broth recipes are becoming increasingly popular throughout the world since they are tasty and healthful.
However, it has presence of harmful flavouring agent that may have severe impact on the body. Thus consumers are preferring other products over broth that is decreasing the market value along with reduced demand of broth. These factors are hampering the global broth market.
Furthermore, growing technical advancements, such as digitalized industrial processes and automation for speciality food manufacture, would have a favourable impact on the global broth market. It is expected that the meat, fish, and poultry processing businesses would modernise their production lines to make additive-free bone sauces and stock.
The major players in Global Broth Market are Kettle & Fire, Belcampo, The Stock Merchant, Bonafide Provisions, Hain Celestial Group, Del Monte Food, Knorr, Bare Bones Broth, Manischewitz, College, Campbell Soup Company, Paleo Broth Company, Pacific Foods of Oregon, and Progresso among others. Mergers and acquisitions, current developments, joint ventures, collaborations, product innovations, and partnerships are all used by the leading players in the broth industry to expand their businesses. These methods are helping the companies get a larger proportion of the global broth market and enhance their position. Campbell Soup Company and Progresso Systems are two of the most well-known broth producers and suppliers in the world.
The companies due to their product offerings generate excellent profit margins and commercial prospects for producers, which will likely propel the global broth market forward.
Latest Innovations in the Broth Market: A Snapshot
- LonoLife's bone broths are made from the bones of cattle and chicken. Because the bones are defatted before cooking, each serving includes no more than 1 gramme of fat. A serving of beef, which comes in original low-sodium, Thai curry, and tomato flavours, and chicken, which comes in original and low-sodium variants, has 10 grammes of protein. While the company's wares are known to be keto-friendly, it just launched a new keto range that contains 5 grammes of fat per serving. Cream and butter are used in the beef version, whereas chicken fat is used in the chicken version. The mixes are available in single serve stick packs, cups, and bulk scoop containers, with instructions to mix with 8 oz of water.
Broth Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 2.5 billion|
|Growth Rate||CAGR of 3.5 % during 2021-2028|
|Segment Covered||Type, Nature, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Kettle & Fire, Belcampo, The Stock Merchant, Bonafide Provisions, Hain Celestial Group, Del Monte Food, Knorr, Bare Bones Broth, Manischewitz, College, Campbell Soup Company, Paleo Broth Company, Pacific Foods of Oregon, and Progresso among others.|
Key Segments of the Global Broth Market
Type Overview, 2019-2029 (USD Million)
Nature Overview, 2019-2029 (USD Million)
- Shelf Stable
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa