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Industry Trends
Broth market size to surpass USD 2.5 Billion, in 2019 and is estimated to grow over 3.5% CAGR between 2020 and 2026. Growing awareness regarding health among consumers across the globe coupled with the numerous health benefits offered by broth consumption will drive the industry growth.
Surge in demand for additional healthy products among athletes and bodybuilders to boost performance, general fitness, and overall health will provide a strong broth market outlook for manufacturers. Key ingredients including gelatin, collagen, glutamine and glycine are expected to propel product utilization. Persuading health benefits including improved digestive health, immunity and soft tissues recovery are the major supporting factors for product penetration.
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Increasing technological developments including digitalized industrial process and automation for specialty food manufacturing will positively influence overall broth industry scenario. Meat, fish and poultry processing industries are anticipated to upgrade their manufacturing line to produce additive-free bone sauces and stock. Manufacturers are anticipated to do funding in novel technologies and expand their existing production capacity to gain competitive edge.
Increasing bone broth popularity in U.S., Spain and UK, is anticipated to open up new opportunities in the industry. The business is on its initial growing stage but rapidly growing and is anticipated to provide great high-profit margin and business opportunities for manufacturers which is likely to drive the broth market growth.
Commercial bone broth market is still unorganized due to presence of few independent & specialized home-based companies. These manufacturers operating in local market distribute their product line through online, retail, and health food stores. Strict regulatory norms regarding meat processing expected to increase overall production costs, thus, impacting the broth market price trend.
| Report Coverage | Details |
|---|---|
| Base Year: | 2019 |
| Market Size in 2019: | USD 2.5 Billion |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 3.6% |
| 2026 Value Projection: | USD 3.3 Billion |
| Historical Data for: | 2015 to 2019 |
| No. of Pages: | 230 |
| Tables, Charts & Figures: | 348 |
| Segments covered: | Type and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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However, companies are investing in new technological developments and production capacity expansions to enhance their product portfolio. For instance, In September 2017, International Dehydrated Foods launched new Real Clean Protein Powder, which delivers essential amino acid for muscle growth, strength and recovery for human body. The company targeted bodybuilders, athletes, and fitness fan worldwide. This strategy was to extend product portfolio and enhance the broth market position.
COVID 19 pandemic has led to imposition of travel restrictions and manufacturing units, offices & marketplaces shutdown by governments all over the globe. Due to such restrictions has resulted in value chain disruptions across the world. This has adversely impacted raw materials supply for producing broth. This disease outbreak has resulted to global manufacturing plants lockdown which may decrease broth utilization.
Growing Specialty Gourmet Channel will boost market growth
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Shelf stable type broth market from specialty gourmet channel is estimated to witness significant gains over 3% through 2026. Shelf stable type broth has witnessed increasing availability at specialty gourmet stores due to increasing consumer awareness. Specialty gourmet stores commonly provide high quality specialty products, organic and natural food and other products.
These stores are commonly characterized with fresh products on the shelves. Increasing healthy and gourmet foods popularity among consumers driving growth in broth market segment. Shift in consumer preference for innovative products with superior taste profiles will also fuel product sales through the channel over the forecast period.
Increasing gourmet products popularity and consumer loyalty for high quality food coupled with greater focus on organic and natural ingredients is driving product demand. Surge in number of restaurants offering specialty gourmet food will further accelerate broth market share from specialty gourmet channel.
Persuading health benefits offered by shelf stable type poultry broth will stimulate market growth
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Shelf stable type poultry broth market is anticipated to reach over USD 1 billion by 2026. Growing animal protein consumption and increasing health consciousness in developing countries are key attributes supporting market growth. As per OECD/FAO reports, global poultry utilization was estimated 111 million tonnes in 2015 and expected to surpass 133 million tonnes by 2024 which should foster the broth market growth.
This product offers persuading health attributes including restores gut health & improves digestion, reduces joint pain, anti-inflammatory, improves skin, hair & nails and promotes bone growth. Additionally, the processing of poultry broth is very easy and production cost is very low.
Booming product utilization in Asia Pacific will stimulate broth market growth
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Asia Pacific is estimated to witness significant gains over 3.5% through 2026. Increasing health consciousness among consumers and rising disposable income in emerging economies such as India, China and Malaysia will provide a strong broth market outlook for manufacturers.
Rising adoption among pregnant women particularly in Asia Pacific as an alternative drink to cure pregnant sickness as well as in regular diet to enhance joint health will drive broth market growth. As per statistics, in China meat consumption per person is around 60 kg annually and is projected to surpass over 85 kg by 2024. Increasing urbanization coupled with regional FDI liberalization of are major key factors supporting Asia Pacific broth market growth.
Novel product launches and R & D to be key business strategic plans by manufacturers
Global broth industry is moderately consolidated with major market participants including Del Monte, Campbell Soup Company, Knorr, Pacific Foods of Oregon, Manischewitz and General Mills.
Participants in broth market are implementing strategies including capacity mergers & acquisitions, expansions, partnerships & collaborations and new product launches. For instance, In 2019, LonoLife, a California based company focused on catering consumers convenient and nutritionally rich products including collagen, bone broth and more, announced its launch of new line of bone broth products.
In 2019, Bonafide company launched its new line of Keto Broth Cups. This product line includes heat-and-drink cups of bone broth, MCT oil and frozen.
Broth market research report includes in-depth coverage of the industry trends, with estimates & forecast in terms of revenue (USD Million) from 2015 to 2026, for the following segments:
By Type
- Refrigerated
- By Product
- Beef Broth
- Poultry Broth
- Vegetable Broth
- Others
- By Distribution Channel
- MultiOutlet
- Speciality Gourmet Channel
- Others
- By Product
- Shelf Stable
- By Product
- Beef Broth
- Poultry Broth
- Vegetable Broth
- Others
- By Distribution Channel
- MultiOutlet
- Speciality Gourmet Channel
- Others
- By Product
The above information has been provided for the following regions:
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Poland
- Asia Pacific
- China
- Japan
- South Korea
- Australia
- Malaysia
- Thailand
- LATAM
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
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