Broth market

Global Broth Market Size (2024 to 2029)

The Global Broth market share value is expected to grow at a CAGR of 3.4% during the forecast period 2024-2029 to reach USD 6.34 billion by 2029 from 5.36 billion in 2024. 

Bone broth, often referred to as stock, is a liquid derived from simmering animal bones and connective tissues. It is a fundamental ingredient in the culinary world, serving as a foundational element for soups, sauces, and gravies. Some individuals also consume it as a standalone beverage. Notably, bone broth contains traces of the amino acid glycine, which has been associated with promoting relaxation and facilitating more restful sleep. Additionally, its high water content aids in maintaining hydration. A study involving mice conducted in 2021 further suggested that the amino acids present in bone broth possess anti-inflammatory properties, potentially mitigating gut damage associated with ulcerative colitis.

In light of today's hectic work schedules and extended hours, people often pay insufficient attention to their daily dietary choices and overall well-being. Consequently, there has been a notable increase in awareness regarding health and nutrition over the past few years. This heightened awareness has led to a swift change in consumer food preferences, with a growing emphasis on health considerations. This shift has resulted in increased consumption of premium products enriched with essential nutrients, thereby contributing to the growth of the broth market.

The Broth market stands to benefit from the growing appetite for digitalized industrial processes, which offers untapped opportunities. Advancements in technology, particularly in digitalizing industrial operations and automating specialty food production, represent promising opportunities for the market. Moreover, the increasing popularity of bone broth in countries such as the United States, Spain, and the United Kingdom is expected to create fresh avenues within the industry. While the business is still in its nascent growth phase, it is expanding rapidly and holds the promise of delivering substantial profit margins and business prospects for manufacturers. This, in turn, is likely to propel the growth of the broth market.

Global Broth Market Drivers:

The Broth market is significantly driven by the influence of consumer preferences for healthy foods. Broth products crafted from fresh vegetables, meat, and bones have garnered substantial popularity due to their various health benefits and nutritional value. These broths are in demand because they contribute to improved immunity, hydration, muscle protein synthesis, support joint and bone health, and even exhibit anti-aging properties. Bone broth, in particular, is gaining popularity among consumers as an alternative protein source due to its balanced composition of macronutrients and micronutrients, along with a high protein concentration. For instance, according to a 2020 report from EClinicalMedicine, more than 22% of individuals aged 40 and above worldwide suffer from knee osteoarthritis. Bone broth, being a source of gelatin, has the potential to break down into collagen in the body, which can alleviate knee joint symptoms associated with osteoarthritis, such as pain, stiffness, and reduced physical function. Additionally, bone broth contains glutamine and other amino acids that may support effective digestion, potentially benefiting conditions like leaky gut, characterized by intestinal mucosal irritation and impaired food digestion. Therefore, the numerous advantages linked to broth consumption are driving the growth of the broth market. Furthermore, consuming broth can aid in weight management, as it is rich in protein, which helps individuals feel full for longer periods while meeting their calorie needs; incorporating broth into one's diet, whether by drinking it or preparing a simple soup, can be viewed as a beneficial method to enhance dietary protein intake without leaving one unsatisfied. Consequently, the consumer preference for nutritious foods is a contributing factor to the growth of the broth market.

Global Broth Market Restraints:

The factors likely to hamper the market growth of the Broth market are the independent and specialized home-based companies and strict regularity norms. The commercial bone broth market remains unorganized, primarily due to the prevalence of a limited number of independent and specialized home-based companies. These manufacturers cater to local markets and distribute their product range through online platforms, retail outlets, and health food stores. Stringent regulations governing meat processing are anticipated to lead to increased overall production costs, potentially influencing the price trends in the broth market. Nevertheless, the presence of harmful flavoring agents and strict government regulations concerning meat processing can pose challenges to market growth. Furthermore, Bone broth is derived from animal bones and meats, raising ethical concerns regarding harm to animals. Additionally, it may contain bacteria that could be detrimental to human health. These additional factors will hamper the broth market in the upcoming period.

Impact of COVID-19 on the Broth Market:

The global COVID-19 pandemic brought about substantial disruptions for businesses across various industries as governments worldwide imposed lockdown measures to curb the virus's spread. This resulted in temporary closures of manufacturing facilities and production interruptions. Additionally, the Broth market experienced challenges in terms of global availability due to raw material shortages and disruptions in supply chains. These disruptions were a consequence of import and export restrictions enforced by different countries. Countries in the Asia Pacific region, including China, India, and Japan, encountered significant difficulties due to the closure of manufacturing units, disruptions in supply chains, and shortages of raw materials during the pandemic. These factors led to a sharp decline in the manufacturing and distribution of broth products. However, the pandemic also presented lucrative opportunities for key players in the Asia Pacific broth market. Many companies in this industry adapted by implementing government protocols and regulations, allowing them to continue selling their products during or after the second wave of COVID-19. This strategic response aimed to capitalize on the situation and boost sales.

REPORT COVERAGE: 

This research report on the global broth market has been segmented and sub-segmented based on nature, type, distribution & region. 

Global Broth Market  – By Nature:

• Conventional
• Organic

Based on nature, the conventional segment dominated the Broth market in 2022 and is anticipated to grow at the highest CAGR during the projected period. Conventional practices involve the use of potent chemicals to manage fertility, ward off pests, and reduce the risk of diseases in crops. Animals raised on both conventional and grass-fed farms can potentially be exposed to toxins present in fertilizers, pesticides, and insecticides used in pastures. In contrast, broth is a toxin-free option that can contribute to the management of specific health conditions like autoimmune disorders and allergies. Furthermore, the production process of conventional broth is simpler compared to organic broth. It is widely accessible and more cost-effective. These factors are driving the increasing demand for conventional broth, consequently propelling growth in the broth market.Conversely, the organic segment is expected to register the fastest CAGR during the forecast period.

Global Broth Market - By Type:

• Chicken Bone Broth
• Beef Bone Broth
• Turkey Bone Broth
• Pork Bone Broth
• Fish Bone Broth

Based on the type, the chicken bone broth segment is expected to dominate the Broth market during the forecast period. These segment shares are primarily driven by the rising health awareness in developing nations. This segment offers various health benefits, including enhanced digestion, alleviation of joint discomfort, and improvements in hair and skin health.

On the other hand, the beef bone broth segment is anticipated to register a substantial CAGR during the forecast period.

Global Broth Market – By Distribution Channel:

• Supermarkets and hypermarkets
• Convenience stores
• Online Retail
• Others

Based on the distribution channel, the supermarket and hypermarket segment is projected to dominate the broth market during the forecast period. Supermarkets and hypermarkets, large-scale retail establishments, provide a wide array of products encompassing groceries, beverages, and household necessities. These stores offer an assortment of brands at competitive prices, making it convenient for shoppers to locate their desired items. Additionally, supermarkets and hypermarkets entice customers with appealing discounts, multiple payment options, and an enjoyable shopping experience. Their primary focus is on maximizing product sales to enhance profitability. The increasing trend of urbanization, a growing working-class population, and competitive pricing contribute to the popularity of these retail giants in both developed and developing regions. Furthermore, these stores are equipped with modern storage facilities that create optimal conditions for storing broth and other non-perishable goods.

Conversely, convenience and online retail are projected to achieve the most rapid CAGR in the anticipated period.

Global Broth Market – By Region:

• North America
• Europe
• Asia-pacific
• Middle east and Africa
• Latin America

Based on region, during the forecasted period, the North American broth market is expected to exhibit the most rapid CAGR. This growth can be attributed to the rising demand for convenient food options, particularly among middle-to-upper-income consumers in the region. Broth effectively marries convenience with healthier and more appealing meal choices, catering to the fast-paced lifestyles of consumers. Additionally, the shifting consumer lifestyle towards a focus on healthier living is fueling the demand for broth in North America. The health benefits associated with broth, such as boosting immunity, support for muscle protein synthesis, weight management, and anti-aging properties, are contributing significantly to the increasing preference for broth among North American consumers.

The Asia Pacific broth market is anticipated to experience the most rapid CAGR in the projected period. This growth is being driven by the adoption of cross-cultural culinary influences and shifts in dietary preferences among individuals in middle-income countries in the region. 

KEY MARKET PLAYERS:

The Global Key Market Players of Broth Market are Unilever, Knorr, Del Monte, Campbell Soup Company, Pacific Foods of Oregon, General Mills, Progresso, Bare Bone Broth, Kettle and Fire Inc, Bonafide Provisions LLC.

RECENT HAPPENINGS IN THE MARKET:

In January 2020, Barebones Ventures, LLC, introduced a new chicken-flavored Bone Broth Instant Beverage Mix in the United States. This product aims to provide consumers with convenient and cost-effective access to nutritious bone broths.