Broth Market 2024 - By Size, Share, Growth Rate, Emerging Trends, Development Status, Revenue Outlook And Forecast 2033

The broth market size has grown strongly in recent years. It will grow from $4.83 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to rising interest in natural and organic foods, health and wellness trends, convenience and ready-to-eat foods, focus on sustainability and ethical sourcing, culinary trends and fusion cuisine.

The broth market size is expected to see strong growth in the next few years. It will grow to $6.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to plant-based and alternative broths, e-commerce and online retailing, functional and health-boosting ingredients, globalization of culinary preferences, rise of broth-based beverages. Major trends in the forecast period include innovative packaging solutions, collaborations and limited edition offerings, broth subscription services, transparency in labeling and sourcing, broth-based snacks and condiments.

Market Overview -
The broth is a flavorful liquid made by simmering meat, bones, vegetables, or herbs in water. It is commonly used as a base for soups, stews, sauces, and other dishes and is seasoned with salt, herbs, and spices to enhance its flavor.

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Broth Market Set For Booming Fortified Food And Beverage Industry
The rising fortified food and beverage industry is expected to propel the growth of the broth market going forward. Fortified food and beverage refer to products enriched with additional nutrients that are not naturally present or are present in insufficient amounts. Broth, especially bone broth, is perceived as a nutritious and natural source of vitamins, minerals, and proteins, which drives its popularity among health-conscious consumers. For instance, in February 2022, according to the report published by Agriculture and Agri-Food Canada, a Canada-based government agency, the retail sales value of fortified or functional foods and beverages in the United States increased to $68.9 billion in 2021, In addition, they are projected to reach $79.1 billion in 2025, up 3.5% compared to 2021. Therefore, the rising fortified food and beverage industry drives the broth market.

Competitive Landscape -
Major companies operating in the broth market report are Unilever plc, Ajinomoto Co. Inc., Campbell Soup Company, McCormick & Company Inc., The Hain Celestial Group Inc., Del Monte Foods Inc., Goya Foods, Swanson Health Products, Pacific Foods of Oregon LLC, Old Neighborhood Foods, Custom Culinary Inc., Frontier Natural Products Co-op, Progresso, Belcampo Group Inc., Look's Gourmet Food Company Inc., The Manischewitz Company, Kettle & Fire Inc., Shalit Foods Inc., LorAnn Oils, College Inn, Savory Creations International Inc., LonoLife, Paleo Broth Company LLC, BRODO Kitchen, Bonafide Provisions LLC, Bone Broths Co., Osso Good Co., and Barebones Ventures LLC.

Z Natural Foods Sets A New Standard In Broth Innovation With Instant Chicken Bone Broth Soup Base Powder
Product innovation is the key trend gaining popularity in the broth market. Major companies operating in the broth market are concentrating on creating innovative products to strengthen their position in the market. For instance, in March 2023, Z Natural Foods, a US-based company specializing in natural and organic food products, introduced its instant chicken bone broth soup base powder, offering a convenient way to enjoy the health benefits of bone broth. This natural product contains organic ingredients such as chicken bone broth, carrots, tomatoes, shiitake mushrooms, and onions. With this nutritious and flavorful blend, creating delicious soups, stews, sauces, and other culinary creations becomes effortless.

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Key Segments -
The broth market covered in this report is segmented -
1) By Type: Chicken Broth, Beef Broth, Vegetable Broth, Seafood Broth, Other Types
2) By Category: Organic, Conventional
3) By Nature: Shelf Stable, Refrigerated
4) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Online Retail, Other Distribution Channels

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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