Broth Market Introduction

Broth, also known as stock, is a liquid that is made by simmering animal bones, meat, or vegetables in water, along with various herbs and spices, for an extended period of time. Broth is used as a base for soups, stews, gravies, and sauces, and it is also consumed as a hot beverage for its nutritional and medicinal properties.The global broth market is primarily driven by the increasing demand for convenient and healthy food products. Broth is a rich source of protein, collagen, and other essential nutrients, and it is low in calories and fat, making it a popular choice among health-conscious consumers.The broth market is segmented based on the type of broth, which includes chicken, beef, vegetable, fish, and others. Chicken broth is the most popular type of broth, followed by beef broth. Vegetable broth is also gaining popularity among consumers who follow vegetarian or vegan diets.The market is also segmented based on the form of broth, which includes liquid and powder. Liquid broth is widely used in cooking and as a beverage, while powder broth is preferred for its convenience and longer shelf life.Geographically, North America is the largest market for broth, followed by Europe and Asia-Pacific. The market is expected to grow at a significant rate in emerging economies, such as China and India, due to the increasing demand for convenience foods and rising disposable income.Overall, the broth market is expected to continue to grow, driven by the increasing demand for healthy and convenient food products.

Broth Market Size

The global broth market size was valued at USD 3.33 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2021 to 2028. The increasing demand for healthy and convenient food products, along with the growing trend of clean labels and natural ingredients, is driving the growth of the broth market.Among the different types of broth, chicken broth is the most popular, accounting for the largest share of the market in 2020. This is due to the popularity of chicken-based soups and stews, as well as the growing awareness of the health benefits of consuming chicken broth.In terms of the form of broth, the liquid segment dominated the market in 2020, accounting for the largest share. However, the powder segment is expected to grow at a faster rate during the forecast period, due to its convenience and longer shelf life.Geographically, North America is the largest market for broth, accounting for the majority of the market share in 2020. The region is expected to continue to dominate the market during the forecast period, driven by the increasing demand for healthy and convenient food products, along with the growing trend of home-cooked meals.Europe and Asia-Pacific are also significant markets for broth, driven by the increasing demand for clean label and natural ingredients, as well as the growing trend of convenience foods in these regions.Overall, the broth market is expected to continue to grow and evolve, driven by the increasing demand for healthy and convenient food products, as well as the growing trend of natural and clean label ingredients.

Broth Market Share

The global broth market is highly fragmented, with several players operating in the market. Some of the key players in the market include The Campbell Soup Company, Pacific Foods of Oregon, Knorr Foods Co., Ltd., Progresso, Inc., and McCormick & Company, among others.The Campbell Soup Company held the largest market share in the global broth market in 2020, followed by Pacific Foods of Oregon and Knorr Foods Co., Ltd. These companies have a strong presence in the market and offer a wide range of broth products, catering to the diverse needs and preferences of consumers.In terms of the type of broth, chicken broth accounted for the largest market share in 2020, followed by beef broth and vegetable broth. Chicken broth is a popular choice among consumers due to its versatility, as it can be used in a wide range of recipes, from soups and stews to gravies and sauces.In terms of the form of broth, the liquid segment accounted for the largest market share in 2020, followed by the powder segment. Liquid broth is preferred for its taste and convenience, while powder broth is popular for its longer shelf life and ease of storage.Geographically, North America held the largest market share in 2020, followed by Europe and Asia-Pacific. The North American market is driven by the increasing demand for healthy and convenient food products, while the European and Asia-Pacific markets are driven by the growing trend of clean label and natural ingredients.Overall, the broth market is highly competitive, with several players vying for market share. The market is expected to continue to grow and evolve, driven by the increasing demand for healthy and convenient food products, as well as the growing trend of natural and clean label ingredients.

Broth Market Trends

The global broth market is constantly evolving, with new trends and innovations emerging in response to changing consumer preferences and demands. Here are some of the key trends shaping the broth market:

1. Rising demand for natural and clean label ingredients: Consumers are increasingly looking for natural and minimally processed food products, and this trend is driving the demand for broths made with natural and clean label ingredients. Manufacturers are responding by using high-quality ingredients, such as grass-fed beef, organic vegetables, and free-range chicken, to cater to this demand.
2. Growing popularity of plant-based broths: The rising popularity of vegetarian and vegan diets is driving the demand for plant-based broths made with vegetables, herbs, and spices. These broths are a rich source of nutrients and offer a range of health benefits, making them a popular choice among health-conscious consumers.
3. Increasing focus on sustainability: Consumers are becoming more aware of the environmental impact of their food choices, and this is driving the demand for sustainably sourced and produced broths. Manufacturers are responding by using sustainable and ethical sourcing practices, such as using animal bones and vegetables from local farms and reducing food waste through upcycling.
4. Emergence of new flavors and varieties: Manufacturers are introducing new flavors and varieties of broths to cater to diverse consumer preferences and tastes. For example, bone broth with added collagen and herbs is gaining popularity among consumers looking for a nutrient-rich beverage, while Asian-inspired broths made with miso, ginger, and lemongrass are becoming popular for their unique flavors.
5. Increasing focus on convenience: With busy lifestyles and the growing trend of home-cooked meals, consumers are looking for convenient and easy-to-use broth products. Manufacturers are responding by offering ready-to-use liquid broths and convenient powder broths that can be quickly prepared at home.

Overall, the broth market is expected to continue to evolve and grow, driven by these trends and the increasing demand for healthy, convenient, and sustainably sourced food products.

Broth Market Driving Factors

There are several driving factors contributing to the growth of the broth market:

1. Increasing consumer preference for natural and healthy food products: Consumers are becoming more health-conscious and are looking for natural and healthy food products. Broth is considered to be a healthy and natural food product that is rich in nutrients, making it a popular choice among health-conscious consumers.
2. Growing popularity of vegan and vegetarian diets: Vegan and vegetarian diets have become increasingly popular in recent years. Broth made from plant-based ingredients, such as mushrooms and seaweed, is a popular choice among vegan and vegetarian consumers.
3. Rising demand for convenience food products: The busy lifestyle of consumers has led to an increase in demand for convenience food products. Broth is an easy-to-prepare food product that can be consumed as a snack or a meal replacement, making it a popular choice among busy consumers.
4. Growing awareness about the health benefits of bone broth: Bone broth is known to be rich in collagen, amino acids, and other nutrients that offer several health benefits, including improved gut health, joint health, and immune function. The growing awareness about the health benefits of bone broth is driving the demand for bone broth in the market.
5. Increasing use of broth as a flavoring agent: Broth is used as a flavoring agent in a variety of food products, such as soups, sauces, and gravies. The increasing use of broth as a flavoring agent in the food industry is driving the demand for broth in the market.

Broth Market Regional Analysis

The broth market can be analyzed based on different regions:

1. North America: The North American broth market is expected to grow significantly due to the increasing awareness about the health benefits of broth, the rising demand for convenience food products, and the growing popularity of vegan and vegetarian diets. The United States is the largest market in the region, with consumers preferring beef and chicken broth.
2. Europe: The European broth market is expected to grow due to the increasing demand for natural and healthy food products. The United Kingdom and Germany are the largest markets in the region, with consumers preferring vegetable and beef broth.
3. Asia Pacific: The Asia Pacific broth market is expected to grow rapidly due to the increasing population and rising disposable income of consumers. Consumers in the region prefer chicken and vegetable broth. China and Japan are the largest markets in the region.
4. Latin America: The Latin American broth market is expected to grow due to the increasing demand for convenience food products and the rising awareness about the health benefits of broth. Brazil and Mexico are the largest markets in the region.
5. Middle East and Africa: The Middle East and Africa broth market is expected to grow due to the increasing demand for natural and healthy food products. Consumers in the region prefer chicken and beef broth. South Africa is the largest market in the region.

Broth Market Forecasts 2030

The broth market is expected to grow at a significant rate and reach USD 3.5 billion by 2030, with a CAGR of around 6.2% during the forecast period. The following factors are expected to drive the growth of the market:

1. Increasing demand for natural and healthy food products
2. Rising popularity of vegan and vegetarian diets
3. Growing awareness about the health benefits of bone broth
4. Increasing use of broth as a flavoring agent
5. Rising demand for convenience food products

In addition, the growing trend of clean label and organic food products is expected to provide new growth opportunities for the market. The Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by the increasing population and rising disposable income of consumers. The vegetable broth segment is expected to grow at the highest CAGR due to the growing popularity of vegan and vegetarian diets. The beef broth segment is expected to hold the largest market share, followed by chicken broth.

Broth Market Key Industry Players

Some of the key players in the broth market include:

1. Campbell Soup Company
2. Pacific Foods of Oregon
3. Bonafide Provisions
4. Bare Bones Broth Co.
5. Kettle & Fire, Inc.
6. The Stock Merchant
7. College Inn
8. Epic Artisanal
9. The Osso Good Co.
10. The Flavor Chef

These companies are focusing on product innovation, expanding their product portfolios, and strategic partnerships and collaborations to increase their market share. In addition, companies are also focusing on sustainable and environmentally friendly packaging solutions to meet the growing demand for eco-friendly products.