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Bouillon Stock Cubes Market is Expected to reach a Valuation of More than US$ 10 BN by the End of the Year
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Global Bouillon Market: Forecast Highlights
According to the analysis on bouillon market by Persistence Market Research, the global market is expected to reach a valuation of more than US$ 10 Bn by the end of the year of assessment from a value of around US$ 7.1 Bn in 2017. The global bouillon market is projected to expand at a moderate rate to reflect a CAGR of 4.5% during the period of assessment.
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Global Bouillon Market: Segmentation Analysis
The global bouillon market is segmented on the basis of product type, form, distribution channel and region.
By region, North America is expected to show high market attractiveness and is anticipated to dominate the global market. The bouillon market in this region is estimated to reach a value of more than US$ 3 Bn by the end of the year of assessment.
By product type, meat segment is the largest and is estimated to be valued at US$ 6.2 Bn by 2025 end, but is expected to grow at a comparatively slow rate during the forecast period. Vegetable segment in this category is projected to grow at the fastest pace to register a CAGR of 5.5% during the period of assessment.
By form, powder segment is the fastest growing segment owing to increased preference of this form. It is expected to grow at a high value CAGR of 5.9% throughout the period of forecast. The cubes segment is the largest with a high market share and is likely to lead the global market in the years to follow.
By distribution channel, supermarket/hypermarkets segment is estimated to hold a high market share. Also, independent grocery stores are expected to exhibit a high CAGR of 6.3% during the forecast period.
Global Bouillon Market: Dynamics Influencing Market Expansion
Rising awareness of fortified foods, increasing per capita expenditure, increasing consumption of a variety of bouillon products, increase in demand for vegan food products, improved retail format, increasing awareness of consumers, awareness based marketing, rise of e-commerce making the market highly transparent, good supply chain and private label products, rising demand for clean label products, increasing research and development expenditure, growing urbanization and increasing government support for food research and innovation are boosting the growth of the global bouillon market. Factors such as availability of substitutes, high price and lack of skilled labor are restricting the growth of the global bouillon market.
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Global Bouillon Market: Competitive Analysis
The research report on global bouillon market includes company profiles of key players involved in the market. Major companies such as NESTLE S.A., THE UNILEVER GROUP, International Dehydrated Foods, Inc., HENNINGSEN FOODS, McCormick & Company, Inc., Anhui Goodday Food Co., Ltd., Goya Foods Inc., Hormel Foosd Corporation, The Kraft Heinz Company, Southeastern Mills Inc., Integrative Flavors, Proliver Bvba, MORGA AG, GB Foods, Massel Pty., Ltd., Edwards and Sons Trading Company Inc., and Major Products Inc., are analyzed and profiled in this extensive research report.
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