Broth Market Size, SWOT Analysis, Future Demand, Industry Share and Forecast to 2028

The scope of our recent study titled "Broth Market Forecast to 2028 - Global Analysis - by Type (Chicken Broth, Beef Broth, Seafood Broth, Vegetable Broth, and Others), Category (Organic and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)" includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.

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The broth market is projected to reach US$ 6,315.40 million by 2028 from US$ 5,180.51 million in 2022. It is expected to register a CAGR of 3.4% from 2022 to 2028.

The broth is a clear, nutrient-dense soup made by cooking (simmering) animal bones, cartilage, and meat in water. Broth can be made with chicken, beef, pork, seafood, or vegetables. It is typically seasoned, and it finishes as a thin, flavorful liquid that does not require gel when chilled. Although it can be consumed as is, it is widely used to prepare soups, gravies, and sauces.

Based on type, the broth market is segmented into chicken broth, beef broth, seafood broth, vegetable broth, and others. The chicken broth segment held the largest share of the broth market in 2022, and the vegetable broth segment is projected to register the fastest CAGR during the forecast period. Vegetable broth is made by simmering vegetables in water. It is a rich source of fiber and contains essential nutrients such as vitamins, minerals, and proteins. Vegetable broth contains a high amount of vitamin A that enhances vision and helps prevent eye diseases such as cataracts and glaucoma. The macronutrients and micronutrients content, and high protein concentration are expected to fuel the demand for vegetable broth in the coming years.

The broth market is segmented into five main regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America held the largest share of the market in 2022, and Asia Pacific is expected to register the fastest CAGR during the forecast period. The market in North America is segmented into the US, Canada, and Mexico. They prefer consuming food and beverages with high nutritional value to boost immunity. In addition, the rising consumption of convenience food in the region accelerates the demand for broth in this region. Thus, such increasing demand for bone broth is further expected to drive broth market growth in North America.

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The report segments the broth market as follows:

Based on type, the broth market is segmented into chicken broth, beef broth, seafood broth, vegetable broth, and others. Based on category, the market is segmented into organic and conventional. In terms of distribution channel, the broth market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. Based on geography, the broth market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

Global Broth Market: Competitive Landscape

Manischewitz Co.; Barebones Ventures LLC.; The Hain Celestial Group, Inc.; Look's Gourmet Food Company, Inc.; Kettle & Fire, Inc.; Del Monte Foods, Inc.; Zoup Specialty Products LLC.; Campbell Soup Co.; Epic Provisions LLC.; and Bonafide Provisions LLC are among the players operating in the broth market. These players are emphasizing new product launches and geographic expansions to meet the growing consumer demand worldwide. The widespread presence of these companies in the world helps them serve a large range of customers, subsequently allowing them to increase their market share. These market players are highly focused on launching new products and expanding their product range in specialty portfolios

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This release was published on openPR.