Press release
Broth Market Size Share Growth Trends and Forecast Analysis
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 savory liquid that has a thin consistency. It is made by boiling meat, fish, vegetables, bones, and other ingredients such as seasonings and flavors in water. Broths serve as rich sources of protein and are usually consumed before or during meals. They possess unique flavors and aromas, which is adding to their popularity among consumers who are concerned about their health but don't want to compromise on taste and flavor.
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Analysis of the Top Market Players:
1. The Manischewits Co
2. Barebones Ventures LLC
3. Bonafide Provisions LLC
4. The Hain Celestial Group Inc
5. Look's Gourmet Food Company Inc
6. Kettle & Fire Inc
7. Del monte Foods Inc
8. Zoup Specialty Products LLC
9. Campbell Soup Co
10. Epic Provisions LLC
In this report, the market has been segmented on the basis of:
Type (Chicken Broth, Beef Broth, Seafood Broth, Vegetable Broth, and Others)
Category (Organic, Conventional,
Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others)
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Based on type, the broth market is segmented into chicken broth, beef broth, seafood broth, vegetable broth, and others. The chicken broth segment accounted for the largest share of the market in 2022, and the vegetable broth segment is expected to register the highest CAGR during the forecast period. The food and beverage industry are one of the prominent end users of broths. As the broth is extensively used in food & beverage industry, it further drives the broth market growth.
In the Middle East & Africa, South Africa recorded the highest number of COVID-19 cases, followed by Saudi Arabia and the UAE. Lockdowns imposed by governments of the MEA countries caused notable disruptions in distribution networks, affecting the sales of various companies. However, the sales of immunity-boosting and healthy products have increased in these countries. The broth market across the region is projected to register growth in the coming years owing to the rising awareness regarding the benefits of broth and the increasing popularity of packaged food and beverages. Moreover, the increased popularity of convenience food during the pandemic has added to the demand for broth in the Middle East & Africa.
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