Press release
Broth Market is projected to witness lucrative growth by reaching up to US$ 6.7 billion by 2030
Broth Market - DataM Intelligence
The Global Broth Market reached US$ 5.2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 6.7 billion by 2030. The market is growing at a CAGR of 3.4% during the forecast period 2023-2030.
The global broth market is poised for rapid growth in the forecast period, primarily propelled by increasing consumer awareness and the growing popularity of nutritious food options. The heightened focus on health-conscious choices has led to a surge in demand for various types of broths, including bone broth and vegetable broth. Consumers are increasingly recognizing the nutritional benefits associated with broths, such as their protein content and potential health-promoting properties.
A significant driver of this trend is the preference for organic and clean-label broth options. Consumers are actively seeking broths that are free from artificial additives and preservatives, aligning with their desire for natural and minimally processed food products. This preference for clean-label products is expected to further boost the market growth of broths, reflecting the broader shift toward healthier and more wholesome eating habits.
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Broth Market Trends
The market growth for broths is being driven by an increasing awareness of health consciousness among consumers. Broths, particularly bone broth, are recognized for their nutritional content, which includes essential nutrients like collagen, minerals, and amino acids. Health-conscious consumers are actively seeking natural and nutrient-rich food options, and broths align with this preference.
Consumers are becoming more discerning about the products they choose, paying close attention to labels and health claims. Broth manufacturers can capitalize on this trend by emphasizing the nutritional benefits, natural ingredients, and potential health effects of their products through clear and informative labeling. An example of this trend is reflected in Idahoan Foods' introduction of a new product, the Idahoan Chicken Broth Flavored Mashed Potatoes, demonstrating a commitment to offering diverse products that cater to the preferences of health-conscious consumers.
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Broth Market Segmentation
By Type
Chicken
Beef
Seafood
Vegetable
By Nature
Organic
Conventional
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Online Retail
Others
Broth Market Key Player
Major players are Manischewitz Co., Barebones Ventures LLC, Bonafide Provisions LLC, Kettle & Fire Inc., Zoup Specialty Products LLC, Campbell Soup Co., Epic Provisions LLC, Pacific Foods of Oregon, LLC, General Mills, and Progresso.
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