Home > Food & Beverages > Processed Food > Convenience Foods > Broth Market
Broth Market Size
Broth Market size is estimated to record substantial growth at more than 3.6% CAGR from 2023-2032. The surging consumer inclination towards health and wellness is expected to drive the demand for nutritious and beneficial broths. On account of their collagen and protein content as well as presence of health-promoting ingredients, broths have gained wide popularity in various diets. To that end, several product manufacturers are constantly introducing newer healthier broths to cater to the rising consumer requirements.
For example, in August 2021, Pacific Foods, Campbell Soup Co.’s subsidiary doubled down on its plant-based innovation with the launch of Creamy Plant-Based Broths and Creamy Oat Milk Soups. The rising emphasis on exploring new and diverse flavor profiles, ethnic-inspired & specialty broths will also play ideal role in the industry development.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 3.6% |
| Historical Data for: | 2023 to 2032 |
| No. of Pages: | 230 |
| Tables, Charts & Figures: | 348 |
| Segments covered: | Type and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Broth Market Growth Drivers & Restraints
The increasing focus of broth manufacturers on innovations, such as immune-boosting broth blends, single-serving broth packets, and premium as well as artisanal broth offerings will contribute to significant market growth. However, the presence of certain harmful flavouring agents, such as chemical additives and MSG in broths may limit the industry development to some extent.
COVID-19 Impact
The COVID-19 pandemic had significant impact on the industry growth mainly due to the rising consumer engagement in stockpiling and panic buying driven by temporary shortages of certain grocery items and the limited operations of restaurants. The higher concerns of food availability led to the surging demand for shelf-stable as well as long-lasting food products, such as canned and boxed broths. For instance, in November 2020, Coca-Cola collaborated with Kikkoman, major Japanese food manufacturer to provide traditional dashi soup in can format for catering to consumers looking for minimally human-handled and convenient packaged products during the pandemic. The surge in online grocery shopping also influenced the product uptake.
Broth Market Trends
The rising collaborative efforts by companies with restaurants for creating signature broth products, including soups, sauces, and ready-to-eat meals will open new opportunities for the market growth. For instance, in October 2022, Japan Rice and Rice Industry Export Promotion Association (JRE) partnered with Soup Restaurant to launch its JRE Set with two new rice-based offerings. The increasing emphasis by restaurants on culinary expertise and innovative recipes to elevate the quality as well as flavor profile of broth products will also enhance the industry development.
Broth Market Analysis
Shelf table broth market from the poultry segment is expected to garner significant revenue share by 2032. The growth can be attributed to the easy processing and affordability of poultry production. On account of its comforting qualities, culinary versatility, and nutritional value, chicken broth has garnered immense demand to render savory flavor in soups, stews, sauces, and risottos. Moreover, the robust popularity of instant, canned and boxed chicken broth given its long shelf life will also contribute to the segment growth. To cite an instance, in February 2023, Z Natural Foods® introduced its new Instant Chicken Bone Broth Soup Base Powder to provide health benefits of bone broth through maximum convenience.
Shelf table broth market from the specialty gourmet channel segment generated substantial revenue in 2022 and is expected to grow at notable CAGR from 2023 to 2032 driven by the strong presence of abundant high-quality and unique food products. For instance, in January 2022, Zoup introduced Zoup! Good, Really Good® Soups, its new retail broth lineup of gourmet, shelf-stable soups to offer heat-and-eat convenience to consumers. The increasing number of specialty food markets and food halls comprising variety of products, such as gourmet broths will further accelerate the industry growth.
APAC broth market is poised to witness over 3.5% CAGR between 2023 and 2032 due to the rising shift to sustainable food production and sourcing. The rising burden of pregnancy sickness has surged the need for alternative drinks in regular diets for enhancing joint health. As per MSD Manual, nausea and vomiting affect nearly 80% of pregnant women. The growing adoption of plant-based diets has spurred the higher demand for vegetarian and vegan broths sourced from ingredients, such as mushrooms, seaweed, and vegetables. The burgeoning consumer health consciousness coupled with the rising disposable incomes in India, China and Malaysia will also favor the regional market growth.
Broth Market Share
Some of the major broth market players include
- Del Monte Foods (College Inn)
- Campbell Soup Company
- Unilever (Knorr)
- Pacific Foods of Oregon
- Manischewitz
- General Mills (Progresso)
Broth Industry News
- In November 2021, General Mills Inc announced its plans of considering the sale of Progresso, its soup brand and Helper, its ready-to-eat meals label for $3 billion.
- In August 2022, Del Monte Foods, Inc. acquired Kitchen Basics, McCormick & Company’s line of ready-to-use stocks and broths to extend its national retail presence.
Broth market research report includes in-depth coverage of the industry trends, with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:
Click here to Buy Section of this Report
By Type
- Refrigerated
- By Product
- Beef Broth
- Poultry Broth
- Vegetable Broth
- Others
- By Distribution Channel
- MultiOutlet
- Speciality Gourmet Channel
- Others
- By Product
- Shelf Stable
- By Product
- Beef Broth
- Poultry Broth
- Vegetable Broth
- Others
- By Distribution Channel
- MultiOutlet
- Speciality Gourmet Channel
- Others
- By Product
The above information has been provided for the following regions:
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Poland
- Asia Pacific
- China
- Japan
- South Korea
- Australia
- Malaysia
- Thailand
- LATAM
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
Frequently Asked Questions (FAQ) :