Global Broth Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions |Unilever PLC, Ajinomoto Co. Inc., Campbell Soup Company, McCormick & Company Inc., The Hain Celestial Group Inc

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Overview and Scope
The broth is a flavorful liquid made by simmering meat, bones, vegetables, or herbs in water. It is commonly used as a base for soups, stews, sauces, and other dishes and is seasoned with salt, herbs, and spices to enhance its flavor.

Sizing and Forecast
The broth market size has grown strongly in recent years. It will grow from $4.83 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to rising interest in natural and organic foods, health and wellness trends, convenience and ready-to-eat foods, focus on sustainability and ethical sourcing, culinary trends and fusion cuisine.

The broth market size is expected to see strong growth in the next few years. It will grow to $6.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to plant-based and alternative broths, e-commerce and online retailing, functional and health-boosting ingredients, globalization of culinary preferences, rise of broth-based beverages. Major trends in the forecast period include innovative packaging solutions, collaborations and limited edition offerings, broth subscription services, transparency in labeling and sourcing, broth-based snacks and condiments.

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Segmentation & Regional Insights
The broth market covered in this report is segmented –
1) By Type: Chicken Broth, Beef Broth, Vegetable Broth, Seafood Broth, Other Types
2) By Category: Organic, Conventional
3) By Nature: Shelf Stable, Refrigerated
4) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Online Retail, Other Distribution Channels

North America was the largest region in the broth market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the broth market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rising fortified food and beverage industry is expected to propel the growth of the broth market going forward. Fortified food and beverage refer to products enriched with additional nutrients that are not naturally present or are present in insufficient amounts. Broth, especially bone broth, is perceived as a nutritious and natural source of vitamins, minerals, and proteins, which drives its popularity among health-conscious consumers. For instance, in February 2022, according to the report published by Agriculture and Agri-Food Canada, a Canada-based government agency, the retail sales value of fortified or functional foods and beverages in the United States increased to $68.9 billion in 2021, In addition, they are projected to reach $79.1 billion in 2025, up 3.5% compared to 2021. Therefore, the rising fortified food and beverage industry drives the broth market.

Key Industry Players
Major companies operating in the broth market report are Unilever plc, Ajinomoto Co. Inc., Campbell Soup Company, McCormick & Company Inc., The Hain Celestial Group Inc., Del Monte Foods Inc., Goya Foods, Swanson Health Products, Pacific Foods of Oregon LLC, Old Neighborhood Foods, Custom Culinary Inc., Frontier Natural Products Co-op, Progresso, Belcampo Group Inc., Look’s Gourmet Food Company Inc., The Manischewitz Company, Kettle & Fire Inc., Shalit Foods Inc., LorAnn Oils, College Inn, Savory Creations International Inc., LonoLife, Paleo Broth Company LLC, BRODO Kitchen, Bonafide Provisions LLC, Bone Broths Co., Osso Good Co., and Barebones Ventures LLC.

The broth market report table of contents includes:
1. Executive Summary
2. Broth Market Characteristics
3. Broth Market Trends And Strategies
4. Broth Market – Macro Economic Scenario
5. Global Broth Market Size and Growth
…………
32. Global Broth Market Competitive Benchmarking
33. Global Broth Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Broth Market
35. Broth Market Future Outlook and Potential Analysis
36. Appendix