At 2.8% CAGR, the North America Broth Market is speculated to be worth US$ 2,262.18 million by 2028, says The Insight Partners
According to The Insight Partners’ research, the North America broth market was valued at US$ 1,916.79 million in 2022 and is expected to reach US$ 2,262.18 million by 2028, registering a CAGR of 2.8% from 2022 to 2028. Consumer inclination toward nutritional food and proliferation of e-commerce industry are the critical factors attributed to the North America broth market expansion.
Owing to hectic work schedules and extended working hours, people pay less attention to their daily diet, health, and fitness. As a result, awareness regarding health and nutrition has increased significantly in the last few years. Thus, there has been a rapid shift in consumer food preferences with increasing health concerns. According to the Nielsen Global Health and Wellness report, 2020, half of the global respondents were overweight while half were trying to lose weight. Consumers have become more aware of what they eat. People seek fresh products that are natural, organic, and minimally processed. Youngsters are most willing to purchase premium goods with health claims, as this demographic group shows more flexibility toward adopting healthier food habits. Broth made from fresh vegetables, bones, and meat have gained tremendous popularity due to various health benefits and nutritional value associated with them. The demand for different broth types is increasing, as they help improve immunity, hydration, and muscle protein synthesis; support joint and bone health; and exhibit antiaging properties. The inclusion of macronutrients and micronutrients in a good proportion with a high concentration of proteins drives the popularity of bone broth among consumers as an alternative to other protein sources. Bone broth is a source of gelatin, which may break down into collagen in the body. The collagen produced through the breakdown of the gelatin content can improve knee joint symptoms in osteoarthritis, such as pain, stiffness, and poorer physical function. Furthermore, glutamine and a few more amino acids present in bone broth may also aid in effective digestion. This may help with conditions such as leaky gut, which is characterized by the irritation of the mucosal lining in the intestines and interference with the body’s ability to digest food. The consumption of broth may also help people lose weight. It is high in protein, which helps the body feel fuller for longer spans alongside meeting calorie restrictions. Moreover, drinking broth or making a simple soup may be perceived as a beneficial way to enhance protein content in the diet, without feeling unsatisfied with a meal. Thus, consumer inclination toward nutritious food is contributing to the growth of the North America broth market.
On the contrary, stringent regulatory compliance requirements associated with meat processing hurdles the growth of North America broth market.
Based on type, the North America broth market is segmented into chicken broth, beef broth, seafood broth, vegetable broth, and others. The chicken broth segment held 47.1% share of North America broth market in 2022, amassing US$ 902.49 million. It is projected to garner US$ 1,061.64 million by 2028 to expand at 2.7% CAGR during 2022–2028.
Based on category, the North America broth market is bifurcated into organic and conventional. The conventional segment held 69.0% share of North America broth market in 2022, amassing US$ 1,323.28 million. It is projected to garner US$ 1,536.60 million by 2028 to expand at 2.5% CAGR during 2022–2028.
Based on distribution channel, the North America broth market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held 50.6% share of North America broth market in 2022, amassing US$ 970.28 million. It is projected to garner US$ 1,122.15 million by 2028 to expand at 2.5% CAGR during 2022–2028.
Based on country, the North America broth market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 71.0% share of North America broth market in 2022. It was assessed at US$ 1,360.92 million in 2022 and is likely to hit US$ 1,581.04 million by 2028, exhibiting a CAGR of 2.5% during the forecast period.
Key players profiles in the North America broth market report Barebones Ventures LLC; Bonafide Provisions LLC; Campbell Soup Co; Del monte Foods Inc; Epic Provisions LLC; Kettle & Fire Inc; Look's Gourmet Food Company Inc; The Hain Celestial Group Inc; The Manischewits Co; and Zoup Specialty Products LLC, among others.
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com