Broth Market is estimated to be US$ 11.73 billion by 2032; Rise In Demand of Nutrition Rich Foods to Fuel Market Growth – By PMI

Covina, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Broth, often referred to as broth or bouillon, is a flavorful liquid made by simmering meat, bones, vegetables, and seasonings in water. It serves as a fundamental ingredient in many culinary applications, adding depth of flavor, moisture, and richness to a variety of dishes. Broth can be a source of nutrients like protein, vitamins, and minerals, depending on the ingredients used.          

The future growth of the Broth Market is expected to be driven by consumer preferences for health-conscious, convenient, and sustainable food options. Broth's versatility, adaptability to various culinary traditions, and potential health benefits position it as a staple in modern kitchens and a promising product category in the food industry.

Key Highlights –

• In August 2022, Idahoan Foods Launched New Chicken Broth Flavored Mashed Potatoes Inspired by Home Cooks. Fans will still enjoy the same fantastic texture and rapid prep time of chicken broth-flavored mashed potatoes, but there will be an additional flavor layer from the addition of herbs and actual chicken broth. The new product joins a long list of Flavored Mashed Potatoes, which are offered in 16 different flavors, providing customers with options for every meal occasion.

Analyst View –

Consumers are increasingly looking for nutritious and wholesome food options. Broth, especially when made from high-quality ingredients, is perceived as a healthy choice due to its protein content, low-calorie profile, and potential health benefits. As a result, plant-based broth options, such as vegetable broth and mushroom broth, are gaining popularity among health-conscious and environmentally aware consumers.

Report Scope:

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Key players:

• Campbell Soup Company
• Pacific Foods of Oregon
• College Inn
• Progresso SA
• Knorr Food Co Ltd.
• Manischewitz Company Inc.
• Paleo Broth Company
• Bonafide Provisions
• Bare Bones Broth

What is the outlook for mergers, acquisitions, and partnerships within the Broth Market?

1. Mergers and Acquisitions (M&A): M&A activities in the Broth Market can be driven by several factors:

• Consolidation: Larger companies may acquire smaller ones to consolidate their market presence and expand their product portfolios. This can lead to increased competition and the introduction of new flavors and variants.
• Geographic Expansion: Companies looking to enter new markets may acquire local broth producers to establish a foothold in regions with growing demand for broth products.
• Diversification: Food conglomerates may acquire broth manufacturers as part of their strategy to diversify their product offerings and cater to changing consumer preferences for healthy and convenient foods.
• Innovation: Acquisitions can also be driven by the desire to acquire innovative technologies or production methods that enhance broth quality and shelf life.

2. Partnerships and Collaborations:

• Ingredient Suppliers: Broth manufacturers may form partnerships with ingredient suppliers to ensure a consistent and high-quality supply of ingredients like bones, vegetables, and seasonings.
• Retailers: Collaboration with retailers can lead to exclusive product lines and greater shelf visibility, benefiting both parties by catering to consumer demand for convenience.
• Sustainability Initiatives: Partnerships with sustainable agriculture and animal welfare organizations may become more common as consumers seek ethical and environmentally responsible products.
• Health and Wellness: Collaborations with health and wellness organizations or nutritionists can help market broths as a nutritious and beneficial food choice.

3. Private Equity Investments:

Private equity firms may invest in broth manufacturers with growth potential to optimize operations, expand market reach, and enhance product offerings.

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KEY QUESTIONS ANSWERED:

1. What is the current market size and growth rate of the Broth Market?
2. What are the key drivers of demand for broth products in the market?
3. Who are the major players in the Broth Market, and what is their market share?
4. What are the emerging trends in the Broth Market?
5. What is the impact of health and wellness trends on the Broth Market?
6. What are the distribution channels and retail trends in the Broth Market, including e-commerce and direct-to-consumer sales?
7. How are competitors positioning themselves in the market, and what are their marketing strategies?
8. What is the outlook for the Broth Market in terms of future growth, challenges, and opportunities?

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