Global Bone Broth Market Size to Exceed USD 1.94 Billion by 2033 | CAGR of 5.93%
Category: Food & BeveragesGlobal Bone Broth Market Size to Exceed USD 1.94 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Bone Broth Market Size Expected to Grow from USD 1.09 Billion in 2023 to USD 1.94 Billion by 2033, at a CAGR of 5.93% during the forecast period 2023-2033.
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Browse key industry insights spread across 235 pages with 100 Market data tables and figures & charts from the report on the “Global Bone Broth Market Size, Share, and COVID-19 Impact Analysis, By Type (Chicken, Beef, Turkey, and Others), By Distribution Channel (Food Service and Retail), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.” Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/bone-broth-market
The industry that manufactures, markets, and distributes brain broth a nutrient-dense product derived from animal bone, cartilage, and connective tissues is known as the bone broth market. The result is a healthy stock that may be used to make soups, stews, gravies, sauces, and more. In addition to its many health advantages, bone broth gives a variety of foods a unique flavor. Additionally, growing public awareness of the benefits of eating organic food is driving the market's expansion, which is also driving the growth of the bone broth protein market. The market for bone broth is expanding due in large part to consumers' increased health consciousness, which places a greater emphasis on nutrient-dense foods for a healthy lifestyle. Additionally, the growing use of bone broth protein in the food industry is driving the demand for bone broth. As a result, the market for bone broth is anticipated to rise during the projected year due to the increasing demand for organic products and the growing use of dietary supplements. Furthermore, between 91 and 92 percent of individuals globally are non-vegetarians, meaning they are neither vegans nor ovo-lacto-vegetarians, according to an Ipsos Mori survey. The significant increase in the number of persons following non-vegetarian diets is also driving the market for bone broth. Also, in 2022, the prevalence of arthritis increased with age, from 3.6% in the 18–34 age group to 53.9% in the 75+ age group. The market for bone broth is being driven by the notable rise in bone-related conditions, such as arthritis and other associated conditions.
The chicken segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
The global bone broth market is segmented by type into chicken, beef, turkey, and others. Among these, the chicken segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Demand has increased due to its affordability, accessibility, and adaptability to a variety of cooking techniques. Chicken is one of the most popular meats since it is thought to be a healthier source of protein than other kinds. This raises the possibility that demand for bone broth will increase.
The food service segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the distribution channel, the global bone broth market is categorized as food service and retail. Among these, the segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. This is due to eating out has become more popular, and the flavor of meals created with fewer ingredients has improved, which has had a big impact on product uptake. This broth is mostly used in processed fish, pig, and poultry items to improve the juiciness and flavor of the flesh.
North America is projected to hold the largest share of the global bone broth market over the forecast period.
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North America is projected to hold the largest share of the global bone broth market over the forecast period. The market is expanding primarily as a result of factors like rising poultry consumption and the number of animal rendering factories. Approximately 300 rendering operations produce nearly 22.1 million pounds of rendered goods annually, according to the "National Renderers Association." As an outcome, the probability of bone processing is growing, which increases the production of bone broth
Europe is expected to grow at the fastest CAGR growth of the global bone broth market during the forecast period. High levels of disposable income and the rising demand for healthful, organic foods are the causes of this. The current significant trend of health and wellness food items in the European food processing industry is driving demand for bone-based broths.
Major vendors in the global bone broth market are Campbell Soup Company, Del Monte Foods, Inc. (College Inn), Brodo, Ossa Organic, Australian Bone Broth Co, Left Coast Performance, Ancient Nutrition, NOW Foods, Barebones Ventures, LLC, Organixx, Nutra Organics Pty Ltd, Peak Performance, Kettle Tonic, Goofy Tails, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Developments
- In April 2023, Paleo Ridge, a dog food manufacturer based in the United Kingdom, added three new flavors to its existing bone-broth line: chicken, lamb, and beef. These products support the objective of encouraging a healthy lifestyle through a natural diet because of their natural ingredient composition.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global bone broth market based on the below-mentioned segments:
Global Bone Broth Market, By Type
- Chicken
- Beef
- Turkey
- Others
Global Bone Broth Market, By Distribution Channel
- Food Service
- Retail
Global Bone Broth Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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