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(Health-NewsWire.Net, June 24, 2020 ) Market Overview
The Global Bone broth Market is expected to grow at a CAGR during the forecasting period (2020-2027)
Bone broth is a reduction of a mixture of animal bones, cartilage, and connective tissue, as well as other flavorings that may include vegetables and spices. Bone broth can be used in various ways, for example as a beverage, or in casseroles, stews, curries and soups. Bone broth is known for its high-protein content, amino acids from collagen, and subsequent health benefits, such as support for digestive health. There are many types of bone broth on the market. The more commonly known varieties are beef, chicken and fish bone broth. These can be made at home as well as purchased in both dehydrated and liquid form. A more suitable option for vegetarians and vegans is vegetable broth.
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Market Dynamics
Increasing health and wellness food and beverage demand worldwide is the major driving factor for the growth of the market. There are many reasons for incorporating good-old-fashioned bone broth into the diet. The following health benefits attest to its status as "good medicine." It helps heal and seal the gut and promotes healthy digestion. The gelatin found in bone broth is a hydrophilic colloid. It attracts and holds liquids, including digestive juices, thereby supporting proper digestion. It reduces joint pain and inflammation, courtesy of chondroitin sulfates, glucosamine, and other compounds extracted from the boiled down cartilage. It promotes strong, healthy bones. Bone broth contains high amounts of calcium, magnesium, and other nutrients that play an important role in healthy bone formation. It promotes healthy hair and nail growth, thanks to the gelatin in the broth.
Consumers shift towards vegan and cruelty-free food is the major restraining factor hindering market growth globally.
Market Segmentation Analysis
On the basis of source, the bone broth market is divided into chicken, beef and fish. The global bone broth market size by a chicken was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The chicken segment is expected to hold the major market share in the forecast period. Bone broth may help people lose weight. It is high in protein, which helps the body feel fuller for longer and supports calorie restriction. A 2017 study in the Journal of Renal Nutrition points out that the average cup of chicken bone broth contains more protein than the average cup of basic chicken broth.
A chicken carcass that is complete with beak and claws may make a good basis for a bone broth. Companies are focusing to launch chicken bone broth that is rich in vitamins. For instance, In February 2019, LonoLife, a California-based brand focused on bringing consumers nutritionally-rich and convenient products like bone broth, collagen and more, announces its newest addition to its bone broth line: Keto Chicken Bone Broth.
By nature, the bone broth market is segmented into conventional and organic. The global bone broth market size by conventional was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
Based on the application, the bone broth market is classified into fortified food & beverage, pharmaceuticals and dietary supplements. The global bone broth market size by pharmaceuticals was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
By Distribution Channel, the bone broth market is segmented into Drug Stores, Speciality Stores, Hyper Markets and Online market. The global bone broth market size by drug stores was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.
Market Geographical Analysis
The North America bone broth market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. North America is expected to hold the major market share in the forecast period (2020-2027). The commercial bone broth consumer market is currently supplied by home-made producers and a few independent and specialized small-and-medium-sized companies in North America, especially in the USA. American broth producers, butchers and restaurants released their new category of bone broths and soups selling mainly online but also at grocery stores nationwide.
Since 2015, the trend has been spreading from the USA to cities across the world. The market segment in bone broth-based products is rapidly growing but still small-scale and mostly the US, but industrial bone broth production offers lots of business possibilities with a quick profit for meat and fish processors, food and beverage manufacturers and entrepreneurs and investors, for example in rendering sector.
Market Competitive Trends
The Bone Broth market is competitive with existing players in the market.
Some of the major players include Bare Bones Broth Co, LonoLife, Bonafide Provisions, Erie Bone Broth, Kettle & Fire, Inc, Left Coast Performance, Pacific Foods of Oregon LLC, Nutraholics and Ancient Brands LLC.
The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Bone Broth Market.
In September 2019, LonoLife, a California-based brand focused on bringing consumers nutritionally-rich and convenient products like bone broth, collagen and more, announces its newest addition to its bone broth line.
In February 2019, Bonafide company announced the launch of a line of Keto Broth Cups, which are frozen, heat-and-drink cups of bone broth and MCT oil.
Bare Bones Broth Co. continues to lead one of the hottest health-food trends by celebrating fall with the launch of a brand-new line of sippable bone broth flavors.
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