Bone broth is a soupy preparation of bone and bone cartilage of chicken or beef. Bone broth is consumed due to its versatile nutritional composition and high protein content.
Bone Broth Market: Introduction:
The bone broth is slow-cooked for more than half a day to form a uniform broth and its taste is welcomed across all the region. The bone broth is also processed into powder to form an animal protein additive.
The rising health and wellness food and beverage demand globally are anticipated to result in the extensive growth of the bone broth market. The products in bone broth market are targeted towards the consumer base looking for a benefiting animal source in a convenient and easy to consume way.
The bone broth products contain essential minerals such as calcium and magnesium in larger amount unlike other animal protein based products giving a competitive edge over other animal protein sources resulting in growing demand globally.
Bone Broth Market: Segmentation: Thebone broth market is segmented on the basis of origin, source, type, and distribution channel.
On the basis of origin, the bone broth market can be segmented into chicken and beef. The chicken segment is expected to dominate the global bone broth market regarded to its easy availability and larger acceptance over varied demographics.
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On the basis of source, the bone broth market can be segmented into organic and conventional. The organic segment is expected to dominate the global bone broth market owing to its preference by the targeted consumer base.
The conventional bone broth to see demand owing to its lesser cost.
On the basis of type, the bone broth market can be segmented into, ready-to-cook, ready-to-drink, and others. Ready-to-cook bone broth segment is expected to dominate over the forecast period due to flexibility in broth consistency according to the consumer.
The ready-to-drink segment to see higher growth rates resulted by increasing working population who prefer lesser preparation time.
On the basis of application, the bone broth market can be segmented into fortified foods, fortified beverages, dietary supplements and pharmaceuticals. Fortified food and fortified beverage are anticipated to dominate the global bone both market due to higher consumption by this sector.
On the basis of the distribution channel, the bone broth market can be segmented into direct and indirect. The indirect segment is further sub-segmented into modern trade, specialty stores, e-commerce and other store formats.
Bone Broth Market: Region-wise Outlook: North America and Europe to dominate the bone broth market over the forecast period owing to its rising protein consumption in the region. Also, the advent of fortified food preference in the region is anticipated to fuel the growth of the bone broth market in the region.
Asia-Pacific and Latin America to see substantial growth rates over the forecast period resulted by the increasing fortified food and beverage demand in the region. More both the region extensively follows the North American flooding trends which are also attributed to helping bone broth market to penetrate easily in the region.
The Middle East and Africa region with its growing urban population are anticipated to create a healthy demand for bone broth products over the forecast period.
Bone Broth Market: Drivers and Restraints: The global bone broth market is expected to be driven the growing fortified food and beverage industry and dietary supplement industry. The production of bone broth is cost-effective than other animal protein production and involves the use of by-product meat industry as input which is anticipated to drive manufacturers to invest more into the market making it more sustainable and profitable.
Added benefits like the presence of macro and micronutrient in good proportion with a high concentration of protein are expected to drive the consumer towards bone broth products as an alternative to other protein sources resulting in substantial growth over the forecast period.
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Presence of alternative product and advent of veganism is anticipated to result in restraint over the forecast period for the global bone broth market
Bone Broth Market: Key Players: The global player for the Bone Broth market are Vital Protein LLC., Kettle and Fire Inc., BRU Broth LLC., Paleo Pro LLC., Ancient Nutrition, Broth of Life, and Ostheobroth
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