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Bone broth has widely grown popular in recent years among the millennials and elderly alike due to its nutritional benefits, which is anticipated to boost its growth in the upcoming years further. It is helpful in improving joint health, bone strength, and knee health of the consumers and thus is gaining huge popularity among the consumers. Bone broth is prepared by boiling the bones of animals such as chicken, beef, pork, turkey, and others for nearly 8-24 hrs in water, vinegar, or wine with herbs, spices, and vegetables. It is typically consumed as a soup, stews, or sometimes as a broth base for noodles or rice. Bone broth contains several nutritional properties, such as help in supporting weight loss and reduces inflammation. According to a study published in Current Opinion in Clinical Nutrition and Metabolic Care, 2017 glutamine consumption helps heal intestinal barriers in humans.
The increase in consumption of healthy convenience food has positively aided in the sales performance of bone broth, as consumers are inclined towards products enriched with minerals to support their bodily functions. The upsurge in the number of the working population and their demand for affordable and easily accessible ready-to-eat food products is expected to increase demand.
Bone broth is rich in minerals such as calcium, magnesium, potassium, and other trace minerals that support the body's tensile strength. According to a study published in the National Center for Biotechnology Information (NCBI), 2018, connective tissue consumption provides glucosamine and chondroitin, present in the cartilage, that aids in supporting joint health. Thus, consumers are looking for convenient and affordable food products that provide them with essential nutrients and support their overall health, which is likely to boost the market growth. However, the availability of substitute products such as bone and joint health supplements that offer targeted benefits are likely to hamper the market growth.
Key Market Driver -
Increasing Focus of Consumers on Health and Fitness to Spur its Consumption
Key Market Restraint -
Presence of Substitute Products in the Market
The key companies operating in the global bone broth market are, Kettle & Fire Inc., Del Monte Foods Inc., The Paleo Broth Company, LonoLife, Bonafide Provisions LLC, Barebones Ventures, LLC, Zoup! Speciality Products, Campbell Soup Company, McCormick & Company Inc., and Unilever plc.
The chicken bone broth segment is likely to hold a major share in the market owing to its easy availability and wider acceptance in every part of the world. The beef bone broth segment is also witnessing significant demand in the market due to its few nutritional advantages over chicken, as it has more zinc and iron content.
Online retail stores are anticipated to account for the major share due to the consumers' increased reliability nowadays on these stores. A wide range of product availability in different brands and numerous discounts on the product prices have led to the consumers preferring the online retail stores for purchasing. Thus, it is expected to boost product sales via online retail positively.
North America is witnessing robust growth in the bone broth market due to increased consumption of convenience food products in the region. According to the SPINS data, 2017, the retail sales of shelf-stable bone broth in the U.S. increased by US$ 5.83 million in 2017 than the previous year. Its consumption has increased in the region as consumers embrace collagen-based foods to support their overall health, which is expected to boost bone broth's regional market performance.
Asia Pacific is exhibiting tremendous potential in market growth due to increasing health-consciousness among consumers. According to the United Nations, 2019, India's geriatric population is anticipated to increase by 20% by 2050. This has influenced the consumers in countries such as India and China to consumed such bone broths to support their overall health. Further, the rapid adoption of westernized culture is expected to fuel regional market growth.
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