PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454006
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454006
According to Stratistics MRC, the Global Bone Broth Market is accounted for $1.10 billion in 2023 and is expected to reach $1.87 billion by 2030 growing at a CAGR of 7.9% during the forecast period. Bone broth is a nutrient-rich liquid made by simmering animal bones and connective tissues in water for an extended period of time. It is commonly prepared with ingredients such as beef, chicken, or fish bones, often with added vegetables, herbs, and spices. Bone broth is praised for its potential health benefits, including supporting joint health, improving digestion, boosting immunity, and promoting skin health. It has gained popularity as a traditional remedy and a culinary staple in various cuisines worldwide.
According to the U.S. Department of Agriculture (USDA), a government agency, the prices of beef and pork increased significantly by 8.9% and 5.7% in 2020 across the U.S. market.
Rise in paleo and ketogenic diets
The popularity of the paleo and ketogenic diets, which emphasize low-carb, high-protein, and high-fat foods, contributed to the increased demand for bone broth. Bone broth aligns with these diets' principles as it is low in carbohydrates and rich in collagen and healthy fats. As consumers increasingly adopt paleo and keto lifestyles for health and weight management reasons, the demand for bone broth as a convenient and nutritious food option continues to rise, driving growth in the bone broth market.
High production costs
Producing high-quality bone broth involves sourcing quality ingredients, such as organic bones and vegetables, which can be expensive. Additionally, the slow cooking process required to extract the nutrients and flavors from the bones and other ingredients adds to the production costs. This slow simmering process not only requires time but also consumes energy, further contributing to the overall expense. As a result, high production cost is a significant element limiting market expansion.
Increased availability and variety
Manufacturers have responded to the rising demand by offering bone broth in various convenient forms, including shelf-stable liquid, powdered, and frozen options. This expanded availability makes bone broth more accessible to consumers, whether they prefer to make it from scratch or purchase it ready-made. Additionally, the proliferation of bone broth in grocery stores, health food stores, and online platforms has made it easier for consumers to incorporate this nutritious beverage into their diets. Therefore, increased availability and variety are significant factors propelling market demand.
Short shelf life
Bone broth is a perishable product with a relatively short shelf life, especially if it does not contain any preservatives. As a perishable product, bone broth requires careful handling and storage to maintain its quality and safety. However, improper storage conditions, such as exposure to fluctuating temperatures or contamination, can accelerate spoilage and reduce the shelf life even further. This can create challenges in terms of inventory management, distribution logistics, and overall product availability. These factors hinder market demand.
Covid-19 Impact
The COVID-19 pandemic had a significant impact on the bone broth market. There has been increased consumer interest in health and wellness products, including bone broth, as people seek to bolster their immune systems and overall well-being. Moreover, this heightened awareness of health benefits has driven some consumers to incorporate bone broth into their diets, leading to a surge in demand during the pandemic.
The chicken segment is expected to be the largest during the forecast period
The chicken segment is estimated to hold the largest share. Made by simmering chicken bones and connective tissues with water, chicken bone broth offers a rich, savory flavour profile that appeals to a wide range of consumers. Its mild taste makes it suitable for various culinary applications, from soups and stews to sauces and gravies. It is rich in collagen, gelatin, and amino acids, which are essential for supporting joint health, promoting gut integrity, and enhancing skin elasticity. Additionally, chicken bone broth is often fortified with vegetables, herbs, and spices, further enhancing its flavour and nutrient profile.
The organic segment is expected to have the highest CAGR during the forecast period
The organic segment is anticipated to have lucrative growth during the forecast period, due to growing consumer preferences for natural, sustainably sourced foods. Organic bone broth is made from ingredients that are produced without the use of synthetic pesticides, herbicides, fertilizers, or genetically modified organisms. Moreover, organic bone broth is also perceived as more environmentally friendly, as organic farming practices prioritize soil health, biodiversity, and conservation.
North America commanded the largest market share during the extrapolated period. The region had a strong emphasis on health and wellness trends, with consumers increasingly seeking out natural and nutrient-dense food options. The rise of popular diets like paleo and ketogenic diets, which emphasize low-carb, high-protein foods, further contributed to the demand for bone broth. Moreover, North America had a well-established wellness industry, including fitness centers, health coaches, and influencers, who played a significant role in promoting bone broth as part of a healthy lifestyle.
Europe is expected to witness profitable growth over the projection period. Consumers are attracted to bone broth for its collagen content, which is believed to support joint health, promote gut health, and enhance skin elasticity. Additionally, bone broth's rich flavor profile and versatility in cooking make it a favourite among European consumers looking to incorporate nutritious ingredients into their meals. Moreover, the rise of specialty food stores and online retailers has made bone broth more accessible to European consumers, contributing to its growing popularity across the region.
Key players in the market
Some of the key players in the Bone Broth Market include Ancient Nutrition, Kettle & Fire, Bare Bones Broth Co., Green Pasture Farms, Fond Bone Broth LLC., Bluebird Provisions, Essentia Proteins, Del Monte Foods, Campbell Soup Company, Bonafide Provisions and Pacific Foods of Oregon LLC.
In May 2023, Fresh Del Monte entered into a partnership with plant-based food company Vertage as part of its ongoing commitment to sustainability and healthy living. The partnership will enable Vertage to expand the reach of its products, which include dairy-free cheeses, to consumers.
In February 2022, Ancient Nutrition entered into a scientific research partnership with Rodale Institute, a purpose driven non-profit and a founder of the modern regenerative organic movement. This partnership will advance Ancient Nutrition's efforts to heal the planet through agricultural transformation.
In July 2021, Kettle & Fire, one of the fastest growing bone broth brands offering a variety of shelf-stable broths, announced the introduction of its first bone broth made using bones sourced exclusively from regenerative farms.