Report : South America Broth Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type (Chicken Broth, Beef Broth, Vegetable Broth, and Bone Broth), Sales Channel (DTC, Specialty Channel Retailers, Mass
Conventional Segment to Dominate South America Broth Market during 2020–2027
According to a new market research study on “South America Broth Market Forecast to 2027 – COVID-19 Impact and Analysis - By Product Type (Chicken Broth, Beef Broth, Vegetable Broth, and Bone Broth), Sales Channel (DTC, Specialty Channel Retailers, Mass Market Retailers, Club Retailers, Conventional Grocery Retailers, and Foodservice), and Nature (Organic and Conventional)”, the market is expected to reach US$ 1422.77 million by 2027 from US$ 1047.05 million in 2019; it is estimated to grow at a CAGR of 4.2% from 2020 to 2027. The report provides trends prevailing in the South America Broth market, and the drivers and restraints pertaining to the market growth. There has been a shift in the consumers preference towards food that provides health benefits as well as the retail industry is expanding along with high consumer reliability will drive the demand for Broth. However, stringent regulatory compliance during meat processing is going to hamper the market in developing countries in South America.
The Broth market in South America is segmented into product type, nature and distribution channel. Based on product type the market is segmented into Chicken broth, Beef broth, Vegetable broth and Bone broth. In 2019, the bone broth segment held the largest share of the South America Broth market. Bone broth is a soupy preparation of bone and bone cartilage of chicken or beef. The demand for bone broth is due to its versatile nutritional composition and the high protein content. Bone broth protein is a nutritional supplement which asserts to offer people the health benefits like weight loss, reduction in joint pain, reduction in skin aging, and reduced appetite. The bone broth protein is basically sourced from either a chicken bone or a beef bone by the manufacturers. 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. The rising health and wellness food and beverage demand are anticipated to result in the extensive growth of the bone broth market. However, the outbreak of COVID-19 and lockdown imposed by the governments across South America is anticipated to have a huge disruption in the growth of various industries across South America. The governments across South America are taking measure like travel bans, business shutdowns, and lockdown, which is expected to hamper the anticipated revenue generation and growth opportunities for coming months.
Del Monte Foods Inc., Campbell Soup Company, McCormick & Company Inc., Unilever, and Hain Celestial Group are among the leading companies in the South America Broth market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
- Chicken Broth
- Beef Broth
- Vegetable Broth
- Bone Broth
South America Broth market – by Distribution Channel
- Specialty Channel Retailers
- Mass Market Retailers
- Club Retailers
- Conventional Grocery Retailers
- Rest of SAM
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