USD 218.4 Million Growth in US Meat Broth Market Size in 2021, Confirms GlobalData Plc

The latest market report titled United States (US) Meat Broth Market Size, Competitive Landscape, Distribution Channel, Consumer Trends, Packaging Insights, And Segment Forecast, 2021-2026 has been added to the report store by GlobalData Plc. The US meat broth market size valued at USD 218.4 million in 2021. The US meat market growth will be driven by the country’s affinity towards bone broth. It has emerged as a healthy choice for consumers and contributed to its sales. In addition to the health benefits, the broth is an easy-to-eat food which makes it a preferred choice for people across all demographics.

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US Meat Broth Market Dynamics

The rising popularity of bone broth in the US has been influential in driving market growth in the past few years. Bone broth is a nutritious soup made from beef and pork bones and cartilage or seafood meat with a longer cooking time compared to stock. Longer cooking time makes it a thinner and lighter soup to consume. Furthermore, the popularity of bone broth is further augmented by the growing fitness trend among consumers. The health benefits of broth appeal to individuals seeking to improve their health.

The surging popularity of the Paleo Diet including low-carb & high-protein intake also is expected to promote the use of broth. However, the growing consumers’ shift toward vegan and cruelty-free food might hamper the meat broth market growth in the US. Health is the primary motivator for consuming plant-based meat or dairy alternatives for most consumers. Additionally, consumers are also influenced by animal welfare and sustainability considerations when assessing plant-based alternatives.

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US Meat Broth Market Revenue Estimates by Distribution Channel

• Hypermarkets & Supermarkets: The segment held the largest US meat broth market share in 2021. The segment is likely to dominate the market growth during the next few years.
• Convenience Stores
• eRetailers
• Dollar Stores
• Food & Drinks Specialists
• Cash & Carries & Warehouse Clubs
• Others

US Meat Broth Market Revenue Estimates by Packaging

• Pack Material Analysis
  • Paper & Board: The segment accounted for the highest US meat broth market revenue in 2021. The paper & board segment will lead the market and dominate the revenue in 2026 as well.
  • Glass
  • Rigid Plastics
  • Rigid Metal
  • Flexible Packaging
• Closure Type Analysis
  • Prize Off: The prize off closure type segment accounted for the largest US meat broth market share in 2021 and the segment will drive the market throughout the forecast period till 2026.
  • Screw Top
  • Twist Off
  • None
• Pack Type Analysis
  • Jar: The jar segment was the US meat broth market leader in 2021 and will continue to lead the market throughout the forecast period till 2026.
  • Can
  • Tub
  • Bag/Sachet

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US Meat Broth Competitive Landscape

The competition in the US meat broth market can be characterized as fragmented and is dominated by the companies such as Campbell Soup Company, Del Monte Foods Inc., McCormick & Company, Inc., PACIFIC FOODS OF OREGON, LLC, and some private labels. These companies captured a sizeable market share in 2021 and are implementing strategies to sustain growing market competition. For instance, in August 2022, Del Monte Foods, Inc. announced the acquisition of Kitchen Basics from McCormick & Company, Inc. to enhance its product portfolio and national retail presence.

Top US Meat Broth Market Players

• Campbell Soup Company: The company produces and sells convenience food and beverage products. It merchandises and sells products through retail food chains, mass merchandisers, mass discounters, club stores, drug stores, convenience stores, dollar stores, and other retail, commercial, and non-commercial establishments.
• Del Monte Foods Inc.: The company produces, markets, and distributes food products including tomatoes, vegetables, fruits, and snacks. The company markets its products under the brands Del Monte, Contadina, College Inn, and S&W.
• McCormick & Company, Inc.: The company is engaged in the production, marketing, selling, and distribution of spices, seasoning mixes, condiments, and other flavors. It also markets seasoning blends, coating systems, and compound flavors.
• PACIFIC FOODS OF OREGON, LLC: The company is engaged in producing and distributing natural and organic food products. It offers broths, condensed soups, creamy soups, hearty carton soups, nut and grain beverages, almond beverages, hazelnut beverages, coconut beverages, and other types of special diets.

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About GlobalData

GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our mission is to help our clientele ranging from professionals within corporations, financial institutions, professional services, and government agencies to decode the future and profit from faster, more informed decisions. Continuously enriching 50+ terabytes of unique data and leveraging the collective expertise of over 2,000 in-house industry analysts, data scientists, and journalists, as well as a global community of industry professionals, we aim to provide decision-makers with timely, actionable insights.

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