Product ID: UCMIG30I2274
Report ID:
UCMIG30I2274 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global broth market exhibited significant growth, surpassing USD 2.5 billion in 2019, and is projected to maintain a steady upward trajectory with a Compound Annual Growth Rate (CAGR) of over 3.5% between 2020 and 2026. This expansion is primarily attributed to the increasing awareness about health and wellness among consumers worldwide. As individuals become more conscious of their dietary choices, the manifold health benefits associated with broth consumption are poised to be a major driver of industry growth. Broths, known for their nutritional value and potential to support immunity and digestion, are gaining popularity as a health-promoting option. These factors collectively contribute to the positive market outlook for broths, as indicated by market research analysis.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Packaged Foods & Meats by segment aggregation, the contribution of the Packaged Foods & Meats in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG30I2274