February 22, 2024

Natural Broths Is Fastest Growing Segment Fueling The Growth Of Seafood Broth Market

Market Overview:

Seafood broth is made by simmering different types of seafood and bones to extract flavor. It adds aroma, depth of flavor and richness to sauces, soups and other dishes. Seafood broth is low in calories and fats but high in protein and nutrients. It serves as a healthy alternative to regular meat or vegetable broth.

Market key trends:

One of the key trends in the seafood broth market is the increasing popularity of natural broths. Consumers are preferring clean label products with simple and recognizable ingredients. They want to avoid artificial preservatives, colors and flavors in their food. As a result, the demand for natural or organic seafood broths made from fresh seafood and vegetables is rising.  For instance, Kettle Cuisine introduced its line of shelf-stable organic seafood stocks and broths made without preservatives or artificial ingredients.

Segment Analysis
The global seafood broth market is segmented by type into fish broth, shellfish broth and others. The shellfish broth segment dominates the market and accounts for nearly 35% of the total market share owing to high demand for shellfish broth in Asian cuisines. Shellfish broth has balanced flavors and texture that enhances the aroma and taste of various dishes.

Key Takeaways

The global seafood broth market is expected to witness high growth, exhibiting a CAGR of 3.9% over the forecast period of 2023 to 2030, due to increasing demand for healthy convenience food.

The global Seafood Broth Market Demand is estimated to be valued at US$ 748.6 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Regional analysis
The Asia Pacific region dominates the seafood broth market with over 40% share and is expected to witness the fastest growth owing to increasing health-conscious population demanding for healthier broth variants in various Asian cuisines.

Key players
Key players operating in the seafood broth market are Campbell Soup Company, Nestle S.A., The Kraft Heinz Company, Pacific Foods of Oregon, Bar Harbor Foods, BUMBLE BEE Seafoods, More Than Gourmet, Kettle Cuisine, Bonafide Provisions, College Inn. The Campbell Soup Company leads the market with their wide range of seafood broth products offered globally.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it