Seafood broth is rich in minerals, proteins, vitamins and other nutrients. It is used for cooking rice, soups and stew. The health benefits associated with seafood broth such as improving immunity, bone health and cardiovascular health have increased its demand worldwide.
The global Seafood Broth Market is estimated to be valued at US$ 862.39 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing health-conscious population has been a key trend driving the growth of the seafood broth market. There is a rising consumer awareness about the various health benefits of seafood broth as it is rich in important nutrients. Many consumers now prefer seafood broth over regular broth due to its nutritional superiority. This has encouraged food product manufacturers to offer more seafood-based broth options in the market. The demand for ready-to-eat seafood broth products has also increased owing to changing consumer lifestyles and busy schedules. Many leading players have launched innovative packaging and new product ranges to cater to this demand. This thriving product demand from health-conscious consumers is expected to further propel the seafood broth market expansion over the forecast period.
Segment Analysis
The global seafood broth market consists of different product segments. The crustacean broth segment held the largest share of over 30% in 2024 owing to high demand for shrimp and crab broth from foodservice outlets. Crustacean broth finds wide application in soups, sauces and seafood dishes. The fish broth segment is expected to witness the highest growth during the forecast period due rising popularity of fish-based broths among health conscious consumers.
Key Takeaways
The global Seafood Broth Market Share is expected to witness high growth during the forecast period. The global Seafood Broth Market is estimated to be valued at US$ 862.39 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.
Regional analysis Western Europe dominates the global seafood broth market, accounting for over 25% of the total market share in 2024. Countries such as France, Italy and Spain have emerged as major consumers of seafood broth products. Growth in the region is driven by rising popularity of seafood cuisines.
Key players operating in the seafood broth market are ATM S.A. (ATMAN), Equinix, Inc., Aruba S.p.A., Beyond.pl, EdgeConneX Inc., Virtua Operator, Exea Data Center, Comarch SA, OVH, T-Mobile Polska, SNP Poland Sp. z o.o.. ATM S.A. (ATMAN) is the leading player, specializing in production of crustacean and fish broths. The company has a strong distribution network across Europe and Asia Pacific.
For more insights, read- https://www.ukwebwire.com/seafood-broth-market-trends-size-and-share-analysis/
For more details on the report, Read- https://cmiinfopiece.blogspot.com/2024/01/the-global-luxury-travel-market-growth.html
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