Seafood Broth is Anticipated to Witness High Growth Owing to Increasing Nutritional Consciousness

Author : Vedant B | Published On : 02 May 2024

Seafood broth is a liquid stock made by extracting minerals, nutrients, and flavors from simmering seafood including fish, shrimp, and shellfish bones, heads and other edible parts in water. Seafood broth provides various nutritional benefits like proteins, minerals, vitamins, and other nutrients to the human body. It is a rich source of amino acids which helps in muscle building and improves digestive health. The need for seafood broth has increased significantly owing to rising health awareness among people regarding the nutritional value of seafood. Seafood broth contains rich amount of antioxidants and has anti-inflammatory properties which are beneficial for cancer prevention, heart health, and joint health.

The Global Seafood Broth Market is estimated to be valued at US$ 862.39 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 To 2031.

Key Takeaways

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. ATMAN is the leading producer of seafood broth with wide distribution network across European countries. Equinix, Inc. specializes in shellfish broth and has strong presence in North American market.

The seafood broth market offers tremendous growth opportunities owing to rising focus on immunity boosting products post COVID-19 pandemic. Demand for organic and healthier broth options is increasing significantly among health conscious consumers. The manufacturers are investing in R&D to develop innovative broths infused with superfoods and medicinal herbs to capture untapped opportunities.

The key players are expanding their geographical presence by entering emerging markets of Asia Pacific and Latin America. Beyond.pl has started production facilities in India and Vietnam to cater growing demand from Southeast Asian countries. Aruba S.p.A established new production plants in Brazil and Mexico in 2023.

Market Drivers

Increasing cases of chronic diseases: Rising prevalence of lifestyle diseases like diabetes, cardiovascular issues, and obesity has increased the demand for nutrient-rich seafood broth. People are incorporating it in their daily diet for its numerous health benefits.
Growth of food service industry: Expanding foodservice sector including hotels, restaurants, and catering businesses has elevated the demand for seafood broth for various culinary applications like soups, sauces, and gravies preparation.

Market Restraints

High price compared to plant-based broths: Seafood broths have higher price point compared to readily available plant-based broth options like vegetable and mushroom broths which restricts its mass consumption.
Volatility in seafood prices: The prices of seafood including fish, shrimps depends on international trade and demand-supply dynamics. Any fluctuation in seafood prices impacts the overall production cost of seafood broth.

Segment Analysis
The seafood broth market is dominated by shellfish broth sub segment as shellfish delivers higher nutritional value than other seafood. Shellfish broth is rich in proteins, minerals, vitamins and other nutrients. It is low in calories and fat making it popular among health conscious consumers. Shellfish broth sub segment accounts for over 35% of the overall seafood broth market share owing to increasing demand for nutritious food products.

Global Analysis
Asia Pacific dominates the global seafood broth market with over 45% share primarily attributed to China and Japan. Both nations have seafood broth integrated deeply in their cuisines. Increasing health awareness and fast paced lifestyle have further propelled demand for ready-to-cook seafood broth products in the region. Europe accounts for second largest seafood broth market on the back of rising vegan and flexitarian population gravitating toward seafood based broth. North America is fastest growing regional market for seafood broth driven by growing Hispanic population preferring seafood broth in soups and stews along with focus on organic and natural food products.

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