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| Seafood Broth Market |
Seafood broth is widely used in culinary preparations for its rich flavour, fragrance and nutritional qualities. It is derived from simmering bones and fish/shellfish heads, tails and shells in water for several hours. Seafood broth is a good source of protein, vitamins and minerals. It enhances the flavour and creaminess of soups and sauces. Furthermore, growing awareness about health benefits of seafood is driving its demand. 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 2030.
The global seafood broth market has witnessed significant growth over the past
few years owing to rising awareness about nutritional benefits of seafood among
consumers. Seafood broth contains high-quality protein, minerals and vitamins
that promote heart, brain and bone health. Moreover, it helps strengthen the
immune system and enhances digestive health. With increasing health
consciousness, demand for nutritious products based on seafood broth is rising.
Easy availability of seafood broth through e-commerce and retail stores has
also augmented its consumption globally.
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. These
players are focused on expanding their product portfolio and global footprint
through strategic collaborations and mergers & acquisitions.
The global
seafood broth market provides numerous growth opportunities such as product
launches with added functionality, formulations catering to specific health
needs and expansion in emerging economies.
Major
players are eying opportunities in Asia Pacific and Latin America owing to
changing food habits and growing affinity for seafood in the regions.
Investments in manufacturing and distribution facilities would help companies
leverage the high-growth potential of these emerging economies.
Market Drivers
Rising cases of chronic diseases: Seafood broth contains important nutrients
that help lower risks of heart diseases, diabetes and certain cancers. Growing
prevalence of lifestyle-induced chronic diseases is propelling the sale of
seafood broth products.
Increasing health and wellness trends: Changing lifestyles and growing health
consciousness is driving the demand for nutritious foods. Seafood broth fits
well with wellness trends owing to its numerous health benefits.
Market Restraints
Volatile prices of seafood: Unpredictable weather conditions and low harvest
volumes drive volatility in seafood prices. Price fluctuations pose challenges
for manufacturers and can negatively impact the seafood broth market.
Seasonality of seafood: Supply of many varieties of seafood depends on spawning
and harvesting seasons, which are temperature-driven. Off-season shortages can
restrict year-round availability of seafood broth.
Segment
Analysis
The Seafood
Broth Market Demand is
segmented on the basis of source into crab broth, shellfish broth, fish broth,
and others. Among these, the fish broth segment dominated the market in 2022
due to high demand for fish and fish-based food products. Fish broth contains
various vitamins, minerals and other nutrients which boosts immunity and
overall health. With growing consumer awareness about health benefits of fish
and fish-based products, the fish broth segment is expected to remain dominant
during the forecast period.
Global Analysis
On the regional front, Asia Pacific dominated the global seafood broth market
in 2022. Countries like China, Japan and India has high seafood consumption
which drives the demand for seafood broth in these countries. Asia Pacific is
also expected to remain the fastest growing region during the forecast period
due to growing population, rise in disposable income and increasing health
awareness. North America is another major region for seafood broth market due
to increasing demand for flavored broth and rise in number of specialty food
stores and restaurants offering seafood-based products. Europe is also expected
to showcase significant growth during the forecast period.
For more insights, read- Seafood
Broth Market
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