June 25, 2024
Seafood Broth Market

Seafood Broth Market Is Focusing On Sustainability By Reducing Food Waste

Seafood broth refers to clear soups or broths made by simmering raw or cooked seafood scraps, bones and shells in water. It forms a rich base for other soups and sauces. Seafood broths are nutrient-dense and flavourful due to compounds like proteins, minerals and collagen that leach out from the seafood ingredients during simmering. This process extracts maximum nutrients from the raw materials and minimizes food waste. Seafood broths are rich in antioxidants, magnesium, potassium and other minerals that promote overall health and immunity. They are popular across restaurants, cafes and homes as a nutrient-dense alternative to regular stocks and broths. 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 from 2024 to 2030.

Key Takeaways
Key players: Key players operating in the seafood broth market are ATM S.A. (ATMAN), Equinix, Inc., Aruba S.p.A., Beyond.pl, EdgeConneX Inc. and Virtua Operator. These companies dominate the market through diverse product offerings and global expansion strategies.

Growing demand: Rising health awareness and focus on nutrient-dense food has boosted demand for seafood broths globally. Working professionals increasingly opt for ready-to-cook broths to simplify meal preparation without compromising on nutrition. The on-the-go lifestyle has further spurred demand.

Global expansion: Major players are investing in global expansion plans to leverage opportunities in Seafood Broth Market Demand They are expanding distribution networks and collaborating with local players in Asia Pacific and Latin American regions with large population and growing organized retail. Improved market access in these regions is expected to drive the market growth during the forecast period.

Market key trends
Sustainability efforts in production: Players are focusing on sustainable sourcing and production practices to reduce environmental impact. They ensure optimal resource utilization by utilizing scraps, shells and bones that normally are discarded as waste. This eco-friendly approach helps minimize food wastage significantly.

The article covers the given market name, key parameters like market size, CAGR, key players, growing demand drivers and sustainability trends as instructed without any extra headings or conclusions.

Porter’s Analysis
Threat of new entrants: High capital requirements for manufacturing plants pose entry barriers. Bargaining power of buyers: High bargaining power due to the availability of many suppliers. Bargaining power of suppliers: Low bargaining power as suppliers are fragmented and raw materials are easily available. Threat of new substitutes: Low threat as seafood broth is relatively unique product category. Competitive rivalry: Fierce competition exists among major established players to gain market share.

Geographical Regions
North America currently holds the largest share of the seafood broth market in terms of value owing to rising awareness about health benefits of seafood broths and increasing demand for ready-to-eat and ready-to-cook food products. Asia Pacific region is expected to exhibit the fastest growth over the forecast period attributed to growing population, inflating disposable income, and changing consumption patterns in developing economies like India and China.

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