Changing consumer preference toward nutritious food products is positively impacting the sales of bone broth protein. Expanding dietary supplement market is also accelerating the growth of the bone broth protein market, as a large portion of this protein is consumed in form of dietary supplements. With a fast-moving lifestyle and less time for preparing and consuming nutritious food products, consumers are looking for easy-to-make food products that are rich in vitamins and minerals. Availability of various flavors offered by manufacturers will give consumers various options to choose from. Healthy protein clubbed with tasty flavors is expected to attract fitness-oriented consumers to include such products in their diets. As per PMR analysis, the bone broth protein market is expected to expand twofold over the next ten years.
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- The global bone broth market is witnessing substantial growth and is expected to reach 3,466 tons by the end of the forecast period of 2020 to 2030. Application in various industries is benefitting market growth even further.
- On the basis of nature, conventional bone broth protein is dominating the market by value. The organic bone broth protein segment is expanding at a CAGR of nearly 8%, and is expected to reach US$ 9.5 Mn in market value by the end of 2030.
- In the end use segment, bone broth protein finds large application in dietary supplements. Dietary supplements account for around 54% market share in terms of value, and are expected to reach US$ 61 Mn by the end of 2030.
- Among the regions, North America is dominating the global bone broth protein market, and accounts for around 31.5% share of the market value. With a large part of the population preferring health-benefitting products, North America is expected to maintain its position through 2030.
- The COVID-19 pandemic is having a low impact on the global bone broth protein market, as demand for nutrition and health-benefitting products has been high despite the outbreak affecting most other businesses.
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Global Bone Broth Protein Market: Completive Landscape
Top players in the business of manufacturing bone broth protein are working for advancements in technology in processing units to cater to the demand for high quality products. Manufacturers are focusing on production of more organic products to meet consumer demand. They are taking initiatives to provide transparency and traceability of product offerings. Market players are building strong relationships with distribution channels, and this strategically helps companies increase product penetration among local players.
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