Bouillon Cubes Market Research Report - Global Forecast till 2030

Global Bouillon Cubes Market Research Report by Type (Vegetable, Beef, Chicken, Fish, Others), Distribution channel (Store-Based (Supermarkets & Hypermarkets, Convenience Stores, and Others), Non-Store-Based), and Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2030

ID: MRFR/F-B & N/3586-HCR | December 2022 | Region: Global | 110 Pages         

Bouillon Cubes Market

Bouillon Cubes Market is projected to reach approximately USD 6.45 billion by 2030 and grow at a significant CAGR of 4.82% during the forecast period 2022-2030.

Segmentation

By Type Vegetable Beef Chicken Fish
By Distribution channel Store-Based Non-Store-Based
By Region North America Europe Asia-Pacific Rest of the World

Key Players

  • Nestle S.A.
  • Goya Foods Inc
  • International Dehydrated Foods Inc.
  • The Unilever Group
  • Proliver Bvba
  • Southern Mills Inc.
  • Henningsen Foods Inc.
  • McCormick & Company
  • The Kraft Heinz Company
  • Hormel Foods Corporation

Drivers

  • Rising Number of Working Population has Led
  • Increased Demand for Convenience Food
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Bouillon Cubes Market Overview


The bouillon cubes market is expected to gain a market value of USD 6.45 billion by 2030 by 2030 at a CAGR of 4.82% from 2022-2030.


Bouillon cubes are solid cubes made of dehydrated vegetables, meat, or fish stock. The manufacturing process begins with drying the ingredients under low temperatures and high pressure to remove the moisture from them. Bouillon cubes add flavor to dishes such as soups and stews.


The major factors for significant growth in the bouillon cubes market can be attributed to the increasing awareness of fortified foods, rising disposable income, high per capita expenditure on prepared food, boosted retail formats, growing awareness among consumers about bouillon products, rising demand for vegan food products, increasing demand for organic bouillon as well as growing demand for processed food products. Furthermore, high-salt content can increase blood pressure, negatively affecting an individual's health and hampering the market growth. In addition, the lack of a supply chain and the high price of bouillion products are expected to restrain the market growth, as these products need timely delivery and sale to prevent product expiry. However, companies are developing new product designs at a rapid pace, following the latest consumer preferences to market their products and gain a larger market share. High disposable income and advanced lifestyles are driving market growth in Europe and North America. The Asia-Pacific has a lot of potentials and will likely sustain significant growth in the coming years. It is mainly due to the increasing adoption of Western culture, which allows people and companies to live and work in style.


COVID-19 Analysis


COVID-19 is an international public health emergency that has affected almost every industry, and the long-term effects are projected to impact industry growth during the forecast period. The patterns of demand and manufacturing are different in regional and global locations, affecting the demand's ability to function. The practical restrictions imposed were also adding to the difficulty. However, the government is investing in research and development techniques to help the bouillon cubes market grow internationally. With their investment, producers can gain more money for their product, and the target consumer will experience specific benefits as a result. The key players in the industry are getting ahead with innovations and creative product launches on a wide scale. This allows vendors to be able to identify their products and also demand by their availability.


Market Dynamics


Drivers


The Chinese Bouillon cube trade manufacturers have listed themselves with the famous online shopping website Alibaba for online trading and expanding their delivery scope to their audience across the globe. This new-founded ease and convenience are likely to act as a major driving force for the market and hence, help the product variety gain a larger momentum during the forecast period. Also, the target audience is witnessing an increase in information and awareness related to the health benefits brought in by these products which will lead the bouillon cubes market on its way of global growth.


Restraints


Unavailability of products and unawareness of health products in the less-developed countries are two major restraints that pose challenges for the bouillon cubes market on the path of its growth. The rise in disposable income of people is pushing them to opt for these products and enhanced retail formats. So, the products quickly go out of stock. In the developing and developed nations, the food and manufacturing industry is still in the growth zone and there is a major requirement to spread health-related information and awareness amongst the target audience for these cubes.


Technology Analysis


The significant growth of the bouillon cubes market during the forecast period is a result of the attempt of the innovative product launch and steps towards creating awareness related to fortified foods amongst the developing and developed nations. People with a high per capita income are increasing their expenditure towards prepared food and this is helping the bouillon products enjoy momentum on a larger scale. The larger quantum of demand that will help the market grow belongs to vegan food products, processed food products, and organic bouillon which have positive attributes for the market during the forecast period that ends in 2030.


Study Objectives



  • To have meaningful market insights and overview alongside the viewpoints as put forward by the industry leaders and experts to predict the CAGR rate of growth of the market and the market valuation.

  • To study the scope of the bouillon cubes market during the forecast period by noticing the market trends and segment performance in major geographical regions of the globe

  • To have an overview of the competitive degree prevailing in the market amongst the key market players during the period and also, analyze the recent developments undertaken by the regional players for global competition


Segment Overview


Based on the demands and allocation of the target audience, the bouillon cubes market value is determined by the revenue gained by various market segments functional across various global locations. The report helps in understanding the potential of these segments in their area of functioning. The market has been segmented based on the following:


Product Type


Owing to the different types of consumers like vegetarian, vegan, eggetarian, and non-vegetarian amongst others, the bouillon cubes market offers a variety of products that can be demanded based on preference. These are vegetable cubes, fish cubes, beef, and chicken cubes amongst the rest.


Distribution Channel


The market players make sure that the products offered to reach the end-users through the distribution channels like the store-based lanes and the non-store-based ones.


Geographical Regions


Owing to the trends prevailing, the rise in population, and the convenience offered by the bouillon cubes industry, the market is currently functional in 4 major regions of the world. These are North America, the APAC region, the European countries, and the bouillon cubes market, alongside the rest of the world (RoW). The ease of adding taste to various food products while cooking and consumption offered is likely to promise the market with good growth rate and market valuation.


Regional Analysis


The European regions are likely to dominate the global growth for bouillon products during the forecast period and the regional market is likely to attain a market valuation of USD 4.6 billion. The North American regions are expected to enjoy the second largest market growth during the forecast period. The main reason behind this trend in these regions is the rise of disposable income of people and their willingness to lead an advanced lifestyle.


Following these regions on a similar path, the APAC region, alongside the rest of the world, is taking up lucrative opportunities for new market segments as the population is rising in major countries like India and China. The regions are on the way to adopt western culture for both professional and personal means. The demand for cube and other liquid products will increase in these regions.


Competitive Landscape


The key bouillon cubes market players are developing new product tastes and designed based on the prevailing and fresh consumer preferences packed with the health benefits are as follows:



  • Nestle S.A.

  • Goya Foods, Inc

  • International Dehydrated Foods, Inc.

  • The Unilever Group

  • Proliver Bvba

  • Southern Mills, Inc.

  • Henningsen Foods, Inc.

  • McCormick & Company

  • The Kraft Heinz Company

  • Hormel Foods Corporation


Recent Developments



  •  In 2020, Nestle S.A. announced the launch of Maggi Organic Bouillon cubes in a recyclable paper wrapper.

  •  In 2020, Oxo announced the launch of vegan beef-flavored stock cubes owing to increased demand from the vegan population.


Report Overview


The report is useful in providing the bouillon cubes market insights and performance of segments in 4 major world geographies. The report helps to analyze the market scope by discussing the recent developments of the players in the regions and also, understand the steps taken by these regions to create a niche for themselves in the global market.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 6.45 Billion
  CAGR   4.82%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Distribution Channel, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Nestle S.A., Goya Foods Inc, International Dehydrated Foods Inc., The Unilever Group, Proliver Bvba, Southern Mills Inc., Henningsen Foods Inc., McCormick & Company, The Kraft Heinz Company, Hormel Foods Corporation
  Key Market Opportunities   Awareness related to the health benefits
  Key Market Drivers   Rising Number of Working Population has Led, Increased Demand for Convenience Food


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Frequently Asked Questions (FAQ) :

Bouillon cubes market CAGR would be 4.82% during the forecast period.

Bouillon cubes market valuation would be USD 6.45 billion.

The major contenders in the global market are Nestle S.A., Goya Foods Inc, International Dehydrated Foods Inc., The Unilever Group, Proliver Bvba, Southern Mills Inc., Henningsen Foods Inc., McCormick & Company, The Kraft Heinz Company, Hormel Foods Corporation.

Non-store-based and store-based are distribution channels of bouillon cubes market report.

Europe would take the charge of the bouillon cubes market.

Vegetable, beef, chicken, fish, and others are types included in bouillon cubes market report.