Stock & Broth Production
Although industry products have historically been a staple in US households, the Stock and Broth Production industry has been challenged over the past five years to 2018 by rapid shifts in consumer food preferences. Consumers have increasingly sought organic or natural foods, which they perceive to be healthier than canned or processed goods. The industry is dominated by a few large companies. In 2018, the top four industry manufacturers are expected to generate more than two-thirds of revenue. To counter shifts in consumer tastes over the past five years, these companies have invested heavily in rebranding, such as repackaging their products in cardboard containers that have been proven to be more favorable to consumers. Due to the stigma of canned goods, the industry is expected to accelerate its repackaging efforts. Nevertheless, health-conscious consumer food trends are only expected to continue as millennials gain purchasing power and displace baby boomers as a share of the US population, and the industry's sales are expected to continue to slump. Over the five years to 2023, industry revenue is projected to fall.
Stock and broth manufacturers make liquid food bases out of animal and vegetable components, as well as dried stocks and broths that can be mixed with water. These products are generally used as ingredients in soups, gravies and sauces. However, the industry excludes establishments that process stock and broth with other ingredients before sale to consumers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook