Bouillon Cubes Market Share, Size, Trends, Industry Analysis Report, By Product Type (Vegetables, Fish, Pork, Chicken, and Beef); By Nature; By Sales Channel; By Region; Segment Forecast, 2023 – 2032
- Published Date:Aug-2023
- Pages: 117
- Format: PDF
- Report ID: PM3713
- Base Year: 2022
- Historical Data: 2019-2021
The global bouillon cubes market was valued at USD 6.43 billion in 2022 and is expected to grow at a CAGR of 4.31% during the forecast period.
Rising demand and need for convenience food products across the world, continuous inclination towards the healthy eating habits and preferences among health-conscious consumers, and awareness regarding the numerous potential health benefits of consuming these cubes, are the key factors likely to boost the growth of the market.
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In addition, the rising popularity of plant-based and vegetarian diets all over the world are likely to opens up opportunities for the innovation and development of bouillon cubes that cater to these dietary preferences, thereby key market players are investing heavily on new product development and their market expansion.
- For instance, in March 2021, Bulligo LLC, announced that the company has acquired the Specialty Food Company named “BOU Brands”, a leader in convenient, gravy, and seasoning bouillon cubes. With this expansion, the company will move one step forward in the effort to grow brand and expand their category product offerings to cater wider customer base.
Moreover, the emerging trend towards the customization and personalization and growing number of manufacturers introducing platforms or apps that allow consumers to create personalized flavor profiles and suggest customized bouillon cube combinations based on individual preferences, are gaining huge traction and popularity worldwide.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the market. The rapid spread of the deadly coronavirus led to huge disruptions in the global supply chain and affected the availability of raw materials and labor at manufacturing facilities, that resulted in declined production capacities and supply of bouillon cubes globally. However, there was a surge in demand for shelf-stable food products, as consumers were stocking essential food items including bouillon cubes during the pandemic.
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Increasing popularity of product worldwide is driving the market size
Bouillon cubes are being widely used as flavor enhancers mainly to add depth and richness to dishes and have gained significant popularity across the world due to ability to enhance the taste of soups, stews, sauces, and other recipes, that are among the major driving factors of the global market. Rapid rate of urbanization and changing consumer lifestyles that have increased the number of busy individuals preferring convenient and ready-to-use food product solutions, are likely to have positive impact on the market.
Furthermore, major product manufacturers have been adopting advanced production techniques to improve the quality and consistency of their bouillon cubes, which includes the use of high-pressure processing and extrusion technologies to ensure optimal flavor retention and texture, that helps in preserving the nutritional value of ingredients and improving the overall sensory experience. Thereby, with the growing adoption of these advanced technologies and systems, manufacturers are likely to gain a competitive edge in the market and boost up their revenue opportunities.
The market is primarily segmented based on product type, nature, sales channel, and region.
By Product Type
By Sales Channel
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By Product Type Analysis
Beef segment accounted for the largest market share in 2022
Beef segment accounted for global market share in 2022, on account of growing popularity of beef as attractive meat choice along with the surging perception of beef as a rich source of protein and other essential nutrients leading to higher product demand among health-conscious consumers. Beef bouillon cubes are being widely used in a wide range of recipes from soups and gravies to marinades and stir-fries, as they provide a versatile flavor base that can enhance various meat, vegetable, and grain-based dishes, allowing cooks to experiment with different flavors and cuisines, is likely to propel the segment market over the coming years.
The vegetables segment is expected to be the fastest growing segment with significant growth rate over the study period, that is largely attributable to increasing number of vegetarian and vegan consumers across the globe seeking for flavorful alternatives to meat-based ingredients and growing adoption of vegetable bouillon cubes as a convenient solution adding depth and complexity to vegetarian and vegan dishes.
By Nature Analysis
Conventional segment held the significant market share in 2022
The conventional segment held the maximum market share in terms of revenue in 2022, mainly due to its numerous beneficial properties and characteristics offering a convenient and easy-to-use solution for flavoring dishes, as they are pre-packaged, easy to store, and have a long shelf life, which makes them a popular choice among consumers who want to enhance the taste of their meals quickly and effortlessly. In addition, with the growing interest in various types of traditional cuisines and dishes worldwide, the demand for these cubes also rises as they are largely used in various cuisines.
The organic segment is projected to grow at substantial growth rate during the anticipated period, because of the continuous rise in the preference for natural and organic products and growing concerns about the environmental impact of conventional farming practices including the use of synthetic pesticides and fertilizers, that have led consumers to seek organic alternatives of bouillon cubes.
By Sales Channel Analysis
Food processing companies’ segment is expected to witness highest growth during forecast period
The food processing companies’ segment is projected to grow throughout the study period, which is mainly accelerated by significant expansion of food processing industry due to rising demand for food products across the globe as a result of rising global population and urbanization trend leading to higher consumption of processed and ready-to-eat meals.
Moreover, to cater to rapidly changing consumer preferences and dietary requirements, food processing companies are highly focusing on product innovation and are introducing new flavors, organic and natural options, low-sodium or reduced-salt variants, and bouillon cubes targeting specific dietary needs, that is fueling the growth of the segment market at rapid pace.
Europe region dominated the global market in 2022
The Europe region dominated the global market with considerable share in 2022, and is projected to maintain its dominance throughout the forecast period. The regional market growth can be largely accelerated higher consumption of bouillon cubes in countries like UK, Germany, France, and Spain compared to other regions and significant demand for ready-to-eat and processed foods in the region due to factors such as changing consumer lifestyles, urbanization, and the need for on-the-go meal solutions.
The Asia Pacific region is anticipated to be the fastest emerging region with a healthy CAGR over the forecast period, owing to rapid increase in population and their growing shift towards the urban areas, that creates huge demand for convenient food products like bouillon cubes. Beside this, as consumers become more aware of different culinary techniques and are looking to enhance the taste of their meals, the demand for flavor enhancers like bouillon cubes has seen a drastic growth in the recent years across the region.
Key Market Players & Competitive Insights
The bouillon cubes market is fragmented and is anticipated to witness competition due to several players' presence. The key players in the market are constantly extending their product lines stay ahead of the competition. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.
Some of the major players operating in the global market include:
- Ajinomoto Co.
- Bell Food Group
- Caldos Del Norte SL
- Daily-Need Group
- Doyin Group
- Edwards & Sons
- GBfoods Group
- Henningsen Foods.
- Hornel Foods
- Imana Foods
- International Dehydrated Foods
- Kallo Foods
- Kraft Heinz Company
- Premier Foods
- Proliver Bvba
- Tesco PLC
- Southern Mills
- In August 2022, Veggiebel, introduced new range of organic & vegan bouillon cubes, that is mainly designed to meet growing consumer needs for bouillon cubes. The new range of products are said to be gluten-free, allergens-free, sugar-free, and glutamate-free and use only 100% natural spices from the organic farmers.
- In October 2021, Gousto, introduced an edible wrapper made from the pea protein and potato starch for their bouillon cubes. The new edible packaging will be made by engineering and drying pea protein material into several sheets having same kind of benefits as plastic have, while preserving the food’s shelf life and flavor.
Bouillon Cubes Market Report Scope
Market size value in 2023
USD 6.58 billion
Revenue forecast in 2030
USD 9.62 billion
4.31% from 2023 – 2032
2019 – 2021
2023 – 2032
Revenue in USD billion and CAGR from 2023 to 2032
By Product Type, By Nature, By Sales Channel, By Region
North America, Europe, Asia Pacific, Latin America; Middle East & Africa
Ajinomoto Co. Inc., GBfoods Group, Bell Food Group, Hornel Foods Corporation, Kallo Foods Ltd., Premier Foods, Imana Foods, Edwards & Sons, Doyin Group, Daily-Need Group, Tesco PLC, Nestle S.A., The Kraft Heinz Company, Caldos Del Norte SL, Southern Mills Inc., International Dehydrated Foods Inc., Proliver Bvba, McCormick & Company, and Henningsen Foods Inc.
The global bouillon cubes market size is expected to reach USD 9.62 billion by 2032.
Key players in the bouillon cubes market are Ajinomoto Co. Inc., GBfoods Group, Bell Food Group, Hornel Foods Corporation.
Europe contribute notably towards the global bouillon cubes market.
The global bouillon cubes market is expected to grow at a CAGR of 4.31% during the forecast period.
The bouillon cubes market report covering key segments are product type, nature, sales channel, and region.