Bouillon Cubes Market: by Type (Vegetable, Fish, Chicken), Form (Cubes, Granules, Powder, Paste and others), Application (Soups & Sauces) and Region - Forecast till 2023
Pune, India -- (SBWIRE) -- 01/10/2018 -- Market Overview:
Bouillon cubes are dehydrated stock cubes which act as flavoring agents. They are made by dehydrating vegetables, meat stock, hydrogenated fat, salt and seasonings. They impart a rich favor and are produced in various types such as vegetable cubes, fish cubes, chicken cubes, beef cubes, and others. They are applicable in various food dishes including soups & sauces, pastas & noodles, curry, and others. Moreover, they are available in different forms such as cubes, granules, powder, paste, and others.
Bouillon cubes are quick healthy diet which is gaining popularity among the health conscious population. Growing health conscious population and their inclination towards functional foods is driving the growth of bouillon cubes market. Busy lifestyle of the growing working population is another factor impacting the growth of the bouillon cubes market.
Increasing awareness of bouillon cubes in the developing countries is having a positive impact on the growth of the market. Moreover, efforts by the key players to add health beneficial attributes along with variety of flavors is boosting the growth of the bouillon cubes market. However, stringent government regulations in the application of bouillon cubes in food industry may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 4.2% of bouillon cubes market during the forecast period 2017-2023.
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Based on the type, bouillon cubes is segmented into vegetable cubes, fish cubes, chicken cubes, beef cubes, and others. Beef cubes is dominating the market followed by chicken cubes. However, fish cubes are expected to gain substantial growth over the forecasted period. Moreover, increasing vegan population is driving the growth of vegetable cubes in the coming years.
On the basis of form, bouillon cubes market is segmented into cubes, granules, powder, paste, and others. Cubes segment is projected to dominate the market. However, granular segment is anticipated to grow at a moderate rate over the forecast period.
Bouillon cubes is segmented on the basis of application into soups & sauces, pastas & noodles, curry, and others. Among all, soups & sauces market is dominating the market. However, curry market is witnessed to gain a moderate growth during the forecast period followed by pastas and noodles.
The major players in the Bouillon cubes market
Mars Inc. (U.S.)
Hormel Foods (U.S.)
Kraft Heinz Company (U.S.)
Ariake Group (Japan)
Jiande Jianxing Condiment Co Ltd (China)
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The global Bouillon cubes market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the market. The U.S. is the major contributor of bouillon cubes in North America. Europe is the second largest market for bouillon cubes. U.K, Germany and Italy are the major contributors for the growth of bouillon cubes market in this region.
Asia Pacific is anticipated to be the fastest growing market for bouillon cubes. Growing health awareness and inclination towards processed foods among the consumers of developing countries is driving the growth of bouillon cubes in this region. Africa is the emerging market for bouillon cubes