The Middle East and Africa Broth market is expected to grow from US$ 850.82 million in 2019 to US$ 1128.41 million by 2027; it is estimated to grow at a CAGR of 3.9% from 2020 to 2027.
The Middle East and Africa Broth market is likely to account for a remarkable share of the Broth market across the world during the forecast period. One of the factors that is driving the Middle East and Africa Broth market is the expansion of retail industry along with high consumer reliability. The retail sector has come to a standstill and the consumer traffic in this sector has been on a downward trend. Amazon and other online retail companies had a massive run-up in share in a slew of retail categories. Brands are getting into the retail game themselves and going directly to the consumer. Consumers are becoming more and more habituated to digital channels and spend at least 6 hours on digital platforms. These channels are capturing the market. Although e-commerce keeps growing and growing, physical stores are expected to remain an important part of the customers’ shopping experience. A unification between the ‘old’ traditional world of retail and the virtual ‘new’ world offers new possibilities for market expansion though
In terms of nature, the conventional segment led the Middle East and Africa Broth market in 2019. The health of the animals the bones are derived from significantly influences the health benefits derived from the bone broth. Conventional products may be grown with variety of powerful chemicals to help manage fertility, pests, and diseases. Animals that are raised on conventional farms and are grass fed may be exposed to toxins from the fertilizers, pesticides and insecticides that are sprayed on the pastures. Furthermore, lead toxicity has been shown to be elevated in animals exposed to water and soil from non - organic or conventional farms. Exposure to high amounts of lead can result in headaches, impaired growth, behavioral problems, lack of energy, learning difficulties and more. This is of even greater concern for those who are drinking broth to help treat specific health ailments such as autoimmunity and allergies as avoiding all types of toxins is essential.
Del Monte Foods Inc., Campbell Soup Company, McCormick & Company Inc., Unilever, and Hain Celestial Group are among the key players in the market in this region.
The COVID-19 is anticipated to cause a loss of more than 3 Billion in the Middle East and Africa region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Middle East and Africa is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. Saudi Arabia has the largest COVID-19 cases in the Middle East and Africa region, and is followed by South Africa and UAE, among others. UAE was the first country in Middle East and Africa to report a confirmed case of coronavirus.
The overall Middle East and Africa Broth market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Middle East and Africa Broth market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically associated with this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Middle East and Africa Broth market.