The global stock cubes market size is expected to expand from USD 7,184.5 million in 2023 to USD 11,606.0 million by 2033. Over the next ten years (2023 to 2033), global stock cube sales are likely to soar at 6.8% CAGR.
Key Trends Listed by Future Market Insights (FMI):
Stock cube, also referred to as broth cube or bouillon cube is dehydrated stock or broth formed into a cube or other cuboid shape. It is generally made from meat stock or dehydrated vegetables, MSG, a small portion of fat (hydrogenated fat), salt, and seasoning.
Stock cubes are gaining immense popularity as natural food flavorings. They are widely used to add flavor to dishes such as soups and stews. This is due to their tendency to enhance the taste, flavor, and aroma of dishes.
Stock cubes are becoming important because they add flavor, nutrition, and versatility to diets. From being used as a base for soups and broths to a flavor hit for sauces, stock cubes bring undeniable umami deliciousness to cooking.
Rising awareness about the advantages of stock cubes is emerging as a key factor that will boost the global market. Scratch stock needs a longer duration of time and professional chefs. While by using stock cubes, users can have a flavorsome stock in minutes.
Growing emphasis of manufacturers on product innovation and expansion is expected to trigger stock cube sales. To woo customers, companies are introducing new and innovative products that use natural and organic ingredients and are low in salt and sodium content.
For instance, recently Knorr introduced the first ever zero salt range of stock cubes. The new product range is aimed at removing the misconception that salt-free meals are not as tasty. Development of such products will help to make healthier food choices.
Various leading stock cube manufacturers are also focusing on using ingredients that are made using responsibly sourced meat and sustainably farmed vegetables. This will not only help them to increase their customer base but reduce the environmental impact on the global food chain too.
| Attributes | Key Insights |
|---|---|
| Estimated Global Stock Cubes Market Size (2023E) | USD 7,184.5 million |
| Projected Stock Cubes Market Value (2033F) | USD 11,606.0 million |
| Value-based CAGR (2023 to 2033) | 4.8% |
| Top 3 Countries’ Value | USD 7,875.0 million |
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| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 2.5% |
| Jul to Dec (H2), 2021 (A) | 3.1% |
| Jan to Jun (H1), 2022 Projected (P) | 3.0% |
| Jan to Jun (H1), 2022 Outlook (O) | 2.7% |
| Jul to Dec (H2), 2022 Outlook (O) | 4.0% |
| Jul to Dec (H2), 2022 Projected (P) | 3.7% |
| Jan to Jun (H1), 2023 Projected (P) | 3.6% |
| BPS Change: H1, 2022 (O) to H1, 2022 (P) | 30 |
| BPS Change: H1, 2022 (O) to H1, 2021 (A) | 20 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | -30 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | 90 |
According to the Future Market Insights (FMI) analysis, global stock cube sales grew at a CAGR of 3.3% from 2018 to 2022. For the next ten years, the worldwide market for stock cubes is forecast to progress at 4.8% CAGR.
The busy lifestyles of consumers have led to a rise in the demand for convenience food products, including stock cubes. These products are easy to use and require minimal preparation time, making them a popular choice among consumers.
The growing popularity of ethnic cuisines resulted in the use of stock cubes as ingredients in many recipes, and their worldwide popularity has increased demand for them. Increasing expenditure on ready-to-eat meals is another key factor driving growth in the global stock cubes market industry.
Consumers across the globe are shifting their preferences towards items containing vegetables and meat products as prime ingredients. This is creating lucrative growth opportunities for stock cube manufacturers.
Another market-influencing trend is the use of advanced technology and novel packaging solutions to improve the quality and safety of products. Companies are investing in advanced technologies to ensure that products maintain their nutritional value and quality.
Consequently, the taste, convenience, easy availability, extended shelf life, brand recognition, and marketing & promotion of stock cubes will boost the market during the assessment period.
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 3.3% |
| BPS Analysis | 91 |
| Market Value (2033) | USD 2,769.1 million |
| Region | Europe |
|---|---|
| Country | China |
| CAGR | 6.2% |
| BPS Analysis | -256 |
| Market Value (2033) | USD 1,395.1 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 4.3% |
| BPS Analysis | -505 |
| Market Value (2033) | USD 4,24.5 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 7.4% |
| BPS Analysis | 138 |
| Market Value (2033) | USD 3,71.1 million |
Increasing Consumption of Fast Foods Elevating Stock Cube Sales in China
As per Future Market Insights, the China stock cubes market is expected to reach a valuation of around USD 1395.0 million by 2033. It will therefore hold a prominent value share of 73.1% in East Asia market.
China is the world’s most populated country and has a growing middle-class population with rising disposable incomes. This has increased demand for fast foods such as stock cubes.
China has adopted favorable trade policies, allowing it to export goods at a lower cost than other countries in the region. This has given Chinese stock cube manufacturers a competitive advantage over their East Asian peers.
Likewise, Chinese manufacturers have made significant investments in modern manufacturing facilities, advanced technology, and skilled labor. This has resulted in increased efficiency in stock cubes production and lowered production costs.
Availability of goods at competitive prices is expected to help boost the sales of stock cubes in China market during the assessment period.
Growing Popularity of Ethnic Cuisines Driving Stock Cubes Demand in the United States
According to FMI analysis, the United States stock cubes industry is poised to exhibit a CAGR of 3.3% during the assessment period. By 2033, the United States market size is expected to reach USD 2,769.1 million.
The United States has a diverse populace, and ethnic cuisines such as Asian, Latin American, and African are gaining popularity. Stock cubes are an important ingredient in many of these cuisines, and their growing popularity has added to stock cube demand.
Further, consumers have become more health-conscious as they seek out healthier options to traditional stock cubes, which are rich in sodium and other additives. Many stock cubes are now available in low-sodium and organic varieties. Rising popularity of these varieties among health-conscious consumers will boost the United States market.
Similarly, stock cubes are becoming more broadly offered in supermarkets and online stores. This makes them more accessible to consumers and will boost stock cube sales revenue in the country.
Increasing Usage of Stock Cubes as Flavoring Agents Boosting Sales in India
Stock cubes demand in India is anticipated to rise at a steady CAGR of 4.3% during the forecast period from 2023 to 2033. By the end of 2033, India is likely to hold a market share of 37.3% in South Asia market.
Stock cubes are convenient to use and take little time to prepare, making them a popular option among busy Indian consumers who want to prepare meals quickly. They are used to improve the flavor of dishes and are especially useful in Indian cuisine, which is known for its complex and spicy flavors.
Stock cubes are inexpensive and provide value for money when compared to other flavoring options, such as fresh herbs and spices. They also have a longer shelf life compared to fresh ingredients. This makes them a practical option for Indian households where fresh ingredients could not always be available.
Key stock cube manufacturers operating in India market are putting efforts to market their products so that they could reach every potential customer. All these factors are contributing to the increasing sales of stock cubes in India market.
Demand in the Market to Remain High for Beef Stock Cubes
Based on product type, demand is expected to remain high for beef stock cubes during the assessment period. As per Future Market Insights, with a market share of around 26.9%, beef stock cubes segment is projected to reach a valuation of USD 3,095.2 million in 2033.
Beef stock cubes are available in a variety of formats and are a wonderful source of protein. This makes them popular among health-conscious consumers.
The growing demand for convenience foods as a result of today's hectic lifestyle is anticipated to boost growth of the beef stock cube segment during the forecast period.
Further, rising popularity across potential markets such as Asia Pacific and Latin America is anticipated to boost demand for beef stock cubes. To gain maximum profits, market leaders are creating and launching new products based on customer preferences and tastes.
Leading stock cube companies are also investing in research and development and advertising their products in order to maximize revenue. They are expanding their beef stock cubes portfolio to attract more and more customers.
Ready Availability Making Conventional Stock Cubes Popular
The conventional stock cubes segment is anticipated to thrive at 4.6% CAGR during the projection period. to reach a market valuation of USD 9,782.5 million in 2033.
Conventional stock cubes have been on the market for several years and are a familiar ingredient for many home cooks. There are chances that few consumers are hesitant to attempt new, organic, or vegan products. They prefer to stick with what they know and this is one of the reasons for fueling sales of conventional stock cubes.
Conventional stock cubes are usually less expensive than organic or vegan alternatives. This makes them a more appealing choice for certain consumers, particularly those on a budget.
Similarly, conventional stock cubes are widely available in supermarkets and grocery stores, whereas organic and vegan alternatives are little bit more difficult to find. This factor is also playing a key role in triggering growth of the target segment.
On the other hand, organic stock cubes demand is expected to rise at a robust CAGR of 6.5% during the forecast period. Hence, it will emerge as a key revenue-generation segment for stock cube manufacturers.
Easy-to-use Nature of Pressed Stock Cubes Fueling their Demand
The pressed stock segment is expected to register a CAGR of 4.9% from 2023 to 2033. The target segment is likely to reach a market value of USD 8,916.6 million by the end of 2033.
Pressed stock cubes are easy to use and dissolve quickly in hot water. This makes them a convenient option for consumers who do not get enough time to cook at home. They typically have a longer shelf life than extruded stock cubes, making them a practical pantry staple for various consumers.
Several popular brands of pressed stock cubes have established a strong reputation due to heavy marketing and promotions. These strategies have helped them to increase consumer awareness and influence purchasing decisions.
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Leading stock cube manufacturers are constantly launching a new range of products to meet consumer demand. They are also using strategies such as mergers & acquisitions, partnerships, distribution agreements, collaborations, advertisements, and celebrity endorsements to gain a competitive edge in the market.
For instance:
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 7,184.5 million |
| Market Forecast Value in 2033 | USD 11,606.0 million |
| Anticipated Growth Rate (2023 to 2033) | 4.8% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Volume (MT) and Value (USD Million) |
| Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania and Middle East & Africa |
| Key Countries Covered | Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Product Type, Nature, Form, Processing Type, Packaging Format, Sales Channel, and Region |
| Key Companies Profiled | Nestlé S.A; The Kraft Heinz Company; Bell Food Group; Hormel Foods Corporation; Kallo Foods Ltd.; PREMIER FOODS; Ajinomoto Co., Inc.; CALDOS DEL NORTE SL; GBfoods Group; IMANA FOODS (SA) (PTY) LTD; Edwards & Sons Trading Company, Inc.; Goya Foods, Inc.; Promasidor; Patisen; Doyin Group; Daily-Need Group; TESCO PLC |
The market is valued at USD 7,184.5 million in 2023.
The market’s CAGR from 2023 to 2033 will be 6.8%.
Top 3 countries’ market valuation is USD 7,875 million.
China will generate 73.1% revenue by 2033.
Beef stock cubes will remain preferred.
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