Gaining Renown for Convenience and Flavor, Global Stock Cubes Market to Exceed a Valuation of US$ 11,606 Million by 2033 According to Future Market Insights (FMI), the worldwide stock cubes market is valued at US$ 7,184.5 million in 2023 and it is anticipated to reach US$ 11,606.0 million by 2033. Over the next decade, global stock cubes demand is likely to increase at a CAGR of 4.8%.
Growing demand for convenience food products globally is a key factor that will spur growth in the stock cubes industry. Increasing popularity of ethnic cuisines will also fuel stock cubes demand during the forecast period.
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Innovative marketing strategies employed by key stock cube manufacturers are expected to boost the market during the next ten years.
To increase brand preference and sales, stock cube manufacturers use a variety of marketing strategies. This includes the use of technology to encourage consumers to buy stock cubes. These innovative marketing strategies are anticipated to propel the stock cube market forward.
For example, Knorr in Thailand sought to increase brand preference and encourage mothers to try new recipes that included Knorr ingredients such as stock cubes.
The primary challenge that Thai mothers confront is deciding what to cook for dinner. Understanding the challenge, Knorr collaborated with Thailand’s leading messaging platform to provide the Chabot service of kitchen help.
Internationalization and development of new varieties will create new growth prospects for the market. As the world is becoming more of a global village, consumers are becoming more accepting of culinary customs from other countries, increasing demand for ethnic and exotic ingredients.
Product diversity is becoming more popular as a result of consumer interest in novel flavors. Far Eastern, Mediterranean, and Mexican cuisines have grown in popularity in recent years, especially in Northern European markets where supermarkets stock a wide variety of ready-to-eat food products from around the world.
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Key Takeaways from the Stock Cubes Report:
- The global stock cube marketis expected to reach a valuation of US$ 11,606.0 million by 2033.
- Global demand for stock cubes is likely to soar at 8% CAGRover the forecast period.
- Based on product type, beef stock cubes segment is anticipated to reach a valuation of US$ 3,095.2 million by 2033.
- By nature, conventional stock cubes segment is likely to exhibit 6% CAGR during the projection period.
- Europe is projected to hold a dominant value share of 8% in the global market by 2033.
- The United States stock cubes market is projected to reach a valuation of US$ 2,769.1 million by 2033.
- Singapore market is estimated to witness a value CAGR of 9% during the projection period.
“Globalization has allowed for homogenization of culinary tastes from differing regions. Stock cubes, being affordable and readily available, have grown popular globally. Manufacturers would find growth opportunities by focusing on unique flavors and textures to meet niche preferences.” – says a lead analyst at Future Market Insights (FMI)
Who is Winning?
The Kraft Heinz Company, Nestlé S.A, Kallo Foods Ltd., Goya Foods, Inc., Bell Food Group, Hormel Foods Corporation, CALDOS DEL NORTE SL, PREMIER FOODS, Promasidor, Ajinomoto Co., Inc., Daily-Need Group, GBfoods Group, Patisen, IMANA FOODS (SA) (PTY) LTD, Edwards & Sons Trading Company, Inc., TESCO PLC, and Doyin Group are key stock cube manufacturers listed in the report.
These companies are concentrating on expanding their portfolios by launching new products. They also use strategies such as advertisements, partnerships, acquisitions, agreements, and mergers to stay relevant in the market. For instance,
- In 2019, Premier Foods launched a new range of OXO beef stock cubes, which are made with high-quality beef and contain no artificial colors, flavors, or preservatives.
Stock Cubes Market by Category:
By Product Type:
- Vegetable
- Fish
- Pork
- Chicken
- Beef
- Others (Lamb, Ham)
By Nature:
- Organic
- Vegan
- Conventional
By Form:
- Cubes
- Tablet
By Processing Type:
- Pressed Products
- Extruded Products
By Packaging Format:
- Box
- Packet/Sachet
- Jars
- Plastic
- Glass
By Sales Channel:
- Food Processing Companies/Brands
- Private Label Brands
- Food Service (HoReCa)
- Retail Sales (B2C)
- Online Retailing
- Store-Based Retailing
- Convenience Stores
- Discount Stores
- Hypermarkets/Supermarket
- Specialty Stores
- Independent Small Grocers
- Other Grocery Retailers
- Non-grocery Retailers
- Pop Up Store
- Mixed Retailers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global stock cubes market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the stock cubes market based on product type (vegetable, fish, pork, chicken, beef), nature (organic, vegan, conventional), form (cubes, tablet), processing type (pressed products, extruded products), packaging format (box, jars, packet/sachet), and sales channel (food processing companies/brands, private label brands, food service (HoReCa), retail sales), across various regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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