Stock Cubes Market

Stock Cubes Market Size and Forecast (2023-2028):

The Global Stock Cubes Market shares value is expected to grow at a CAGR of 3.4% during the forecast period 2023-2028 to reach USD 8.56 billion by 2028 from USD 7.01 billion in 2022.

Market Overview:

Stock cubes, sometimes called Stock cubes, also known as bouillon cubes or broth cubes, are small cubes which are in dehydrated forms that are used for adding flavor to soups, stews, sauces, and other dishes. They are typically made from meat, vegetables, or a combination of both. Sometimes, it is available in granular form. Stock cubes are used by dissolving them in hot water to create broth or stock that can be used as a base for various dishes. It is a convenient way to increase the flavor of dishes. These stock cubes are made by combining dry ingredients like dehydrated extracts and seasonings into a paste. After maturing, this mixture is shaped into cubes, dried to remove moisture, and later packaged for freshness. It comes in various flavors, such as chicken, beef, fish, and vegetable. Some manufacturers and brands offer low sodium or no-added MSG options for consumers who are health-conscious and looking for healthier alternatives. Overall, these stocks are pantry staples, and it is an easy and quick way to enhance the flavor of dishes.

Recent Developments in Stock Cubes Industry:

• In October 2021, Gousto was experimenting with a novel innovation, an edible wrapper for stock cubes. The packaging, composed of pea protein and starch, is groundbreaking in the industry. This alternative material offers similar advantages to traditional plastic packaging, effectively maintaining the flavor and shelf life of the enclosed food products.
• Oxo, a leading food brand manufacturing stock cubes, spices, herbs, dried gravy, and yeast extract, introduces a plant-based version of its renowned meat extract. This decision was due to the surge in the popularity of plant-based foods, reflecting changing consumer preferences.

REPORT COVERAGE:

Drivers:

With the increasingly busy lifestyle, there is a growing demand for convenience foods, and due to this, stock cubes have emerged as a popular choice. These compact stock cubes provide a quick and efficient way to enhance the flavor of the dishes, such as soups, stews, and a variety of other dishes. It adds a rich taste and flavor, which makes them an essential part of ready-to-eat meals. Because of their versatility, it has become a part of individuals who have busy schedules and face a challenge in preparing dishes, especially for working mothers who do not want to compromise on taste but want a quick way to prepare delicious meals with limited time. As these stock cubes have concentrated flavors derived from dehydrated meats, vegetables, and seasonings, they provide an instant flavor. The convenience offered by the stock cubes perfectly aligns with a consumer who has a busy lifestyle. These cubes are available for instant noodle cups and microwavable soups. As the modern lifestyle continues to grow, the trend for convenience foods such as stock cubes will exponentially increase. This has caused a major driving factor that has led to an increase in the global stock cube market share.

Furthermore, the growth of the food service industry is another significant factor that has given rise to the global stock cube market size. The increasing numbers of cafes, restaurants, and catering services caused a rise in the demand for stock cubes since they offer a convenient way to increase the flavor and taste of dishes without the need for time-consuming homemade stocks. Therefore, by incorporating these cubes, chefs can deliver flavor and meet the expectations of the consumers. 

In addition, the compact nature of the stock cubes is a boon for both consumers and retailers. Because of the small size, it becomes easy to store on shelves and requires minimal space, therefore making them a practical choice. This longevity is an attractive option for individuals with busy schedules who seek reliable products. Hence, the combination of both reliability and prolonged shelf life caused an exponential rise in global stock cubes market growth.

Restraints:

Health concerns and increasing health awareness are significant restraints that impact the global stock cube market shares. The presence of high sodium content in many stock cubes is of concern to consumers who are health-conscious and seeking products that are organic and natural without any additives, as excessive sodium intake has been linked to health issues like hypertension and cardiovascular problems. It's limiting its use in health-conscious consumers. The rising health awareness and growing demand for more natural and organic products are causing a decline in market growth. And therefore, stock cubes that include additives, preservatives, or artificial flavors are facing challenges in demand.

Opportunities:

As most consumers are becoming health-conscious and are seeking products that are natural and organic, it has provided an opportunity for manufacturers to develop stock that is free of additives. Most of the stock cubes contain monosodium glutamate (MSG) and high levels of sodium, which can lead to hypertension and cardiovascular disorders. Therefore, to increase the acceptance and demand of the stock cubes among health-conscious consumers, manufacturers can leverage this opportunity to create stocks free of MSG and other additives.

Moreover, the surge in plant-based and vegan diets has also opened opportunities for the global stock cubes market. Manufacturers can cater to consumers who are on a vegan diet by utilizing ingredients such as vegetable extracts, mushrooms, and nutrient-rich seaweed to increase and compensate for the traditional flavor of stock cubes. These alternatives also resonate with vegans and provide a cruelty and eco-friendly option to consumers who are environment-conscious and against animal cruelty. These strategic steps can increase the global stock cube market share.

COVID-19 Impact on Global Stock Cubes Market:

The outbreak of COVID-19 had a significant impact on the global stock cubes market; the implementation of the lockdown, restrictions, and travel ban disrupted the global supply chain of stock cubes, leading to reduced demand and sales. Also, many restaurants and cafes were shut down to restrict the spread of the virus, and this caused reduced demand for stock cubes and impacted the food service sector. Many people spent their time at home during the COVID-19 lockdown, and the interest in cooking and culinary experimentation increased, which caused the reduced use of stock cubes. Therefore, the pandemic negatively affected the global stock cube market size due to the logistics and transportation disruptions and also majorly because of the closing down of restaurants and cafes.

Stock Cubes Market Segmentation Analysis:

By Type:

• Cubes
• Granules
• Powder

Based on the type, the global stock cubes market is divided into cubes, granules, and powder. The cube segment holds the highest market share since cubes are the most popular form of stock cubes as they are easy to use and store. They can be simply added to hot water to make a flavorful stock. Cubes are also relatively affordable, making them a good option for budget-minded consumers, and can be measured and added precisely. The granules segment has the largest market share next to the cube segment because of its convenience and affordability.

By Application:

• Retail
• Food Service

Based on the application, the global stock cubes market is divided into retail and food service. The food service has the highest market share due to the increasing demand for stock cubes from restaurants, caterers, and other food businesses. The retail segment is deemed to hit the largest shares of the market.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

Based on the region, the global stock cubes market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Asia Pacific is ruling with the dominant shares of the market owing to increasing demand for stock cubes from countries like China and India. As these countries have a large and growing population, increasing disposable income is leading to demand and sales of stock cubes. North American stock cubes market is positioned second in leading the highest shares as many consumers have a busy lifestyle, which caused a huge demand for stock cubes owing to their convenience. Europe has seen significant growth, and it is driven by the increasing demand for stock cubes from France, Germany, and other developed countries. As these countries have a large and aging population, this caused demand for convenience foods like stock cubes; in addition, the growing usage of stock cubes in restaurants also fuelled the demand. Latin America, & the Middle East, and Africa are anticipated to have steady market growth in the coming years.

Key Players in the Market:

Major Key Players in the Global Stock Cubes Market are

• Unilever (Knorr)
• Nestle
• Kraft Heinz
• International Dehydrated Foods (IDF)
• McCormick
• Ariake Group
• Hormel Foods
• Goya Foods
• Royal Wessanen
• Premier Foods
• Unilever (Knorr)
• Imana Foods
• GB foods
• Caldos del Norte
• Southeastern Mills
• Morga AG
• Rapunzel Naturkost GmbH
• Jiande Jianxing Condiment
• Anhui Goodday Food