Stock Cubes Market By Product Type (Fish, Beef), By Nature (Organic Stock Cubes, Vegan Stock Cubes), By Form (Stock Cubes, Stick Tablets), By Processing Type (Pressed Stock Cubes, Extruded Stock Cubes), By Packaging Format (Plastic, Glass) & By Sales Channel - Global Market Insights 2018 To 2028

Market Snapshot

Latest released report on the global stock cubes market by Fact.MR estimates that the industry accounted for US$ 6.69 Bn in 2021, and is expected to witness a steady growth at a CAGR of 4.8% to top a value of US$ 10.5 Bn by 2031. Though conventional stock cubes enjoy over 86% market share, over the coming years, demand for organic cubes is set to rise much faster in comparison.

Stock cubes business research performed by Fact.MR includes key findings such as latest and speculative production capacity, capacity utilisation rates of each manufacturer, recent and speculative pricing, and price optimization strategy across the value chain, as well as economic evaluation of stock cube production.

Key Points Covered in Stock Cubes Industry Survey:

• Stock Cubes Market Estimates and Forecasts (2016-2031)
• Production Capacity Analysis of Prominent Manufacturers
• Stock Cubes Pricing Analysis
• Product Pricing Optimization Strategy
• Associated Industry Analysis (Food and Beverage Market Overview)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• COVID-19 Impact on Sales of Stock Cubes and How to Navigate
• Exclusive sales assessment of Stock Cubes
• Recommendation on Key Winning Strategies

Demand Analysis of Stock Cubes from 2016 to 2020 Vs Market Outlook for 2021 to 2030         

As per Fact.MR, market research and competitive intelligence provider, over the past half-decade, global market value for stock cubes increased at a CAGR of around 3.3% owing to rising demand for gluten-free stock cubes across various regions such as North America and Europe.

Meanwhile, sales of stock cubes are projected to further grow at a healthy CAGR of around 4.8% over the decade. The global stock cubes industry is being driven by rising demand for clean label and transparent products.

In response to increased customer demand for clean label and transparency in the products that they consume or use, producers have begun acquiring regulatory body certifications such as hexane-free, gluten-free, organic, non-GMO, vegan, and others. Transparency in the distribution network is an essential step in bringing these approved items into the retail market.

In recent years, there has been significant increase in global demand for organic food items. Growing public knowledge of the health benefits of organic products as well as strong support from local businesses for the creation of such items are driving demand for organic bouillon cubes.

Because of rising customer demand for healthy and organic products, the organic segment is expected to increase in profitably over the forecast years. To meet evolving consumer demands, stock cube manufacturers are expanding their product offerings with organic vegetable stock cubes.

Overall, the market is slated to expand at 4.8% CAGR through 2031.

Will Increasing Per Capita Expenditure on Prepared Food Boost Demand for Stock Cubes?

Customers are spending more on prepared, processed, and ready-to-eat food as urbanization and purchasing power increase, saving them time that would otherwise be spent preparing traditional breakfast or dinners. Global sales of stock cubes are expanding due to rising spending on ready-to-eat meals, and this trend is likely to continue over the years ahead.

Furthermore, customers around the world are altering their tastes toward stock cubes consumption, with high preference for fish stock cubes, poultry stock cubes, and lamb stock cubes as a primary ingredient. 

Is Product Innovation in Stock Cubes Driving the Market Forward?

With demand rising steadily, manufacturers' investment in new product research and innovation has increased dramatically. To meet rising demand, manufacturers are introducing stock cubes in novel shapes and sizes such as vegetable stock powder, vegetable stock paste, and meat stock paste.

Rising demand for creative items has resulted in huge growth in new product development throughout the bouillon and stock cube market. This innovation provides consumers with a broader selection of items and brands, as well as increased shelf space and awareness for stock cubes.

Top stock cube brands operating in the global market also focusing on introducing new products in various forms such as stock powder, stock granules, stock paste, and stock gel.

Which Region is Thriving as far as Sales of Stock Cubes as Concerned?

In 2021, total sales of stock cubes in North America is expected to be US$ 2.17 Bn, accounting for roughly 33% of global sales.

Pasta and noodles have become one of America's most popular dishes. Application of stock cubes in pasta and noodles has increased dramatically and will continue to witness high growth during the forecast period of 2021 to 2031. The pasta and noodle market in the United States grew at a significant rate, which is indirectly driving growth of the bouillon cubes market.

In North America, use of stock cubes in soups and sauces is also driving growth of the stock/bouillon market, owing to their long shelf life. Adoption of stock cubes by soup and base manufacturers is also escalating demand for vegetable liquid stock cubes, due to their excellent nutritional properties.

Country-wise Analysis

Which Factors are Driving Sales of Stock Cubes in the U.S.?

North America is a prominent region in the global market with a market share of 32.9% in 2021. The U.S. bouillon cubes market accounted for 86.5% of the North American market in 2021, but increasing demand for organic bouillon in Canada is expected to drive sales in this country as well.

In the United States, an increasing number of Mexican, Indian, Chinese, and Italian restaurants are serving authentic meals fortified with various ingredients. Paprika, Cumin, parsley, cinnamon, and pepper are just a few of the main spices and seasonings utilized in these dishes. Pork bouillon cubes are also gaining popularity in the country, owing to their flavourful tastes.

What Allows China to Dominate the East Asia Market for Stock Cubes? 

The China bouillon/stock cubes market size in 2021 is estimated to account for a value of US$ 676 Mn, but manufacturers of organic stock cubes in Japan are expected to proliferate at a CAGR of 6.7% through 2031.

Stock cubes are an aromatic mixture of herbs and spices, which acts as a flavoring agent in the food industry. Due to huge demand, suppliers of stock cubes in China are focusing on strengthening their networks with distributers to reach a larger consumer base.

This is more common among leading manufacturers who are concentrating on expanding their business footprints in China. Major manufacturers are focusing on acquisitions of smaller manufacturers, which will help strengthen their distribution network as well as production capacity.

What is Driving Sales of Stock Cubes in Germany?  

In 2021, Germany had a market share of 20% in Europe, while demand for vegetable stock cubes in the U.K. is expected to witness significant growth over the forecast period.

Veganism is gaining popularity all over the world. Meat consumption among the worldwide population is gradually dropping due to severe environmental repercussions as numerous health risks.

Consumer knowledge of the negative health effects of animal products is gradually growing. A sizable consumer base in the European market is not just avoiding meat but is also looking for plant-based meat alternatives. As a result, demand for vegan and vegetable stock cubes is predicted to increase, with sales of meat stock cubes in Germany decreasing.

Will India Serve as a Lucrative Market for Stock Cubes in South Asia?

According to Fact.MR, India is estimated to account for 42.4% of the South Asia market share in 2021. Also, demand for stock paste in Singapore is fuelling growth of the Singapore broth cubes market.

One of the primary reasons for the expansion of the stock cubes industry in India is longer shelf life of the product. Stock cubes have a shelf life ranging from weeks to months, allowing top vegetable stock cube suppliers, manufacturers, and consumers to store them for future use.

Why is Africa Such as Important Market for Stock Cubes?

According to the most recent estimates by Fact.MR, Nigeria accounts for a market share of 22.4% in Africa. Use of stock cubes in curry is also driving demand for stock powder in the Africa market, due to their flavourful spicy tastes. 

Rapid changing lifestyles of consumers along with rise in the working population has led to keen inclination towards instant and ready-to-cook food products. These mixes are becoming indispensable in urban kitchens whilst being great time-savers for consumers with hectic schedules. Stock cubes give consistency to the flavor of food with the least effort.

Moreover, new innovative varieties serving convenience, flavor, and intriguing nourishments are gaining traction among consumers. Thus, growing popularity of ready-to-cook spice mixes is likely to drive demand for stock cubes in West Africa.

Category-wise Insights

Why are Beef Stock Cubes Highly Sought-after?

According to Fact.MR, beef stock cubes are estimated to account for 28.4% share in 2021, but sales of pork stock cubes are expected to witness a significant CAGR 7.3% over the decade.

Meat stock cubes and ham stock cubes are expected to witness high growth over the forecast period, owing to increased demand for various end uses such as curries, noodles, and pasta.

Will Sales of Organic Stock Cubes Rise Faster Over the Years?

In 2021, conventional cubes accounted for approximately 86.2% of the global market, but organic stock cubes are expected to rise at a CAGR of 6.7% over the forecast period of 2021 to 2031.

Due to consumer shift towards organic food products in the processed food industry, organic stock cubes are witnessing higher demand across regions.

What Makes Pressed Stock Cubes So Popular?

Based on form, sales of pressed products is estimated to account for over US$ 5 Bn in 2021, and expected to witness a decent growth rate of 4.9% CAGR to reach a value of US$ 8.1 Bn by 2031.

Which Packaging Type of Stock Cubes is Most Preferred by Consumers?

In 2021, the box segment is dominating the global stock/bouillon cubes market with a market share of 74.8%, but packets/sachets are expected to witness prominent growth at a CAGR 6.2% over the decade.

Which Sales Channel Holds Prominent Share in the Global Market?

Based on sales channel, retail sales accounted for a prominent share of 66.1% in 2021. Under retail sales channel, online sales of stock cubes are witnessing high growth owing to increased adoption on online selling and buying across the world.  

Sales via supermarkets/hypermarkets accounted for a significant share of nearly 32.8% of the store-based retail sales channel, but sales via independent grocery stores are expected to surge over the coming years.

Competition Landscape

In order to increase brand preference and sales the stock cubes, manufacturers are following several marketing strategies with latest trends in stock cubes to motivate consumers to purchase more. These innovative marketing strategies applied by top meat stock cube brands are expected to propel growth of the market.

• For instance, Knorr in Thailand wanted to increase its brand preference and get mums to try new dishes that include Knorr ingredients, such as stock cubes. The main challenge faced mothers in the country is deciding what to cook for dinner. Understanding this challenge, Knorr partnered with no.1 messaging platform in Thailand and provided the Chabot service of kitchen assistance.

Top online retailers of stock cubes are focusing on promotional and marketing activities to create awareness about their products to reach a large consumer base across emerging as well as developed countries

• In 2020, Nestle S.A. launched Maggi Organic Bouillon cubes in a recyclable paper wrapper.
• In 2020, Oxo launched vegan beef-flavored stock cubes owing to increased demand from the vegan population.

Similarly, recent developments related to companies offering stock cubes have been tracked by the team at Fact.MR, which are available in the full report.

Stock Cubes Industry Report Scope

Key Segments Covered in Stock Cubes Industry Research

• By Product Type

  • Vegetables
  • Fish
  • Pork
  • Chicken
  • Beef
  • Other (Lamb, Ham)

• By Nature

  • Organic Stock Cubes
  • Vegan Stock Cubes
  • Conventional Stock Cubes

• By Form

  • Stock Cubes
  • Stick Tablets

• By Processing Type

  • Pressed Stock Cubes
  • Extruded Stock Cubes

• By Packaging Format

  • Stock Cubes in Boxes
  • Stock Cubes in Sachets/Packets
  • Stock Cubes in Jars
    • Plastic
    • Glass

•  By Sales Channel

  • Food Processing Companies/Brands
  • Private Label Brands
  • Retail Sales
    • Store Based Retailing
      • Convenience Stores
      • Discount Stores
      • Hypermarkets/Supermarkets
      • Specialty Stores
      • Independent Small Groceries
      • Other Grocery Stores
      • Non-Grocery Retailers
      • Pop Up Stores
      • Mixed Retailers
    • Online Retailing
  • Food Service (HoReCa)