Soup Market Growth, Share, and Scope 2031
The soup market is expected to register a CAGR of 6% during 2023 – 2031. The soup market is growing due to increasing demand for convenient and healthy food products.
Soup Market Analysis
- Soup market is an integral segment of the food industry due to the various factors like change in lifestyle, convenience and trends of healthiness.
- The soup market has grown in the past few years because of the requirement of easy to heat or ready meals.
- The main factor leading to the growth of this market is the increasing working population which is a result of urbanisation and rising disposable incomes. Changing lifestyle and dietary habits of consumers drive the soup market.
- Soups with low sodium content and clean labels are consumed by health-conscious consumers. Vegetarian, vegan and gluten free soups are also trending due to dietary needs.
- Convenience and ease of consumptions are also key factors for market growth, as consumers want instant and easy to prepare meals.
Soup Market Overview
- Soups are available in a number of varieties in the market. These includes canned, chilled, dehydrated, instant and many more.
- Canned soup is the most common type. It is easy to use and it is having longer shelf life. It also has varieties based on packaging type such as cans, pouches, cup, cartons and many more.
- The soups are distributed through supermarkets/hypermarkets, convenience stores, online retail and also in foodservice.
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Soup Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Soup Market: Strategic Insights
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Soup Market Drivers and Opportunities
Growing Demand for Healthy Food Products to Favor the Market
A key driver for the growth of the soup market is expected to be the increasing demand for healthy food products. Consumers today are becoming increasingly aware of health and wellness. This growing health awareness leads to a growing demand for food products that are healthy. The demand for healthier food products is thus expected to directly influence demand for soups as healthy soups are developed and consumed. Awareness of the health benefits of soups is another important factor driving demand for healthier soups. Increasingly, consumers are becoming aware of the nutritional composition of what they eat and willing to buy soups that are low on sodium and free from artificial additives and preservatives. Soups that are high in vitamins, minerals and other nutrients are the preferred choice among health-conscious consumers.
New Product Launches by Key Market Players
A new product will likely be able to attract more consumers and gain a bigger market share. With the innovative launch of new flavours, ingredients and packaging formats, companies can cater to the different needs of consumers and show their innovation and creativity compared to the competition. New product launches are a chance for companies to embrace market trends, for example, launching plant-based or globally-inspired soups to attract more health-conscious consumers who want to try different, exciting soups. It also gives them a chance to stand out from the competition as unique and different and help create a bond with their customers.
Soup Market Segmentation Analysis
Key segments that contributed to the derivation of the soup market analysis are type, category, packaging type, and distribution channel.
- Based on type, the soup market is divided into chicken, beef, seafood, vegetables, and others.
- Based on category, the soup market is divided into organic, and conventional.
- In terms of packaging type, the market is divided into cans, pouches, and others.
- On the basis of distribution channel, the market is divided into supermarkets and hypermarkets, convenience stores, online retail, and others.
Soup Market Share Analysis by Geography
- Soup Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering soup market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the soup market in these regions.
Soup Market Report Scope
Soup Market News and Recent Developments
The soup market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the soup market are listed below:
- Soup To Go: Atlante launches innovative Vitto-branded legume cup soups. (Source: Atlante Srl/Press Release/October 2023)
- Z Natural Foods announced the launch of soup base powder. (Source: Z Natural Foods/Press Release/June 2023)
Soup Market Report Coverage and Deliverables
The “Soup Market Size and Forecast (2021 – 2031)” provides a detailed analysis of the market covering below areas:
- Soup market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Soup market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter’s Five Forces and SWOT analysis
- Soup market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the soup market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The global soup market is estimated to grow at a CAGR of 6% during the forecast period 2024-2031.
Growing demand for healthy food products, and convenience meal options offered by soup, are driving factors impacting the soup market.
Adoption of sustainable packaging is anticipated to play a significant role in the soup market in the coming years.
Campbell Soup Company, Nestlé S.A., The Kraft Heinz Company, Unilever PLC, and General Mills Inc, among others are the leading players operating in the soup market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Soup Market - By Product
1.3.2 Soup Market - By Distribution Channel
1.3.3 Soup Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOUP MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. SOUP MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SOUP MARKET - GLOBAL MARKET ANALYSIS
6.1. SOUP - GLOBAL MARKET OVERVIEW
6.2. SOUP - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SOUP MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. CANNED
7.3.1. Overview
7.3.2. Canned Market Forecast and Analysis
7.4. DRIED
7.4.1. Overview
7.4.2. Dried Market Forecast and Analysis
7.5. UTH
7.5.1. Overview
7.5.2. UTH Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. SOUP MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
8.1. OVERVIEW
8.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3. SUPERMARKETS/HYPERMARKETS
8.3.1. Overview
8.3.2. Supermarkets/Hypermarkets Market Forecast and Analysis
8.4. CONVENIENCE STORES
8.4.1. Overview
8.4.2. Convenience Stores Market Forecast and Analysis
8.5. ONLINE
8.5.1. Overview
8.5.2. Online Market Forecast and Analysis
9. SOUP MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Soup Market Overview
9.1.2 North America Soup Market Forecasts and Analysis
9.1.3 North America Soup Market Forecasts and Analysis - By Product
9.1.4 North America Soup Market Forecasts and Analysis - By Distribution Channel
9.1.5 North America Soup Market Forecasts and Analysis - By Countries
9.1.5.1 United States Soup Market
9.1.5.1.1 United States Soup Market by Product
9.1.5.1.2 United States Soup Market by Distribution Channel
9.1.5.2 Canada Soup Market
9.1.5.2.1 Canada Soup Market by Product
9.1.5.2.2 Canada Soup Market by Distribution Channel
9.1.5.3 Mexico Soup Market
9.1.5.3.1 Mexico Soup Market by Product
9.1.5.3.2 Mexico Soup Market by Distribution Channel
9.2. EUROPE
9.2.1 Europe Soup Market Overview
9.2.2 Europe Soup Market Forecasts and Analysis
9.2.3 Europe Soup Market Forecasts and Analysis - By Product
9.2.4 Europe Soup Market Forecasts and Analysis - By Distribution Channel
9.2.5 Europe Soup Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Soup Market
9.2.5.1.1 Germany Soup Market by Product
9.2.5.1.2 Germany Soup Market by Distribution Channel
9.2.5.2 France Soup Market
9.2.5.2.1 France Soup Market by Product
9.2.5.2.2 France Soup Market by Distribution Channel
9.2.5.3 Italy Soup Market
9.2.5.3.1 Italy Soup Market by Product
9.2.5.3.2 Italy Soup Market by Distribution Channel
9.2.5.4 United Kingdom Soup Market
9.2.5.4.1 United Kingdom Soup Market by Product
9.2.5.4.2 United Kingdom Soup Market by Distribution Channel
9.2.5.5 Russia Soup Market
9.2.5.5.1 Russia Soup Market by Product
9.2.5.5.2 Russia Soup Market by Distribution Channel
9.2.5.6 Rest of Europe Soup Market
9.2.5.6.1 Rest of Europe Soup Market by Product
9.2.5.6.2 Rest of Europe Soup Market by Distribution Channel
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Soup Market Overview
9.3.2 Asia-Pacific Soup Market Forecasts and Analysis
9.3.3 Asia-Pacific Soup Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Soup Market Forecasts and Analysis - By Distribution Channel
9.3.5 Asia-Pacific Soup Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Soup Market
9.3.5.1.1 Australia Soup Market by Product
9.3.5.1.2 Australia Soup Market by Distribution Channel
9.3.5.2 China Soup Market
9.3.5.2.1 China Soup Market by Product
9.3.5.2.2 China Soup Market by Distribution Channel
9.3.5.3 India Soup Market
9.3.5.3.1 India Soup Market by Product
9.3.5.3.2 India Soup Market by Distribution Channel
9.3.5.4 Japan Soup Market
9.3.5.4.1 Japan Soup Market by Product
9.3.5.4.2 Japan Soup Market by Distribution Channel
9.3.5.5 South Korea Soup Market
9.3.5.5.1 South Korea Soup Market by Product
9.3.5.5.2 South Korea Soup Market by Distribution Channel
9.3.5.6 Rest of Asia-Pacific Soup Market
9.3.5.6.1 Rest of Asia-Pacific Soup Market by Product
9.3.5.6.2 Rest of Asia-Pacific Soup Market by Distribution Channel
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Soup Market Overview
9.4.2 Middle East and Africa Soup Market Forecasts and Analysis
9.4.3 Middle East and Africa Soup Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Soup Market Forecasts and Analysis - By Distribution Channel
9.4.5 Middle East and Africa Soup Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Soup Market
9.4.5.1.1 South Africa Soup Market by Product
9.4.5.1.2 South Africa Soup Market by Distribution Channel
9.4.5.2 Saudi Arabia Soup Market
9.4.5.2.1 Saudi Arabia Soup Market by Product
9.4.5.2.2 Saudi Arabia Soup Market by Distribution Channel
9.4.5.3 U.A.E Soup Market
9.4.5.3.1 U.A.E Soup Market by Product
9.4.5.3.2 U.A.E Soup Market by Distribution Channel
9.4.5.4 Rest of Middle East and Africa Soup Market
9.4.5.4.1 Rest of Middle East and Africa Soup Market by Product
9.4.5.4.2 Rest of Middle East and Africa Soup Market by Distribution Channel
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Soup Market Overview
9.5.2 South and Central America Soup Market Forecasts and Analysis
9.5.3 South and Central America Soup Market Forecasts and Analysis - By Product
9.5.4 South and Central America Soup Market Forecasts and Analysis - By Distribution Channel
9.5.5 South and Central America Soup Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Soup Market
9.5.5.1.1 Brazil Soup Market by Product
9.5.5.1.2 Brazil Soup Market by Distribution Channel
9.5.5.2 Argentina Soup Market
9.5.5.2.1 Argentina Soup Market by Product
9.5.5.2.2 Argentina Soup Market by Distribution Channel
9.5.5.3 Rest of South and Central America Soup Market
9.5.5.3.1 Rest of South and Central America Soup Market by Product
9.5.5.3.2 Rest of South and Central America Soup Market by Distribution Channel
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SOUP MARKET, KEY COMPANY PROFILES
11.1. BEAR CREEK COUNTRY KITCHENS LLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. GENERAL MILLS INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. UNILEVER PLC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. NESTLé
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ASSOCIATED BRITISH FOODS PLC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. PREMIER FOODS
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. CONAGRA BRANDS INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SYMINGTON'S LTD.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TSC FOODS
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. HAIN CELESTIAL
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Bear Creek Country Kitchens LLC
2. General Mills Inc.
3. Unilever PLC
4. Nestlé
5. Associated British Foods PLC
6. Premier Foods
7. Conagra Brands Inc.
8. Symington's Ltd.
9. TSC Foods
10. Hain Celestial
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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