Soup Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

 

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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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 Regional Insights

The regional trends and factors influencing the Soup Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Soup Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Soup Market Report Scope

Soup Market Players Density: Understanding Its Impact on Business Dynamics

The Soup Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Soup Market are:

1. Campbell Soup Company
2. Nestlé S.A
3. Conagra Brands
4. The Kraft Heinz Company
5. Unilever PLC
6. General Mills Inc

Disclaimer: The companies listed above are not ranked in any particular order.

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