The latest report by IMARC Group, titled “Soup Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the soup market demand. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global soup market size reached USD 11.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 16.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
Soup Market Trends:
The global market is majorly driven by the increasing consumer preference for convenient and ready-to-eat food options. Soups, particularly those that are packaged and shelf-stable, offer a quick and easy meal solution for busy lifestyles. The demand for ready-to-eat soups is further fueled by the rising trend of urbanization and the fast-paced nature of modern life. Another significant driver is the growing awareness of the health benefits associated with soups. Many consumers are seeking nutritious options that are rich in vitamins, minerals, and low in fat and calories. Soups made with fresh vegetables, lean proteins, and whole grains are becoming popular among health-conscious consumers. Additionally, the rise in vegetarian and vegan diets has led to an increase in the availability and demand for plant-based soups.
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Soup Market Scope and Growth Analysis:
The global soup market includes various types of soups, such as canned, dried, frozen, and fresh soups. It is segmented by product type, flavor, and distribution channel. Canned and instant soups are prominent segments due to their convenience and long shelf life, while fresh and frozen soups are gaining popularity for their perceived higher quality and nutritional value. The market is also influenced by trends such as the demand for gourmet and premium soups, which offer unique flavors and high-quality ingredients.
Market analysis shows a competitive landscape with several key players leading the industry. Major companies such as Campbell Soup Company, Nestlé S.A., and Kraft Heinz are prominent in the market, offering a wide range of soup products and investing in innovation and product development. These companies focus on enhancing their product offerings, exploring new flavors, and improving packaging to meet evolving consumer preferences. The market is influenced by trends such as the increasing popularity of global flavors and ethnic soups, which cater to diverse consumer tastes. Additionally, the growing emphasis on clean label products, which highlight natural and non-GMO ingredients, is shaping the market. The rise of online grocery shopping and direct-to-consumer sales channels is also impacting the soup market, providing consumers with more options for purchasing their preferred soup products.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- BG Foods Inc.
- Baxters Food Group Limited
- Blount Fine Foods
- Campbell Soup Company
- Conagra Brands Inc.
- General Mills Inc.
- Nestlé S.A.
- Ottogi Corporation
- Premier Foods Group Limited
- The Hain Celestial Group Inc.
- The Kraft Heinz Company
- Unilever plc
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Soup Market Segmentation:
Our report has categorized the market based on region, type, category, packaging and distribution channel.
Breakup by Type:
- Canned/Preserved Soup
- Chilled Soup
- Dehydrated Soup
- Frozen Soup
- UHT Soup
Breakup by Category:
- Vegetarian Soup
- Non-Vegetarian Soup
Breakup by Packaging:
- Canned
- Pouched
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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