Global Soup Market is anticipated to experience a CAGR of 3.24% from 2024 to 2032
Increasing public recognition of soups' positive health benefits and heightened demand for instant food drive a boom within the soup market. As consumers seek convenient but nutritious alternatives, soups are desired because of their versatility and perceived health advantages. This trend reflects a shift in the direction of healthier eating habits and a preference for brief, gratifying food, driving the growth of the global soup market in reaction to evolving customer preferences.Further, dried soup merchandise dominates the market because of its advanced nutritional profile, presenting better ranges of vitamins, minerals, and protein than various convenience soup options. Packaged soups are favored for their accessibility and longer shelf life, frequently surpassing restaurant offerings. Moreover, the need for soup globally is expected to grow due to growing urbanization, growth in disposable incomes, and the introduction of recent flavors. This trend may be pushed by expanding working populations and a choice of processed foods, which are perceived as healthier.
Also, the anticipated upward thrust in soup demand coincides with rural-to-city migration in growing Asia-Pacific countries like China and India. This demographic shift indicates a growing urban population with evolving nutritional choices, likely leading to a greater intake of comfort foods like soups. As urbanization progresses, the need for handy and nutritious meal alternatives is predicted to surge, propelling the boom of the global soup market in those areas. So, the global soup market was about US$ 18.89 Billion in 2023.
The market for canned soups might be increasing on an international scale
On the basis of type, the global soup market is fragmented into Instant, Canned, Dehydrated, Chilled, and Others. Canned soups are among the rapidly developing segments in the international market. This is due to their convenience for busy lives and prolonged shelf life, reducing meal waste, various flavor options, affordability, and evolving perceptions of fitness with healthier ingredient choices. This resonates well with areas experiencing a surge in working populations and a preference for handy yet fitness-conscious meal solutions.The global soup market is expected to rise significantly in the non-vegetarian category
The soup market worldwide is divided into two main categories: Vegetarian and Non-Vegetarian. The non-vegetarian category is poised to assert a large proportion of the global soup market. This is owed to its big attraction among customers in search of hearty, protein-rich alternatives. With a wide range of meat-based soups, this segment caters to various tastes and options, driving its widespread soup market presence.Online channels are expected to become one of the most significant segments in the global soup market
Among distribution channels, the global soup market is categorized into Supermarkets & Hypermarkets, Convenience Stores, and Online. Online channels might advance as an influential segment in the global soup market. This is attributed to the convenience they provide purchasers, allowing them to easily access a wide range of soup products from the comfort of their homes.Europe can become a significant player in the global soup market
Based on countries, the global soup market is separated into North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, the Netherlands, and Turkey), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, and New Zealand), Latin America (Brazil, Mexico, and Argentina), Middle East & Africa (South Africa, Saudi Arabia, and the United Arab Emirates). Europe could possibly have an essential proportion of the global soup market, with a comparable intake in the U.K. and Russia. This is due to increasing populations and a desire for processed ingredients. As consumers' needs change, the intake of dehydrated soup is predicted to grow. Besides, the rising monetary independence amongst women fuels the demand for processed and brief meal goods, propelling the local soup market's increase.Key Players
The companies in the global soup market include Campbell Soup Company, Nestle S.A., Baxters Food Group Ltd., General Mills Inc., Conagra Brands, Inc., Premier Foods, Hindustan Unilever Group, and Associated British Foods Inc.Type - Global Soup Market breakup in 5 viewpoints:
1. Instant2. Canned
3. Dehydrated
4. Chilled
5. Others
Category - Global Soup Market breakup in 2 viewpoints:
1. Vegetarian2. Non-Vegetarian
Distribution Channel - Global Soup Market breakup in 3 viewpoints:
1. Supermarkets & Hypermarkets2. Convenience Stores
3. Online
Country - Global Soup Market breakup of 25 Countries Covered in the Report:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. The Campbell Soup Company2. Nestle S.A.
3. Baxters Food Group Lmt.
4. General Mills Inc.
5. Conagra Brands, Inc.
6. Premier Foods
7. Hindustan Unilever Group
8. Associated British Food Inc.
Table of Contents
Companies Mentioned
- The Campbell Soup Company
- Nestle S.A.
- Baxters Food Group Lmt.
- General Mills Inc.
- Conagra Brands, Inc.
- Premier Foods
- Hindustan Unilever Group
- Associated British Food Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 18.89 Billion |
| Forecasted Market Value ( USD | $ 25.17 Billion |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
