According to the report by Expert Market Research (EMR), the global soup market size is projected to grow at a CAGR of 3% between 2024 and 2032. Aided by the evolving consumer preferences and innovative product offerings, the market is expected to grow significantly by 2032.
Soup, a staple in diets worldwide, is a diverse and versatile food category, encompassing a range of styles from broths and consommés to creamy, chunky, and pureed varieties. Its universal appeal lies in its ability to adapt to regional tastes and dietary preferences, making it a ubiquitous presence in global cuisine. Soups serve not only as comfort food but also as a nutritious option for health-conscious consumers.
The global soup market growth is driven by several factors, including the increasing demand for convenience foods due to the fast-paced lifestyle of consumers. Ready-to-eat and easy-to-prepare soups have gained popularity, especially among the urban population, due to their convenience and time-saving attributes. Moreover, the growing awareness of health and wellness has led to a surge in demand for soups made with natural, organic, and nutrient-rich ingredients.
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Another contributing factor to soup market demand is the culinary diversity and innovation in soup offerings. Manufacturers are continuously experimenting with new flavours, ingredients, and packaging formats to cater to the evolving tastes and preferences of consumers. The introduction of ethnic and exotic flavours has also broadened the consumer base for soups.
Regionally, North America and Europe hold significant portions of the soup market share, attributed to the established soup-consuming culture and the presence of major food processing companies. In these regions, the demand is driven by the preference for convenience foods and the rising popularity of healthy and organic soup options.
The Asia Pacific region is also witnessing substantial growth in the market, driven by the increasing urbanisation, rising disposable incomes, and the adoption of Western eating habits. Traditional soups in countries like China, Japan, and India, which are integral to the local cuisine, also contribute to the market growth in this region.
According to the soup market analysis, there is an increasing focus on health-oriented soups, including low-calorie, low-sodium, and high-protein varieties. The growing vegan and vegetarian populations have spurred the demand for plant-based soups, aligning with global dietary trends towards sustainability and health consciousness.
Moreover, advancements in packaging technologies, such as aseptic packaging and microwavable pouches, have enhanced the shelf life and convenience of soup products, thereby attracting a broader consumer base.
Soup Market Segmentation
The market can be divided based on category, product, packaging type, distribution channel, and region.
Market Breakup by Category
- Vegetarian
- Non-Vegetarian
Market Breakup by Product
- Liquid
- Dried
- Instant
- Dehydrated
- Frozen
- Others
Market Breakup by Packaging Type
- Bottled
- Canned
- Pouched
- Others
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Food Service
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Soup Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global soup market. Some of the major players explored in the report by Expert Market Research are as follows:
- Campbell Soup Company
- The Kraft Heinz Company
- Unilever PLC
- General Mills Inc.
- Conagra Brands Inc.
- B&G Foods, Inc.
- Nestlé S.A.
- Baxters Food Group
- The Hain Celestial Group, Inc.
- Associated British Foods Plc
- Others
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