Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| CAGR: | 3.2 % |
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Market Overview
Africa soup market is projected to grow at a CAGR of 3.2% during the forecast period.
- The increasing health consciousness and growing demand for convenience foods are the major factors driving the African soup market’s growth.
- Factors, such as high availability, lesser cooking time, travel-friendly, and good shelf life are added advantages in the soup market.
- Innovation in terms of wider flavor offerings and more convenient packaging are expected to drive the African market’s growth over the forecast period.
Scope of the Report
Africa soup market includes the segmentation by category that includes vegetarian soup and non-vegetarian soup. The market is also segmented based on type which includes dehydrated soup, instant soup, and others. Based on packaging, the market is segmented into the canned, pouch and other packaging. The market is also fragmented by distribution channels including supermarket/hypermarkets, convenience stores, online retail, and others. The study also involves an analysis of regions such as South Africa and rest of Africa.
| By Category | |
| Vegetarian Soups | |
| Non-Vegetarian Soups |
| By Type | |
| Dehydrated Soups | |
| Instant Soups | |
| Others |
| By Packaging | |
| Canned | |
| Pouch | |
| Other Packaging |
| By Distribution Channel | |
| Supermarket/Hypermarket | |
| Convenience Stores | |
| Online Retail | |
| Others |
| Geography | |
| South Africa | |
| Rest of Africa |
Key Market Trends
Increased Soup Consumption in South Africa
The demand for convenience has been increasing, particularly among middle-to-higher-income consumers, who can afford to pay more for added convenience, thereby positively affecting market’s growth. Consumers are more inclined toward healthy products that provide high nutritional benefits. With the growing awareness of maintaining healthy dietary habits, there is an increase in consumption of soups. Tomato, which is the main ingredient in many vegetable soups, contains many vitamins, such as A and C and helps reduce the risk of cancer, particularly prostate cancer. Market players are trying their best to improve the core goodness values of soups, with less preservatives and artificial flavors.
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Increased Sales of Soups in Supermarkets
Soups are sold primarily through supermarkets as they have begun to stock soups due to the persistent demand for such products in the country. Large retail space and a wide range of product options are few favorable characteristics for higher supermarket sales. Some sections of people, in specific, consumers who are brand conscious prefer shopping from supermarkets, because of the brand assortment in these stores. These product displays are prominent and strike a balance between innovative products and bestsellers. Also, supermarkets offer both upscale options and discounted products, so that they appeal to all classes of consumers.
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Competitive Landscape
Africa soup market is consolidated with key players dominating the market. New product development, partnership, expansion, mergers and acquisitions are the strategies adopted by the companies to cater to the growing demand. The major players are Unilever, Campbell Soup Company, Kraft Heinz and Nestle SA among others.
Major Players
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Category
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5.1.1 Vegetarian Soups
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5.1.2 Non-Vegetarian Soups
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5.2 By Type
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5.2.1 Dehydrated Soups
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5.2.2 Instant Soups
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5.2.3 Others
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5.3 By Packaging
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5.3.1 Canned
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5.3.2 Pouch
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5.3.3 Other Packaging
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5.4 By Distribution Channel
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5.4.1 Supermarket/Hypermarket
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5.4.2 Convenience Stores
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5.4.3 Online Retail
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5.4.4 Others
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5.5 Geography
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5.5.1 South Africa
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5.5.2 Rest of Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Unilever
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6.4.2 Campbell Soup Company
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6.4.3 Kraft Heinz
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6.4.4 Mars, Incorporated
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6.4.5 Nestle SA
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6.4.6 ConAgra Foods
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6.4.7 General Mills
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6.4.8 Baxter's Food Group
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Africa Soup Market market is studied from 2016 - 2026.
What is the growth rate of Africa Soup Market?
The Africa Soup Market is growing at a CAGR of 3.2% over the next 5 years.
Who are the key players in Africa Soup Market?
Unilever, Mars, Incorporated, Kraft Heinz, Campbell Soup Company, Nestle SA are the major companies operating in Africa Soup Market.
