Market Size of Canned Soup Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.53 Billion |
| Market Size (2029) | USD 10.38 Billion |
| CAGR (2024 - 2029) | 4.01 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Canned Soup Market Analysis
The Canned Soup Market size is estimated at USD 8.53 billion in 2024, and is expected to reach USD 10.38 billion by 2029, growing at a CAGR of 4.01% during the forecast period (2024-2029).
- The driving factors for canned soups include the increased shelf life of ingredients due to better usage of food preservation methods, an increase in the rate of urbanization, busy lifestyles, and a surge in demand for convenience foods, among other factors. Also, an increase in nuclear households and rising disposable incomes of households have led to changes in the food consumption habits of consumers, with convenience foods finding a major inclination among consumers.
- As a result, manufacturers are introducing innovative products to address consumer needs. For instance, in January 2022, Rex Canning Corporation launched Rex Mushroom Soup as a new entrant in the canned soup category in Malaysia. The product is a condensed soup and can be prepared quickly. The key ingredients include water, canola oil, wheat flour, button mushroom, milk powder, shitake flakes, isolated soy protein, onion powder, garlic powder, and black pepper. The company also claims that the soup has a shelf life of 36 months.
- However, the most frequent problems that have the potential to hamper the growth of the market are corrosion of packaging, excessive content of preservatives and coloring, as well as migration of materials from the packaging into the fruit, such as tin or cadmium.
