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Soup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
Global Soup Market is segmented by Category (Vegetarian and Non-vegetarian soup); Product Type (Canned/Preserved, Chilled, Dehydrated, Frozen, Instant, and UHT); Packaging (Canned, Pouched, and Other Packaging), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Channels, and Other Distribution Channels), and Geography.
- ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
- TABLE OF CONTENTS
Market Snapshot
Study Period:
2016 - 2026
Base Year:
2020
Fastest Growing Market:
Asia Pacific
Largest Market:
North America
CAGR:
2.9 %
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Market Overview
The global lsoup market is estimated to register a CAGR of 2.9%, during the forecast period (2019 - 2024).
- Increasing product varieties, consumption of health and wellness products, and active promotions by the market players are contributing to the growth of the soup market, during the forecast period.
- Increasing demand for healthier food products is expected to boost the demand for soups in North America, which accounts for a significant share in the global market.
- The high market dominance of the key players is due to their high expenditure on promotional and other marketing activities. Companies also gain competitive advantage with increased focus on brand recognition strategies and improving product taste and quality.
- Instant soup is expected to dominate the soup market in the forecasted period, due to its ease of preparation.
Scope of the Report
The market study of soup is available by category as vegetarian and non-vegetarian soups, by prouct type as canned/preserved, chilled, dehydrated, frozen, instant, and UHT. By packaging, the market is segmented into canned, pouched and other packaging. By distribution channel, the market is segmented as supermarkets/hypermarkets, convenience stores, online, and other distribution channels. The other distribution channels segment comprises of grocery stores, independent stores, direct selling, mixed retailers, vending and non-grocery specialists.
| By Category | |
| Vegetarian Soup | |
| Non-Vegetarian Soup |
| By Type | |
| Canned/Preserved soup | |
| Chilled soup | |
| Dehydrated soup | |
| Frozen soup | |
| Instant soup | |
| UHT soup |
| By Packaging | |
| Canned | |
| Pouched | |
| Other Packaging |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail | |
| Others |
| Geography | |||||||||
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Key Market Trends
Instant Soup Dominates the Soup Market
The market for instant soup has great potential to grow, because of an increase in product offerings like packet soup, natural and tasty soup, quick soup, pouched soup, and others. Moreover, there is an increasing consumer preference for instant soup as a snack item. There is also an increase in consumer preference for instant noodles soup, such as cup noodles soup. Companies offering high nutritious ingredients in soups and the increasing preference for convenient food are driving the instant soup segment. Various companies operating in the segment are coming up with product launches and increasing their product offerings. For instance, Nestle launched six varieties of single-serve soups in instant format.
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North America Being the Largest Market for Soup Industry
The region’s self-sufficient production capabilities have made it a matured market. In the product type segment, the canned soup segment holds the largest market share, followed by the instant and dehydrated soup segments. The major factor driving the growth of the North American soup market is the increasingly busy lifestyle of people in countries, like the United States and Canada, where people opt for ready - to - go meals. The changing perception about soups as a healthier food choice frequently preferred quick meals, and the launch of premium and novel flavors are expected to propel the growth of the North American soup market.
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Competitive Landscape
The soup market is consolidated, particularly with the strong presence of global and regional players, who account for about 60% share of the global market. Unilever and Nestle SA are some of the prominent players operating in the market studied, and account for a significant market share. CSC Brands LP is one of the most active companies in terms of product launches. The major strategies adopted by the companies in the global market are new product launches, agreements/partnerships, expansions, and mergers and acquisitions.
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Table Of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Category
5.1.1 Vegetarian Soup
5.1.2 Non-Vegetarian Soup
5.2 By Type
5.2.1 Canned/Preserved soup
5.2.2 Chilled soup
5.2.3 Dehydrated soup
5.2.4 Frozen soup
5.2.5 Instant soup
5.2.6 UHT soup
5.3 By Packaging
5.3.1 Canned
5.3.2 Pouched
5.3.3 Other Packaging
5.4 By Distribution Channel
5.4.1 Supermarkets/Hypermarkets
5.4.2 Convenience Stores
5.4.3 Online Retail
5.4.4 Others
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.1.4 Rest of North America
5.5.2 Europe
5.5.2.1 Spain
5.5.2.2 United Kingdom
5.5.2.3 Germany
5.5.2.4 France
5.5.2.5 Italy
5.5.2.6 Russia
5.5.2.7 Rest of Europe
5.5.3 Asia Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 Rest of Asia-Pacific
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest of South America
5.5.5 Middle East and Africa
5.5.5.1 South Africa
5.5.5.2 Saudi Arabia
5.5.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 The Campbell Soup Company
6.4.2 Unilever
6.4.3 Nestlé S.A
6.4.4 The Kraft Heinz Company
6.4.5 Premier Foods Group Limited
6.4.6 Ottogi Co., Ltd
6.4.7 General Mills, Inc
6.4.8 Conagra Brands, Inc.
6.4.9 Baxters Food Group Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
*List Not Exhaustive
** Subject to Availability
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