Market Size of South America Soup Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.25 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Soup Market Analysis
The South America soup market is forecasted to witness a CAGR of 3.25% during the forecast period (2020 - 2025).
- Several factors are contributing to the rise in demand for soup in South America, including rapid urbanization, busy lifestyles, and a substantial rise in the demand for packaged and ready-to-eat food products.
- Moroever, factors such as minimal effort for the preparation and consumption of packaged soups, the increase in awareness of the health benefits in soup consumption to the overall health and new product launches is ensuring that sales of the soup is increasing in the market studied.
- One of the restraints, which is exptected to hamper the sales of South America soup market is that these South Amerian countries have an ineffecient supply chain management, as chilled soups require an efficient cold chain supply and timely delivery. This increases the cost and reduces demand.
- One of the other factor, which is hindering the growth of the market is that in light of the economic crisis in the region, for an instance, Argentinians are opting to create homemade soup rather than buying packaged soup in independent small grocers and hypermarkets. The reason for this is financial crises, and homemade soups are significantly cheaper.
