What Is The Scope Of The Global Dried Soup Market?
Dried soup refers to a packaged mix of dehydrated ingredients such as vegetables, noodles, herbs, and spices that can be reconstituted with water to make a quick and convenient soup. These mixes are popular for their long shelf life, ease of preparation, and versatility, often serving as a convenient meal option for camping, hiking, or emergency situations.
Dried Soup Global Market Report 2024 provides data on the global dried soup market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Dried Soup market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Dried Soup Market?
The dried soup market size has grown strongly in recent years, increasing from $2.91 billion in 2023 to $3.12 billion in 2024 at a CAGR of 7.4%. The historic growth is attributed to the convenience and ease of preparation, high consumer awareness of health and wellness, introduction of a wide range of flavors and varieties, the rise of e-commerce platforms, and increased demand for non-perishable, easy-to-store food products. The market is expected to see continued strong growth, reaching $4.18 billion in 2028 at a CAGR of 7.6%. This forecasted growth is driven by sustainability and eco-friendly packaging, technological advancements in food processing, increasing health consciousness, expansion into emerging markets, and increased marketing and promotional efforts. Major trends include increased demand for organic ingredients, innovations in packaging for convenience, rising popularity of global flavors, expansion in online sales, focus on health and wellness benefits, and increased consumer preference for clean-label products.
What Are The Core Factors Supporting Growth In The Dried Soup Market?
The increasing demand for convenience and ready-to-eat food products is expected to drive the growth of the dried soup market. Convenience and ready-to-eat foods are pre-prepared meals or snacks that require minimal or no cooking, catering to busy lifestyles and urbanization. Dried soup, which needs only hot water or broth for preparation, fits this demand for convenience. For instance, in October 2023, Agriculture and Agri-Food Canada reported that processed food and beverage exports hit an all-time high of $54.3 billion in 2022, marking a 14.1% increase from 2021 and representing 34.7% of total production value. Therefore, the rising demand for convenience and ready-to-eat food products is propelling the dried soup market's growth.
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What Are The Major Segments Within The Global Dried Soup Market?
The dried soup market covered in this report is segmented –
1) By Product: Dehydrated Dried Soups, Instant Dried Soups
2) By Packaging: Pouches, Cups, Boxes
3) By Distribution Channel: Supermarket Or Hypermarket, Convenience Stores, Grocery Stores, Online Retail Stores, Other Distribution Channels
Which Trends Are Expected To Transform The Dried Soup Market?
Companies in the dried soup market are adopting innovative products, such as dried vegetable soups, to drive market growth and diversification. Dried vegetable soups are ready-to-eat products containing dehydrated vegetables as primary ingredients. For example, in July 2022, Maya Kaimal Foods LLC, a US-based food and beverage manufacturer, launched a range of vegan dried soups in flavors such as spiced lentil, creamy spiced butternut, tomato and warm spices, and creamy chickpea. These soups are plant-based and come in a ready-to-use format.
What Is The Fastest Growing Region In The Dried Soup Market?
North America was the largest region in the dried soup market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dried soup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
