What Has Driven the Growth of the Soup Market in Recent Years?
The soup market has seen considerable growth due to a variety of factors.
• The steady expansion of the soup market size in preceding years is evident. There's a predicted increase from $16.73 billion in 2024 to $17.36 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.8%.
This growth trajectory during the previous period is largely due to factors including a higher demand for easy-to-make meals, growing consumer focus towards healthier eating tendencies, the ageing demographic, the raising consumption of easily digestible and nutrient-packed foods, and a faster pace of urbanization.
What is the Market Size Forecast for the Soup Market?
The soup market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a consistent expansion of the soup market over the coming years. It is forecasted to escalate to $20.6 billion by 2029, with a compound annual growth rate (CAGR) of 4.4%.
Several factors contribute to this upward trend during the forecast period, such as economic robustness and security, the prominence of plant-based and vegan choices, growing fascination towards global and fusion dishes, the burgeoning popularity of online food requests, and delivery services, compounded by hectic lifestyles. In the forecast period, major developments to look out for include technological and packaging advances, upscale and artisanal soups, soups that are health and nutrient-dense, along with a rise in customization and personalization opportunities.
What Factors Are Driving Growth In The Soup Market?
The growth of the soup market is being spurred by the rising demand for convenient food. This is a type of food specifically designed to make consumption more convenient, aligning with today's lifestyle that caters to delivery and dining out needs. This type of food often does not require any additional preparation, is easy to transport, and boasts a lengthy shelf life. As soups are typically consumed by households on a daily basis, the escalating demand for convenient foods is predicted to increase soup consumption. For instance, the National Association of Convenience Stores (NACS), a trade association based in the US, revealed in a report released in April 2024 that total foodservice sales in the industry, which includes prepared food, commissary items and dispensed beverages, represented 26.9% of in-store sales in 2023, an increase from 25.6% in 2022. There was also a 12.2% growth in prepared food sales per store each month. Consequently, the rising demand for convenient food is anticipated to drive the soup market's growth in the projected period.
What Are The Main Segments Of The Global Soup Market?
The soup market covered in this report is segmented –
1) By Type: Canned/Preserved Soup, Chilled Soup, Dehydrated Soup, Frozen Soup, Ultra-High Temperature Processing (UHT) Soup
2) By Category: Vegetarian Soup, Non-Vegetarian Soup
3) By Packaging: Canned, Pouched, Other Packagings
4) By Distribution Channel: Super markets and Hyper markets, Convenience Stores, Online Stores, Other Distribution Channels
Subsegments:
1) By Canned/Preserved Soup: Ready-to-Eat Canned Soup, Condensed Canned Soup
2) By Chilled Soup: Fresh Chilled Soup, Ready-to-Eat Chilled Soup
3) By Dehydrated Soup: Instant Soup Mixes, Dry Soup Powders
4) By Frozen Soup: Ready-to-Eat Frozen Soup, Concentrated Frozen Soup
5) By Ultra-High Temperature (UHT) Processing Soup: Ready-to-Serve UHT Soup, Concentrated UHT Soup
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What Emerging Trends Are Influencing The Growth Of The Soup Market?
Leading enterprises in the soup market are pivoting towards the production of cup soups to meet the increasing demand for convenient, ready-made meals that accommodate the fast-paced lifestyle of many and deliver promptly made meals. Cup soups are instant soups, packaged in single-use containers often shaped as cups or bowls, intended for fast and simple preparation. The soups are packed with protein and fiber owing to the use of various legumes, resulting in a nutritious diet. For example, in October 2023, Vitto-branded legume cup soups were introduced into the market by Atlante Srl, a company operating out of Italy. These legume soups are housed in handy cups, perfect for quick consumption in any location, be it at the workplace or on the go. A variety of flavors are available from Atlante, catering to a spectrum of taste buds and amplifying the allure of these products. The use of authentic ingredients devoid of artificial additions complies with ongoing healthy eating trends, making these products appealing to those who prioritize health.
Who Are the Key Players in the Soup Market?
Major companies operating in the soup market include:
• General Mills Inc.
• The Kraft Heinz Company
• Campbell Soup Company
• Unilever PLC
• Baxters Food Group Limited
• Blount Fine Foods Corp.
• Loblaw Companies Limited
• B&G Foods Inc.
• Conagra Brands Inc.
• Hain Celestial Group Inc.
• Kettle Cuisine LLC
• Knorr Foods Co Ltd.
• Nissin Foods Holdings Co Ltd.
• Pacific Foods of Oregon LLC
• Premier Foods Group Ltd.
• Progresso Foods Inc.
• The Original Soupman Inc.
• The Real Soup Company Limited
• Trader Joe's Company
• Amy's Kitchen Inc.
• Bear Creek Country Kitchens Inc.
• Dr. McDougall's Right Foods Inc.
• Imagine Foods Inc.
• Kewpie Corporation
• Maruchan Inc.
• Nongshim Co Ltd.
• Ottogi Co Ltd.
• Sapporo Holdings Ltd.
• Toyo Suisan Kaisha Ltd.
• Wei Chuan Foods Corporation
What Is The Most Dominant Region In The Soup Market?
North America was the largest region in the soup market in 2024 and is expected to be the fastest-growing region in the soup market share during the forecast period. The regions covered in the soup market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
