The Global Soup Market size was valued at USD 11.28 billion in 2023 & is estimated to reach USD 16.25 billion by 2030. Along with this, the market is estimated to register a CAGR of 3.85% during the forecast period, 2024-30.
Key Findings of the Study: Soup Market
Global Soup Market Driver: Rising Need for Lighter Meals & Appetizers to Drive the Demand for Soups
Driven by both hectic & sedentary lifestyles in urban areas, the need for lower-calorie meals is on the rise across the globe. There are also increasing barriers to cooking with inadequate knowledge, while urban consumers are progressively time-pressed, encouraging them to search for quick & convenient lighter meals. Packaged dry soup, for instance, addresses the need for a quick and light meal, and can be easily transported and prepared by just adding hot water. This makes it particularly suitable for consumers who travel frequently. In response, major players are looking to create an array of different soup options that cater for consumers’ divergent needs.
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Scope of the Report and Soup Market Segmentation
By Product Type
-Canned
-Dehydrated
-UHT
-Others (Meal Kits, etc.)
· Canned soup held a significant market share in the Global Soup Market over the past few years.
By Category
-Vegan/Vegetarian
-Non Vegetarian
By Distribution Channel
-Supermarket/Hypermarket
-Convenience Stores
-Online
Top leading companies in the Soup Market includes:
General Mills, Nestle SA, Unilever, Baxters Food Group Ltd., The Kraft Heinz Company, The Campbell Soup Company, Ottogi Corp., Asahi Group Holdings, Upton's Naturals, Hain Celestial, Capital Foods Ltd., Tideford Organics, Mars, Inc., and Others
Soup Market Development
· 2023: Baxter, introduced new recipes for 5 of its soups. The five enhanced soups comprise of Cream of Tomato, Minestrone, Cream of Chicken, Carrot & Coriander, and Country Garden.
· 2022: Upton's Naturals introduced the assortment of vegan soups that was expanded with 3 new recipes, each offering 8-11g of plant-based protein per serving. Furthermore, these products are non-GMO (NSF) & Plant-Based Certified, and also free from allergens.
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Geographical analysis:
North America: The US, Canada, Mexico
South America: Brazil, Argentina, Rest of South America
Europe: Germany, The UK, France, Italy, Spain, Rest of Europe
Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia-Pacific
Middle East & Africa: The UAE, Saudi Arabia, South Africa, Egypt, Rest of Middle East & Africa
· North America hold the highest market share in the Global Soup Market due to its robust soup culture, as soups are a customary food item in many households.
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