Global Soup Market

Soup Market Size, Share, Growth Analysis, By Type(Instant, Canned, Dehydrated, Chilled), By Distribution Channel(Hypermarket/Supermarket, Convenience Stores, Online Retail, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30I2363 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 66 | Figures: 64

Soup Market News

  • In September 2022, Fit Foods, a DMC Foods brand, introduced a new wholesome line of Healthy Soups. The new soups are low in calories, MSG free, and gluten free, and are made with all natural healthy ingredients. There are five varieties: Hearty Chicken, Beef and Vegetable, Hearty Chicken, Wholesome Vegetable, and Thai Sweet Potato.
  • IMCD, one of the top distributors of specialized chemicals and components, opened an ultra-high temperature (UHT) pasteurization laboratory in Indonesia to expand its technical footprint in the region in 2021. This new facility accommodates the complex ingredient compositions used in beverages, dairy products, and soups.
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Soup Market size was valued at USD 18.58 billion in 2019 and is poised to grow from USD 19.2 billion in 2023 to USD 24.6 billion by 2031, growing at a CAGR of 3.2% in the forecast period (2024-2031).

Top Players in the Soup Market 'The Campbell Soup Company (US)', 'Nestle S.A (Switzerland)', 'Baxters Food Group Limited (UK)', 'Geeral Mills, Inc. (US)', 'Conagra Brands, Inc. (US)', 'Premier Foods Group Limited (UK)', 'The Kraft Heinz Company (US)', 'Hindustan Unilever Limited (India)', 'Ottogi Co. Ltd (South Korea)'

The use of vegetable stocks and broths is significantly influenced by the growing vegan population in both developed and developing nations. To meet the growing demand from the public, large producers are producing vegan soups in a variety of containers. In contrast to non-vegetarian soups, people prefer to consume healthful vegetable soups, with the exception of the vegan community. The market benefits from these broths' increasing acceptance among consumers.

Growing Demand for Convenience foods have grown: Convenience food sales have increased as a result of rising urbanization rates and busy lifestyles of the populace. Convenience foods come in a variety of forms, including RTE, RTD beverages, packaged snacks, instant food, and others. One of the processed food products that people eat is soup.

Due to the region's larger canned soup consumer base, Europe is estimated to hold the majority of the market share. Due to their expanding populations, the U.K. and Russia are the two European nations that consume the most soup. In comparison to the other countries in the region, these countries consume a disproportionately high amount of processed food. The region's consumption of dehydrated soups is expected to increase as a result of ongoing product introductions to address customer preferences and purchasing patterns.

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Global Soup Market

Report ID: SQMIG30I2363

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