Cover Image
Market Research Report

Soup Market Growth, Trends, and Forecasts (2019 - 2024)

Published by Mordor Intelligence LLP Product code 389902
Published Content info 100 Pages
Delivery time: 2-3 business days
Price
Back to Top
Soup Market Growth, Trends, and Forecasts (2019 - 2024)
Published: May 1, 2019 Content info: 100 Pages
Description

Market Overview

Soup market is growing at a CAGR of 2.9% during the forecast period (2019-2024).

  • Increasing product varieties, increasing consumption of health and wellness products and active promotions by the market players are contributing to the growth of the global soup market during the forecast period.
  • Increasing demand for healthier food products is expected to boost the demand for soups in North America, which accounts for a significant share in the global market.
  • The high market dominance of the key players is also due to their high expenditure on promotional and other marketing activities. Companies also gain a competitive advantage with an increased focus on brand recognition strategies, improving product taste and quality.
  • Instant soup is expected to dominate the soup market in the forecasted period due to its ease of preparation.

Scope of the Report

The market study of soup is available as canned/preserved, chilled, dehydrated, frozen, instant, and UHT. By packaging, the market is segmented into canned, pouched and others. By distribution channel, the market is segmented as supermarket/hypermarket, convenience stores, online and others. The other distribution channel segment comprises of grocery stores, independent stores, direct selling, mixed retailers, vending and non-grocery specialists.

Key Market Trends

Instant Soup Dominates the Global Soup Market

The market for instant soup has great potential to grow because of the increase in product offerings like packet soup, natural & tasty soup, quick soup, pouched soup, and others. Moreover, there is a growing consumers preference for instant soup as a snack item. There is also an increase in consumer preference for instant noodles soup, such as cup noodles soup. Companies offering high nutritious ingredients in soups and the growing preference for convenient food are driving the instant soup market. Various companies operating in the segment are coming up with product launches and increasing their product offerings. For instance, Nestle launched a range of six varieties of single-serve soups in instant format.

North America Being the Largest Market for Global Soup Industry

The region's self-sufficient production capabilities have made it a matured market. By product type, the canned soup segment holds the largest market share, followed by the instant and dehydrated soup segments. The major factor driving the growth of the North American soup market is the increasingly busy lifestyle of people in countries, like the United States and Canada, where people opt for ready-to-go meals. The changing perception about soups as a healthier food choice frequently preferred quick meals, and the launch of premium and novel flavors are expected to propel the growth of the North American soup market.

Competitive Landscape

The global soup market is consolidated, particularly with the strong presence of global and regional players who account for about 60% share of the global market. Unilever and Nestle SA are some of the prominent players operating in the market studied, and account for a significant market share. CSC Brands LP is one of the most active companies in terms of product launches. The major strategies adopted by the companies in the global market are - new product launches, agreements/partnerships, expansions, and mergers & acquisitions.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client's requirements
  • 3 months of analyst support
Table of Contents
Product Code: 48755

Table of Contents

1 INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Canned/Preserved
    • 5.1.2 Chilled
    • 5.1.3 Dehydrated
    • 5.1.4 Frozen
    • 5.1.5 Instant
    • 5.1.6 UHT
  • 5.2 Packaging
    • 5.2.1 Canned
    • 5.2.2 Pouched
    • 5.2.3 Others
  • 5.3 Distribution Channel
    • 5.3.1 Hypermarket/Supermarket
    • 5.3.2 Convenience Store
    • 5.3.3 Online Channels
    • 5.3.4 Others
  • 5.4 Geography
    • 5.4.1 North America
      • 5.4.1.1 United States
      • 5.4.1.2 Canada
      • 5.4.1.3 Mexico
      • 5.4.1.4 Rest of North America
    • 5.4.2 Europe
      • 5.4.2.1 Germany
      • 5.4.2.2 United Kingdom
      • 5.4.2.3 France
      • 5.4.2.4 Italy
      • 5.4.2.5 Spain
      • 5.4.2.6 Russia
      • 5.4.2.7 Rest of Europe
    • 5.4.3 Asia Pacific
      • 5.4.3.1 China
      • 5.4.3.2 Japan
      • 5.4.3.3 India
      • 5.4.3.4 Australia
      • 5.4.3.5 Rest of Asia Pacific
    • 5.4.4 South America
      • 5.4.4.1 Brazil
      • 5.4.4.2 Argentina
      • 5.4.4.3 Rest of South America
    • 5.4.5 Middle East and Africa
      • 5.4.5.1 South Africa
      • 5.4.5.2 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE

  • 6.1 Strategies Adopted by Key Players
  • 6.2 Most Active Companies over the Past Five Years
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles
    • 6.4.1 CSC BRANDS, L.P
    • 6.4.2 Unilever Food Solutions
    • 6.4.3 Nestle
    • 6.4.4 Kraft Heinz Canada
    • 6.4.5 Premier Foods
    • 6.4.6 Ottogi Foods
    • 6.4.7 Baxters Foods
    • 6.4.8 Conagra Foods Inc.
    • 6.4.9 Frontier Soups

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

Back to Top