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Global Soup Market: By Category: Vegetarian, Non-Vegetarian; By Product: Canned, Dried, Instant, Frozen, UTH, Others; By Packaging Type: Bottled, Canned, Pouched, Others; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Soup Market Outlook
The global soup market attained a value of USD 17 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 2.8% to reach USD 20 billion by 2026.
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Rising Demand for Healthy Convenience Food Boosting the Industry Growth
The demand for convenience food owing to urbanisation is a significant driver for the growth of the soup industry. The increasing working population and hectic lifestyles have increased the demand for healthy convenience food, and are providing impetus to the soup industry. Increasing disposable income and the rising living standards of the urban middle class population is increasing the demand for easy ready-to-eat foods; soups are famous not only as a healthy and nutritious alternative but also as comfort food which is usually delicious and satisfying. Moreover, globalised culinary practice offers a diverse variety of soups to choose from, which is propelling the market growth. As the popularity of Asian inspired food is soaring, the popularity of ethnic soups such as Vietnamese Pho soups is also significantly increasing. In various South Asian and developing countries, soups are also considered as a representative of modernity and westernisation. The rising popularity of frozen food, especially in North America and Europe, due to its various advantages is further accelerating the growth of frozen and refrigerated foods, consequently boosting the market growth of soup.
Moreover, the growth of distributional channels, such as supermarkets, superstores, and convenience stores around the world is one of the major drivers of the industry. Online retail shopping has considerably increased in the past few years, especially during the COVID-19 pandemic. It boosted the demand for ready-to-eat soups and is aiding the industry growth. As soups are also considered immunity boosters, they are witnessing healthy demand during the pandemic. Panic buying due to the nationwide lockdown in many countries also contributed to the market growth.
Soup: Industry Definition and Segmentation
Soup is a liquid food mostly prepared by cooking vegetables, fish, legumes, and meat, among others, with seasoning in water, milk, or any liquid medium. Soups are often slow cooked and retain the nutrition of their ingredients. They are also used during illness. The consumption of soups accounts for various health benefits. It promotes digestion, enhances heart function, aids in weight loss, and strengthens the bone.
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The major categories of soup are:
- Vegetarian
- Non-Vegetarian
The market can be broadly divided on the basis of its products into:
- Canned
- Dried
- Instant
- Frozen
- UTH
- Others
Based on the packaging type, the industry can be segmented into:
- Bottled
- Canned
- Pouched
- Others
By distribution channel, the market is divided into:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Food Service
- Others
The report looks into the regional markets of soup like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Health Consciousness to Bolster the Market Growth of Soup
Consumers’ health consciousness and healthy eating trends have significantly increased in the past years. Soups offer a combination of both nutrition and taste without adding many calories. The increasing demand for wellness products also makes soup an obvious choice and aids the market growth. The introduction of gluten-free and organic variants has enhanced the product demand. As the emphasis on sustainability flourishes, eco-friendly soup packaging with nutritional information offered by several brands also accelerates the growth of the market. As soups offer numerous vegan choices as well, they are popular among the vegan population, which has witnessed a significant rise in the past few years.
Increasing product launches, product offerings, emphasis on advertisement, and several new trends such as energy soups and functional soups are catalysing the market growth. Energy soups, usually drunk cold, are packaged in ready-to-drink bottles with a variety of ingredients, such as sweet potato and mango, Soup is a perfect platform for inculcating various functional ingredients as it is easier to incorporate numerous nutritious food, such as ginger, beans, soy, and a wide range of vegetables into one soup, and as a result contributes to the overall growth of the soup industry.
Key Industry Players in the Global Soup Market
The report presents a detailed analysis of the following key players in the global soul market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Campbell Soup Company
- The Kraft Heinz Company
- Unilever PLC
- General Mills Inc.
- Conagra Brands Inc.
- B&G Foods, Inc.
- Nestlé S.A.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Soup Market Analysis
8.1 Key Industry Highlights
8.2 Global Soup Historical Market (2016-2020)
8.3 Global Soup Market Forecast (2021-2026)
8.4 Global Soup Market by Category
8.4.1 Vegetarian
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Non-Vegetarian
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.5 Global Soup Market by Product
8.5.1 Canned
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Dried
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.5.3 Instant
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2016-2020)
8.5.3.3 Forecast Trend (2021-2026)
8.5.4 Frozen
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2016-2020)
8.5.4.3 Forecast Trend (2021-2026)
8.5.5 UTH
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2016-2020)
8.5.5.3 Forecast Trend (2021-2026)
8.5.6 Others
8.6 Global Soup Market by Packaging Type
8.6.1 Bottled
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2020)
8.6.1.3 Forecast Trend (2021-2026)
8.6.2 Canned
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2020)
8.6.2.3 Forecast Trend (2021-2026)
8.6.3 Pouched
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2016-2020)
8.6.3.3 Forecast Trend (2021-2026)
8.6.4 Others
8.7 Global Soup Market by Distribution Channel
8.7.1 Supermarkets and Hypermarkets
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2016-2020)
8.7.1.3 Forecast Trend (2021-2026)
8.7.2 Convenience Stores
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2016-2020)
8.7.2.3 Forecast Trend (2021-2026)
8.7.3 Online
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2016-2020)
8.7.3.3 Forecast Trend (2021-2026)
8.7.4 Food Service
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2016-2020)
8.7.4.3 Forecast Trend (2021-2026)
8.7.5 Others
8.8 Global Soup Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Campbell Soup Company
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 The Kraft Heinz Company
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Unilever PLC
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 General Mills Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Conagra Brands Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 B&G Foods, Inc.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Figures and Tables
1. Global Soup Market: Key Industry Highlights, 2016 and 2026
2. Global Soup Historical Market: Breakup by Category (USD Billion), 2016-2020
3. Global Soup Market Forecast: Breakup by Category (USD Billion), 2021-2026
4. Global Soup Historical Market: Breakup by Product (USD Billion), 2016-2020
5. Global Soup Market Forecast: Breakup by Product (USD Billion), 2021-2026
6. Global Soup Historical Market: Breakup by Packaging Type (USD Billion), 2016-2020
7. Global Soup Market Forecast: Breakup by Packaging Type (USD Billion), 2021-2026
8. Global Soup Historical Market: Breakup by Distribution Channel (USD Billion), 2016-2020
9. Global Soup Market Forecast: Breakup by Distribution Channel (USD Billion), 2021-2026
10. Global Soup Historical Market: Breakup by Region (USD Billion), 2016-2020
11. Global Soup Market Forecast: Breakup by Region (USD Billion), 2021-2026
12. North America Soup Historical Market: Breakup by Country (USD Billion), 2016-2020
13. North America Soup Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Europe Soup Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Europe Soup Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Asia Pacific Soup Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Asia Pacific Soup Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Latin America Soup Historical Market: Breakup by Country (USD Billion), 2016-2020
19. Latin America Soup Market Forecast: Breakup by Country (USD Billion), 2021-2026
20. Middle East and Africa Soup Historical Market: Breakup by Country (USD Billion), 2016-2020
21. Middle East and Africa Soup Market Forecast: Breakup by Country (USD Billion), 2021-2026
22. Global Soup Market Structure
Key Questions Answered in the Report
In 2020, the global soup market attained a value of nearly USD 17 billion.
The market is projected to grow at a CAGR of 2.8% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach USD 20 billion by 2026.
The industry is driven by the increasing supermarkets and convenience stores, globalisation of cuisines, and rapid urbanisation.
The market is expected to be aided by the increasing health consciousness and the launch of new flavours and products.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The dominant category of soup in the industry are vegetarian and non-vegetarian.
The leading products of soup are canned, dried, instant, frozen, and UTH, among others.
The major packaging types of soup are bottled, canned, and pouched, among others.
The industry, on the basis of distribution channel, is segmented into supermarkets and hypermarkets, convenience stores, online, and food service, among others.
The major players in the industry are Campbell Soup Company, The Kraft Heinz Company, Unilever PLC, General Mills Inc., Conagra Brands Inc., B&G Foods, Inc., and Nestlé S.A., among others.
Analyst Review
The global soup market attained a value of USD 17 billion in 2020, driven by the rising prevalence of convenience food. Aided by the increasing health consciousness, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 2.8%. The market is projected to reach USD 20 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its categories, the soup industry can be segmented into vegetarian and non-vegetarian. The products of the industry are canned, dried, instant, frozen, and UTH, among others. On the basis of packaging type, the industry is divided into bottled, canned, and pouched, among others. The market, based on the distribution channels is categorised into supermarkets and hypermarkets, convenience stores, online, and food service, among others. The major regional markets for soup are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Campbell Soup Company, The Kraft Heinz Company, Unilever PLC, General Mills Inc., Conagra Brands Inc., B&G Foods, Inc., and Nestlé S.A., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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