DUBLIN, Ireland, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Packaged Soup Market By Product Type (Instant Soup, Frozen Soup, UHT Soup, Canned Soup, Dehydrated Soup, And Chilled Soup), By Category (Vegetarian Soup And Non-Vegetarian Soup), Packaging (Pouched Soup, Canned Soup, And Bottled Soup), By Distribution Channel (Hypermarket & Supermarket, Online Store, Convenience Store, Food Service, And Others) And By Region: - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2023 - 2030” in its research database.
“According to the latest research study, the global packaged soup market size was worth at around USD 11.57 billion in 2022. The market is expected to grow above a CAGR of 7.14% and is anticipated to reach over USD 18.75 billion by 2030.”
Packaged Soup Market Overview:
With the majority of population staying at home during the COVID-19 pandemic, cooking and eating at home has been observed a trending habit amongst families. Since convenience food has been trending since quite a long time now, the global packaged soup market is anticipated to grow fast. A plethora of delicious flavors and textures that pique the taste buds of the consumers are being offered by manufacturers.
Even after the end of the pandemic, it is expected that families and individuals continue to opt for packaged soup products due to their benefits associated with taste, health, cost, time, and effort.
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Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 11.57 Billion |
| Market Forecast in 2030 | USD 18.75 Billion |
| Growth Rate | CAGR of 7.14% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | The Campbell Soup Company, The Kraft Heinz Company, Unilever, Nestlé S.A, Greencore, Pacific Foods, ConAgra Foods, Baxters Food Group, and Hain Celestial Group |
| Segments Covered | By Packaging, By Product Type, By Category, By Distribution Channel and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Key Insights from Primary Research
- As per the analysis, the packaged soup market share is likely to grow above a CAGR of around 7.14% between 2023 and 2030.
- The Packaged Soup market size was worth around USD 11.57 billion in 2022 and is estimated to hit approximately USD 18.75 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Rapid industrialization, a substantial rise in demand for ready-to-eat food items and other packaged food products are significant factors that will propel the growth of the global packaged soup market.
- Instant soup is expected to dominate the packaged soup market due to its ease of preparation, extended shelf life, and compact packaging.
- On the basis of region, the “North America” will likely overtake the global market.
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Global Packaged Soup Market: Growth Factors & Restraints
The global market for packaged soup, a major portion of the global packaged food & beverage industry, has come forth as one of the most preferred packed food items globally in the recent past. Numerous growth factors are backing the rapid surge in the requirement of packaged soup universally, which include fast industrialization, huge increment in the demand for ready-to-eat food items & other packaged food products, and busy lifestyle of the urban populace.
Also, the large variety of products and the availability of many flavors, coupled with the rapidly expanding chains of hypermarkets and supermarkets across the developing nations are some of the growth factors expected to attract a larger customer base. Increasing consumption of wellness products and active & clever advertisements & promotions brought forth by the companies, and the popularity of ‘2-minute instant soup’ are some more factors that are helping the expansion of the global packaged soup market.
However, the increasing concerns of people towards the usage of artificial flavoring and food preservatives due to their long-term effects on health is a factor that will hamper the development of the global market.
Packaged Soup Market: Segmentation Analysis/Overview
The global packaged soup market can be segregated by product type, category, packaging, distribution channel, end-user, and region.
Based on product type, the market has been classified into instant soup, frozen soup, UHT soup, canned soup, dehydrated soup, and chilled soup. By category, the global packaged soup market can be segmented as vegetarian soup and non-vegetarian soup. By packaging, the market has been bifurcated into pouched soup, canned soup, and bottled soup. Based on distribution channel, the market is categorized into hypermarket & supermarket, online store, convenience store, food service, and others.
Browse the full “Packaged Soup Market - By Product Type (Instant Soup, Frozen Soup, UHT Soup, Canned Soup, Dehydrated Soup, And Chilled Soup), By Category (Vegetarian Soup And Non-Vegetarian Soup), Packaging (Pouched Soup, Canned Soup, And Bottled Soup), By Distribution Channel (Hypermarket & Supermarket, Online Store, Convenience Store, Food Service, And Others) And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2023 - 2030” Report at https://www.zionmarketresearch.com/report/packaged-soup-market
Regional Overview:
North America holds a significant share of the global packaged soup market Due to the exceedingly hectic lifestyles of the working population, high purchasing power, shifting preferences, and the ease of preparation of such products. The regional packaged soup market in Europe is also expected to expand owing to the introduction of organic packaged soups that do not contain any artificial flavourings or other potentially harmful ingredients.
On the other hand, Asia Pacific is anticipated to experience rapid growth in the future years, which can be attributed to the increasing urban population and working population. Rapid industrialization and rising disposable incomes of the population are two additional factors causing an increase in demand for packaged food & beverage products, thereby expanding the market in this region.
Competitive Players:
The global packaged soup market is highly consolidated with a few major competitors operating in the competitive landscape. The market is predicted to observe the entry of numerous small-scale companies in the upcoming times, which will make this market more competitive over the upcoming years. The key strategies implemented by the players working in the market include agreements & collaborations, new product launches, acquisitions, mergers, and expansions.
Some of the strong players working in the global packaged soup market are;
- The Campbell Soup Company
- The Kraft Heinz Company
- Unilever
- Nestlé S.A
- Greencore
- Pacific Foods
- ConAgra Foods
- Baxters Food Group
- Hain Celestial Group
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The global packaged soup market is segmented as follows:
By Product Type
- Instant Soup
- Frozen Soup
- UHT Soup
- Canned Soup
- Dehydrated Soup
- Chilled Soup
By Category
- Vegetarian Soup
- Non-vegetarian Soup
By Packaging
- Pouched Soup
- Canned Soup
- Bottled Soup
By Distribution Channel
- Hypermarket & Supermarket
- Online Store
- Convenience Store
- Food Service
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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