Instant Soup Market to Top US$ 12.94 Billion, Expanding at a CAGR of 5.4% by 2034: Fact.MR Report

Rockville, Feb. 28, 2024 (GLOBE NEWSWIRE) -- As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global Instant Soup Market is set to reach a valuation of US$ 7.64 billion in 2024 and further expand at a CAGR of 5.4% between 2024 and 2034.

The world is moving at quite a fast pace and people need things done as fast as possible due to the fast pace of life. Demand for nutrient rich food options coupled with affordability and timesaving are key factors for the rising consumption of instant soup across the world.

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Key Segments of Instant Soup Market Research Report           

Instant soup is designed for fast and simple preparation, inclining toward the fast-paced life. In addition to instant preparation, it also involves all the key nutritional ingredients that health-conscious people look for in their diet plans. Apart from this, it is one of the most affordable options for food, attracting more and more customers. Its instant preparation and health reasons have become the key reasons for its popularity in worldwide.

Key Takeaways from Market Study

• The instant soup market is projected to expand at a CAGR of 5.4% through 2034.
• The market is forecasted to reach a size US$ 12.94 billion by 2034-end.
• The United States market is estimated at US$ 1.64 billion in 2024.
• The instant soup market in China is projected to reach US$ 2.29 billion by 2034.
• The East Asian market is projected to expand at a CAGR of 5.6% through 2034.
• Dry instant soup is expected to account for 66.4% market share in 2024.

 “Though conventional instant soup accounts for a higher market share, demand for organic variants is rising at a faster pace across the world,” says a Fact.MR analyst.

Key Market Players

Leading instant soup manufacturers are Nestlé, Campbell Soup Company, Unilever, General Mills, and Kraft Heinz Company. Due to the popularity of instant soup, several well-known F&B companies have jumped into this market with their own tastes and flavors, providing various options for customers to try out. Among all the competitors, Nestlé is among the most prominent, maintaining its monopoly over the entire instant soup market. In addition, Unilever has also started to invest and innovate to find out what customers like the best. Other companies such as General Mills and Campbell Soup Company are also experiencing notable growth in this business space.

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North America's Instant Soup Market on the Rise

According to Fact.MR's latest analysis, North America is poised to seize a substantial 27.7% share of the global instant soup market by 2034.

The United States is witnessing a surge in demand for instant soup among food service operators, signaling a noteworthy trend set for significant expansion. Projections indicate that this rising demand will propel the market valuation, with the United States projected to command an 84.7% share of the North American market by 2034.

This upward trend underscores the increasing preference for instant soups within the dynamic landscape of food services. As operators recognize the appeal of these quick and convenient meal solutions, the instant soup market is expected to experience substantial growth. This not only presents a lucrative market opportunity but also highlights the adaptability of instant soups in meeting the evolving needs of food service operators and consumers across the country.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global instant soup market for 2018 to 2023 and forecast market statistics for 2024 to 2034.

The study divulges essential insights into the market based on nature (organic, conventional), form (dry, liquid), source (animal-based, plant-based), end use (foodservice, retail/households), and distribution channel (business to business, business to consumer [hypermarkets/supermarkets, convenience stores, discounters, online retail & others)), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

Checkout More Related Studies Published by Fact.MR Research:

Frozen Soup Market: Fact.MR research report predicts the global frozen soup market to exhibit expansion at a robust 6.5% CAGR from 2023 to 2033, which is slightly up from the historical CAGR of 5.1% (2018 to 2022).

Ready-to-Eat Wet Soup Market: The on-the-go food consumption trend in the working population provides a significant boost to the ready-to-eat wet soup market.

Fat Free Soup Market: The fat free soup market is expected to grow steadily because of the immense health benefits offered such as help in reducing weight, provides vitamins and proteins.

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