New York, United States , April 23, 2024 (GLOBE NEWSWIRE) -- The Global Soup Market Size is to Grow from USD 19.83 Billion in 2023 to USD 27.15 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.19% during the projected period.
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Soup is typically a liquid meal made by combining ingredients such as vegetables and meat with water, milk, or another liquid. It is usually served warm or hot. Boiling solid items in liquids in a pot until the tastes are extracted and a broth is created. Soups are also widely consumed during illness due to their multiple health advantages. They can help with digestion, enhance heart function, promote weight loss, and strengthen bones. Furthermore, greater product diversity, consumption of wellness and health products, and active promotion by competitors are all predicted to boost the soup industry. The expanding vegan population influences plant-based soup consumption in both developed and developing countries. To accommodate rising consumer demand, prominent merchants are manufacturing vegan soups in a variety of containers. Except for vegetarians, most people prefer nutritious vegetable soups to non-vegetarian soups. Consumer adoption of these broths is growing, benefiting the global soup business. However, many soups, particularly those that are canned or processed, include a high salt content. Excessive salt consumption has been linked to a variety of health difficulties, and as people become more health conscious, they are paying closer attention to how much sodium they consume. This could slow the expansion of the global soup industry and reduce demand for specific items.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Soup Market Size, Share, and COVID-19 Impact Analysis, By Packaging Type (Canned (Metal Cans, Aluminum Cans, Composite Cans), Non-canned (Tetra Pack, Pouches, Cartons, Bowls, Cups)), By Product Type (Vegetable Soup, Chicken Soup, Beef Soup, Seafood Soup, Tomato Soup, Creamy Soup, Specialty Soups), By Distribution Channels (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Specialty Stores, On-the-Go Channels, Vending Machines, Petrol Stations), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The non-canned segment is anticipated to hold the greatest share of the global Soup market during the projected timeframe.
Based on the packaging type, the global soup market is divided into canned (metal cans, aluminum cans, composite cans), and non-canned (tetra pack, pouches, cartons, bowls, cups). Among these, the non-canned segment is anticipated to hold the greatest share of the global soup market during the projected timeframe. This is Because it offers multiple advantages, non-canned packaging, which is commonly used for soups that are easy to make and ready to eat, is growing in popularity. Soup pouches or cups are a convenient option for customers with busy schedules, as they are easy to handle, store, and cook. Because of packaging like microwaveable pouches, cups, and bowls, direct heating is frequently possible, which simplifies preparation and removes the need for additional cooking tools.
The chicken soup segment is anticipated to grow at the fastest pace in the global soup market during the projected timeframe.
Based on the product type, the global soup market is divided into vegetable soup, chicken soup, beef soup, seafood soup, tomato soup, creamy soup, and specialty soups. Among these, the chicken soup segment is anticipated to grow at the fastest pace in the global soup market during the projected timeframe. The various aromas of chicken soup, as well as its high nutritional content, help to drive market expansion. When compared to vegetarian soup options, chicken soup is more delicious. They are also high in protein and other essential nutrients, making them a satisfying and nutritious choice for those searching for a pleasant and visually appealing dinner.
The online retail segment is predicted to grow at the highest pace in the Soup market during the estimated period.
Based on the distribution channel, the global soup market is divided into supermarkets/hypermarkets, convenience stores, online retail, specialty stores, on-the-go channels, vending machines, and petrol stations. Among these, the online retail segment is predicted to grow at the highest pace in the Soup market during the estimated period. This is a result of more restaurants going online to increase the variety of products they offer and make them more accessible to consumers. The majority of nations are expected to purchase processed foods and imported beverages via Internet shopping, which will accelerate the segment's expansion in the global soup market.
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North America is expected to hold the largest share of the global soup market over the forecast period.
North America is expected to hold the largest share of the global soup market over the forecast period. Classic favorites including clam chowder, tomato soup, and chicken noodle soup have become legendary recipes in North American cuisine. This common cultural love soup generates consistent demand and drives regional market growth. Furthermore, the North American consumer base is diversified and ever-changing, with a penchant for convenience, health-conscious alternatives, and a wide choice of flavors. The introduction of premium, clean-label, and novel flavors, together with consumers' increased preference for soups as a quick lunch and their developing perception as a healthier food alternative, is expected to boost the market's expansion in the North American region. The soup industry in North America is being driven mostly by consumers' preference for ready-to-go meals as their lifestyles become more hectic in countries such as the United States and Canada.
Europe is predicted to grow at the fastest pace in the global soup market during the projected timeframe. This is because of Europe’s constantly growing populations, the United Kingdom and Russia are Europe's largest soup eaters. When compared to other countries in the region, these countries consume a comparable amount of processed food. The region's consumption of dehydrated soups is expected to rise due to ongoing product releases that address customer preferences and purchasing trends. Furthermore, as more women achieve economic independence, there is an increasing need for processed and quick food items in the area.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Soup Market include The Kraft Heinz Company, Campbell Soup Company, General Mills Inc., Unilever PLC, Tideford Organics, B&G Foods, Inc., Conagra Brands Inc., Baxters Food Group, Nestlé S.A., Associated British Foods Plc, The Hain Celestial Group, Inc., and Others.
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Recent Developments
- In September 2022, Tideford Organics, the UK's plant-based, vegan, and gluten-free soup brand, boosted store distribution over the previous year while also introducing a variety of new soup flavors and improved recipes. Inspired featured soups such as Indian Cauliflower Masala, Lebanese Lentil + Kale, and Malaysian Coconut + Noodles. It also includes Butternut + Sage from their preferred collection.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Soup Market based on the below-mentioned segments:
Global Soup Market, By Packaging Type
- Canned
- Metal Cans
- Aluminum Cans
- Composite Cans
- Non-canned
- Tetra Pak
- Pouches
- Cartons
- Bowls
- Cups
Global Soup Market, By Product Type
- Vegetable Soup
- Chicken Soup
- Beef Soup
- Seafood Soup
- Tomato Soup
- Creamy Soup
- Specialty Soups
Global Soup Market, By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Specialty Stores
- On-the-Go Channels
- Vending Machines
- Petrol Stations
Global Soup Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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