Global Packaged Soup Market By Product Type (Dried and Wet), By Distribution Channel (Supermarket/Hypermarket, Convenience store, Food service, Online store and others), By Packaging (Packets, Canned and Bottles), By End User (Household Sector and Commercial Sector), By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Packaged Soup Market size is expected to reach $19.1 billion by 2026, rising at a market growth of 10.9% CAGR during the forecast period. Packaged soup is included in the convenience food category, also known as instant soup that is designed for quick and easy preparation. Packaged soup has flexible packaging which keeps it fresh & safe throughout the dispensing process which is done with the help of sterile packaging technology. The packaged soups are produced on industrial as well as large scale.
Soup is considered as a nutritious and delicious meal and it is a rich source of vitamin A, B, K, C. Moreover, soup is low-fat liquid which makes them an ideal alternative for those who prefer a healthy diet as it has a huge ratio of water in it. Soup is the simplest method of adding vegetables to your daily meal. Eating warm/hot soups aid in clearing the sinuses with steam. Vegetable soups contain low calories and are rich in nutrients. On the other hand, non-veg soup assists in curing the physical maladies, and helpful in eliminating bacteria in the throat, mouth, and tonsils.
The market is boosted by the rising demand for convenience food. Moreover, the demand for packaged soups increases exponentially with the rise in awareness regarding the health advantages of soups. Soups have a rich content of nutrients, protein, vitamins, and minerals. The market is further driven by changing consumer lifestyles towards the consumption of healthy food items.
By Product Type
Based on Product Type, the market is segmented into Dried and Wet. The packaged soup market is dominated by dried soup products. This is owing to their high content of vitamins, proteins, nutrition, minerals in comparison to the other categories of convenience soup products. Furthermore, consumers prefer packaged soups over soups served in restaurants and food outlets due to the durability and easy access to the packaged soups.
Based on Packaging, the market is segmented into Packets, Canned and Bottles. Pouch and cup are included in the packets segment. Leading players are employing innovating and appealing pouch-based packaging designs for soup as they are really effective and convenient. These innovative pouches which are currently being utilized in packaging dried soup aid in increasing the shelf life and decrease the risk of contamination and changes in their real taste.
By Distribution Channel
Based on Distribution Channel, the market is segmented into Supermarket/Hypermarket, Convenience store, Food service, Online store and others. On the basis of the distribution channel, the supermarket/hypermarket segment held the largest revenue share of the global packaged soup market. Hypermarket/Supermarket is gaining prominence due to the availability of a wide range of consumer goods at one stop, sufficient parking space, and convenient operation timings.
By End User
Based on End User, the market is segmented into Household Sector and Commercial Sector. On the basis of end-user, the household segment was the largest revenue contributor in the global packaged soup market in 2019. This is owing to the paradigm shift of consumers from homemade convention soups to packaged soups across numerous demographics.
|Market size value in 2019||USD 11.1 Billion|
|Market size forecast in 2026||USD 19.1 Billion|
|Historical Period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 10.9% from 2020 to 2026|
|Number of Pages||225|
|Number of Tables||440|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product Type, Distribution Channel, Packaging, End User, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Free Valuable Insights: Global Packaged Soup Market to reach a market size of $19.1 Billion by 2026
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America held the highest share in 2019. Asia Pacific would showcase promising growth rate during the forecast period.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Hain Celestial Group, Inc., Conagra Brands, Inc., Nestle S.A., General Mills, Inc., Campbell Soup Company, B&G Foods, Inc., Ajinomoto Co., Inc., Unilever PLC, The Kraft Heinz Company and Kettle Cuisine LLC.
Recent Strategies Deployed in Packaged Soup Market
- Apr-2019: Kettle Cuisine acquired Harry’s Fresh Foods, a privately held custom food manufacturing company. The acquisition brought expanded manufacturing footprint to Kettle Cuisine and further enhanced its ability.
- Dec-2018: Ajinomoto is constructing a new plant for manufacturing soup and other products at its Kawasaki site at a cost of 20 billion JPY. Following the completion, the Kawasaki Knorr Foods operation would be moved into the new plant. With this expansion, the company is aiming at further growth in the soup business, and would increase production to accommodate this growth.
- Sep-2018: Kettle Cuisine took over Soup Business from NORPAC Foods, Inc. The acquisition complemented its Soup business and transformed its soup business to a strong operator with a shared focus on customer service and is providing the highest-quality products to the market.
- Dec-2017: Ajinomoto Co. signed an agreement with Nongshim Co. Following this agreement, the companies set up a joint venture for manufacturing Vono Soup in South Korea. The joint venture would start construction of a powder soup production plant in the site of the Nongshim distribution center in Pyeongtaek, Gyeonggi Province.
- Dec-2017: Campbell Soup Company completed the acquisition of Pacific Foods of Oregon (Pacific Foods), a leading producer of organic broth and soup and also produces shelf-stable plant-based beverages and other meals and sides. The acquisition complemented Campbell’s health and well-being portfolio with its strong position in the faster-growing natural and organic category.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
By Distribution Channel
- Convenience store
- Food service
- Online store
By End User
- Household Sector
- Commercial Sector
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- The Hain Celestial Group, Inc.
- Conagra Brands, Inc.
- Nestle S.A.
- General Mills, Inc.
- Campbell Soup Company
- B&G Foods, Inc.
- Ajinomoto Co., Inc.
- Unilever PLC
- The Kraft Heinz Company
- Kettle Cuisine LLC
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Packaged Soup Market Related Reports:
What would be the size of packaged soup market by 2026?
The global packaged soup market size is expected to reach $19.1 billion by 2026.
What are the key factors that drive packaged soup industry?
There are several reason that cause high demand of this market one of them is rising awareness of the health benefits and processed foods.
Which segment shows high revenue share of the packaged soup market in 2019?
Based on packaging, the packets segment contributed the highest revenue share in the global packaged soup market.
Who are the top market players in the packaged soup industry?
The Hain Celestial Group, Inc., Conagra Brands, Inc., Nestle S.A., General Mills, Inc., Campbell Soup Company, B&G Foods, Inc., Ajinomoto Co., Inc., Unilever PLC, The Kraft Heinz Company and Kettle Cuisine LLC.
At what CAGR is the packaged soup market estimate to grow in the forecast period?
The expected CAGR of packaged soup market is 10.9% from 2020 to 2026.