Packaged Soup Market

The global packaged soup market was valued at $11,758.9 million in 2019, and is projected to reach $18,317.3 million by 2027, registering a CAGR of 6.3% from 2021 to 2027.

Packaged soup falls under a category of convenience food. It is an instant soup that is designed for simple and fast preparation. It comes in flexible packaging that keeps it safe & fresh from fill through final dispensing with sterile packaging technology. The packaged soups are manufactured either on industrial or mass scale. There are wide varieties of types, flavors, and styles, of packaged soup that are available in the market through various distribution channels including online stores, supermarkets, convenience stores and others. Moreover, it comes in different packaging including cans, bottles, pouches, and cups. The packaged soup market analysis is done based on regions, key players, and segments.

The COVID-19 pandemic has shown a positive impact on this market. This is attributed to consumers across the globe who are staying stocked with groceries including packaged food such as packaged soups. This  is due to the increasing COVID-19 cases   and consumers’  belief that packaged soups have a longer shelf life ,  are  healthy and can stock it thus,  restricting themselves to go out frequently. This, in turn, has increased the global demand for packaged soup, which positively impacts the packaged soup market growth globally.

The global packaged soup market is segmented into product type, end user, packaging, distribution channel, and region. By product type, the market is classified into dried and wet. By end user, it is divided into household sector and commercial sector. By packaging, it is segmented into bottles, canned and packets. Based on distribution channel, it is segregated into convenience stores, online store, supermarket/hypermarket, food service and others. Region wise, the market is analyzed across North America ( U.S., Canada, and Mexico), Europe (Germany, France,  UK, Italy, Spain and rest of Europe), Asia-Pacific (China, India, Japan, Australia, Indonesia and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

On the basis of product type, the dried segment accounted for the highest packaged soup market share in 2019. This is because dried soup does not need any refrigeration and can be prepared in a short time. It does not get oxidative and enzymatic spoilage and has flavor stability even at room temperature over a longer period (6 to 12 months approx.); thereby, making it popular among consumers globally, especially among working class, millennial, hotels, restaurants, catering and others. However, the wet segment is expected to witness a significant growth in terms of value sales during the forecast period, owing to the growing number of working population across the globe who are leading towards a busier and faster lifestyle, due to which they don’t have much time for cooking. Thus, these consumers are inclining toward ready to drink soups that can be consumed directly after buying from retail stores.

By end user, the household sector segment accounted for the highest market share in the global packaged soup market in 2019.This is attributed to the paradigm shift of consumers from homemade traditional soups to packaged soups across various demographics. This is due to the growing demand for convenience food including packaged soup in the household sectors due to their busy lifestyle especially among the working class people. Moreover, countries like China, Japan, the U.S and other countries that consume soup as a part of their daily diet and due to busy schedule are willing to spend on packaged soup. This in turn has fueled the growth of the packaged soup market through household sectors in terms of value sales.

By packaging, the packets segment accounted for the highest share in the global packaged soup market. The packets segment includes pouch and cup. The key players in the market are using attractive and innovating pouch-based packaging designs for soup as they are very convenient and efficient.  The pouches that are presently used in packaging dried soup helps in increasing the shelf life of the product and reduces the risk contamination and changes in their original taste. Moreover, the manufactures are offering packaged soup in pouch or cup as a single serve container which are high in consumer demands as they don’t need to measure.  However, the canned segment is expected to witness a significant growth during the forecast period. This is because can packaging offers an increased shelf-life to soup and does not react with food material inside it that does not affect its original taste. Moreover, cans provide great flexibility due to their strong and rigid nature it maintains their original shape even at high impact, thus avoid spillover, making transportation easier.  This in turn is anticipated to offer an immense opportunity for canned soup in the market in terms of values sales during the forecast period.

By distribution channel, in 2019, the supermarket/hypermarket segment accounted for the highest market share in the global packaged soup market. Hypermarket/Supermarket is gaining high popularity owing to availability of a broad range of consumer goods under a single roof, ample parking space, and convenient operation timings. Moreover, increase in urbanization, rise in working class population and competitive pricing is boosting the popularity of supermarket/hypermarkets in the developed and developing regions. Furthermore, these stores offer variety of brands in a product category including packaged soup; thus, offering more options for the customers to buy different flavors and types of packaged soup as per their choice. Thus, these supermarket and hypermarkets have high footfalls which in turn is contributing in boosting the sales of packaged soup. This in turn has fueled the growth of the packaged soup market in terms of values sales.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest market share in 2019. This is attributed to the growing hectic lifestyles of consumers in this region due to which they are inclining toward convenience and ready to eat food products that can be consumed directly or requires less preparation time.

The key players operating in the global packaged soup market focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global packaged soup industry analyzed in this report include The Hain Celestial Group, ConAgra Inc., KETTLE CUISINE, LLC, General Mills. B&G Foods, Inc., Campbell Soup Company, Ajinomoto Co., Inc., Unilever., Nestle, and The Kraft Heinz Company.

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the current packaged soup market trends, estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the packaged soup market size and segmentation assists in determining the prevailing packaged soup market opportunity
• Major countries in each region have been mapped according to their revenue contribution to the global industry. 
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
• The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.

 Packaged Soup Market Report Highlights