Soup Market to Grow by USD 4,453 .9 Million During -2022-2027 | New product launches are notably driving the soup market growth | Technavio

NEW YORK, June 1, 2023 /PRNewswire/ -- The soup market is set to grow by USD 4,453.9 million from 2022 to 2027, progressing at a CAGR of 4.37% during the forecast period. As consumer acceptance of ready-to-eat meals increases, vendors are focusing on developing new types of soups to increase the number of options available to consumers. Product launches help vendors increase sales and market share. Vendors try to attract multiple customers by introducing new soup flavors.

The soup market covers the following areas:

Soup Market Sizing
Soup Market Forecast
Soup Market Analysis

Vendor Landscape

The soup market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

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Vendor offerings

Amys Kitchen Inc. - The company offers soup such as organic lentil soup and noodle soup.

B and G Foods Inc. - The company offers soup such as cheddar broccoli soup.

Baxters Food Group Ltd. - The company offers soup such as lobster bisque soup.

For market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View Sample in a minutes.

Market segmentation

The soup market report extensively covers market segmentation by distribution channel (offline and online), product (dried, canned, UTH, and others), and geography (Europe, North America, APAC, Middle East and Africa, and South America).

• Distribution channel 
• Offline 
• The market share growth by the offline segment will be significant during the forecast period. This segment includes department stores, supermarkets, hypermarkets, pop-up stores, and convenience stores. Tesco Plc (Tesco), Walmart Inc. (Walmart), Future Group, and Target Corp. (Target) are some of the largest retail chains with separate retail sections for soups, including functional soups and superfood soups.

View Sample Report in minutes of this report for more highlights into the market segments.

Regional market outlook

• Europe is estimated to account for 33% of the growth of the global soup market during the forecast period. Europe has the largest share of the soup market due to the presence of major vendors offering new types of soups, rising disposable incomes, and the increasing popularity of ordering soups from ethnic kitchens. Europe is home to big companies such as Nestle, Kraft Heinz, and Unilever. In addition, increasing household spending on Food and Beverages (F&B) in Europe is driving the growth of the market in this region. Developed Western European countries such as Italy, Germany, France, England, Spain, and Russia are the main markets for soups. Rapid urbanization has led to a direct and proportional increase in consumers' disposable income. This will have a positive effect on the growth of the market in this region. 

For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report

Companies Mentioned

• Amys Kitchen Inc.
• B and G Foods Inc.
• Baxters Food Group Ltd.
• Blount Fine Foods
• Conagra Brands Inc.
• DR KELLYANN LLC
• Frontier Soups
• General Mills Inc.
• Kettle and Fire Inc
• Nestle SA
• Ottogi Co. Ltd.
• Premier Foods Plc
• Savory Creations International Inc.
• The Hain Celestial Group Inc.
• The Kraft Heinz Co.
• The Kroger Co.
• Tideford Organic Foods Ltd.
• Trader Joes
• Unilever PLC
• Campbell Soup Co.

Soup market - Market dynamics

Key drivers

New product launches 

• Owing to the rising adoption of instant food products among consumers, vendors are focusing on developing new varieties of soup to increase the number of options available to their consumers. Product launches help vendors increase their sales and market shares. Vendors are trying to attract several customers by introducing new soup variants.
• In September 2022, Pacific Foods introduced new organic canned ready-to-eat hearty soups and plant-based chilis in infinitely recyclable, non-BPA-lined packaging. In addition to the transition of hearty soups to cans, Pacific Foods is rolling out its first-ever line of plant-based chilis in three unique and tasty recipes: Fire-Roasted Vegetable Chili, Harvest Black Bean Chili, and White Bean Verde Chili.
• In December 2021, Campbell launched several new soup products, including a range of plant-based soups under its Well Yes! brand. The new plant-based soups are made with various vegetables and legumes and are aimed at consumers looking for more plant-based meal options.

Significant trends 

Rising number of promotional and marketing activities

• Vendors have increased their marketing activities with novel strategies and innovative advertisements to improve the visibility of their products. There has been a corresponding rise in marketing and advertising budgets and promotional and marketing activities to increase the visibility of their products. For instance, in 2021, Nestle's consumer-facing marketing expenses increased by 6.4% over the same period in 2019. 
• Campbell Soup is another prominent vendor that is actively involved in multiple promotional and marketing activities. In 2020, the company ran several promotional activities. The company partnered with Twitch Interactive Inc. (Twitch), a streaming platform, and signed Juan DeBiedma, a prominent player in eSports, for its Chunky soup ads. The company also partnered with Instant Brands Inc. (Instant Pot), a pressure cooker manufacturer. Such promotional and marketing activities are expected to drive the growth of the global soup market during the forecast period.

Key challenge

Product recalls

• There are frequent product recalls in the food and beverage industry due to the improper handling of raw materials or supplies, as it can adversely affect the safety and quality of finished products. Food regulatory and compliance authorities in any country have the right to shut down a business and recall its products from the market if these products pose a threat to the well-being of consumers. Product recalls severely impact the brand image as well as the operations and sales of a company. Consumers are very conscious about the brand image of products that they purchase, as any negligence will affect their health and well-being.
• The market has witnessed various product recalls in the last few years due to the use of contaminated raw materials, the presence of allergens, or incorrect labeling, which can negatively impact the growth of the market and consumers' trust in products. For instance, Blount Fine Foods, which is a US-based instant soup manufacturer that specializes in the production of wholesale frozen and fresh soups under the Panera Bread and Legal Sea Foods brands, announced in June 2022 that it is voluntarily recalling a limited amount - a single lot of Panera Home Southwest Corn Chowder, a corn-based chowder soup, due to the presence of an undeclared wheat allergen in it. 

Related reports:
The instant soup market is estimated to grow at a CAGR of 3.74% between 2022 and 2027. The size of the market is forecast to increase by USD 3,880.38 million. This report extensively covers market segmentation by distribution channel (offline and online), type (dry and liquid), and geography (North America, Europe, APAC, South America, and Middle East and Africa). New product launches will be a major factor driving the packaged soup market share growth.

The Canned Food Market is projected to increase by USD 29,442.6 million from 2022 to 2027. The market is estimated to grow at a CAGR of 4.3% between 2022 and 2027. This market is segmented by product into canned fish and seafood, canned vegetables, canned meat, canned ready meals, and others. The canned fish and seafood segment will contribute 40% to the growth of the market. New product launches are a major factor driving market growth. 

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Key Topics Covered:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global soup market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global soup market 2017 - 2021 ($ million)

• 4.2 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments 
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel
• Exhibit 42: Market opportunity by Distribution Channel ($ million)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 44: Chart on Product - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 46: Chart on Comparison by Product
• Exhibit 47: Data Table on Comparison by Product

• 7.3 Dried - Market size and forecast 2022-2027
• Exhibit 48: Chart on Dried - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Dried - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Dried - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Dried - Year-over-year growth 2022-2027 (%)

• 7.4 Canned - Market size and forecast 2022-2027
• Exhibit 52: Chart on Canned - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Canned - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Canned - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Canned - Year-over-year growth 2022-2027 (%)

• 7.5 UTH - Market size and forecast 2022-2027
• Exhibit 56: Chart on UTH - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on UTH - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on UTH - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on UTH - Year-over-year growth 2022-2027 (%)

• 7.6 Other - Market size and forecast 2022-2027
• Exhibit 60: Chart on Other - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Other - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Other - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Other - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Product 
• Exhibit 64: Market opportunity by Product ($ million)
• Exhibit 65: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 Italy - Market size and forecast 2022-2027
• Exhibit 103: Chart on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Italy - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 107: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Amys Kitchen Inc. 
• Exhibit 119: Amys Kitchen Inc. - Overview
• Exhibit 120: Amys Kitchen Inc. - Product / Service
• Exhibit 121: Amys Kitchen Inc. - Key offerings

• 12.4 B and G Foods Inc. 
• Exhibit 122: B and G Foods Inc. - Overview
• Exhibit 123: B and G Foods Inc. - Product / Service
• Exhibit 124: B and G Foods Inc. - Key offerings

• 12.5 Baxters Food Group Ltd. 
• Exhibit 125: Baxters Food Group Ltd. - Overview
• Exhibit 126: Baxters Food Group Ltd. - Product / Service
• Exhibit 127: Baxters Food Group Ltd. - Key offerings

• 12.6 Blount Fine Foods 
• Exhibit 128: Blount Fine Foods - Overview
• Exhibit 129: Blount Fine Foods - Product / Service
• Exhibit 130: Blount Fine Foods - Key offerings

• 12.7 Campbell Soup Co. 
• Exhibit 131: Campbell Soup Co. - Overview
• Exhibit 132: Campbell Soup Co. - Business segments
• Exhibit 133: Campbell Soup Co. - Key offerings
• Exhibit 134: Campbell Soup Co. - Segment focus

• 12.8 Conagra Brands Inc. 
• Exhibit 135: Conagra Brands Inc. - Overview
• Exhibit 136: Conagra Brands Inc. - Business segments
• Exhibit 137: Conagra Brands Inc. - Key news
• Exhibit 138: Conagra Brands Inc. - Key offerings
• Exhibit 139: Conagra Brands Inc. - Segment focus

• 12.9 DR KELLYANN LLC 
• Exhibit 140: DR KELLYANN LLC - Overview
• Exhibit 141: DR KELLYANN LLC - Product / Service
• Exhibit 142: DR KELLYANN LLC - Key offerings

• 12.10 General Mills Inc. 
• Exhibit 143: General Mills Inc. - Overview
• Exhibit 144: General Mills Inc. - Business segments
• Exhibit 145: General Mills Inc. - Key news
• Exhibit 146: General Mills Inc. - Key offerings
• Exhibit 147: General Mills Inc. - Segment focus

• 12.11 Kettle and Fire Inc 
• Exhibit 148: Kettle and Fire Inc - Overview
• Exhibit 149: Kettle and Fire Inc - Product / Service
• Exhibit 150: Kettle and Fire Inc - Key offerings

• 12.12 Nestle SA 
• Exhibit 151: Nestle SA - Overview
• Exhibit 152: Nestle SA - Business segments
• Exhibit 153: Nestle SA - Key news
• Exhibit 154: Nestle SA - Key offerings
• Exhibit 155: Nestle SA - Segment focus

• 12.13 Ottogi Co. Ltd. 
• Exhibit 156: Ottogi Co. Ltd. - Overview
• Exhibit 157: Ottogi Co. Ltd. - Product / Service
• Exhibit 158: Ottogi Co. Ltd. - Key offerings

• 12.14 Savory Creations International Inc.
• Exhibit 159: Savory Creations International Inc. - Overview
• Exhibit 160: Savory Creations International Inc. - Product / Service
• Exhibit 161: Savory Creations International Inc. - Key offerings

• 12.15 The Kraft Heinz Co. 
• Exhibit 162: The Kraft Heinz Co. - Overview
• Exhibit 163: The Kraft Heinz Co. - Business segments
• Exhibit 164: The Kraft Heinz Co. - Key offerings
• Exhibit 165: The Kraft Heinz Co. - Segment focus

• 12.16 The Kroger Co. 
• Exhibit 166: The Kroger Co. - Overview
• Exhibit 167: The Kroger Co. - Product / Service
• Exhibit 168: The Kroger Co. - Key offerings

• 12.17 Unilever PLC 
• Exhibit 169: Unilever PLC - Overview
• Exhibit 170: Unilever PLC - Business segments
• Exhibit 171: Unilever PLC - Key news
• Exhibit 172: Unilever PLC - Key offerings
• Exhibit 173: Unilever PLC - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 174: Inclusions checklist
• Exhibit 175: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 176: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 177: Research methodology
• Exhibit 178: Validation techniques employed for market sizing
• Exhibit 179: Information sources

• 13.5 List of abbreviations 
• Exhibit 180: List of abbreviations

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