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 Market by Product Type (Dried and Wet), End User (Commercial Sector and Household Sector), Packaging (Bottles, Canned and Packets), and Distribution Channel (Supermarket/Hypermarket, Online Store, Convenience Store, Food Service and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027
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.
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The demand for packaged soup is expected to increase during the forecast period, owing to rise in number of consumers inclining toward convenience food including packaged soup across the world. In addition, many manufacturers are introducing plant-based and organic packaged soup in the market, which is expected to boost the growth of the packaged soup market in terms of value sales during the forecast period.
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.
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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).
The key players operating in the global packaged soup industry 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 findings of the study
By product type, the dried segment accounted for the highest packaged soup market share in 2019, growing at a CAGR of 5.80% from 2021 to 2027.
By End user, the household sector segment accounted for the highest market share in 2019, growing at a CAGR of 5.80% from 2021 to 2027.
By Packaging, the packets segment accounted for the highest market share in 2019, growing at a CAGR of 5.40% from 2021 to 2027.
By distribution channel, the supermarket/hypermarket segment accounted for the highest market share in 2019, growing at a CAGR of 5.20% from 2021 to 2027.
By Region, North America occupied maximum share in the packaged soup market in 2019 and is expected to dominate the market during the forecast period.
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Table Of Content:
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
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