Boosted by Soaring Demand for Convenience Food, Global Packaged Soup Market to Reach US$18.3 Bn by 2027

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Boosted by Soaring Demand for Convenience Food, Global Packaged Soup Market to Reach US$18.3 Bn by 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

Report Ocean has recently published a new research study on the global packaged soup market. According to the study, the market is expected to exhibit strong growth potential over the period from 2020 to 2027. The report is titled “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.”

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The global packaged soup market reached a valuation of US$11.7 bn in 2019. Rising at a CAGR of 6.30% from 2021 to 2027, the market is projected to reach US$18.3 bn by the end of the forecast period. The significant increase in the demand for convenience foods, such packaged soup, among consumers across the world has emerged as the key driving factor behind the growth of this market. Moreover, the mushrooming of quick service restaurants in every corner is further fueling the demand for packaged soup, reflecting positively on the market. However, the surge in consumer awareness level regarding the harmful effects of artificial preservatives added to packaged soup may hamper the market’s growth in the years to come. Nonetheless, rising number of consumers looking for e rising trend of veganism and the rapid expansion in online retail platforms are anticipated to provide immense growth opportunities to market players during the forecast period. In addition, the continuous launch of new flavors of packaged soups in the global market is likely to add to the market substantially in the near future. The ongoing expansion in online stores is also expected to support this market over the next few years.

Impact of Covid 19 on Global Packaged Soup Market

The outbreak of coronavirus has a severe impact on the global packaged soup market. Cafes and small eateries brought significant popularity to packaged soups across the world. However, with the restrictions on operations of restaurants and food joints and the disruption in supply chain have hampered this market substantially. Nonetheless, as the pandemic begins to slowdown, the market will gradually recover.

Key Players Focus on New Product Launches

Key players operating in the global packaged soup market mainly focus on product innovations and expansion strategies to cut down competition, 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.

In this report, the global packaged soup market has been segmented on the basis of the product type, end user, packaging distribution channel, and the region. By product type, the market has been classified into dried soup and wet soup. In terms of the end user, the market has been categorized into the household sector and the commercial sector. Based on the packaging, the market has been segmented into bottles, canned soups, and packets. By distribution channel, the market has been classified into convenience stores, online store, supermarket/hypermarket, food service and others. Geographically, North America, Europe, Asia Pacific, and LAMEA have been considered as the prominent regional markets for packaged soups in this research study.

Key Findings:

  • Key players operating in the global packaged soup market mainly focus on product innovations and expansion strategies to cut down competition, worldwide.
  • The mushrooming of quick service restaurants in every corner is fueling the demand for packaged soup further.

The global packaged soup market is segmented into:

By Product type

  • Dried
  • Wet

By End user

  • Commercial sector
  • Household sector

By Packaging

  • Bottles
  • Canned
  • Packets

By Distribution Channel

  • Supermarket/Hypermarket
  • Convenience store
  • Online store
  • Food service
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Indonesia
    • Rest of Asia Pacific
  • LAMEA
    • Lain America
    • Middle East
    • Africa

Companies Mentioned in the Report

  • The Hain Celestial Group
  • ConAgra Inc.
  • KETTLE CUISINE LLC
  • General Mills
  • B&G Foods Inc.
  • Campbell Soup Company
  • Ajinomoto Co. Inc.
  • Unilever
  • Nestlé
  • The Kraft Heinz Company

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