Soup Market Outlook: Forecasted Growth at a CAGR of 3.24% from 2024 to 2032 ⅼ Renub Research

The soup market is anticipated to attain US$ 25.17 billion by 2032, as per Renub Research. Soup is a liquid dish made with the aid of simmering meat, rooster, fish, vegetables, or legumes with seasonings in water, stock, milk, or other liquids. It has historical origins, dating back to when vessels were first used to keep liquid. Before fire-resistant pots, soups were cooked by using adding hot stones. The slow cooking method allowed nourishment to be extracted from small portions of hard or bony meat and fish.

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Soup market reached US$18.89 Billion in 2023 and is forecast to develop at a CAGR of 3.24% from 2024 to 2032. The demand for quick meals is increasing because of changing existence, prompting companies to innovate with convenient field designs. Additionally, client choices for healthier ingesting options power market enlargement. Instant, dehydrated, and ultra-excessive temperature soups are anticipated to dominate the soup marketplace due to their ease of coaching and growing demand amid busy lifestyles.

The expanding vegan demographic profoundly impacts the intake of vegetable stocks and broths globally. Major producers are providing vegan soups in numerous packaging options to cater to this demand. Unlike non-vegetarian soups, vegetable soups are desired through fitness-conscious buyers except the vegan community, bolstering marketplace increase. According to the Vegan Society Organization, projections endorse that 40% of the worldwide populace will consume traditional meat, 35% will choose clean-label meat, and 25% will select vegan meat substitutes via 2040.

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Key Player in the World Soup Market

The global soup market features significant players such as Campbell Soup Company, Nestle S.A., Baxters Food Group Ltd., General Mills Inc., Conagra Brands, Inc., Premier Foods, Hindustan Unilever Group, and Associated British Foods Inc.

• In March 2024, Campbell's introduced its inaugural limited-time soup flavor featuring grilled cheese and tomato.
• Nestlé debuted six single-serve instant soup options in 2023.
• In November 2023, Peninsular Export Company unveiled SAARRU, India's first native soup, offering three regional cuisine-inspired varieties.
• In October 2023, Heinz expanded its Classics range with Broccoli and Stilton, Spicy Parsnip, French Onion, and Chicken Broth flavors.

Instant soup is one of the predominant varieties in the global soup market.

In the modern era, where convenience is paramount, the popularity of instant food choices across different sectors is undeniable. Among these options, instant soup has emerged as a leading contender in the global soup market, enticing consumers with its simplicity, wide range of flavors, and cost-effectiveness. Backed by extensive data and surveys, instant soup is a preferred meal solution for people worldwide. In 2022, Pacific Foods introduced a new line of organic canned ready-to-eat soups and chilis, packaged in containers lined with infinitely recyclable, BPA-free material.

Vegetarian soup is experiencing rapid growth as one of the burgeoning categories within the global soup market.

The global Vegetable Soup market has surged due to environmental awareness, government support, and technological advancements, offering online and offline sales opportunities. Collaborative efforts between the private and public sectors can spur policy development, research, and investment, further fueling market growth amid increasing consumer demand.

The United States has become a significant participant in the worldwide soup industry.

The shift towards soups as a healthier meal choice and their preference as a quick option, along with the introduction of premium, clean-label, and innovative flavors, are set to drive growth in the United States soup market. Busy lifestyles, especially in the United States, where convenient meal options are favored, contribute significantly to this growth. Manufacturers' focus on soup innovations aligned with snacking trends and ensuring a diverse soup selection further boosts sales. Many companies cater to health-conscious consumers by offering products like Health Valley Organic's salt-free lentil and split pea soups, endorsed by the American Heart Association. Campbell's Soup, the leading brand in the U.S., offers a wide array of options, including ready-to-serve, condensed, chilled, and UHT soups. Upton's Naturals recently launched three new vegan ready-to-eat soup varieties in July 2022, catering to the evolving preferences of American consumers.

Type - Global Soup Market breakup in 5 viewpoints:
1. Instant
2. Canned
3. Dehydrated
4. Chilled
5. Others

Category - Global Soup Market breakup in 2 viewpoints:
1. Vegetarian
2. Non-Vegetarian

Distribution Channel - Global Soup Market breakup in 3 viewpoints:
1. Supermarkets & Hypermarkets
2. Convenience Stores
3. Online

Country - Global Soup Market breakup of 25 Countries Covered in the Report:
1. North America

1.1 United States
1.2 Canada

2. Europe

2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey

3. Asia Pacific

3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand

4. Latin America

4.1 Brazil
4.2 Mexico
4.3 Argentina

5. Middle East & Africa

5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

All the Key players have been covered from 3 Viewpoints:
• Overview
• Recent Development
• Revenue Analysis

Company Analysis:

1. The Campbell Soup Company
2. Nestle S.A.
3. Baxters Food Group Lmt.
4. General Mills Inc.
5. Conagra Brands, Inc.
6. Premier Foods
7. Hindustan Unilever Group
8. Associated British Food Inc.

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