Exploring the Top Soup Companies in the Market 2024 | IMARC Group

Soup is one of the most basic dishes in the culinary field and is consumed globally in numerous ways. It is typically made by combining various ingredients such as vegetables, meat, or fish with a liquid, stock, juice, or water. The meal can be eaten either warm or hot, and it is a favorite primarily for its hydrating aspect hence its high water and vitamin content. Several types of soups have been recognized; for instance, there are clear soups such as broth, consommé, and thicker soups like chowder and bisque. There are also cold soups such as gazpacho. However, within the industry, soups are categorized into two groups: ready-to-eat and condensed, based on the diversity of consumer tastes and preferences. The food item is a preferred household meal and in commercial food serving places. It is easily prepared, and stored and can be co-treated as an appetizer or side dish. Moreover, the dietary meal is commonly recommended for patients and individuals undergoing weight loss processes since forms various plant or animal products.

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The global soup market size reached US$ 11.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.

The globalization of the soup market is accelerating as the sector grows due to changes in consumer behavior and players' innovations. Additionally, an enhanced focus on consumers' lifestyles and the growing popularity of convenient and fast-to-cook food constitutes a significant market driver. Manufacturers are developing their lines of pre-made soup packages that only require heating, either over-stove or microwave to benefit the urban population. Along with this, the major producers are developing soup recipes with organic components, reduced salt, or no additional preservatives. This widespread variety of soups appeals to health-conscious buyers and increases the potential market size.

Some of the Top Leaders in the Global Soup Industry

• B&G Foods Inc.
• Baxters Food Group Limited
• Blount Fine Foods
• Campbell Soup Company
• Conagra Brands Inc.
• General Mills Inc.
• Nestlé S.A.
• Ottogi Corporation
• Premier Foods Group Limited
• The Hain Celestial Group Inc.
• The Kraft Heinz Company
• Unilever plc

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Soup companies are benefiting from the rising popularity of foreign foods and the increasing diversification of cuisines. This trend is fueling the growth of soup consumption as consumers seek out options with exotic tastes. Apart from this, technological innovations include easy-opening containers and new bowl designs, enhancing the convenience of the product, which is also acting as a significant factor driving the product sales. Furthermore, the popularity of eco-friendliness leads producers to introduce changes in their manufacturing policies. This strategy additionally promotes the brand's image and integrates it into the regulatory framework. These trends, combined with state support and the expansion of retail sectors and e-market are creating a positive market outlook. Some of the other factors driving the market include rapid urbanization, inflating disposable income levels of individuals, and growing number of foodservice outlets on a global level.

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This release was published on openPR.