Global Soup Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Soup Market: Overview

"The Soup Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Soup is usually a liquid food that is served hot and considered as the initial course of the meal and good starters. It can be prepared using various ingredients such as vegetables and meat, water, juice and other liquids.

Growing demand for convenience food across the globe and an increasing number of the working population are major factors expected to drive the growth of the global soup market. In addition, increasing consumption of multi-cousin food, and increasing demand for ready-to-cook products among the young population are some other factors expected to drive the revenue growth of the target market over the forecast period. The availability of soups in different flavors and savory tastes is a factor anticipated to increase the demand for soups globally and is expected to support growth in terms of revenue in the global soup market. However, stringent regulation and product recall due to the presence of harmful substance are factors expected to restrain the growth of the global soup market.

Major manufacturers are adopting various growth strategies such as investments in R&D activities, mergers and acquisitions, and launching new products to meet the changing requirements of the consumers is major trend witnessed in the target market currently.

Global Soup Market: Segmental Analysis

Among the type segments, the dried segment is expected to account for significant revenue shares of the global market. This can be attributed to the extended shelf life of dried food products compared to other type segment. Among the sales channel segments, the supermarkets & hypermarkets segments are expected to register significant growth, owing to a strong network of distributors and availability of multiple variants at a single place.

Global Soup Market: Regional Analysis

Europe is expected to dominate the soup market and continue its dominance over the forecast period. This can be attributed to growing consumption of convenience food. In addition, the strong presence of major soup manufacturing companies is another factor anticipated to propel growth of target market in the region. North America soup market is expected to account for significant revenue shares of the global market, owing to the increasing number of the working populace and high consumption of pre-packaged food products coupled with higher disposable income. The soup market in Asia Pacific is expected to register significant growth, owing to the rapidly growing food sector. In addition, increasing adoption of western lifestyle and food culture among individuals and the growing population are some additional factors expected to support revenue growth of the target market in the region. Markets in Latin America and Middle East & Africa are expected to register substantial growth, owing to rapid industrialization and increasing awareness regarding the health benefits of the consumption of soups in countries in the region.

Global Soup Market Segmentation:

Segmentation by Type:

• Dried
• Wet
• Canned
• UHT (Ultra-high Temperature Processing)

Segmentation by Sales Channel:

• Supermarkets & Hypermarkets
• Convenience Stores
• Online

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa