The Soup Global Market Report 2023, provides comprehensive information on the soup market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Soup Global Market Report 2023, the market size is expected to grow from $15.53 billion in 2022 to $16.08 billion in 2023 at a compound annual growth rate (CAGR) of 3.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global soup is expected to grow to $18.36 billion in 2027 at a CAGR of 3.4%.
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Product innovations are a key trend gaining popularity in the soup market. The companies operating in the soup market or packaged soup sector are focusing on developing or manufacturing organic and plant-based soups to capture the untapped market and strengthen their business position across the globe. In April 2021, Pacific Foods Of Oregon, a subsidiary of Campbell Soup Company, is investing heavily in plant-based innovation with the launch of Creamy Oat Milk Soups and Creamy Plant-Based Broths. The creamy oat milk soups are the first oat milk-based soups to hit the market, and they are predicted to attract a larger group of audience with an interest in plant-based foods.
The soup market is segmented:
1) By Type: Canned/Preserved Soup, Chilled Soup, Dehydrated Soup, Frozen Soup, Ultra-High Temperature Processing (UHT) Soup
2) By Category: Vegetarian Soup, Non-Vegetarian Soup
3) By Packaging: Canned, Pouched, Other Packagings
4) By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Online Stores, Other Distribution Channels
North America was the largest region in the soup market in 2022.
The table of contents in TBRC’s soup market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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