Dried Soup Market

Dried Soup Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Dried Soup Market grew at a CAGR of 4.3% between 2017-2021 and is estimated to be US$ 4,312.5 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.0% and is expected to reach a valuation of US$ 6,383.6 Mn by 2032 end.

There is almost no time left to prepare healthy, well-balanced meals due to the rising number of people who must work to support their families and the hectic pace at which most people live today. As a result, there is a substantial increase in demand for ready-to-eat foods worldwide. These foods satisfy the dietary requirements and the variety of consumers’ palates.

Additionally, introducing gluten-free and organic dry soup varieties with added value is projected to boost product demand. The growth of drugstores, grocery stores online, and supermarkets, in general, has also improved the accessibility of goods. Consumers may be persuaded to purchase dry soup through innovative product packaging that includes the necessary nutritional data and other health benefits.

Market Dynamic

THE RISING DEMAND FOR READY-TO-EAT AND CONVENIENCE FOOD DRIVER FOR THE GROWTH OF MARKET

The market for dried soup is anticipated to increase significantly due to the rising demand for convenience and ready-to-eat foods. The global dried soup market is expected to grow due to rising consumer awareness about the consumption of wholesome foods.

Due to its advantages over other types of soup, such as canned and condensed wet soups, dried soup makes up a large portion of the soup industry in terms of consumption. The market for dried soup is anticipated to grow due to the availability of products made with organic and gluten-free ingredients.

THE HIGH CONTENT OF CORN AND SALT IN DRIED SOUPS RESTRAIN THE GROWTH

The global market for dried soups may experience growth challenges due to the unhealthy levels of corn and salt that are thought to raise blood sugar and blood pressure. Some people believe that high salt and maize content in dry soups is harmful because it raises blood pressure and blood sugar levels. The sales of dried soup are anticipated to decline as a result.

Market Segments Covered in Report

By Product:

• Dehydrated Dried Soups
• Instant Dried Soups

By Packaging:

• Pouches
• Cups
• Boxes

By Sales Channel:

• HORECA
• Modern Trade
• Convenience Stores
• Online Stores
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Will instant-dried soups outsell instant-dried soup in the future?

The demand for instant dried soups is much higher. Sales of instant dry soup currently generate more than one-third of the revenue from the global dried soup business. Various flavors, including vegetables, grains, dried meat, and legumes, are available in instant dry soup mixes.

Additionally, for a sizable client base, the quick and simple preparation offered by Instant dry soups continues to be highly alluring. In many European nations, instant, dry soup consumption has been extremely high. Vegetarian dried soups have more potential for growth than non-vegetarian soups because of the expanding vegetarian population worldwide.

Does dried soup packed in a pouch have high preference than other segments?

Dried soups in pouches are extremely well-liked by consumers. Businesses are using new and eye-catching pouch-packing techniques that are both useful and effective. The bags presently used in the packaging of dry soup mixes increase the food’s shelf life while reducing the risk of infection.

These pouches are also very attractive, attracting customers’ attention immediately. Their adoption in packaging various food products, especially dry soup, benefits from the increased focus on employing lighter materials to build recyclable or eco-friendly pouch-based packaging solutions.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• The market for dried soup in APEJ is anticipated to exhibit a high CAGR and a market share of 42.3% during the forecast period due to rising consumer disposable income and population growth. In growing nations like India and China, investments in the food processing sector are increasing.
• Due to an increase in the number of dried soup vendors and investments by retailers in this industry, North America currently owns a sizeable portion of the worldwide dried soup market.

Competition Analysis

Many businesses prioritize product approvals, product launches, and other organic growth strategies like patents and activities. The dried soup market employed the corporate expansion strategies of acquisition and partnerships. Market participants now have a clear path to growing their clientele and businesses thanks to these initiatives. Market participants in the dried soup market are anticipated to gain from enticing growth prospects due to the expanding demand for dried soup in the global industry.

Some of the key developments that have taken place in the Dried Soup Market include the following:

• In February 2020, Knorr introduced three new vegan soup flavors in the UK. The company’s “Cheat on Meat” marketing included several products.
• In October 2019, Amy’s Kitchen introduced a new line of soup products in unique packaging to reach a larger market. The company is opening a recent New York plant to improve its capacity for sustainable production.

A list of some of the key suppliers present in the market are:

• Unilever Canada Inc. (Knorr)
• Harmony House Foods, Inc.
• Heinz Company, L.P.
• McKenzie’s
• Mother Earth Products
• Cooke Tavern Soups
• Frontier Soups
• CAMPBELL COMPANY OF CANADA
• Bear Creek Country Kitchens, LLC
• John A. McDougall, M.D.
• Harvest Right LLC

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.