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Soup Market to Exhibit 2.79% CAGR by 2027 Backed by Increasing Consumer Base in Europe, states Fortune Business Insights™

Harshal Jaiswal Harshal Jaiswal
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The global

soup market

size is expected to

foresee significant growth by exhibiting a CAGR of 2.79% between 2020 and 2027.

Factors such as increasing demand for convenience food products and rapid

urbanization is anticipated to propel the market to reach USD 21.0 Billion by

2027. Fortune Business Insights, publish this information in its latest report,

titled “Soup Market Size, Share & Industry Analysis, By Type (Instant,

Dehydrated, Canned, Chilled, and Others), Distribution Channel (Hypermarket/ Supermarket,

Convenience Store, Online Retail, and Others), and Regional Forecast, 2020 –

2027.” The reports further observes that the market was worth USD 16.12 Billion

in 2019.

The emergence of COVID-19 has

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brought an unprecedented impact on businesses across industries. However, this

too shall pass. Rising support from governments and several companies can help

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anticipated to be impacted by the pandemic.

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Soup is a type of liquid food that is

typically served warm or hot that includes combination of several vegetables or

meat along with added water. It is believed that this liquid food is one of the

oldest cooking food products. The oldest soup dates back to over 20,000 BC and

since then has evolved in terms of ingredients and taste. Furthermore, it is

savored during the frosty winter days as it provides warmth along with health

benefits. A warm vegetable broth brings in refreshing experience at any given

time of the day. Moreover, it can be prepared quickly, does not require long

preparation hours, and thereby satisfies the hunger pangs instantly.

What does the Report Include?

The market report includes a detailed

assessment of the various market drivers and restraints, opportunities, and

challenges that the market will face during the projected horizon. Furthermore,

the report provides comprehensive research into the regional developments of

the market, affecting the market growth during the forecast period. Moreover,

the report includes information sourced from the advice of expert professionals

from the industry by our research analyst using several research methodologies

for the market. The competitive landscape offers further detailed insights into

the strategies such as product launches, partnerships, merger and acquisition,

and collaborations adopted by the companies to maintain market stronghold

between 2019 and 2026. 

Drivers and Restraints:

Increasing Consumption of Convenience

Foods to Aid Growth

Increasing density of population and

high disposable income is driving the demand for convenience food products

across the globe. The people owing to hectic work life prefer several food

products that are ready-to-eat and can be consumed instantly. Additionally,

increasing number of women working population is anticipated to bolster the

growth of the market in the forthcoming years. Furthermore, the manufacturers

are innovating their products to cater to the increasing demand of the

consumers. Moreover, growing demand for packaged food products among developed

and developing economies will bode well for the growth of the market. For

instance, according to the Canada Agri-food report, China registered a total

sales value of USD 272, 741 Million in 2019 and is further anticipated to grow

at a rate of 7%.


Instant Soup that Held 36.78% Market

Share to Exhibit Exponential Growth

The segment Instant Soup (By Type) is

likely to witness massive market in the forthcoming years. Additionally, it

held a market share of about 36.78% in 2019 and is expected to grow gradually

owing to increasing preference for ready-to-eat snack among consumers. On the

other hand, canned soup is anticipated to hold the second-most leading share

for the market backed by large-scale penetration of the product in developed

regions. For instance, countries such as the U.S. and Germany usually prefer

canned soups to chilled and dehydrated soups.

Regional Analysis:

Large Consumer Base in Europe to

Promote Growth

Among the regions, Europe is expected

to remain at the forefront and register highest global soup market revenue

during the projected horizon. In addition to this, Europe was worth USD 6.07

Billion in 2019 and is likely to grow significantly. This is ascribable to

factors such as presence of large consumer base and high demand for processed

foods in the region. North America, on the other hand, is anticipated to be the

second-most leading region in the forthcoming years. This is attributable to

factors such as large consumer base that prefers instant food products.

COVID-19 Crisis to Favor Growth

The impact of COVID-19 is anticipated

to bolster the growth of the market. According to Fortune Business Insights,

the market will register a high rate of CAGR value in 2020 during the ongoing

pandemic situation. The lockdown enforced by several government agencies have

forced the people to remain at home. Several working professional that are

working from home and the students confined to their home space will bode well

for the growth of the market. The demand for instant food products as a

snacking option is contributing to the growth of the market.

Competitive Landscape:

Ritzy West End Introducing a $15

Takeaway Package to Stimulate Growth

In May 2020, Ritzy West End’s Chef

Ris Lacoste announced its $15 care packages that is available for delivery and

takeaway in D.C. amid the widespread effects of novel coronavirus. In times of

chaos and hardship, the West End restaurant is offering its care packages that

include a salad of the week, fresh baked bread, and pint-sized soups without

charging any delivery fees. Like Ritzy’s, there are several others who are

helping the cause to uplift the people who are suffering from devastating

effects. Furthermore, adoption of strategies such as novel product launch,

collaboration, and merger and acquisition by the companies will positively

affect the growth of the market between 2020 and 2027.

Industry Development:


January 2020:

Clarity Food Ventures LLC introduced its new range of

refrigerated soupy kits, Soup Explorers. According to the company, the food

product involves less preparation time and includes several new flavors such as

Vietnamese Vegetable Pho, American Chicken Noodle, and Moroccan Chilled

Cucumber, among others. The introduction of the product is likely to cement its

position in the global marketplace.

List of the Companies Operating in

the Market:


The Campbell

Soup Company


Nestlé S.A


Baxters Food

Group Limited


General Mills,



Conagra Brands,



Premier Foods

Group Limited


The Kraft Heinz




Unilever Limited


Ottogi Co., Ltd



British Foods plc