Ready-to-Eat Soup Market By Product Type (Tomato Ready to Eat Soup, Beans Ready to Eat Soup, Chicken Ready to Eat Soup, Beef Ready to Eat Soup, Mixed Vegetables Ready to Eat Soup, Others) , By Form (Dry Soup, Wet Soup) By Packaging Type (Bottles, Cans, Pa

Ready-to-Eat Soup Market By Product Type (Tomato Ready to Eat Soup, Beans Ready to Eat Soup, Chicken Ready to Eat Soup, Beef Ready to Eat Soup, Mixed Vegetables Ready to Eat Soup, Others) , By Form (Dry Soup, Wet Soup) By Packaging Type (Bottles, Cans, Packets) By Application (HoReCa, Residential, Others) By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Sales Channel, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2034

The ready-to-eat soup market was valued at $1.2 billion in 2023, and is projected to reach $2.7 billion by 2034, growing at a CAGR of 8% from 2024 to 2034.

Ready-to-eat soup refers to pre-packaged soup products that require minimal or no preparation before consumption. These soups are available in cans, pouches, or cartons and are designed for convenience, allowing consumers to enjoy a hot meal with little effort. They are often pre-cooked and may only need heating in a microwave or on a stovetop.

The growth of the ready-to-eat soup market is witnessing robust growth due to factors such as busy lifestyles, increase in participation of women in the workforce, and rise in consumer preferences for on-the-go food. In addition, rise in awareness of healthy eating has encouraged manufacturers to develop fortified soups containing vitamins, minerals, and plant-based proteins to cater to the growing needs of health-conscious consumers. A 2023 study launched at Expo West revealed that 82% of consumers use plant-based products monthly. Additionally, 55% increased their intake over the past two years, and 63% plan to use more in the next two years. Moreover, shift towards nuclear families and single-person households has increased reliance on ready-to-eat meals, thus boosting the market growth. Furthermore, expansion of e-commerce platforms has made ready-to-eat soups more accessible to consumers globally, which significantly contributes toward the market growth. Companies adopting sustainable ingredient sourcing practices enhance brand trust and loyalty, which further acts as a key driving force of the global market. For instance, in the 2023 ATLAS study, 44% of consumers reported checking both ingredient and nutrition labels more frequently when selecting products, an increase from 35% in 2020. However, higher cost associated with ready-to-eat soups than preparing soup from fresh ingredients limit their affordability for cost-conscious consumers. Moreover, presence of preservatives, high sodium content, and lack of fresh ingredients in ready-to-eat soups make them less nutritious, which significantly hampers the market growth. On the contrary, innovations like microwaveable pouches, easy-open cans, and sustainable packaging improve consumer experience and appeal to eco-conscious buyers. Such developments are expected to open new avenues for the expansion of the global market during the forecast period.

The global ready-to-eat soup market is segmented into product type, form, packaging type, application, distribution channel, and region. Depending on product type, the market is classified into tomato ready-to-eat soup, beans ready-to-eat soup, chicken ready-to-eat soup, beef ready-to-eat soup, mixed vegetables ready-to-eat , and others. On the basis of form, it is bifurcated into dry soup and wet soup. BY packaging type, it is categorized into bottles, cans, and packets. As per application, it is divided into HoReCa, residential, and others. By distribution channel, it is fragmented into supermarkets/hypermarkets, convenience stores, online sales channel, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

Depending on product type, the tomato ready-to-eat soup segment held the highest market share in 2023.

On the basis of form, the wet soup segment was the major shareholder in 2023.

By packaging type, the cans segment acquired the largest share in 2023.

As per application, the residential segment dominated the market, in terms of share, in 2023.

By distribution channel, the supermarkets/hypermarkets segment garnered the highest share in 2023.

Region wise, North America was the major revenue generator in 2023.

Competition Analysis

The major players operating in the global ready-to-eat soup market include Campbell Soup Company, General Mills Inc., Amy's Kitchen, Inc, Nestle S.A., Pacific Foods, Baxters Food Group Limited., Conagra Brands, Inc., The Kraft Heinz Company, Hindustan Unilever Limited, and Kettle & Fire. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.

Key Market Segments

By Product Type

Tomato Ready to Eat Soup
Beans Ready to Eat Soup
Chicken Ready to Eat Soup
Beef Ready to Eat Soup
Mixed Vegetables Ready to Eat Soup
Others

By Form

Dry Soup
Wet Soup

By Packaging Type

Bottles
Cans
Packets

By Application

HoReCa
Residential
Others

By Distribution Channel

Supermarkets/Hypermarkets
Convenience Stores
Online Sales Channel
Others

By Region

North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA

Key Market Players

Campbell Soup Company
General Mills Inc.
Amy's Kitchen, Inc
Nestle S.A.
Pacific Foods
Baxters Food Group Limited.
Conagra Brands, Inc.
The Kraft Heinz Company
Hindustan Unilever Limited
Kettle & Fire