Global Dried Soup Market - 2022-2029

Global Dried Soup Market - 2022-2029

Market Overview

Foods like dried soup are produced by drying out the meat, produce, or other ingredients. It is a food that can be kept on the shelf after dehydration, but it usually needs water. The rise in popularity of healthy eating and the rising demand for convenience foods are responsible for the market's expansion. Using a slow air drying or freeze-drying process, the ingredients in the dried soup are dried out without losing any of the food's nutritional value. Compared to canned soups, which contain high levels of sodium and preservatives, they are more nutrient-dense. The working class is a huge fan of dried soups and regards them as a portion of convenient food. To extend the product's shelf life and draw customers, the manufacturers of dried soup are using cutting-edge packaging techniques.

The global dried soup market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 2.9% during the forecast period (2022-2029).

Market Dynamics: Increasing consumer shift in favor of veganism fuels market expansion

The dried soup market is expanding due to consumers' growing interest in veganism. This results from consumers becoming more aware of sustainability, social impact, and health issues. Minerals, vitamins, nutrients, and proteins abound in dried soups. The growing trend of veganism among consumers is driven by concerns for the welfare of animals and their health. Growing consumer demand for fast food and rising public awareness of soups' health advantages contribute to the market's expansion.

On the other hand, the market is expanding as more consumers become health-conscious. This is because consumers have chosen such products due to the nutritional advantages of dried soup. Dried soup is easy to carry with you and contains nutrients that give you energy, vitamins, and minerals. The consumption of dried soups has also increased as more people enter the workforce.

However, high competition and strict regulations are a couple of the things that are expected to obstruct the growth of the dried soup market. The high levels of salt and corn in dried goods raise a person's blood pressure and blood sugar, which is harmful to their health. Thereby impeding market expansion.

Market Segmentation: The pouch-packed dried soups segment accounted for the highest share of the global dried soup market

Dried soups packaged in pouches is a product that is selling well. It is a liquid that has been concentrated and has been given additional ingredients and flavorings. The pouch packs are convenient because they are simple to carry and store. These products are more nutritious than their canned counterparts, contributing to their marketability and growth. On the other hand, all the ingredients needed to make a cup-packed dried soup are contained in a single package due to clever manufacturing techniques. As there is no need to open different packages for various ingredients, it saves time and effort. The soups are authentic Italian cuisine dishes that can be eaten on their own or with bread and can be made from any food, including vegetables, legumes, or meat.

The primary distribution channel segment in the global market for dried soups is hypermarkets and supermarkets. Consumers' rising disposable income, particularly in developing nations like China, India, and Brazil, is credited with driving the growth of this market segment. Growing purchasing power results in increased spending on food, which includes a variety of goods, including ready-to-eat foods like snacks and meals packed or canned at home and other items bought from supermarkets or hypermarkets. Throughout the forecast period, this factor is anticipated to fuel industry expansion.

Geographical Penetration: North America are dominating region during the forecast period

North America holds the largest share of the global dried soup market. This is attributed to rising government initiatives to improve consumer awareness of new vegetarian soup products and rising consumer demand for novel and distinctive flavors. The market in this region is expanding due to rising consumer interest in a healthy diet and an expanding working population. However, due to the ease of resource availability, Asia Pacific is predicted to grow at a higher CAGR during the forecast period. The market in this region is expanding as a result of rising animal welfare awareness, a ban on many products derived from animals, and rising worries about food made from animals.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major key players are Campbell Soup, Kraft Heinz, Toyo Suisan, Symington's, Premier Foods, Nissin Foods, General Mills, Frontier Soups, Acecook Vietnam and Unilever. To maintain their position in the market, businesses are increasing their marketing and R&D expenditures and broadening their distribution networks. Additionally, they are implementing competitive strategies by increasing their investment in product development to meet the tastes and preferences of the new generation of consumers. The businesses use a variety of corporate strategies, including partnerships, mergers, and acquisitions, in addition to a strong product portfolio, to break into the dried soup market. For instance, On 4th August 2021, Pacific Foods, a subsidiary of the Campbell Soup Co., launched plant-based soups and broths. Both of the new product lines are vegan, organic, and made with sustainably sourced ingredients, according to the USDA. According to the company, the Creamy Plant-Based Broths from Pacific Foods are the first liquid broth to use pea protein. The broths are available in two flavors—herb and roasted garlic and zesty ginger and turmeric—and are free of soy, gluten, and genetically modified organisms.

COVID-19 Impact: Positive impact on the global dried soup market

The global dried soups sales market increased during the pandemic. Particularly among middle-class and higher-income consumers in the area, dried soup is growing in popularity. China's dried soup market reached a new high during COVID-19. Dry soup is quickly emerging as a replacement for traditional soup due to the pandemic's disruption of offline leisure snacking consumption, which has forced consumers to turn to online shopping. For instance, 320 billion bowls of soup are consumed worldwide each year, or 500 million in China, where 60% of families eat soup daily. To put it another way, China has a sizable soup market.

The global dried soup market report would provide an access to approximately 53 market data tables, 40 figures and 93 pages