Global Dried Soup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Dried Soup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Dried Soup Market is projected to register a CAGR of 3.21% during the forecast period 2019-2024.

Key Highlights

• Rising demand for healthy food products is expected to boost the demand for dried soups in developed economies, which accounts for a significant share in the market studied.
• One of the key trends that may gain traction in the growth of the dried soup market is the packaging innovations in the soup market. Soup manufacturers have developed innovative and sustainable packaging, which provides better protection, tampering resistance. The packaging may also contain marketing communications and graphic designs, which can be used for marketing purposes.

Key Market TrendsGrowing Demand for Ready to Eat Food

Rising working population and hectic lifestyles have left negligible time for preparing a balanced and nutritious meal. Consequently, the demand for convenience and ready-to-eat foods is experiencing a significant increase across the globe. These foods cater to both the nutritional needs and diversified tastes of consumers. Furthermore, the introduction of value-added gluten-free and organic variants of dried soup is expected to increase product demand. Additionally, the expansion of organized distribution channels such as grocery and convenience stores, along with several online grocery portals, has enhanced the product accessibility. Apart from this, innovative product packaging with the required nutritional information and other health benefits also helps in persuading the consumers to buy dried soup.

Europe Holds the Largest Market Share in Dried Soup Market

The dried soup market has been geographically segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The European region held the largest market share in 2015, followed by Asia-Pacific and North America. The growing demand for high-quality meals that can be prepared at short notice has helped the growth of this market in Europe. Russia is the most attractive market in this region, followed by Italy and the United Kingdom. United States is a major market in North America, but sales have been on a decline, due to health concerns related to dried soups. However, new product launches and extensive advertising by companies are expected to increase the sales during the forecast period. China and India are the major markets in Asia-Pacific. The rising disposable incomes and shift in the taste of consumers are expected to drive the growth of the market in the region.

Competitive Landscape

The market for soups is highly fragmented with a large number of international and regional vendors, with vendors competing for innovation, pricing, and distribution. Some of the major key players in the dried soup market are B&G Foods, Inc, Campbell Soup, Hain Celestial, Kraft Heinz Company, and Unilever, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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