Prepared Soup Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Prepared Soup Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : May, 2021 | Food and Beverages

Report Digest

Prepared Soup Market – Introduction

Soup is universally perceived as healthy and cost-efficient food. Over the past decade, demand for soup has spiked with the millennial population preferring the soup varieties present on the retail aisles. Prepared soup is a development of the on-the-go trend which is highly embraced by the increasing population of time-pressed consumers.

Among the category of prepared soup, consumers can find categories of instant soup and soup mixes. Within which consumers can also enjoy dry and wet variants of prepared soups. The prepared soup category does not include noodles soups, gravies and stocks available in the soup marketplace.

Prepared Soup Market – Notable Developments

  • BOU, the better for you line of cooking ingredients launched a new line of instant soup cups in October 2018. The BOU soup cups features non-GMO, no artificial flavors and healthier alternative packed in microwaveable and recyclable cup with transparent lid.
  • Mug Shots, an instant snack brand launched of a range of cup soups in October 2018. The instant soup range includes eight flavors and available in the pouch packaging.
  • In July 2018, Nissin, a global leader of instant noodles and soups announced the company’s expansion plans that includes collaboration with ramen noodle with an aim to introduce options of ‘premium’ instant.
  • In September 2018, Cargill launched three label-friendly potato starches - SimPure starches for meat and culinary applications. The new starch offering is developed for both cook-up as well as instant applications.

Some of the most prominent competitors operating in the competitive landscape of global prepared soup market include –

  • Knorr
  • Nestle
  • Nissin Foods
  • Conad
  • General Mills
  • Hain Celestial
  • Unilever
  • Kraft Heinz
  • Lipton
  • Campbell Soup

Prepared Soup Market Dynamics

Preference for Cup Packaging Picking Up among Prepared Soup Consumers

Although pouches are the traditional packaging solutions available on the retail aisles in the prepared soup category, demand for cup packaging in prepared soup market is increasing. With manufacturers introducing innovative and sustainable packaging solutions, prepared soups available in attractive and convenient packaging are gaining significant consumer traction. Also, prepared soup cups fit well in the ongoing on-the-go trend wherein takeout packaging that allows easy carriage is being highly embraced. In a bid to accommodate consumer demand, prepared soup producers are collaborating with packaging innovators to introduce out-of-the-box, shelf-stable and convenient cups made of biodegradable and recyclable materials.

Prominent Players Focus on Expansion, NPD Activities at the Forefront

Industry titans in the instant snack market are leveraging expansion strategies to gain a stronghold in the high potential markets. For instance, Nissin, the cup noodle and prepared soup giant announced in November 2018 the company’s expansion plans. The company is planning to expand its business in Asia (excluding China) with a focus on premium branding and product development.

New product development (NPD) remains the key focus of manufacturers to introduce novel product offerings and win over extensive market competition. Major NPD activities are aimed at introducing prepared soups that are healthy, without artificial ingredients and satiate consumer palate for diverse flavors.

Prepared Soup Sales Soar with Extensive Penetration throughout Distribution Channels

Prepared soup manufacturers with their strong reach across different distribution channels have increased the exposure of prepared soup. Currently, prepared soups are available throughout all retail channels that include direct to consumer channel. Consumers highly prefer convenience stores and supermarket/hypermarket to purchase multiple prepared soup variants. Also, sales through online retailers are gaining momentum in tandem with rising consumer preference for prepared food.

Prepared Soup Market – Segmentation

Prepared soup market is segmented on the basis of product type, packaging type and distribution channel.

Based on product type, the prepared soup market is segmented into,

  • Shelf-stable
  • Chilled
  • Dry
  • Wet

Based on packaging type, the prepared soup market is segmented into,

  • Cup-packed
  • Pouch-packed

Based on distribution channel, prepared soup market is segmented into,

  • Convenience stores
  • Online retailers
  • Supermarkets/hypermarkets
  • Others

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?