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 : July, 2020 | Food and Beverages | PPT format

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

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.