Prepared Soup Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Prepared Soup Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
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 reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
- Current and Future Threats
- Accurate Trend Analysis
- Regional Assessment
- Industrial Analogy
- COVID-19 Impact
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Regional Assessment
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
Industrial Analogy
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
COVID-19 Impact
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
- What are the diverse growth parameters influencing the market?
- Which regions will contribute largely to the growth of the market
- What are the recent innovations and technological advancements in the market?
- What are the emerging trends across the market?
- How has COVID-19 affected the market?
- What will be the post-pandemic scenario of the market?
- What are the major threats that will dent the growth prospects of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report