Global Dried Soup Market - Growth, Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Food & Beverages | No. of Pages - 160 | Published By - Mordor Intelligence

Report Highlights

Market Insights

The global dried soup market is expected to grow at a CAGR of 2.5% during the forecast period, to reach a value of USD XX million by 2021. The growing demand for convenience food is a major driver for this market, while, on the other hand, health concerns restrain the market growth. New product launches by vendors ensure that the consumers are exposed to new varieties. Campbell, Nestle, Kraft Heinz, and Unilever are some of the key players in the global market. The Lipton Recipe Secrets by Unilever dominates the U.S market with the total sales reaching USD 84 million in 2015.

Market Dynamics

The increasing demand for convenience food coupled with a rise in disposable incomes and health consciousness among the people drive the growth of this market. Strategic partnerships with companies act as a catalyst for the expansion of the indsutry. However, health concerns related to preservatives added to dried soups for longer shelf-life, tend to restrain the market.  The health conscious population is less inclined to opt for such products. To tackle this problem, vendors are introducing organic soups that are healthier than the regular ones. Innovation, in both product and packaging, plays a key role to attract the consumers.

Market Segmentation

The global dried soup market has been segmented by content into vegetarian and non-vegetarian; wherein, the vegetarian segment dominates the market. Regarding preparation, the market is segmented into regular and organic, with the regular dried soup segment dominating the market. However, the demand for organic dried soups is on the rise, due to health consciousness among consumers. By packaging, the market is segmented into cup and pouch. The market is further segmented by the distribution channel into super markets/hyper markets, convenience stores, grocery stores, online, and others. The supermarkets/hyper markets segment contributes the highest revenue with a market share of about 44%.

Regional Analysis

The dried soups market has been geographically segmented into North America, Europe, Asia-Pacific, South America, and 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 UK. The US 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 Environment & Market Players

The market for soups is highly fragmented with a large number of international and regional vendors, with vendors competing for innovation, pricing, and distribution. Huge investment made by companies in R&D is expected to boost the market, as innovation plays a key role to succeed. Private brands are increasing their market share gradually, thud threatening the position of leading brands.

Some of the major players in the market include -

Campbell Soup

Kraft Heinz

Nestlé

Nissin Foods

Unilever

Key Deliverables in the Study

Market analysis for the global dried soup market, with region specific assessments and competition analysis on global and regional scale.

Market definition along with the identification of key drivers and restraints.

Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.

Extensively researched competitive landscape section with profiles of major companies along with their market share.

Identification and analysis of the macro and micro factors that affect the market on both global and regional scales.

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.

Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped

 

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