Global Dried Soup Market 2016-2020
Outlook for the global dried soup market
Technavio’s market research analyst predicts that the global dried soup market will grow at a modest CAGR of around 4% by the end of the forecast period. Dried soups are a great convenience food and very portable. The convenience afforded by easy to make food is the biggest appeal for consumers with hectic lifestyles. Growing demand for nutritious and gluten free soups is a big market driver. Vendors have responded by offering a wide range of gluten free and vegan products to meet consumer needs. For instance, during January 2016, Boulder Organic introduced two new soup products, Chicken Quinoa & Kale and Chicken Vegetable Chili, which are claimed to be made from organic, gluten-free and non-GMO verified ingredients.
Vendors are using innovative packaging materials and methods so that the shelf life of a product can be extended and to get consumer attention. Good packaging offers better protection during use. For instance, a recent packaging trend is the use of stand-up pouches. Lightweight materials are used to minimize environmental impact and also easy to open. Moreover, such packaging also makes it easy to ship products to distribution centers across the globe and propel demand for different flavors in dried soups during the forecast period and beyond.
Segmentation by distribution channels and analysis of the dried soup market
- Hypermarkets and supermarkets
- Convenience stores
- Cash and carry stores
Hypermarkets and supermarkets were the biggest distribution segment during 2015, accounting for a market share of 44%. This trend is expected to continue with an expansion of the organized retail sector for groceries, especially in developing countries.
Geographical segmentation and analysis of the dried soup market
Europe is the market leader for sales of dried soups and is expected to generate revenues of over 3 billion by the end of the forecast period. Convenience is the primary growth driver as consumers look for ways to eat at home while making items that require minimal preparation. Additionally, major and private label vendors use targeted advertising campaigns to promote their products and healthy lifestyles.
Competitive landscape and key vendors
The global dried soup market is a dynamic one with many local and international vendors. Competition is very intense, and vendors are working hard to get a larger market share with new products, higher spending on advertising campaigns and innovative packaging. Private brands are gaining ground and are expected to threaten the leadership positions of leading vendors during the forecast period.
Key vendors in this market are –
- Kraft Heinz
Other prominent vendors in this market are Acecook Vietnam, Associated British Foods, B&G Foods, Baxters Food Group, Conad, Frontier Soups, General Mills, Hain Celestial, House Foods Group, Kroger, Nissin Foods, NK Hurst Company, Nongshim, Ottogi Foods, Premier Foods, Savon-K, Subo Foods, Symington’s, and Toyo Suisan.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global dried soup market?
- What are the key market trends impacting the growth of the global dried soup market?
- What are the challenges to market growth?
- Who are the key vendors in the global dried soup market?
- What are the market opportunities and threats faced by the vendors in the global dried soup market?
- Trending factors influencing the market shares of the Americas, APAC, Europe and MEA.
- What are the key outcomes of the five forces analysis of the global dried soup market?
Technavio also offers customization on reports based on specific client requirement.
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Dried soup, also known as powdered soup or soup mix, is a type of soup to which boiling water is added just before consumption. It is available in pouch and cup formats. The growth of this market is driven by consumers who lead busy lifestyles and want to have portion controlled meals. Unilever, Campbell Soup, and Nestle are some of the prominent vendors in this market.
The global dried soup market report is part of Technavio’s food and beverage research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as alcoholic beverages, food, food service, and non-alcoholic beverages. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.