The ‘Global Frozen Soup Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global frozen soup market, assessing the market on the basis of its segments like products, packaging, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Frozen Soup Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3.0%
A major factor driving the global frozen soup market is increasing health consciousness and the growing preference for a nutritional diet. This has led manufacturers to incorporate ingredients like whole grains and legumes into frozen soups and reduce the usage of artificial preservatives. Moreover, there is an increasing focus on the production of organic soup which contains ingredients free of any chemical residue or harmful substances. The growing demand for ingredient transparency and the rising preference for clean-labelled products are also pushing market players to add healthier ingredients to frozen soups.
Vegetarian soups are likely to represent a substantial frozen soup market share amid the rising demand for natural and plant-based food products. The increasing awareness regarding animal welfare and the rising number of vegetarian and vegan populations are driving the launch of soups containing various vegetables. Moreover, the incorporation of grains, legumes, and vegetables enhances the nutritional profile of vegetarian frozen soups.
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The expansion of supermarkets, hypermarkets, and convenience stores is a major factor driving the global frozen soup market demand. Various retail stores are also offering the facility of soup sampling, which attracts a large customer base. Besides, online stores are increasingly gaining popularity as they offer diverse food products to customers at the convenience of their homes. They also offer attractive discounts, driving the overall sales of frozen and canned food, including frozen soup.
Another crucial factor that positively affects the global frozen soup market is a rise in disposable incomes, which facilitates the demand for premium or gourmet frozen soups. Brands are increasingly incorporating high-quality ingredients into soups while reducing the usage of any preservatives that can be harmful. As consumers are more willing to experiment with different flavours of the product, the market demand is likely to grow in the forecast period.
Frozen Soup Industry Definition and Major Segments
Frozen soup is a type of soup that is cooked and then stored at a low temperature to preserve its nutritional value, taste, and quality. These soups are stored in solid forms to ensure their convenient usage and extend their shelf stability.
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On the basis of product, the market is classified into:
• Vegetarian
• Non-Vegetarian
Based on packaging, the market is segmented into:
• Pouches
• Freezer Bags
• Cans
• Others
On the basis of distribution channel, the market is categorised into:
• Retail Stores
• Online
Based on region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Frozen Soup Market Trends
A key trend propelling the growth of the global frozen soup market is increasing demand for ready-to-eat products due to the busy lifestyle of the working population. As it is quite difficult to prepare food from the scratch for the working demographic, sales of frozen food products, including frozen soup, is growing. Frozen soup is an attractive alternative to fresh food as it only requires the addition of water or broth to provide the taste and goodness of homemade soup. The rapid urbanisation has also led to an increase in the number of people living in urban cities, which drives the overall demand for ready-to-eat food, including frozen soup.
Key market players are introducing innovative flavours to attract new customers. They are also launching new flavours to enhance customer loyalty and expand their product portfolio. Moreover, the development of new flavours of the product with excellent nutrition and flavour profile is anticipated to aid the global frozen soup market in the coming years. Consumption of frozen soup also reduces overall food wastage as home-cooked soups tend to spoil with time.
North America accounts for a substantial share of the global frozen soup market owing to the increased popularity of ready-to-eat meals. People lead a busy lifestyle in the urban cities, which gives them little time for cooking, hence driving the sales of frozen and canned food. The increasing awareness regarding the health benefits of soups and their excellent nutritional profile also aids the market. Moreover, the presence of key players in the region is driving the introduction of new flavours of frozen soup that meet the evolving demand of a diverse population.
Key Market Players
The major players in the global frozen soup report are
• Campbell Soup Company
• The Kraft Heinz Company
• Conagra Brands Inc
• Phillips Foods, Inc.
• Blount Fine Foods
• Tabatchnick Fine Foods, Inc.
• KETTLE CUISINE, LLC
• Nestlé S.A.
• Plenus Group, Inc. (Boston Chowda)
• Dr. McDougall’s Right Foods
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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