Market Size –
The dried soup market size has grown strongly in recent years. It will grow from $2.91 billion in 2023 to $3.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to convenience and ease of preparation, consumers’ high awareness of health and wellness, the introduction of a wide range of flavors and varieties, the rise of e-commerce platforms, increased the demand for non-perishable, easy-to-store food products.
The dried soup market size is expected to see strong growth in the next few years. It will grow to $4.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to sustainability and eco-friendly packaging, technological advancements in food processing, increasing health consciousness, increasing health consciousness, expansion into emerging markets, and increased marketing and promotional efforts. Major trends in the forecast period include increased demand for organic ingredients, innovations in packaging for convenience, rising popularity of global flavors, expansion in online sales, focus on health and wellness benefits, and increased consumer preference for clean-label products.
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Scope Of Dried Soup Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Dried Soup Market Overview
Market Drivers –
The growing demand for convenience and ready-to-eat food products is expected to propel the growth of the dried soup market going forward. Convenience and ready-to-eat foods are pre-prepared meals or snacks that offer quick and easy consumption and require minimal or no cooking. The rise in demand for convenience and ready-to-eat foods reflects a societal preference for quick and easy meal solutions due to changing lifestyles and increased urbanization. Dried soup is a convenient and ready-to-eat food product that requires only the addition of hot water or broth for quick and easy consumption. For instance, in October 2023, according to Agriculture and Agri-Food Canada (AAFC), a Canada-based government department for agriculture and food-related products, exports of processed food and beverage products reached an all-time high of $54.3 billion in 2022, marking a 14.1% increase compared to 2021. These exports represented 34.7% of the total production value. Therefore, the growing demand for convenience and ready-to-eat food products will drive the dried soup market.
Market Trends –
Major companies operating in the dried soup market are adopting innovative products, such as dried vegetable soups, to enhance market growth and diversification. Dried vegetable soups are ready-to-eat soup products that contain dehydrated vegetables as their main ingredients. For instance, in July 2022, Maya Kaimal Foods LLC, a US-based food and beverage manufacturing company, launched spiced lentil, creamy spiced butternut, tomato and warm spices, and creamy chickpea, a range of vegan dried soups in four different flavors. These dried soup products are made up of plant-based products and are available in ready-to-use format.
The dried soup market covered in this report is segmented –
1) By Product: Dehydrated Dried Soups, Instant Dried Soups
2) By Packaging: Pouches, Cups, Boxes
3) By Distribution Channel: Supermarket Or Hypermarket, Convenience Stores, Grocery Stores, Online Retail Stores, Other Distribution Channels
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Regional Insights –
North America was the largest region in the dried soup market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dried soup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the dried soup market are The Kroger Co, Nestlé S.A., Unilever PLC, H. J. Heinz Company, General Mills Inc., Trader Joe’s Company Inc., Campbell Soup Co., McCormick & Company, Nissin Food Products Co. Ltd., Del Monte Foods Inc., Bob’s Red Mill Natural Foods Inc., Maruchan Inc., Tabatchnick Fine Foods Inc., Harvest Right LLC, Dr. McDougall’s Right Foods Inc., Mother Earth Products, Cooke Tavern Ltd., Bear Creek Country Kitchens LLC, Brodo Company, Harmony House Foods Inc., Anderson House Foods
Table of Contents
1. Executive Summary
2. Dried Soup Market Characteristics
3. Dried Soup Market Trends And Strategies
4. Dried Soup Market – Macro Economic Scenario
5. Global Dried Soup Market Size and Growth
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31. Dried Soup Market Other Major And Innovative Companies
32. Global Dried Soup Market Competitive Benchmarking
33. Global Dried Soup Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Dried Soup Market
35. Dried Soup Market Future Outlook and Potential Analysis
36.Appendix
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