NEWARK, Del, Sept. 20, 2022 (GLOBE NEWSWIRE) -- The dried soup market is set to witness growth at a CAGR of 3.2% and is anticipated to reach a valuation of around USD 2.7 Bn by 2032.
Growing demand for ready-to-eat foods is expected to be a major driver of the growth of the dried soup market. Increasing consumer awareness of consuming healthy and nutritious foods is expected to boost the growth of the global dried soup market.
Dried soups are superior to other types of soups, such as canned soups and moist concentrated soups, so they hold a large share in terms of consumption in the soup industry. Dried soups with gluten-free and organic ingredients Soup availability is expected to boost the growth of the dried soup market.
The high corn and salt content in dry soup mix raises blood sugar and blood pressure, is said to be unhealthy, and may hamper the growth of the global dried soup market.
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These ready-to-eat soups are especially popular among the working class as a quick and nutritious meal option. Soups that are dried have a longer shelf life and retain their nutritious value. Dried soups are available in cups and pouches at grocery stores and come in a range of flavors.
The dried soup market is likely to grow throughout the forecast period, owing to factors such as rising disposable income and increased customer demand for ready meals. Dry soups are being propelled forward by the addition of nutritious dietary items such as vegetables and lean meat, as well as individualized additives.
Concerns about the safety of specific preservatives used in the mix are preventing the dry soup mix industry from expanding. Nonetheless, the launch of organic soups, as well as product and packaging improvements, is expected to create attractive chances for the main players in the dried soup market over the forecast period.
Key Takeaways from Market Study
- The dried soup market sector in the United States is estimated to grow fast over the forecast period due to changing customer desires for convenience foods.
- Manufacturers are encouraging 16- to 24-year-olds to eat dry soup mix more frequently as a snack at home which is increasing the global adoption of dried soup.
- The demand for dehydrated dry soups is significantly greater than that for fast dried soups. Sales of dehydrated dry soup currently account for more than a third of the global dried soup market.
- Dried soup market players are using unique and eye-catching pouch packing solutions that are both practical and efficient.
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“With an increasing working-age population and hectic lifestyles, there is little time to prepare a nutritious and balanced meal. As a result, there has been a significant increase in demand for ready-to-eat foods all across the world. These foods satisfy consumers' nutritional needs as well as a wide range of preferences. Furthermore, the introduction of high-value gluten-free and organically dried soup types is expected to stimulate demand.” says a Future Market Insights analyst.
Competitive Landscape
Several companies are prioritizing product approvals, product launches, and other organic growth techniques such as patents and activities. Two business expansion strategies that were noticed in the dried soup market were acquisition and partnerships & partnerships.
These measures have cleared the way for market participants to expand their client base and revenue. Market players in the dried soup market are likely to benefit from favorable growth opportunities in the future, owing to rising demand for dried soup in the global sector.
Recent Developments
- In February 2020, Knorr launched 3 different flavored vegan soups in the UK. These products were part of the company's "Cheat on Meat" campaign.
- In October 2019, Amy's Kitchen launched a new line of soup products in a new packaging format to appeal to a wider audience. At the same time, the company is opening a new facility in New York to increase its sustainable production capacity.
Key Players:
- Unilever Canada Inc. (Knorr)
- Harmony House Foods, Inc.
- J. Heinz Company, L.P.
- McKenzie's
- Mother Earth Products
- Cooke Tavern Soups
- Frontier Soups
- CAMPBELL COMPANY OF CANADA
- Bear Creek Country Kitchens, LLC
- John A. McDougall, M.D.
- Harvest Right LLC
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the Dried Soup Market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on Product (Dehydrated Dried Soups, Instant Dried Soups) Packaging (Pouches, Cups, Boxes) Sales Channel (HORECA, Modern Trade, Convenience Stores, Online Stores, Others), across seven major regions of the world.
About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Product launches & Recent Developments
3.4. Product Life Cycle Analysis
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