Download Sample, Rising Preference for Vegan Food Products is Influencing the Market Growth
The global plant-based food market is experiencing significant growth, largely driven by the increasing trend of veganism as well as the rising consumption of plant-based products. This surge in demand for plant-based alternatives is attributed to various factors, including a growing population of individuals adopting vegan lifestyles, as well as a heightened concern for animal welfare. As a result, the demand for ready-to-eat vegan soups has also increased recently. Many customers are shifting to a plant-based diet due to the health risks of consuming animal products, as well as the ethical and environmental ramifications of animal agriculture.
As a result of the growing number of vegans, numerous prominent firms in the packaged soup market are adding plant-based packaged soup to their product portfolios and introducing it to the market. Furthermore, the increasing incidence of diverse cardiovascular diseases globally is expected to have a favorable impact on the sales of plant-based foods in the foreseeable future. Moreover, the growing accessibility of the internet and widespread adoption of social media platforms are playing a crucial role in raising awareness among individuals regarding the numerous advantages associated with the consumption of plant-based products. This factor creates lucrative business opportunities for the ready-to-eat soup market development.
As a result of the growing number of vegans, numerous prominent firms in the packaged soup market are adding plant-based packaged soup to their product portfolios and introducing it to the market. Furthermore, the increasing incidence of diverse cardiovascular diseases globally is expected to have a favorable impact on the sales of plant-based foods in the foreseeable future. Moreover, the growing accessibility of the internet and widespread adoption of social media platforms are playing a crucial role in raising awareness among individuals regarding the numerous advantages associated with the consumption of plant-based products. This factor creates lucrative business opportunities for the ready-to-eat soup market development.
Rapid Urbanisation and Rising Demand for Convenient Foods is Boosting the Market Expansion
The ready-to-eat soup market is primarily driven by the increasing demand for convenient, healthy, and instant foods. It has also benefitted from factors such as improving consumer lifestyles, rapid urbanization, and the ease of accessing soups from multiple sales channels. The ready-to-eat soup market is accelerating due to the increasing number of quick-service restaurants and the shift from traditional homemade soup to ready-to-eat canned soup. Manufacturers are introducing new products to meet nutritional requirements and taste preferences, and the combination of advances in food and packaging technology and the introduction of regional-flavored organic canned soups is expected to increase the sales of ready-to-eat soup during the forecast period. Long-shelf-life ingredients also aid with food logistics, keeping packaged soups in frozen regions, and increasing confidence in food stability. Packaged soups with a long shelf life are rich in nutrients, minerals, vitamins, and protein, making them preferred over soups served in restaurants. The increase in demand can also be linked to the growing number of working women around the world and their increasing need for quick and time-saving meal options.
Recent Trends in the Ready to Eat Soup Industry
- Plant-based options are on the rise for health-conscious consumers.
- Increased demand for convenient, single-serve packaging for on-the-go consumption.
- Incorporation of superfoods for added nutrition and wellness benefits.
- Ethnic flavours gaining popularity for diverse culinary experiences.
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New Product Launches are Stimulating the Ready-to-Eat Soup Market Development
Major market participants are focusing on research and development in order to create novel products that will meet customer demand and in turn enhance their product portfolio. They are also employing various market strategies such as new product launches, mergers, and acquisitions in order to gain a competitive advantage in the market. For instance, in July 2022, Upton's Naturals expanded its range of healthy and tasty vegan soups with three additional varieties of ready-to-heat-and-eat soups. The new products are Non-GMO Certified (NSF) and plant-based Certified, include no added colors, flavors, or preservatives, and are fully free of cholesterol and trans-fat. They provide plant-based protein (8-11g per serving) and just 180-300 calories per bowl.
Earlier, in August 2021, Tideford Organics, the exclusive organic, plant-based, vegan, gluten-free, and nut-free food company in the United Kingdom, is making substantial investments to revitalize its brand image. This included an updated look as well as an expanded range of products. The company is introducing innovative new recipes, enhancing the existing ones, and maintaining the popularity of their current best-selling soups, vegetable pots, and cooks' ingredients. In addition, Soupologie, the UK's best superfood, vegan, and free-from soup brand announced the launching of three new Vitamin D soups in March 2021. The new line comprises fresh plant-based soups supplemented with a vegan source of Vitamin D3 that deliver at least 50% of the necessary daily consumption in one 300g serving.
Earlier, in August 2021, Tideford Organics, the exclusive organic, plant-based, vegan, gluten-free, and nut-free food company in the United Kingdom, is making substantial investments to revitalize its brand image. This included an updated look as well as an expanded range of products. The company is introducing innovative new recipes, enhancing the existing ones, and maintaining the popularity of their current best-selling soups, vegetable pots, and cooks' ingredients. In addition, Soupologie, the UK's best superfood, vegan, and free-from soup brand announced the launching of three new Vitamin D soups in March 2021. The new line comprises fresh plant-based soups supplemented with a vegan source of Vitamin D3 that deliver at least 50% of the necessary daily consumption in one 300g serving.
Rising Health Concerns and Government Regulations are Acting as Restraints for the Ready-to-Eat Soup Market Growth
Given the associated effects of cost-push and demand-pull inflation, the global ready-to-eat soup market research projects a high rate of inflation. In the ready-to-eat soup market, consumer preferences have shifted towards flavours rather than individual components. This trend has led manufacturers to expand their product lines in order to meet the demand. As a result, corn starch has emerged as a crucial ingredient used by these manufacturers. This shift in consumer behaviour has prompted soup producers to incorporate corn starch into their products to enhance flavour and texture. However, consuming large amounts of corn starch raises blood sugar levels, which can have harmful effects on health that diet-conscious consumers are beginning to recognize.
In addition, the expansion of the packaged soup business is anticipated to be hampered by rising consumer awareness of the negative effects of chemical preservatives. Additionally, the health advantages of natural soups outweigh those of ready-to-eat soup. It is anticipated that nutrients cannot be processed or kept in storage for as long, which will impede the expansion of the packaged soup market. Furthermore, government regulations regarding the consumption of such products is also anticipated to be a restraint for the market growth. For instance, a public health alert had been issued by the Food Safety and Inspection Service (FSIS) of the U.S. Department of Agriculture in April 2023 due to worries that ready-to-eat meat soup items may have been made, packed, or stored in unsanitary conditions, which could lead to early spoiling of the product. Such campaigns have negatively impacted the ready-to-eat soup market.
The Campbell Soup Company, Nestlé S.A, Ottogi Co., Baxter Food Group Limited, General Mills Inc, Conagra Brands, Inc. Premier Foods Group Limited, Hindustan Unilever Limited, Associated British Foods plc, and The Kraft Heinz Company are some of the prominent market players operating in the global ready-to-eat soup market.
In addition, the expansion of the packaged soup business is anticipated to be hampered by rising consumer awareness of the negative effects of chemical preservatives. Additionally, the health advantages of natural soups outweigh those of ready-to-eat soup. It is anticipated that nutrients cannot be processed or kept in storage for as long, which will impede the expansion of the packaged soup market. Furthermore, government regulations regarding the consumption of such products is also anticipated to be a restraint for the market growth. For instance, a public health alert had been issued by the Food Safety and Inspection Service (FSIS) of the U.S. Department of Agriculture in April 2023 due to worries that ready-to-eat meat soup items may have been made, packed, or stored in unsanitary conditions, which could lead to early spoiling of the product. Such campaigns have negatively impacted the ready-to-eat soup market.
The Campbell Soup Company, Nestlé S.A, Ottogi Co., Baxter Food Group Limited, General Mills Inc, Conagra Brands, Inc. Premier Foods Group Limited, Hindustan Unilever Limited, Associated British Foods plc, and The Kraft Heinz Company are some of the prominent market players operating in the global ready-to-eat soup market.
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Technological Advancements and Changing Consumer Preferences are Accelerating the Market Development
North America is anticipated to witness significant growth in the ready-to-eat soup market during the forecast period. With its fast-paced technological advancements, hectic lifestyles, and high disposable income, North America dominates the market for ready-to-eat soup. On the other hand, Asia Pacific is also expected to experience significant growth in the ready-to-eat soup market owing to the region's growing urbanization, shifting demographics, and shifting eating patterns of its consumers. Furthermore, Europe's market share of ready-to-eat soup is anticipated to be substantial during the forecast period. This can be attributed to the rising preference of people in the region for ready-to-eat products since they are more convenient and take less time to prepare. Demand for ready-to-eat soups with fresh, natural ingredients and little preservative content. The market for packaged soup has expanded as a result of rising packaged soup consumption, allowing manufacturers to add new flavors and health benefits to their product line-up. The well-established soup industry in Europe has made the region a potential ready-to-eat soup market for international soup manufacturers to grow their businesses using a range of packaging technologies.
The report provides a detailed overview of the ready-to-eat soup market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, the Middle East, and Africa. The country-specific assessment for the ready-to-eat soup market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the vegan cookies market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which is anticipated to have a substantial impact on the growth of the vegan cookies market. Some key countries and regions included in the ready-to-eat soup market report are as follows:
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Central America Countries, Caribbean Countries, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Philippines, Vietnam, Thailand, Bangladesh, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Ethiopia, Algeria, Israel, Iran, Iraq, Kenya, Rest of MEA |
Ready to Eat Soup Market Research Report Covers In-depth Analysis on:
- Ready to eat soup market detailed segments and segment-wise market breakdown
- Ready to eat soup market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in ready to eat soup industry)
- Current, historical, and forthcoming 10 years market valuation in terms of ready to eat soup market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Ready to eat soup market demand analysis
- Ready to eat soup market pricing analysis over the forecast period (by key segment and by region)
- Ready to eat soup market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in ready to eat soup market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in ready to eat soup market
- Ready to eat soup market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on ready to eat soup market forecast by countries
- Mergers and acquisitions in ready to eat soup market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key factors driving the growth of the ready to eat soup market?
The growing trend of on-the-go meals, increasing awareness of convenience food, and the rise of plant-based and organic food options are major factors driving market growth.
Which regions are seeing the highest demand for ready to eat soups?
North America, Europe, and parts of Asia-Pacific have witnessed high demand due to busy lifestyles, increased preference for convenience foods, and improved distribution channels in these regions.
What are the future growth prospects for the ready to eat soup market?
The future looks promising as ready-to-eat soups cater to modern consumer needs. Innovation in flavor, ingredients, and packaging will continue to drive market expansion, especially among health-conscious and time-sensitive consumers.
