Canned Soups Market Dynamics and Trends by 2027

The canned soups market was valued US$ 4,889.04 million in 2019, it is estimated to grow at a CAGR of 3.8% from 2020 to 2027.

High demand for ready-to-eat food products, rapid shift in consumer food preferences, and increase in health concerns are driving the growth of the canned soup market. Canned soups is a ready-to-eat convenient food product that is easily available in the market. Processing the canned soups is easy and takes less time for the preparation. Canned soup export business has also augmented in recent times owing to the high acceptance power for these products among consumers and brand awareness among the developing economies. Furthermore, the growing working population and increasing preferences for processed food products due to their health benefits boost demand for canned soup products. In addition, shifting of rural population to urban areas in developing countries in Asia Pacific—such as China and India is also projected to increase the demand for various consumer goods, which is also expected to boost the growth of the canned soups market during the forecast period.

In 2019, North America contributed to the largest share in the global canned soups market. Increasing instance of obesity and rising campaigns regarding health awareness in the North America propelled the demand for packaged soup having natural and fresh ingredients. Therefore, the demand for canned soup has also increased and manufacturers are providing different flavors to the consumers. The increase in the variety of products, surge in the consumption of healthy products, and promotion by the key players in the region have increased the demand for canned soup in North America.

The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, the US, Brazil, India, Russia, Spain, and the UK are among the worst affected countries in terms of confirmed cases and reported deaths. The pandemic is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The food & beverage is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. For instance, China is the global manufacturing hub and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is disrupting the global supply chains and hindering the manufacturing activities, delivery schedules, and various materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are hindering the industries, and thus act as restraining factor for the growth of various markets related to this industry.

Canned Soups Market: Strategic Insights

Market Insights

High Shelf Life of Canned Food Products

The shelf life of any canned soup is the amount of time it requires to degrade to the non-palatable state. Shelf life extension ingredients added in the canned soup products slow down the process of food degradation and enable longer storage of the food items. They are both organic and conventional in origin. Shelf life extension ingredients also aid in the keeping food logistics decongested, sustain canned soups in frozen areas, and improve consumer confidence over stability of food items. Consumers have become more aware about their diet. Health benefits such as improved immunity, lower caloric intake, and high protein intake are other factors expected to influence the product demand. Moreover, canned soups with high shelf life also comprise high content of nutrition, minerals, vitamins, and proteins. On a global level, youngsters are preferring to purchase premium goods due to health attributes and are ready to change their habits toward healthier nutrition. Canned soup made from fresh vegetables, and bone and meat has gained tremendous popularity as it offers various health benefits and nutrition as well as it has a high shelf life. In addition, consumers are opting for canned soup products over other protein sources owing to its benefits such as the presence of macro and micronutrient in good proportion with a high concentration of protein. Additionally, packed soups are majorly preferred over soups served in the restaurants and food outlets due to ease of access as well as durability of packages. Drinking canned soups or making a simple soup help add more protein into the diet and prevents one from consuming too many calories. Thus, consumer’s inclination toward nutrition-based canned soup drives the market growth.

Type Insights

Based on type, the global canned soups market is bifurcated into condensed and ready-to-eat. In 2091, the condensed segment led the market. Condensed canned soup products are produced by using a wide variety of seasonings and foods that offer high nutritional value. The consumption of condensed soup offers numerous health benefits as well as it is a concentrated source of protein and calcium, which play a vital role for the building of body. Thus, the market for condensed soup segment is expected to growth significantly during the forecast period.

Distribution Channel Insights

The canned soups market, by distribution channel, is segmented into hypermarkets/supermarkets, convenience stores, online, and others. In 2019, the hypermarkets/supermarkets  segment dominated the market, whereas the market for the online segment is anticipated to grow at the swiftest growth rate during 2020–2027. Hypermarket and supermarket are considered a minor sales channel for the sales of canned soups and the vast array of other products. Canned soups are also placed at an eye-catching assortment on shelves of hypermarkets and supermarkets to attract customers. These stores offer products of different brands in one place with affordable prices than other distribution channels. Also, products of different brands are placed nearby to help buyer select suitable products in less time. Apart from this, factors such as hassle-free transactions, bulk purchasing, better services, and a pleasant customer experience encourage buyers to shop from hypermarkets and supermarkets.

A few key players operating in the canned soup market are Campbell soup company, Amy’s Kitchen Inc, General Mills Inc., The Kraft Heinz Company, Baxters Food Group, Unilever, Struik Foods Europe NV, Vanee Foods Company, BCI Foods Inc., and Hain Celestial Companies. These companies provide a wide range of product portfolio for canned soups market. They also have their presence in the developing regions, which provides lucrative opportunities for the growth of the canned soup market.

The regional trends and factors influencing the Canned Soups Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Canned Soups Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Canned Soups Market Report Scope

Canned Soups Market Players Density: Understanding Its Impact on Business Dynamics

The Canned Soups Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Report Spotlights 

• Progressive industry trends in the global canned soups market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the market from 2017 to 2027
• Estimation of the demand for canned soups across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and the demand for canned soups
• Market trends and outlook coupled with factors driving and restraining the growth of the canned soups market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the growth of the global canned soups market

• Canned soups market size at various nodes of market
• Detailed overview and segmentation of the global canned soups market as well as its dynamics in the industry
• Canned soups market size in various regions with promising growth opportunities

Canned Soups Market, by Type

• Condensed
• Ready-to-Eat

Canned Soups Market, by Category

• Vegetarian
• Non-Vegetarian

Canned Soups Market, by Processing

• Regular Soup
• Organic Soup

Canned Soups Market, by Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Online
• Others

Company Profiles

• Campbell Soup Company
• Amy’s Kitchen Inc
• General Mills Inc.
• The Kraft Heinz Company
• Baxters Food Group
• Unilever
• Struik Foods Europe NV
• Vanee Foods Company
• BCI Foods Inc.
• Hain Celestial