The dried soup market is predicted to develop at an impressive 7.9% CAGR from 2023 to 2033, preceding the lower 1.4% CAGR witnessed between 2018 and 2022. This significant rise shows the rise in demand for the dried soup market, increasing the market value from US$ 2.1 billion in 2023 to US$ 4.5 billion by 2033.
The desire for convenient eating options and the fast-paced lifestyle have increased demand for ready-to-eat foods globally. The development of value-added, gluten-free, organic dry soups, increased accessibility through various retail channels, innovative packaging, and marketing campaigns are all contributing to the demand for dried soup.
Dried soups are a favourite among the working class due to their simplicity and nutritional advantages. The market is predicted to grow as a result of rising disposable income, increasing demand for ready meals, and the addition of healthy ingredients. Concerns about preservatives limit growth, although opportunities are provided by organic soups and other product improvements.
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The market for dried soup is expanding due to rising demand for quick meals and healthy eating practices. Growth is being fueled by gluten-free and organic choices, although concerns about the high levels of maize and salt may deter customers.
Key Takeaways
- The market for dry soup in India is anticipated to expand significantly due to the nation’s predicted 7.6% CAGR by 2033.
- The market for dry soup in the United Kingdom is anticipated to continue growing steadily, with a 6% CAGR predicted by 2033.
- China’s predicted 6.7% CAGR by 2033, the dried soup industry in China is expected to flourish.
- The dried soup market in Australia is anticipated to grow moderately, with a CAGR of 1.2% by 2033.
- The market for dry soup in Japan is anticipated to expand gradually because of the country’s predicted 4.7% CAGR by 2033.
Competitive Landscape
A wide variety of competitors, including global corporations, local businesses, and specialized producers, characterize the dried soup market. The market is dominated by major international companies like Nestlé, Unilever, Campbell Soup Company, and Knorr, thanks to their broad product lines and well-known brands.
Regional players are essential in the dry soup industry as well, particularly in their home regions. By providing regional specialties and traditional flavors, these players concentrate on appealing to local preferences and tastes. To achieve greater market penetration, they frequently form strong ties with regional distributors and merchants.
Additional variables that affect the competitive environment include price tactics, product quality, innovative packaging, and promotional activities. To remain competitive in the market, businesses always work to offer new flavors, refine product compositions, and improve packaging designs.
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Dried Soup Market by Category
By Product, the Dried Soup Market is Segmented as:
- Dehydrated Dried Soups
- Instant Dried Soups
By Packaging, Dried Soup Market is Segmented as:
- Pouches
- Cups
- Boxes
By Sales Channel, Dried Soup Market is Segmented as:
- HORECA
- Modern Trade
- Convenience Stores
- Online Stores
- Others
By Region, Dried Soup Market is Segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Recent Developments
- In introducing new flavors and product variants, Knorr has concentrated on adapting to changing consumer tastes. They have created a selection of dried soups to accommodate various nutritional needs, including vegetarian, vegan, and gluten-free alternatives. With the aid of this tactic, Knorr has been able to expand its customer base and satisfy the rising demand for specialty food items.
- Knorr has focused on altering its products to accommodate shifting consumer preferences by producing new flavors and product variations. To meet different dietary requirements, they have developed a variety of dried soups, including gluten-free, vegetarian, and vegan options. This strategy has allowed Knorr to increase its consumer base and meet the growing demand for gourmet foods.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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