Published on : Jan 21, 2016
Soup is an important part of the staple food for many. A soup is often treated as a starter to a full meal, but in several cases it can be a meal by itself. In times when lifestyles are governed by a hectic pace with no time to proper meals, the global soup market has been offering a convenient solution to many. The global soups market is also flourishing due to growing preference for refrigerated food, promotion of soups as healthy and for the diet-conscious, and influx of a wide range of soup flavors. The soup market includes various product types such as dried canned, frozen, UHT, and chilled.
In the recent years, the share of dried soups in the overall market has grown considerably due to their convenience. These soups, also known as powdered soups, are packed in small sachets that require addition of warm water prior to consumption. The dried soup has maximum penetration in India. On the other hand, the popularity of canned soups is dropping due to the heavy amount of processing that goes on to make these soups. Several soup manufacturers are trying to introduce new flavors and a huge variety of soups to allow the consumers to enjoy a unique dining experience that does not require a time-consuming effort.
In the coming years, Asia Pacific is expected to witness a good CAGR due to improving per capita income, changing food patterns, and busy lifestyles. This region has also become an important market for several international brands due to its huge potential. Expanding the distribution channels and working on product innovation will help the manufacturers grab a bigger share of the market in the near future. Some of the important companies in the soup market are Campbell Soup, ConAgra Foods, Nestle, HJ Heinz, and Unilever Group. The biggest challenges for the soup market is the economic instability, harmful effects of preservatives used in the soups, and emergence of organic food trends. However, new product launches will offer the consumers to look forward to better products in the near future.