The global frozen soup market is expected to grow from US$ 11.2 billion in 2022 to US$ 13.6 billion by 2028, at a CAGR of 3.2% during the forecast period. The market growth is attributed to the increasing demand for convenient and nutritious food options, the growing popularity of ethnic cuisines, and the rising disposable incomes of consumers.
This growth is attributed to a number of factors, including the rising demand for convenient and healthy food options, the increasing number of working women, and the growing awareness of the health benefits of soup.
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Frozen soup is a convenient and easy-to-prepare food option that is suitable for busy individuals and families. It is also a nutritious and healthy meal, as it is typically low in calories and fat and high in fiber and vitamins.
Key trends in the frozen soup market:
- Growing demand for convenient and healthy food options: Consumers are increasingly looking for convenient and healthy food options, especially in the wake of the COVID-19 pandemic. Frozen soup is a convenient and healthy food option that can be easily prepared and consumed.
- Growing popularity of frozen meals: Frozen meals are becoming increasingly popular among consumers due to their convenience and affordability. Frozen soups are a popular component of frozen meals, and the growing popularity of frozen meals is expected to drive the growth of the frozen soup market.
- Rising disposable incomes of consumers: Rising disposable incomes of consumers are also driving the growth of the frozen soup market. Consumers with higher disposable incomes are more likely to spend on convenience foods and other premium food products.
Key regional markets:
- North America: The North American region is the largest market for frozen soup, accounting for over 35% of the global market share in 2022. The growth of the frozen soup market in North America is attributed to the growing demand for convenient and healthy food options, the growing popularity of frozen meals, and the rising disposable incomes of consumers.
- Europe: The European region is the second largest market for frozen soup, accounting for over 25% of the global market share in 2022. The growth of the frozen soup market in Europe is attributed to the growing demand for convenient and healthy food options, the growing popularity of frozen meals, and the rising disposable incomes of consumers.
- Asia Pacific: The Asia Pacific region is the fastest growing market for frozen soup, accounting for over 20% of the global market share in 2022. The growth of the frozen soup market in the Asia Pacific region is attributed to the growing demand for convenient and healthy food options, the growing popularity of frozen meals, and the rising disposable incomes of consumers.
Key Players in the Frozen Soup Market:
The global frozen soup market is dominated by a few key players, including:
- Campbell Soup Company
- Conagra Brands Inc.
- General Mills Inc.
- Nestlé S.A.
- The Kraft Heinz Company
- Unilever plc.
Segmentation: Frozen Soup Market:
Type:
- Cream-based
- Broth-based
- Chunky
- Smooth
Flavor:
- Chicken
- Beef
- Vegetable
- Tomato
- Other
Distribution channel:
- Retail
- Foodservice
Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
