Analysis of Frozen Soup market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global demand for frozen soup has increased in recent years. According to the study, the market reached US$ 107.2 Mn by 2020. The overall frozen soup market is expected to reach US$ 212.9 Mn by 2031, growing at a CAGR of 6.5% for 2021-2031.
|Market Size Value in 2020||US$ 107.2 Mn|
|Market Size Value in 2021||US$ 113.42 Mn|
|Projected Market Forecast Value by 2031||US$ 212.9 Mn|
|Global Growth Rate (2021 to 2031)||6.5% CAGR|
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According to Fact.MR, market research and competitive intelligence provider, from 2016 to 2020, the global market for frozen soup has grown at a CAGR of almost 5%. By incorporating organic and fresh ingredients into their frozen soups, consumers will always have a high-quality, ready-to-heat soup on hand, which will make the process of assembling and preparing a dish simpler for homes and also reduce costs.
As the COVID-19 pandemic continues to prevail, consumers worldwide have increased their consumption of ready-to-eat foods, prompting increased sales of frozen soup products. As several countries look towards tightening lockdown restrictions once again, in the wake of the new omicron virus strain, it is apprehended that commercial outdoor restaurants will curtail their operations. This may compel consumers to rely more on home delivery options.
Recently, there has been much attention paid to the integration of fresh herbs and vegetables into the soup. Additionally, thawing and reheating methods have been widely used to ensure that nutrients remain intact. Hence the market is likely to surge at a CAGR of 6.5% from 2021-2031.
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Increasing consumer demand for fresh and tasty foods with real ingredients has increased the market demand for frozen soups. The rising demand for ready-to-cook and on-the-go convenience foods is driving the demand for soup across the market. Although frozen soup represents just 34 million dollars in sales, it has seen extraordinary growth over the last few years.
Additionally, as society becomes increasingly health-conscious, there is a tendency for individuals to consume foods that they consider to be healthy, such as soups and broths. Changing lifestyles of consumers around the world have helped to raise the demand for frozen soup in the global market. The simple preparation of these soups is considered to be one of the major factors behind their global popularity in the market. As consumption habits change around the world, frozen soup demand on the global market increases.
The growing demand for out-of-season food is also said to be contributing to the growth of frozen soup in global markets. Growing trends towards preserving seasonal foods and having healthy diet snacks are promoting frozen soups at potlucks and restaurants on a large scale. Therefore, these soups have gained great support from consumers all over the world.
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A study conducted at Iowa State University revealed soup eaters scored higher on life quality, compared to those who didn't. Researchers focused on cooking methods that would deliver more nutritional value to soups to prevent them from losing their nutritional value to the atmosphere. Additionally, the studies focused on how soup could be healthy, light, and be consumed in colder climates.
Various studies have been conducted on the process of packing, preparing, and drying vegetables and meat in the soup. A study conducted in the United States found that soup consumption was associated with an overall reduction in body weight among adults. According to the researchers, it appears soup consumption might provide some benefits for weight management.
Although soup diets pose no common health risks, experts agree that they would take away otherwise healthy food groups and cause nutrient deficiency and imbalance. Some research indicates that restricting certain foods may also result in a poor relationship with food. Many researchers have focused on different ingredients and how they contribute to the benefit of the soup. Researchers also tried to figure out whether or not certain ingredients should be refrigerated. Research studies have been conducted on the shelf life of soups and how they can be reheated without losing the nutrients in the soup.
China is likely to emerge as a highly opportunistic market for frozen soup. Growing amounts of soup dumpling demand in these regions has led to a rise in frozen soup demand. The East Asian giant will likely generate around 20% of global frozen soup demand.
Restaurants have a difficult time delivering frozen soups to customers. An innovative restaurant cracked the code of delivering frozen soups to customers' doors to provide fresh and freezing soups at home. Xiao Chi, a Seattle-based soup dumpling restaurant, cracked the code to freeze the delicate soup dumplings right through trials, errors, and constant customer feedback. In addition to being a freezer staple, dumplings are now a popular pandemic trend, revered for their easy transformation from ice blocks to near-restaurant quality comfort food, and their ease of preparation.
Wang and his three co-founders improved each aspect of their frozen XLB process as their small restaurant filled mounting orders after Xiao Chi Jie's frozen XLB went viral on WeChat, a Chinese social media app. In addition to distributing XLBs in paper bags, they learned the tricks of manufacturing and shipping along the way and changed their delivery method to fly branded packages across the country.
As consumers lead increasingly fast-paced lifestyles, demand for on-demand instant food products is increasing substantially across the U.S. This is providing major traction to frozen soup consumption in various formats. Due to the high levels of sodium and preservatives found in canned soups, consumers prefer to buy soups that are either refrigerated or frozen.
Additionally, frozen soup consumption is inclining due to shifting dietary preferences towards more health boosting foods. According to data published by the U.S Centers for Disease Control & Prevention, total obesity prevalence was 42.4% from 2017-2018. This was largely an end product of excessive intake of unhealthy and overly processed foods, combined with physical inactivity.
Growing sales of soup varieties in the market have presented opportunities for new players who may want to enter these markets. Increasing demand for RTE food in these regions has become one of the highest demands for frozen soups on the market. Increasing demand for vegan diets and vegan products has increased the demand for vegan soups in the market. The region is likely to account for 45% of demand across North America.
According to Fact.MR, the market for frozen soup is anticipated to register substantial growth, accumulating a revenue share of 30% across the 2021-2031 forecast period. Growing inclination towards consuming health boosting foods is majorly driving market growth.
The promotional activities and campaigns of the different frozen soup brands are also another major reason behind the growth in the market. The promotional activities taken by various companies are attracting the attention of consumers to a great extent, and as a result, consumers are getting more inclined towards buying frozen soups.
With the growing demand for healthy and nutritional soups by diabetic patients, the frozen soup market has experienced a boom in sales. Due to their long shelf life and no added preservatives, there has been an increased demand for frozen soups in the market. In response to the growing demand for gluten-free products and dietary products, the demand for frozen soups has also increased.
The growing demand for a healthy lifestyle is one of the major reasons behind the rapid growth of vegetarian classics in the global frozen soup market. The vegetarian classics include high nutrient values to food along with a perfect amount of vitamins and minerals. Therefore, consumers are getting more inclined towards vegetarian classics.
In recent years, soup brands have introduced products that use ingredients and flavors inspired by a variety of international cuisines, such as Indian, Latin, African, and Middle Eastern cuisines. According to Fact.MR, the segment is anticipated to register a CAGR of 5.5% throughout the forecast period ranging from 2021-2031.
By distribution channel, Fact.MR anticipates the wholesale segment to generate bulk of all frozen soup industry revenue across the 2021-2031 forecast period. A market share exceeding 40% is projected for wholesale distribution. Rising demand from commercial food sectors is broadening prospects for wholesale frozen soup distributors.
While outdoor restaurant dining has significantly reduced, thanks to the COVID-19 pandemic, demand across commercial foodservice providers will remain elevated. This largely due to the increased reliance on online home delivery oriented foodservice applications. Hence, food processing companies and restaurants are demanding higher quantities of frozen soup mixes, instant soup packets and refrigerated soup containers.
Manufacturers and distributors can increase revenue and market share through strategic collaborations. In the near future, new products and technologies will empower end-users to enjoy the benefits of organic products. The result of a strategic collaboration can help an organization to increase its production.
|Historical Data Available for||2016-2020|
|Market Analysis||US$ Million for Value and Units for Volume|
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
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As of 2020, the frozen soup market was valued at US$ 107.2 Mn, according to Fact.MR
According to Fact.MR, the market for frozen soup is expected to reach US$ 212.9 Mn by the end of the 2021-2031 forecast period
From 2016 to 2020, frozen soup demand surged at a CAGR of around 5%
Until 2031, frozen soup sales are likely to expand at a CAGR of 6.5%
According to Fact.MR, China is expected to account for 1/5th of global demand for frozen soup
Around 45% of frozen soup sales are expected to occur across the U.S market until 2031
In the U.K, frozen soup sales are anticipated to garner a revenue share worth 30%
Demand for vegetarian classic frozen soups are poised to remain elevated, clocking a CAGR of 5.5%
Frozen soup sales are expected to be maximum across the wholesale sector, capturing 40% market share
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