Dried Soup Market Report 2024: Market Insights And Future Outlook

The Business Research Company's Dried Soup Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 22, 2024 /EINPresswire.com/ -- The global dried soup market has demonstrated significant growth, with its size increasing from $2.91 billion in 2023 to $3.12 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.4%. Despite challenges, such as supply chain disruptions and economic fluctuations, the market is projected to reach $4.18 billion by 2028 at a CAGR of 7.6%, driven by factors like sustainability, eco-friendly packaging, and technological advancements in food processing.

Growing Demand for Convenience and Ready-to-Eat Foods
The surge in demand for convenience and ready-to-eat foods is a primary driver of growth in the dried soup market. As lifestyles become busier and urbanization increases, consumers seek quick and easy meal solutions, which dried soups readily provide. This trend is highlighted by a report from Agriculture and Agri-Food Canada (AAFC), indicating a record high in processed food and beverage exports in 2022, with a 14.1% increase from the previous year. This growth underscores the rising preference for convenient food products, which includes dried soups that require minimal preparation.

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Key Players and Market Trends
Major companies such as The Kroger Co, Nestlé S.A., and Unilever PLC are actively shaping the market through product innovation and strategic expansions. Notably, Maya Kaimal Foods LLC launched a new range of vegan dried soups in July 2022, featuring flavors like spiced lentil and creamy chickpea. This innovation caters to the increasing demand for plant-based and clean-label products. Companies are also focusing on diversifying their product offerings, such as dried vegetable soups, to meet evolving consumer preferences.

In 2022, Baker Hughes strengthened its market position by acquiring AccessESP LLC, enhancing its capabilities in the oil field services sector. This move aligns with broader industry trends of consolidation and innovation.

Trends
The forecast period will see several major trends impacting the dried soup market:
• Increased Demand for Organic Ingredients: Consumers are increasingly seeking soups made with organic and natural ingredients.
• Innovations in Packaging: New packaging solutions are being developed for enhanced convenience and extended shelf life.
• Rising Popularity of Global Flavors: There is growing interest in diverse and exotic flavors from around the world.
• Expansion in Online Sales: E-commerce platforms are becoming a significant sales channel for dried soups.
• Focus on Health and Wellness Benefits: Consumers are looking for soups that offer health benefits and clean labels.

Segments
The dried soup market is segmented as follows:
• Product Type: Dehydrated Dried Soups, Instant Dried Soups
• Packaging: Pouches, Cups, Boxes
• Distribution Channel: Supermarket or Hypermarket, Convenience Stores, Grocery Stores, Online Retail Stores, Other Distribution Channels

Regional Insights: North America and Asia-Pacific
North America was the largest market for dried soups in 2023, reflecting its established consumer base and high demand for convenience foods. However, Asia-Pacific is anticipated to be the fastest-growing region during the forecast period, driven by increasing urbanization, rising disposable incomes, and growing health consciousness.

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Dried Soup Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Dried Soup Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on dried soup market size, dried soup market drivers and trends, dried soup market major players, competitors' revenues, market positioning, and market growth across geographies. The dried soup market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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