Soup Market Size to grow by USD 4603.1 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Soup Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The global packaged foods and meats market encompasses vendors engaged in food processing to ensure food safety and extend product shelf life. Technavio's market analysis calculates the market size based on the consolidated revenue of participating vendors, excluding equipment manufacturers. This market segment does not cover producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Key growth drivers for the global packaged foods and meats market include the health benefits associated with consuming minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. - The Soup Market is experiencing significant growth, fueled by the New product launches. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • New product launches
  • Growing preference for convenience food products in working population
  • Product recalls
  • Stringent regulations in food and beverage industry
• Growth Projections

The market size is estimated to grow by USD 4603.1 million, at a CAGR of 4.36% during the forecast period. Vendors in the soup market have amplified their marketing efforts through innovative strategies and advertisements to boost product visibility. This trend is reflected in the significant increase in marketing and advertising budgets, with Nestle's consumer-facing marketing expenses rising by 6.4% in 2021 compared to 2019. Notably, Nestle has been proactive in promoting its offerings, including MAGGI Soup, on a global scale. Campbell Soup is another notable player, having executed various promotional activities in 2020.

For insights on company offerings- Request a sample report!

• Regional Insights

As a seasoned business analyst, I'm pleased to provide insights into the dynamic soup market. This sector experiences robust growth, driven by consumer preferences for healthier, convenient, and diverse culinary options. Key players prioritize innovation, sustainability, and strategic partnerships to meet evolving market demands. The market size is projected to expand significantly, offering lucrative opportunities for investors and stakeholders.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/