Market Size of North America Soup Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 6.04 Billion |
Market Size (2029) | USD 6.55 Billion |
CAGR (2024 - 2029) | 1.65 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North American Soup Market Analysis
The North America Soup Market size is estimated at USD 6.04 billion in 2024, and is expected to reach USD 6.55 billion by 2029, growing at a CAGR of 1.65% during the forecast period (2024-2029).
Because of capitalization, urbanization, and the growth of industries, consumers have begun to prefer ready-to-cook convenience foods. As people have become more aware of their health and nutrition, foods with less quantity and better nutrition are being preferred across the country. Soups in their different forms are preferred by different age groups of consumers. Instant and dehydrated soups are expected to grow in the near future due to the demand for innovations followed by busier lifestyles and consumer preferences.
Over the medium term, new cultural influences and rising culinary trends are the major factors boosting the soups market in North America. The market is also witnessing a seasonal sales surge, as consumers tend to buy soups more during the winter compared to the summer. The increasing product varieties, consumption of health and wellness products, and active promotions by the market players have contributed to the market's growth over the past few years.
The rising demand for healthy food products is expected to boost the demand for soups in the region, which accounts for a significant share of the market. Moreover, there is an increasing consumer preference for instant soup, such as instant noodles and cup noodles soup, as a snacking option. Companies offering natural and nutritious ingredients in soups and the increasing preference for convenient food are driving the soup market in the region.
North American Soup Industry Segmentation
Soup is primarily liquid food, generally served warm or hot, that is made by combining ingredients of meat or vegetables with stock, milk, or water.
The North American soup market has been segmented by type, category, distribution channel, and country. By type, the market is segmented into canned/preserved, chilled, dehydrated/instant, and other types. By category, the market is segmented into conventional and organic. By distribution channel into supermarkets/hypermarkets, convenience stores, online stores, and other distribution channels. Also, the study provides an analysis of the soup market in the emerging and established markets across the region, including the United States, Mexico, Canada, and Rest of North America. For each segment, the market sizing and forecasts have been done on the basis of value in USD million.
Type | |
Canned/Preserved | |
Chilled | |
Dehydrated/Instant | |
Other Types |
Category | |
Conventional Soup | |
Organic Soup |
Distribution Channel | |
Supermarkets/ Hypermarkets | |
Convenience Stores | |
Online Stores | |
Other Distribution Channels |
Country | |
United States | |
Canada | |
Mexico | |
Rest of North America |
North America Soup Market Size Summary
The North American soup market is experiencing a steady growth trajectory, driven by changing consumer preferences towards convenience and health-conscious food options. As urbanization and industrial growth continue to influence consumer behavior, there is a noticeable shift towards ready-to-cook and instant soup products. This trend is further amplified by the increasing demand for innovative and time-saving meal solutions, particularly among busy professionals and health-conscious individuals. The market is characterized by a diverse range of product offerings, including instant and dehydrated soups, which cater to various age groups and lifestyle preferences. Seasonal variations in soup consumption also play a significant role, with higher sales observed during the winter months. The market's expansion is supported by active promotions, the introduction of new flavors, and the growing popularity of plant-based and nutritious ingredients.
The competitive landscape of the North American soup market is marked by the presence of both international and regional players, who are continually innovating to meet evolving consumer demands. Companies like Campbell Soup Company, Unilever PLC, and General Mills Inc. are at the forefront, focusing on product innovation, strategic pricing, and distribution to capture a larger market share. The introduction of premium and novel flavors, along with the marketing of products as convenient meal options, has resonated well with consumers, particularly millennials who are increasingly avoiding high-sodium and artificial ingredients. The market is also witnessing a rise in the production of health-oriented soups, such as those offered by Health Valley Organic, which cater to the growing demand for organic and heart-healthy options. As these companies invest in research and development to enhance their product offerings, the North American soup market is poised for continued growth, driven by the dual trends of convenience and health.
North America Soup Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitutes
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1.3.5 Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Canned/Preserved
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2.1.2 Chilled
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2.1.3 Dehydrated/Instant
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2.1.4 Other Types
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2.2 Category
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2.2.1 Conventional Soup
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2.2.2 Organic Soup
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2.3 Distribution Channel
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2.3.1 Supermarkets/ Hypermarkets
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2.3.2 Convenience Stores
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2.3.3 Online Stores
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2.3.4 Other Distribution Channels
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2.4 Country
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2.4.1 United States
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2.4.2 Canada
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2.4.3 Mexico
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2.4.4 Rest of North America
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North America Soup Market Size FAQs
How big is the North America Soup Market?
The North America Soup Market size is expected to reach USD 6.04 billion in 2024 and grow at a CAGR of 1.65% to reach USD 6.55 billion by 2029.
What is the current North America Soup Market size?
In 2024, the North America Soup Market size is expected to reach USD 6.04 billion.