Chilled Soup Market

Chilled Soup Market Outlook (2024 to 2034)

The global chilled soup market is projected to generate revenue of US$ 840.4 million in 2024 and further climb to a value of US$ 1.38 billion by the end of 2034. The market has been forecasted to expand at 5.1% CAGR from 2024 to 2034.

Sales of chilled soup generally increase in warmer climates or seasons and are seen as a convenient quick, ready-to-eat meal option. Several companies are introducing premium chilled soups with a variety of healthy and delicious flavors, including classic recipes like gazpacho. This trend is driving demand and stimulating market growth.

Ongoing innovations in flavor profiles and ingredient combinations are appealing to consumers seeking new and unique taste experiences. The food industry is expanding steadily, bolstered by the growing number of restaurants, cafes, and supermarkets dedicating separate shelves to ready-to-eat products, thus contributing to the expansion of the chilled soup market size.

Key Market Growth Drivers

• Several manufacturers are increasingly producing ready-to-make chilled soups, responding to consumer demand for convenient meal options.
• Growing acceptance and demand for frozen foods across the world are driving chilled soup market growth.
• Companies are focusing on offering chilled soups with a variety of healthy ingredients and flavors to meet changing consumer preferences.
• There is rising demand for chilled soups made from organic and fresh ingredients, which is benefiting companies that prioritize these qualities.
• Key players in the chilled soup market are introducing products enriched with healthy ingredients such as fruits, nuts, and others, emphasizing both nutritional value and taste.
• Globally, new flavors like gazpacho, vichyssoise, and cucumber soup in chilled form are gaining popularity due to their taste, low-calorie content, nutrient richness, and suitability for various diets.
• Many chilled soups are low in calories, making them a preferred choice for weight management diets, typically featuring ingredients like fruits and raw vegetables.
• Chilled soups are also favored for their low-fat content and high water content from raw ingredients or fruits, providing a satisfying feeling of fullness.
• A prominent chilled soup market trend is the rising popularity of plant-based and vegan products, driving potential profitability for companies offering these options.

Report Attribute	Detail
Chilled Soup Market Size (2024E)	US$ 840.4 Million
Forecasted Market Value (2034F)	US$ 1.38 Billion
Global Market Growth Rate (2024 to 2034)	5.1% CAGR
North America Market Value (2024E)	US$ 200.9 Million
East Asia Market Growth Rate (2024 to 2034)	5.4% CAGR
PET Bottles Segment Value (2034F)	US$ 626 Million
Supermarkets/Hypermarkets Segment Value (2034F)	US$ 709 Million
Key Companies Profiled	PepsiCo, Inc.; The Hain Daniels Group Ltd.; Woolworths Group Limited; Tio Gazpacho; Sonoma Brands; Campbell Soup Company; Soupologie; The Billington; Nestle S.A.; Baxters Food Group Limited; Premier Foods Group Inc.

What is Creating Opportunities for Chilled Soup Manufacturers in the Global Market?

“Consumer Demand for Healthier Food Options and Diverse Flavor Experiences”

Manufacturers are increasingly focusing on innovation in chilled soups, with products featuring diverse flavors and complex ingredient combinations gaining popularity globally. They are exploring fusion and exotic flavors that complement diverse culinary traditions. Companies are incorporating superfoods like chia seeds, quinoa, kale, and other trending ingredients to attract consumers. These ingredients not only boost nutritional value but also align with current health and dietary trends.

What are the Factors Restraining Market Growth?

“Shelf Life Heavily Dependent on Cold”

Limited shelf life of chilled soups is a concerning factor for manufacturers, suppliers, and retailers. Cold chain integrity is crucial across the supply chain to preserve freshness and quality. However, maintaining this cold chain consistently can be prohibitively expensive. Consequently, companies aiming to introduce chilled soups into new markets encounter logistical challenges, hindering market expansion.

Country-wise Insights

The North American region is expected to hold 23.9% of the global chilled soup market share in 2024 and is projected to account for 24.3% by 2034. Western Europe holds a significant position in the market due to the growing popularity of ready-to-eat products, instant food products, and frozen soups.

Manufacturers are focusing intensely on East Asia, drawn by several lucrative opportunities arising from the busy lifestyles of individuals who favor convenient food options. Sales of chilled soups in East Asia are forecasted to rise at a CAGR of 5.4% from 2024 to 2034.

How is the Market for Chilled Soup Evolving in the United States?

“Plant-Based and Vegetable-Based Chilled Soups Gaining Popularity”

Attribute	United States
Market Value (2024E)	US$ 89.4 Million
Growth Rate (2024 to 2034)	5.5% CAGR
Projected Value (2034F)	US$ 153.1 Million

Both domestic and international chilled soup providers in the United States are focusing on offering products primarily made from plant-based ingredients or vegetables, responding to their growing popularity among consumers. As more people adopt vegetarian and vegan lifestyles, there is increasing demand for meal options that align with their dietary preferences and ethical values. Manufacturers producing chilled soups using vegetables, legumes, and other plant-based ingredients are seeing profitable returns in the U.S. market. Additionally, non-vegetarian and non-vegan consumers are also drawn to these chilled soups for their nutritional value and various health benefits.

Why are Chilled Soup Producers Directing Their Attention toward South Korea?

“High Demand for Unique-Flavored Soups and Innovative Culinary Experiences”

Attribute	South Korea
Market Value (2024E)	US$ 41.8 Million
Growth Rate (2024 to 2034)	5.8% CAGR
Projected Value (2034F)	US$ 73.7 Million

Rising demand for innovative culinary experiences in South Korea is driving the development of new and distinctive flavors, fueling growth in the chilled soup market. Unique-flavored chilled soups are increasingly favored by consumers in South Korea, particularly during summer when they are widely offered in restaurants and cafes. Domestic companies in South Korea are actively introducing chilled soups that appeal to global tastes, expanding beyond traditional cuisines. This trend is attracting international manufacturers to explore opportunities in the South Korean market.

Category-wise Insights

Based on type, the market is segmented into chunky soup, crème soup, and other types. Chunky soups hold a significant market share due to extensive consumer preference. Consumers prefer chunky chilled soups because they are made using veggies such as celery, carrots, and potatoes.

Why are PET Bottles Widely Preferred for Chilled Soups?

“Flexible and Lightweight Nature of PET Bottles Contributing to Convenience”

Attribute	PET Bottles
Segment Value (2024E)	US$ 384.1 Million
Growth Rate (2024 to 2034)	5% CAGR
Projected Value (2034F)	US$ 626 Million

Chilled soup companies widely favor PET bottle packaging for its lightweight yet durable qualities, which facilitate easy handling and transportation without compromising product safety and integrity. PET bottles provide excellent protection against external elements like moisture and oxygen, crucially preserving the freshness and quality of soups throughout their shelf life. Another advantage of PET bottles is their transparency, allowing consumers to see the contents inside.

Many companies opt for PET bottles to enhance the visibility and attractiveness of chilled soups on store shelves. The flexibility of PET allows for cost-effective molding into various shapes, unlike options such as glass. This capability enables companies to attract a wide range of consumers with uniquely designed packaging for chilled soups.

What Makes Supermarkets and Hypermarkets Lead Chilled Soup Sales?

“Supermarkets/Hypermarkets Offering Wide Selection of Products and Involved in Promotional Strategies”

Attribute	Supermarkets/Hypermarkets
Segment Value (2024E)	US$ 435.3 Million
Growth Rate (2024 to 2034)	5% CAGR
Projected Value (2034F)	US$ 709 Million

Supermarkets and hypermarkets account for robust sales of chilled soup compared to other distribution channels because these stores offer a wide variety of chilled soup brands. This extensive selection attracts a significant portion of shoppers looking to purchase convenient meals or other items. Moreover, supermarkets and hypermarkets typically maintain superior refrigeration units that ensure the quality and freshness of chilled soups, essential for preserving their appeal as ready-to-eat meals.

These large retail outlets also frequently promote chilled soups through discounts, promotions, and exclusive deals, appealing to budget-conscious customers and encouraging trial purchases. The availability and accessibility of chilled soups in supermarkets and hypermarkets further contribute to their popularity, as customers can easily find and purchase them during routine shopping trips.

Competitive Landscape

Companies are continuously focusing on inventing new flavors, using different ingredients, and improving packaging to attract consumers and meet their requirements.

• In September 2023, with the introduction of Campbell's Culinary Reserve, Campbell's Foodservice repositioned its frozen soup line to include over 60 chef-inspired soups. The new Campbell's Culinary Reserve line, which combines Campbell's Foodservice's Signature and Reserve frozen soup offerings, gives operators a convenient one-stop shop for delectable, premium soup that comes in 4-pound frozen tubs of condensed soup and 4-pound frozen pouches of ready-to-eat or ready-to-cook soup.
• In November 2022, Brakes, a well-known foodservice wholesaler with headquarters in the United Kingdom, launched a new range of frozen soups sold under the Sysco Classic brand. The line comprises four vegan-friendly soup types that are packaged in 275-gram pouches.

Fact.MR provides detailed information about the price points of key manufacturers of chilled soups positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Chilled Soup Market Research

• By Type :

  • Chunky Soup
  • Crème Soup
  • Other Types

• By Packaging :

  • PET Bottles
  • Cartons
  • Cups/Tubs
  • Pouches

• By Distribution Channel :

  • Supermarkets/Hypermarkets
  • Premium Grocery Stores
  • Online Retail
  • Direct Selling

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa