Soup and Broth Market

Soup and Broth Market Outlook (2024 to 2034)

The global soup and broth market size is set to reach a value of US$ 9.68 billion in 2024 and further expand at a CAGR of 3.7% to end up at US$ 13.89 billion by the year 2034.

Soups and broth are available in a wide range of forms, including canned, instant, chilled, and frozen. To satisfy the dietary needs and preferences of different consumers, these products also come in a range of flavors and formulas.

Professionally speaking, the soup market is a part of the broader food and beverage industry, which is characterized by patterns that are always changing due to factors such as consumer demand, health concerns, and culinary innovations. Market actors in this space include producers, retailers, caterers, and food components and packaging suppliers. To meet the diverse needs of customers from various demographic and geographic backgrounds, companies are engaging in a range of activities, including innovative product creation, targeted marketing, and distribution & retailing expansion, thereby complementing global soup and broth market growth.

Growing desire for quick and filling supper alternatives will keep driving the soup business, driving up demand for more diverse and healthier food options. Growing popularity of plant-based diets and clean-label soups is a sign of a movement toward more sustainable and transparent food alternatives. Globally inspired and tailored cuisines are also gaining popularity and meeting consumers' need for cutting-edge culinary experiences, leading to the steadily increasing soup and broth market size.

Report Attributes	Details
Soup and Broth Market Size (2024E)	US$ 9.68 Billion
Forecasted Market Value (2034F)	US$ 13.89 Billion
Global Market Growth Rate (2024 to 2034)	3.7% CAGR
Mexico Market Growth Rate (2024 to 2034)	3.9% CAGR
Japan Market Value (2034F)	US$ 646 Million
North America Market Share (2024E)	22.6%
East Asia Market Value (2034F)	US$ 3.5 Billion
Key Companies Profiled	Campbell Soup Company; Pacific Foods of Oregon; College Inn; Progresso; Knorr; Manischewitz Company; Paleo Broth Company; Bonafide Provisions; Bare Bones Broth; Unilever; Del Monte Food Inc.; Hain Celestial Group; Epic Provisions LLC; Kettle and Fire Inc.; LonoLife; McCormick and Company Inc.; Zoup Specialty Products

What is Bringing a New Layer of Growth Opportunities to the Soup and Broth Market?

“Soups and Broth Acting as Ready Meal Options for Working Class People”

Because of hectic lifestyles and demanding work schedules, convenience plays a major growth-inducing role in the soup business. Growing numbers of people are living in dual-income families and are under time pressure. As such, they're searching for ready-to-eat (RTE) and convenience foods that are simple and quick to make, and soup fits the bill perfectly.

• For example, the Ministry of Statistics & Program Implementation, India, produced PLFS data that showed that the country's working population ratio (WPR) for individuals grew to 56% in 2022 to 2023 from 52.9% in 2021 to 2022 and 52.6% in 2020 to 2021.

Convenient meal alternatives such as soup are popular as a result of an increase in the working population and rising disposable incomes. Furthermore, businesses are developing simple packaging designs that are easy to open, consume, and discard due to the growing demand for ready-to-eat food items.

• Campbell, for instance, provides soup in microwave-safe cups, which is a better packing option than powdered soup in standard packets.

“Flavour Diversity Playing Key Role in Pushing Market Ahead”

Another key factor complementing the growth of the soup business is the variety of flavors available nowadays. In search of a culinary experience that goes beyond conventional soup alternatives, consumers have become more receptive to trying out novel and distinctive flavors. Manufacturers are also introducing soups with traditional tastes such as Thai, Mexican, Indian, Mediterranean, and others due to the growing consumer desire for unique and ethnic cuisines.

• For example, plant-based, vegan, and gluten-free soup business Tideford Organics in the U.K. increased its retail distribution from the previous year and introduced a variety of new soup flavors and better recipes in September 2022. Indian Cauliflower Masala, Lebanese Lentil + Kale, and Malaysian Coconut + Noodle soups were introduced by its innovative range.
• Comparably, the Campbell Soup Company debuted Chunky Spicy Chicken Noodle Soup in June 2021, drawing a sizable customer base with its potent chili pepper taste and lingering vinegar undertones.

By providing a broad range of soup flavors, industry participants are catering to changing consumer tastes and preferences, promoting culinary experimentation and enjoyment.

What is Putting a Leash on Soup and Broth Market Growth?

“Arising Health Problems Due to Continuous Corn Starch Intake”

Frequent use of maize starch and salt is a market restraint and has been linked to several health problems such as diabetes, high blood pressure, and obesity. Since they act as thickeners, maize flour and corn starch are used in the preparation of most foods, especially dried and canned soups. In countries such as Japan, eating soup is a typical element of the diet.
Rising knowledge of the consumers of today regarding the chemicals added to their food is restricting the growth of the industry to some extent.

Country-wise Analysis

What is Expected from the United States Market for Soup and Broth?

“Health and Wellness Becoming Top Priority for More People”

Attribute	United States
Market Value (2024E)	US$ 1.62 Billion
Growth Rate (2024 to 2034)	2.9% CAGR
Projected Value (2034F)	US$ 2.15 Billion

Expanding wellness and health trends are having a big impact on the soup market in the U.S. More consumers are now looking for food alternatives that are rich in nutrients and have become more aware of their nutritional choices. Soups are hit with people who give high importance to their health and fitness. Combining veggies, lean meat, lentils, and complete grains into one meal makes this prospect extremely attractive.

• Local food chain Zoup! Eatery debuted Zoup! in January 2022. One of Zoup!'s home-style bases is available in Good, Really Good Soups, a range of high-quality soups and broths devoid of gluten, artificial additives, and preservatives.
• Herbalife Nutrition entered the U.S. soup market in November 2021 with Instant Soup, a delicious and high-protein snack. Three grams of fiber and fifteen grams of plant-based protein are included in the soup mix's formulation to help stave off hunger and offer sustained energy.

How is the Market for Soups and Broth Evolving in China?

“Growing Vegan Populating Key Market Driving Factor”

Attribute	China
Market Value (2024E)	US$ 1.65 Billion
Growth Rate (2024 to 2034)	4.1% CAGR
Projected Value (2034F)	US$ 2.45 Billion

An increasing number of vegans is having a huge impact on how vegetable stocks and broths are used in both industrialized and developing countries. The public's desire for vegan soups is rising, and, as such, leading companies are making them in different forms. Except for vegans, most people prefer healthy vegetable soups to non-vegetarian ones. The market gains from customers' growing acceptance of these broths. China is a well-known country that has consumed soup and related food items for ages. The vegan trend has only bolstered market expansion in the country over the past few years.

Category-wise Evaluation

Which Type of Soup is Most Popular across the World?

“Tomatoes Segment Leading among All Different Ingredient Types”

Attribute	Tomatoes
Segment Value (2024E)	US$ 1.94 Billion
Growth Rate (2024 to 2034)	3.4% CAGR
Projected Value (2034F)	US$ 2.71 Billion

Both suppliers and customers are increasingly favoring the use of tomatoes as the main ingredient in soups and broth. Tomatoes are highly desired by customers due to their diverse flavor profile and many health advantages. Tomatoes' inherent umami and acidity improve the flavor of soups and broth, which makes them a necessary component in many recipes. This is a key soup and broth market trend that is expected to continue well over the next ten years in several parts of the world.

Which Sales Channel Accounts for a Leading Market Position?

“Wholesale Distributors Enjoy Bulk of Market Share”

Attribute	Wholesale Distributors
Segment Value (2024E)	US$ 3.34 Billion
Growth Rate (2024 to 2034)	3.59% CAGR
Projected Value (2034F)	US$ 4.75 Billion

Wholesale distribution leading to direct sales is the most popular choice for manufacturers looking to push the sales of their soup and broth products. Wholesale channels are an attractive option for providers in the market because of their natural reach and wide distribution system. Soup and broth companies are well aware that working with wholesale distributors can help them reach their full potential in sales by connecting them with a larger consumer base.

Market Competition

Key players in the soup and broth market are coming up with customized soup kits that let customers tailor their soups to suit their tastes. Innovations, portfolio consolidation, and new product releases, including instant soup and frozen soup, are key tactics being used by companies to expand their customer base.

• In April 2024, NotCo, a pioneer in food technology, developed a plant-based substitute for turtle soup to protect the world's green sea turtle population while honoring the traditional recipes of several countries that continue to eat turtle flesh. With the help of NotCo's cutting-edge AI technology and Peruvian chef Diego Oka's culinary prowess, the recently created NotTurtle Soup imitates the flavor and texture of actual turtle flesh without requiring the presence of a turtle.
• The Peninsular Export Company introduced SAARRU, the first indigenous soup from India, with regional variations, in November 2023. The company sells three types of soup: chicken soup masala, mutton soup masala, and chicken coriander rasam masala. It plans to add more flavors to its line-up shortly.

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

Key Segments of Soup and Broth Market Research

• By Product Type:

  • Traditional
  • Light
  • Vegetarian Classics
  • Non-Vegetarian
  • Organic
  • Noodles
  • Other Product Types

• By Ingredient:

  • Tomatoes
  • Beans
  • Chicken
  • Beef
  • Broth
  • Artichokes
  • Mixed Vegetables
  • Other Ingredients

• By Sales Channel:

  • Wholesale/Distributors/Direct
  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Online Retailers
  • Other Retail Formats

• By Region:

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