Chilled Soup Market Size, Share, Growth, and Industry Analysis, By Type (PET Bottles, Carton Packaging, Cups/Tubs, and Pouches), By Application (Supermarket/Hypermarket, Premium Grocery Stores, Online Retail, and Direct Selling), Regional Forecast to 2031

Updated On: 22 April 2024

Chilled Soup Market Report Overview

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global chilled soup market size was USD 742 million in 2022  and market is projected to touch 1183.86 million by 2031, exhibiting a CAGR of 5% during the forecast period.

Products in the chilled soup market include pet bottles, carton packaging, cups/tubs, and pouches. Pet bottles are the most preferred format due to their ease of use in dealing with any issue. They can be eaten on the move or at home because of its leakproof closure, which prevents leakage even when shaken up. Cartons are also growing popularity due to their portability, which allows them to cater to mass consumers who want convenient food items when they move outside the house.

One of the primary factors driving the growth of the chilled soup market is the global increase in demand for convenience meals. The increased popularity of dry soup products due to their higher nutritional, vitamin, mineral, and protein content than other forms of convenience soup products, as well as increased awareness about the health advantages of chilled soups, drive market expansion. The expanding working population's desire for processed food due to its health benefits, as well as the high preference for packed chilled soups over soups served in restaurants and food outlets due to the convenience of access and durability of the packages, all have an impact on the chilled soup market share and revenue.

COVID-19 Impact: Pandemic to Affect the Chilled Soup Market Growth

The pandemic caused numerous economic effects around the world. numerous limits were imposed on particular productions, causing market downturns in numerous sectors and businesses. People stopped eating out, which reduced the demand for street food and luxury food in general, as people preferred to eat at home. The global population began dining at their own homes. People prefer soft cuisine that is satisfying at home; sausages would not be a popular choice for many. This decreasing demand for such food items led in a reduction for this specific market, causing the chilled soup to decline market share and revenue were also affected, resulting in several financial blunders and failures.

Latest Trends

"Pet Bottles to Drive the Chilled Soup Market Growth"

A major driver driving the market is the rising demand for chilled soup products such as PET bottles, carton packaging, cups/tubs, and pouches in various shapes. Rising disposable incomes in developing countries are also driving this market's expansion. Furthermore, food safety standards have pushed manufacturers to be more cautious about their ingredients, which has prompted them to use higher-quality raw materials that are more expensive than before, boosting sales in most countries throughout the world.

Chilled Soup Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into PET Bottles, Carton Packaging, Cups/Tubs, and Pouches amongst which PET bottles are the leading segment.

• By Application Analysis

Based on application, the market can be divided into Supermarket/Hypermarket, Premium Grocery Stores, Online Retail, and Direct Selling amongst which Supermarket is the leading segment.

Driving Factors

"Increased Demand of the Product to Surge the the Chilled Soup Market Growth"

According to certain estimates, the chilled soup market will experience a growth in its supply and demand chain. The chilled soup has a great nutritional value. It has a high calcium concentration in particular. It's a much healthier alternative to sausage casings. Because these casings are composed entirely of plant ingredients, they are completely nutritious and healthy. Vegans and vegetarians have a great option for banger casings. This aspect has pushed the market hard.

"Healthy but Quick Diet Adoption to Proliferate the Chilled Soup Market Growth"

Vegans and vegetarians insist on 100% gluten-free and vegetarian foods. Because these chilled soup are entirely constructed of plant ingredients, they are 100% vegetarian and nutritious, which means they do not contain any gluten. Gluten-free casings are available. These casings are designed to meet the requirements and desires of the individuals who use them. Because these items are in high demand, the chilled soup market is expected to expand with greater vigor.

Restraining Factors

"Unawareness of the Products in the Latter Parts of the World to Affect the Chilled Soup Market Growth"

There are still some regions of the world where vegetarians and vegans are unaware that such a casing exists. This lack of understanding about the chilled soup could disrupt the entire supply and demand chain, as demand for this product is expected to decline. If demand is low, production will be lower, resulting in financial mistakes for the entire sector. It will also have an impact on the total production of the goods, causing enormous interruptions. These reasons may limit the growth of the chilled soup market.

Chilled Soup Market Regional Insights

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"North America to Attribute to the Chilled Soup Market Growth"

According to the research, North America is predicted to contribute the most to the growth of the chilled soup market. It has been observed that people in this region, particularly the United States, are significantly more likely to snack at least once a day than people in other parts of the region. This area has the most vegans and vegetarians. Sausages are more of a brunch or midday (afternoon) meal item in this region, indicating that consumption and production of this commodity are highly high. chilled soup is pretty healthful, which is essential in this field. Thus, North America contributes to the growth of the chilled soup market.

"Europe to follow North America in attributing the Vegetarian Sausage Casings Market growth."

Europe has a sufficient number of people who prefer healthy vegetarian diet. Sausages are also consumed at brunches and lunches in this region. This region also has considerable consumption and manufacturing of this product. As a result, Europe appears to be following North America in becoming the contributor to the expansion of the chilled soup market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive"

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• The Billington (U.K.)
• The Hain Daniels (England)
• Soupologie (U.K.)
• Sonoma Brands (U.S.)
• Tio Gazpacho (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.