The global organic soup market is vigorously expanding due to the growing number of a health-conscious populace that is adopting a healthy lifestyle and a healthy diet. The recent trend of fitness and adopting a healthy lifestyle is growing rapidly. Moreover, factors such as the growing inclination towards the healthy diet and consumers preference towards having organic soup for its nutritious values is escalating the market on the global platform.
Acknowledging the potential of this market to surge in the years to come, Market Research Future (MRFR) in its recently published analysis asserts that the global organic soup market will experience exponential accruals by 2023 posting a phenomenal CAGR throughout the review period (2018-2023). The recent trend wherein the demand for on-the-go food products has increased is indirectly driving the market for packaged organic soup.
Additionally, the growth of the convenience food market and advancement in food technology alongside the innovation and introduction of natural and organic ingredients have boosted the sales of organic soups. People are becoming aware of naturally grown products, increasingly. Also, their food preferences are changing rapidly, and they adopt different cuisines, culinary and continental food forms which further encourages demand for organic soup.
Simultaneously, the spreading awareness towards the benefits of organic food and the popularity of organic food is fueling the market growth of organic soup, globally. The ever-increasing population and the organic food consumption trends adopted by consumers is the key driving force persuading the worldwide demand posing organic soup as the most dominant product.
On the other hand, factors such as the volatility of prices and the demand & supply gap of the feedstock (raw materials) required for the production of these soups are obstructing the market growth of the organic soups. Nevertheless, the higher demand from the international market is expected to enhance the export revenues, will support the growth of the market, increasing the market size.
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Global Organic Soup Market - Geographical Analysis
The European region heading with the changing consumer preferences towards organic food products is expected to continue with its dominance over the global organic soup market throughout the forecast period. Moreover, factors such as the growing importance of health and wellness among the consumers, especially in Germany, the UK, and Russia are supporting the market growth in the region. Furthermore, the developing economy in the region has led to an increase in disposable income which is enabling Europe to generate a substantial revenue pocket.
The organic soup market in the North American region stands the second-largest position, globally. Factors such as the changing food consumption pattern and high consumption of convenience food due to busy schedules are projected to generate high revenue pockets in the organic soup market in the region, influencing the high production volume of these soups. Also, there are a large number of production bases and consumers of organic soup in the region that drive market growth. Besides, the presence of many well-established players impacts the market growth in the region, positively. Moreover, factors such as the increasing health concerns associated with the consumption of food products made with the artificial and synthetic are driving the market, increasing the consumer inclination towards safer food alternatives as compared to conventional food.
The Asia Pacific organic soup market is emerging as a profitable market, globally. The higher-level production largely contributes to the growth in countries like Australia, New Zealand, China, and India. The market is experiencing substantial developments over the past few years which, in turn, is expected to drive the growth of the regional organic soup market.
The ever-increasing population in some of the rapidly developing countries like China and India along with the changing lifestyles of the consumers are anticipated to stimulate the growth of the overall organic soup market in the region during the assessment period. Furthermore, factors such as the change in consumer preference for organic food over conventionally processed food and the growing inclination for organic food and increasing awareness about its associated health benefits are impacting the growth of the regional market, positively.
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Organic Soup Market - Competitive Landscape
Highly competitive the organic soup market appears to be fragmented with the presence of many large and small-scale players. Innovation, M&A, and brand reinforcement remain key trends for these players. They strive to develop a cost-competitive manufacturing method that can reduce the price of the product as a whole, meant to minimize the downtime, and increase the shelf life of the product. The market competition is estimated to intensify with the expected product innovations and extensions.
Matured key players are increasingly inclined towards enhancing the production of gluten-free and non-GMO - organic soup to satiate the growing consumer demand. They are also emphasizing more on delivering unique products, improved with the longer shelf-life to create product differentiation which is seen to be one of the key focus areas.
Key players leading the global organic soup market include the Kraft Heinz Company (US), Campbell Soup Company (US), Associated British Foods plc (UK), Unilever PLC (UK), Nestlé S.A. (Switzerland), General Mills, Inc. (US), B&G Foods, Inc. (US), and Conagra Brands, Inc. (US) among others.
February 15, 2019 – Organic Soup Kitchen (the US), a leading nationwide company delivering nutritionally dense soups to patients fighting degenerative diseases, undergoing cancer treatments, and low-income seniors, announced its plans to expand expanding its reach further.
February 12, 2019 – Kettle and Fire Inc. (the US), a leading manufacturer and marketer for bone broth launched its new soup line through Kickstarter to take the mealtime hassle out about the keto diet with a $20,000 fundraising goal. Keto is one of the hottest diets right now, but it's far from the convenience when it comes to meal planning. The wide range of soups includes four flavors such as mushroom bisque, broccoli cheddar, spicy cauliflower, and butter curry.
The company thinks that having a suite of products as opposed to just a few will gain further buy-in from major retailers across channels. Kettle & Fire also confirmed that it would be launching four seasoned bone broth products later this year. Starting its keto soup line on Kickstarter will help the brand engage an active online community and drum up excitement before entering retail further down the road.
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