United States (USA) Soup Market Size, Share & Trends, Sector / Industry Report & Analysis, 2018-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: United States (USA) Soup Market


The U.S. soup market size was estimated at USD 6,825.6 million in 2016. Growing demand for organic soups owing to increasing awareness regarding health and wellness is expected to have a positive impact on industry. The product aids nutritional and low-calorie intake, which helps to reduce weight.

  
Rising disposable income, coupled with extended shelf life of product is expected to drive the market growth. Burgeoning demand for products with natural and fresh ingredients coupled with the introduction of customized products based on ingredients or soup base as per the consumers’ demand is expected to drive the growth of the market.
U.S. frozen/refrigerated soup industry segment is anticipated to witness fastest growth over the forecast period followed by wet broths/stocks owing to the changing consumer preferences towards convenience food. Basic ingredients such as vegetables and lean meat increases health quotient of the product, which increases the consumer affinity towards the product purchase.
The U.S. soups industry follows the growth of convenience foods, which is expected to be driven by flexible and informal approach by the consumers towards preparation and consumption of food. Changing consumer demographics in the U.S. are expected to contribute to the industry growth over the forecast period.
The raw material industry for the market is characterized by the presence of a large number of suppliers. In addition, the industry is moving towards the use of organic ingredients owing to concerns regarding the excessive use of preservatives products. The use of preservatives and artificial products is highly supervised by authorities such as U.S. FDA.
Off-trade distribution accounts is one of the dominant distribution channels for the market owing to the expansion of retail and grocery chains. Furthermore, the industry has observed a significant increase in distribution through on-trade channels such as restaurants and hospitality chains. Rise in demand for nutritional meals which can be prepared at short notice is expected to boost growth of the market.

Market Segmentation, Outlook & Viewpoint: United States (USA) Soup Market


This report forecasts revenue growth at country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the U.S. soup market report on the basis of product and distribution channel:

Product Outlook (Revenue, USD Million; 2014 - 2025)

Ready-to-eat

Condensed

Dry

Frozen/Refrigerated

Wet Broths/Stocks

Distribution Channel Outlook (Revenue; USD Million; 2014 - 2025)

On-trade

Off-trade

Key Players, Recent Developments & Regional Insights: United States (USA) Soup Market


The demand for ready-to-eat soups is expected to be driven by consumption of such products by young population and people with busy lifestyles owing to the low time availability. This segment contributes the largest share to the market, registering a growth rate of 0.3% by revenue.
The demand for condensed soup is expected to witness a rise over the forecast period owing to the increasing use by restaurants and hotels as base puree for the soups. In addition, rise in use of condensed wet soup as a base ingredient for home cooked meals is also expected to drive the growth of the industry.
The dry/dehydrated soup industry is anticipated to be driven on account of quick and easy preparation and less efforts required to cook. In addition, the availability of wide-range of flavors makes the product appealing to consumers, which is expected to boost the growth of the product over the forecast period.
The increasing use of frozen soups can be attributed to the extended shelf life of the product. The product is majorly used by consumers in the Asian economies, and nuclear family households. Wet broth/stock is a base soup which can be eaten alone or used as a base for other dishes. This segment is expected to witness a growth rate of 3.6% over the forecast period.
Distribution Channel Insights
Growth in on-trade distribution can be attributed to the preference of consumers for restaurant food. On trade distribution channel includes outlets such as restaurants, schools, hospitals, and hospitality chains. However, very small share of product distribution takes place through on trade channels, as it is less profitable in terms of sales.
Large hospitality chains such as Hilton, Hyatt, JW Marriott have created a large opportunity for the U.S. soups market. Condensed wet soup and wet broths/stocks are the most widely as a base soup in on trade distribution channel. Professional working at the outlet play an important role in this distribution channel in the sale of product.

  
The distribution of products through off trade distribution channel is expected to gain market share owing to the availability of product at comparatively cheap prices. Most of the sales volume is generated through large supermarket chains, convenience stores and retail store and registering higher growth of the U.S. soups market.
Supermarkets and hypermarkets are most preferred off trade distribution channel. Supermarkets and other retail stores are important distribution channels to reach the consumers. Improving scenario of retail industry is expected to bolster the growth of the market. Increase in distribution channels and their reach in urban and rural area is one of major factors having impact on the industry.

Country Insights
 
The industry in the U.S. is expected register a CAGR of 1.5% from 2018 to 2025 on the account of factors such as rising demand from the consumers, favorable government regulations, and increasing disposable income. In addition, rapid urbanization, changing lifestyle of consumers and changing taste preferences is estimated to drive the U.S. soups industry.
The industry is expected to witness a significant demand in frozen/refrigerated soups and wet broths/stocks in the forecast period. Factors such as increasing number of working women and decreasing average household size are driving the demand for convenience food, which in turn is driving the growth of soups industry in U.S.
The consumers in the economy are involved in the consumption of a high volume of ready-to-eat soups with the products being considered as one of the most important parts of the American household. In addition, low substitution rates observed in the industry is expected to result in a sustained product over the forecast period.
U.S. Soup Market Share Insights
The industry characterized by the presence of a large number of manufacturers catering to the domestic and the international markets. Large players operating in the market account for relatively large share of the U.S. soups market. The companies enter into a long-term contract with the raw material suppliers to ensure constant supply.
The companies operate through a dedicated distribution channels for major distributors such as Walmart, Costco, Target in order to sustain sales. The market players also resort to product customization such as low sodium soups, no salt soups, gluten-free soups in accordance to the demand from customers.
The companies are focusing on research and development of new products with improved taste and prolonged shelf life in order to expand its customer base and increase the company revenues. Key manufacturers resort to multiple mergers and acquisitions in a bid to improve the market share of the company.

Key Insights Covered: Global United States (USA) Soup Market
1.  Market size (sales, revenue and growth rate) of United States (USA) Soup industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of United States (USA) Soup industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of United States (USA) Soup industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of United States (USA) Soup industry.

Research Methodology: United States (USA) Soup Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.