Canned Soups Market Size, Trends and Growth Analysis by 2027

The global market for canned soup is projected to expand significantly, increasing from US$ 4,889.04 million in 2019 to US$ 6,494.95 million by 2027. This growth represents a compound annual growth rate (CAGR) of 3.8% from 2020 to 2027.

During the forecast period, North America is expected to capture a substantial share of the global canned soup market. The shelf life of canned soups refers to the duration they remain palatable before degrading. Ingredients that extend shelf life are incorporated into canned soup products to slow down food degradation, allowing for longer storage. These ingredients can be either organic or conventional. They also help maintain efficient food logistics, support the preservation of canned soups in frozen conditions, and enhance consumer confidence regarding food stability.

As consumers become increasingly health-conscious, they are more aware of their dietary choices. Health benefits associated with canned soups, such as enhanced immunity, reduced caloric intake, and increased protein consumption, are anticipated to drive demand for these products. Furthermore, canned soups with extended shelf life often contain high levels of essential nutrients, including vitamins, minerals, and proteins. Globally, younger consumers are leaning towards premium products that offer health benefits and are willing to adjust their eating habits to embrace healthier nutrition. Canned soups made from fresh vegetables, meat, and bone have surged in popularity due to their nutritional advantages and extended shelf life. Additionally, consumers are choosing canned soups over other protein sources because they provide a balanced mix of macro and micronutrients along with a high protein concentration.

Convenience is another factor contributing to the preference for canned soups over those served in restaurants and food outlets. The accessibility and durability of canned soup packaging make it a favored choice. Incorporating canned soups into one?s diet can enhance protein intake while helping to manage caloric consumption. Consequently, the growing consumer focus on nutrition-oriented canned soups is propelling market growth.

In terms of market segmentation, the non-vegetarian segment dominated the global canned soup market in 2019. The high demand for non-vegetarian canned soups can be attributed to their diverse nutritional profile and elevated protein content. These soups serve as a rich protein source and offer various health benefits, including weight management, alleviation of joint pain, reduction of skin aging, and appetite control. Non-vegetarian canned soups typically contain higher levels of essential minerals like calcium and magnesium compared to other animal protein sources. Thus, the increasing demand for healthy food and beverage options worldwide is driving growth in the non-vegetarian segment.

Key players in the global canned soup market include Campbell Soup Company, Amy's Kitchen Inc, General Mills Inc., The Kraft Heinz Company, Baxters Food Group, Unilever, Struik Foods Europe NV, Vanee Foods Company, BCI Foods Inc., and Hain Celestial Companies.

Currently, many regions around the world are experiencing lockdowns due to the COVID-19 pandemic. In the most affected countries, isolation and social distancing measures have been implemented. The reduced production of goods and commodities has negatively impacted the growth of the global canned soup market, as demand for these products has declined in recent months. The pandemic and the measures taken to control the spread of the virus have disrupted the food and beverage industry globally, primarily due to interruptions in supply and distribution chains. Additionally, restrictions on manufacturing processes, research, and development activities are further constraining the global canned soup market.

The overall size of the global canned soup market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aimed to provide an overview and forecast for the global canned soup market across all segments and regions. Furthermore, multiple primary interviews were conducted with industry participants and commentators to validate the data and gain deeper analytical insights. Participants included industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the global canned soup market.