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Consumer demand for organically produced
goods continues to grow by double digits, providing market incentives for
farmers in the United States across a wide range of products. Organic products
can now be found in nearly 20,000 natural food stores and nearly three out of
every four conventional grocery stores. According to recent industry
statistics, organic sales account for more than 4% of total food sales in the
United States. U.S. Soup Market size is forecasted to reach $7,320 million by 2027 and is expected to grow at a CAGR of 2% during the forecast period 2022-2027.
The number of Millennials embracing vegan
and vegetarian diets, as well as rising customer demand for pre-packaged foods
that meet their nutritional criteria, are driving this industry forward.
Vegetarian packaged food and vegan items will be more readily available and
more affordable, making it much easier for more individuals to adopt and
maintain a vegetarian diet. Plant-based diets have increased by as high as 300%
for Americans in the last 15 years and the global retail market for such
plant-based proteins may touch upwards of $162 billion by 2030 owing to the
ever-increasing popularity. Asa increased health and environmental consciousness
continue to drive consumer desires and decisions, manufacturing technologies
should adapt accordingly. Many existing solutions are already addressing this
increased demand, but manufacturers should also consider adapting to customers’
unique internal processes, the type of product being developed and the means
of processing them. Readymade soup has become a popular product in today’s
consumer markets. Consumers are now more aware of food's composition, nutrient
levels and health effects thanks to the epidemic. This paved the path for
individuals to switch to healthier options, such as organic foods, in both their
food choices and the food supply chain. This has caused a worldwide trend
toward organic food products. Organic food in the US is rapidly gaining
popularity and is now considered mainstream. Statistics on organic foods indicate
that 3 out of 4 conventional grocery stores now sell organic foods, with
produce accounting for 43% of organic food sales.
According to a Pew Research study, 76 percent of adults polled purchased organic foods for their health benefits, followed by environmental concerns at 33 percent and convenience at 22 percent. Potatoes USA recently released data that shows a tremendous increase in retail demand for potatoes, which account for the majority of sales. Retail purchases of all potato products were 41% higher in March 2020 compared to the same time frame last year. Gluten-free diets are becoming increasingly popular, particularly among customers in the United States. According to recent studies, rising health concerns will eventually increase sales of dehydrated onions. Due to rising customer preference for dehydrated foods, healthier goods are projected to boost market expansion. More "organically acceptable" agricultural practices are gaining momentum and it appears that even though organic food products are more expensive than foods treated with chemicals, it is healthier and it is this health factor that is winning the war against chemically treated consumer goods. Today, organic food is finally reaching an all-time high acceptance from consumers, increasing demand for it. Globally, there is a crazed fascination with vegetable magnetism. Nowadays, going vegan is a fashion statement and more and more people throughout the world are doing so. Plant-based proteins are having a moment right now. which have led to an increase in foods and drinks made from plants.
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U.S. Soup Market Growth Drivers
Medicinal Benefits of Consuming Soups are Anticipated to Drive Market growth:
People are now
putting greater emphasis on their diet and nutrition in an effort to
correct nutrient deficiencies and lifestyle disorders. New dietary
trends have exploded as a result of rapid technological improvements. As a
result, there is a growing need for high-quality, economically viable
alternative food items. These foods satisfy both the nutritional requirements
and the wide range of consumer desires. Vegetable soups and creams have also gained
popularity among U.S. consumers. As per NIH, Vegetable soup sales grew by 5%
from 2014, driven by the growing demand for healthy ready to eat products and
the rise of Veganism. Broccoli's popularity in the United States has grown
significantly in recent decades, owing to its versatility as a versatile
vegetable that can be quickly used in a variety of dishes. According to the green
giant survey, it has stated that broccoli is America's favorite vegetable in the
year 2021, Consumers who chose broccoli as their favorite vegetable cited
'taste' as the most important reason for their decision. This is further propelling
the market for already popular flavors such as The Broccoli Cheddar, across the
U.S.
Growing Inclination to Consume Healthy Food Assists in the Market Growth Along with New Product Offerings have Created a Sustainable Market:
The acceptance of nutritious foods is
mostly driven by the rising frequency of chronic and acute ailments among
people of all ages. This is a key element driving the growth of the market for US
Soup market. In addition, the food industry is evolving rapidly and new food
and snack variations with varied flavors, forms and nutritional qualities are
giving the sector additional momentum. In addition, the development of food processing
and preservation technology will help the industry grow. The majority of
consumers now want foods and beverages to adhere to increasingly complex
standards of sustainability, ethics and healthy eating. As per the latest USDA
forecast, in 2022, U.S. consumers would have access to nearly 224.6 pounds of
red meat and poultry on a per capita retail weight basis, a 10.3-pound relative
average increase from the 2012-2021 timeframe. The following will reflect in
higher adoption of soups coupled with non-vegan options. The increase in consumer awareness of the health advantages of
seafood, as well as a change in consumer lifestyle, can be credited to the
growth of the seafood market. Consumers who are not vegetarians are gradually
modifying their lifestyles and adopting pescetarianism.
COVID-19 Induced a Working Culture that Positively Impacted the Overall Market Penetration and Likeliness of Soups.
The popularity of soups may have increased
nutrition consciousness, customers want quick, simple meals and soup definitely
fills that need. As the pandemic worsened last spring and authorities around
the nation closed restaurants' dining rooms and encouraged customers to stay at
home, food makers gained ground as people stocked their pantries and
refrigerators. For instance, Campbell reported a 35% increase in US soup sales
in retail for the three months ending on April 26. Companies are continually
trying to maintain and modernize their offerings by either adding a functional
ingredient into the mix or modifying the usage of remedial herbs. Soups act as
a great catalyst for simple meals and they add a healthier and more convenient
form of expanding product portfolios, highly relying on organic along with the
gluten-free mix. Elongating the plant-based options with organic ingredients
will allow companies to realize relevance and profitability growth.
The Major Players in this Market Include
The major companies in the U.S. Soup Market
include Campbell Soup Company General Mills, Inc, The Kraft Heinz Company, Unilever
plc, Conagra Brands, Inc., Nissin Food Products Co., Ltd., B&G Foods, Inc, Hain
Celestial, Blount Fine Foods and Amy’s Kitchen
In the US, consumer spending on soup products is largely seasonal, with winter months seeing a sharp increase in consumption and summer months saw a decline. For instance, January is recognized as National Soup Month in the US. In addition, women are twice as likely as men to order soup products for lunch in the US, according to Mobile Cuisines. The US population eats more than 10 billion bowls of soup annually.
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