The Soup Market | United States

The US soup market is made up of canned or packaged liquid soup, dry soup, dry bouillon, and microwaveable soups. The canned soup sector rules over the soup market, accounting for more than three quarters of value share.

According to analysts at Transparency Market Research, the North American soup market is set to touch revenues of USD 5.7 billion by 2020, up from USD 5.5 billion in 2016.

The US soup market is expected to show flat positive CAGRs in terms of volume as well as value growth at constant 2016 prices during the forecast period, with sales of USD 5.2 billion and a volume of 1.3 million tons in 2021.

Chilled soup is likely to experience significant growth, while most other segments are predicted to record flat or negative figures through 2021. With a 95% market share, the largest category is shelf-stable soup. This segment is expected to see gradual growth during the period.

A duopoly exists in the soup market, with two prominent vendors – Campbell and Unilever – accounting for a major portion of the condensed liquid and dry soup markets. Third-party competition has proven to be a challenge for these big players, comingfrom lower-priced private label products, which have witnessed substantial growth, as well as from smaller producers that have healthier offerings and are increasingly appealing to consumers.

Campbell is focusing on organic soups and digital advertising to counter these challenges. An increase in demand for soups with organic and healthy ingredients that are also flavorful and make minimal use of preservatives is likely to provide plenty of opportunities for growth.

 

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Campbell Soup Corporation

  • Country : United States
  • Turnover : USD 7.90 billion
  • Position : A soup company that offers free soup Fridays and a rich variety of different tantalizing soups for the hungry.

Unilever Bestfoods North America

  • Country : St. Pierre & Miquelon
  • Turnover : €52.71 billion
  • Position : A Dutch-British transnational soup company that launched The Compass in 2009.

General Mills

  • Country : United States
  • Turnover : USD 16. 60 billion
  • Position : Is a global leading food product company specializing in soups and other consumer goods.

ConAgra Foods

  • Country : United States
  • Turnover : USD 11.60 billion
  • Position : Has a wide variety of soups and sells consumer products under various brand names and retail outlets.

Tabatchnick Fine Foods

  • Country : United States
  • Turnover : USD 15.00 million
  • Position : Has a wide variety of handcrafted soups made from the finest natural ingredients.

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