The soup market - Italy

Since 2020, the global soup market has shown significant growth trends and resilience in the face of events such as the COVID-19 pandemic. In 2022, global soup market revenues reached approximately $13.5 billion, with expectations to grow at a CAGR of 4.17% through 2027. Demand for convenient, healthy, ready-to-eat foods like soups has largely driven this market expansion. The Italian soup market, in particular, has demonstrated stability and growth, with revenues in Italy alone projected to rise from €800 million in 2022 to nearly €1.5 billion by 2027. Notably, exports of soups, broths, and related preparations from Italy have consistently exceeded imports, contributing to a surplus trade balance for the country, with exports valued at $76 million in 2022. Key trends in the sector include a push for greater product differentiation, with a rise in sustainable packaging solutions and a growing emphasis on e-commerce as a significant sales channel, expected to overtake the current dominance of supermarkets and physical retail by 2027. Manufacturers such as Unilever (Knorr, Findus), and Orogel lead in turnover, with consumer preferences leaning towards ready-to-eat soups due to their convenience and health benefits.

Navigating the Growing Trend of Ready-to-Eat Soups in Italy

In recent times, the Italian market has exhibited a steady inclination towards ready-to-eat soups, showcasing a significant surge in sales by approximately 28% within a year. This upward trend is reflected in the revenue which amounted to around €800 million in 2022, with prospects of escalation to nearly €1.5 billion by 2027. The ready-to-eat soup sector is buoyed by a compound annual growth rate that hovers around 3.0 percent globally, underpinned by an increasing consciousness towards healthy and convenient dietary choices. Italy's love affair with soup is deeply entrenched in its cuisine, and the remarkable figure of more than 215 million kg sold in 2022 serves as evidence of its prevalent consumer demand. Italian consumers are gearing towards a more health-conscious and balanced diet, with nearly four out of ten Italians prioritizing such a lifestyle, and almost nine out of every ten being cognizant of sustainability when making purchases. These consumer patterns have given rise to a market where differentiation is key, with companies like Findus, Knorr, Buitoni, and Orogel leading in the variety of soup-related products sold. The demand for quick and easy meal solutions like soup, which are generally seen as economical and convenient, is one of the catalysts for the growth of this sector.

Interestingly, despite the increase in energy costs, frozen soup products have persisted in demand, reflecting a 9.5 percent boost in sales, which substantiates the growing preference for frozen vegetables among Italian frozen food products. In anticipation of evolving market needs, the Italian soup industry has witnessed new entrants like Black Elk aiming to capture market share. This reflects a highly competitive and diversified market landscape where consumer preferences propel product innovation, especially towards organic, natural, and gluten-free offerings. Italy stands proudly as the fourth-largest producer of soups and related products in the European context with production values reaching between €130 and €140 million. The soup market, therefore, not only caters to a variety of consumer needs and is characterized by competition but also demonstrates adaptability to consumer health trends and a responsiveness to environmental concerns through sustainable packaging efforts. As suppliers strive to meet these multifaceted demands, it's clear that the future of the Italian soup market continues to simmer with potential for further growth and diversification.

Key Players Shaping the Soup Market Landscape

The soup market has seen significant growth and evolution, with various players contributing to its dynamism and expansion. The following companies have notably positioned themselves within this competitive arena, each bringing their own unique offerings and strategies to satisfy consumer demands for delicious, convenient, and nutritious soup options.

• Unilever (Knorr, Findus): Unilever stands out as a heavyweight in the soup sector, offering a diverse range of products under well-recognized brands like Knorr and Findus. Knorr, in particular, is famous for its dehydrated soup mixes, stock cubes, and ready-to-eat soups, catering to a wide audience with its extensive flavor varieties. Findus, another brand in their portfolio, is well-regarded for its frozen soups and meals, appealing to consumers who seek convenience without compromising on taste and quality.
• Orogel: Orogel is a cooperative in Italy that specializes in frozen products, with a strong emphasis on offering healthy and flavorful soups made from high-quality ingredients. Their range includes traditional Italian soups as well as more innovative options, ensuring that they meet the evolving tastes and dietary preferences of their customers. Orogel has a particularly strong presence in the frozen soup segment, which remains popular among Italian consumers.
• Carrefour: As both a manufacturer and distributor, Carrefour provides a wide array of own-brand soup products across its extensive supermarket network. Their offerings span from traditional and exotic soups to more health-conscious options such as organic and low-calorie varieties, ensuring that they cater to different market segments and consumer needs.
• Esselunga: Esselunga is another influential player, providing a private label range of soups under its brand in its supermarket chain. Known for its focus on quality and customer satisfaction, Esselunga offers various soup options, including premade refrigerated soups and shelf-stable versions, allowing consumers to enjoy hearty meals with the ease of preparation.
• Conad: As a major player in the Italian retail market, Conad offers a selection of soups that appeal to a broad customer base. Their product line includes everything from classic minestrone to more contemporary soup blends that feature a fusion of flavors. Conad's presence gives them the ability to cater to a wide range of preferences and to promote healthier eating habits through their convenient soup options.
• Coop: Coop, one of the biggest cooperatives in Italy, provides consumers with a vast selection of soups. 

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 17/04/2023

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