After the disruption of the pandemic and spiking inflation, the soup category has settled back into its long-term pattern of slow growth. Minimal gains for the category as a whole, however, mask widely divergent trends at the segment level. Solid gains for dry soup, broth/stock, and refrigerated/frozen soup are offsetting continued declines for traditional canned soups.
US Soup Market Analysis – Current Landscape
Mintel’s soup market research identifies that slow growth for soup overall masks the many opportunities for growth within the large and varied category. For example, soup can facilitate home cooking and cuisine exploration, inspire healthy eating in a variety of ways, extend into new seasons, and of course fulfill its traditional role as comfort food.
There’s also an opportunity for brands that can overcome the general perception that soup is too processed by moving a little closer to the standard of homemade.
US Soup Market Statistics
- Soup Market Trends: Soup remains primarily a solo dish, most likely to be eaten by itself by 60% of soup eaters.
Soup Market Research – What’s Inside?
- Types of soup purchased in the US.
- When and how soup is consumed.
- Key purchase factors in the US soup market.
- Attributes associated with different types of soup.
- Consumer interest in various soup concepts.
- Consumer attitudes toward soup.
Market Definitions
For the purposes of this Report, Mintel has used the following definitions:
- RTS wet soup – canned soup that does not require additional ingredients
- Condensed wet soup – soup that can be used as-is in recipes or needs to have water or milk added to use as traditional soup
- Dry soup mixes – dehydrated and require the addition of water to cook. Most require simmering, although some are instant and need only be stirred. Includes bouillon and ramen noodle soup mixes
- Ready-to-serve broth – flavored water with some form of meat, fish or vegetable used as a base for soups and sauces
- Refrigerated soup – soup that must be refrigerated to maintain freshness and heated to serve, but requires no added ingredients
- Frozen soup – soup that requires thawing and heating, but no added ingredients
Fresh soups prepared and packaged in-store and packaged soups sold in foodservice outlets are excluded from the Market Size in this Report.
Meet the Expert Behind the Analysis
Our soup market analysis shows that while growth has slowed, this large and diverse category offers opportunities for brands that emphasize quality and tap into interest in the exploration of various cuisines.
John Owen, Associate Director – Food and Retail
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EXECUTIVE SUMMARY
- What you need to know
- Market size & forecast
- Market predictions
- What consumers want & why
- Opportunities
- Flavor exploration: familiarity with a twist
- Graph 1: attitudes toward soup – any agree, 2024
- Address processing concerns
- Graph 2: attitudes toward soup – any agree, by age, 2024
- Align with home cooking
- Graph 3: soup attribute associations, 2024
- Leverage functional benefits to expand occasions
- Graph 4: reasons for snacking, 2023
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MARKET DYNAMICS
- Market context
- Market drivers
- Consumers remain uneasy about their finances, motivating many to look for ways to save on food
- Graph 5: assessment of personal financial situation, 2022-24
- Inflation easing faster on food at home than on foodservice
- Graph 6: percentage of total food spending, at home vs away from home 2020-24
- Cooking frequency and enthusiasm are on the rise, creating more opportunities for soup to be a facilitator
- Graph 7: cooking frequency, 2021-24
- Cooking frequency and enthusiasm are on the rise, creating more opportunities for soup to be a facilitator
- Graph 8: attitude towards cooking, 2020-2024
- Market size and forecast
- Soup settles back into slow growth pattern
- Retail sales and forecast of soup
- Market segmentation
- After disruption, segments return to long-term trends
- Retail sales of soup, by segment
- Graph 9: total retail sales of soup, by segment, at current prices, 2019-24
- Retail sales of soup, by segment
- Market share/brand share
- Campbell’s maintains lead as smaller, more premium competitors gain momentum
- Sales of soup, by company
- Acquisitions help Campbell’s maintain its position as the leading RTS soup company
- Sales and share of ready-to-serve wet soup
- Campbell’s defines condensed soup
- Sales and share of condensed wet soup
- Bouillon lifts Knorr
- Sales and share of dry soup
- Small premium brands ride wave of interest in bone broth to drive growth, gain share
- Sales and share of wet broth/stock
- Panera continues to gain share and drive growth
- Sales and share of refrigerated/frozen soup
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CONSUMER INSIGHTS
- Consumer fast facts
- Soup purchase
- Soup purchase incidence overall is nearly universal, but individual types have room to grow
- Graph 10: soup purchase, 2024
- Younger adults gravitate to fresher varieties
- Graph 11: soup purchase, by age, 2024
- Soup behavior
- Pairings and drinkable soup can help drive use among younger adults
- Graph 12: soup behavior, by age, 2024
- Soup occasions
- Beyond lunch: opportunity to drive soup usage across more occasions
- Graph 13: soup occasions, 2024
- New soup occasions can cater to interest in cuisine exploration
- Graph 14: soup occasions, by age, 2024
- Soup purchase factors
- Great taste experience is a must-have
- Graph 15: soup purchase factors, 2024
- Protein and functional claims could strengthen soup’s health image among younger soup eaters
- Graph 16: soup purchase factors, by age, 2024
- Soup attribute associations
- Homemade remains the standard, underscoring the opportunity for packaged soup to facilitate home cooking
- Graph 17: soup attribute associations, 2024
- Interest in soup concepts
- Beyond comfort: soup can meet a broad range of interests and needs
- Graph 18: interest in soup concepts, 2024
- Combining concepts could be key to capturing more occasions especially among younger soup eaters
- Graph 19: interest in soup concepts, by age, 2024
- Attitudes toward soup
- Soup can serve as a platform for cuisine exploration
- Graph 20: attitudes toward soup – any agree, by age, 2024
- Bone broth adds element of health to soup aisle, but soup brands must overcome processing perception
- Graph 21: attitudes toward soup – any agree, by age, 2024
- A value perception with room for premiumization
- Graph 22: attitudes toward soup, by personal financial status, 2024
- An opportunity to embrace and build on comfort
- Graph 23: attitudes toward soup – any agree, by age, 2024
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INNOVATION AND MARKETING STRATEGIES
- Launch activity and innovation
- Glass gains momentum in the soup aisle
- Graph 24: glass packaging share of soup launches, 2018-24
- Glass gains momentum in the soup aisle
- Portable and more sustainable
- Unexpected flavor innovations amplify soup’s comfort-food image
- Marketing and advertising
- Kettle & Fire Bone Broth combines versatility and functional benefits
- Knorr takes on fast food
- Borealis Foods brings plant-based protein and Gordon Ramsay to ramen
- Ready-to-serve soup as a platform for retailer differentiation
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APPENDIX
- Market definition
- Consumer research questions
- Consumer research methodology
- Generations
- Abbreviations and terms
- Forecast methodology
- Forecast fan chart methodology
- The market
- Sales and forecast of soup at inflation-adjusted prices
- Sales and forecast of ready-to-serve wet soup at current prices
- Sales and forecast of ready-to-serve soup at inflation-adjusted prices
- Sales and forecast of condensed wet soup at current prices
- Sales and forecast of condensed wet soup at inflation-adjusted prices
- Sales and forecast of dry soup at current prices
- Sales and forecast of dry soup at inflation-adjusted prices
- Sales and forecast of wet broth/stock at current prices
- Sales and forecast of wet broth/stock at inflation-adjusted prices
- Sales and forecast of refrigerated fresh soup/frozen soup at current prices
- Sales and forecast of refrigerated fresh soup/frozen soup at inflation-adjusted prices
- Sales of soup by channel
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