Refrigerated and Frozen Soup Market Trends and Insights 2024
The global Refrigerated and Frozen Soup Market is poised for significant growth. Valued at USD 3.6 billion in 2024, it is expected to witness a robust CAGR of 10.1% over the forecast period, reaching a remarkable USD 7.3 billion by 2034. This growth trajectory reflects increasing consumer demand for convenient, ready-to-eat meal options that cater to busy lifestyles and health-conscious preferences.
Market Trends and Growth Drivers for Refrigerated and Frozen Soup Market
1. Rising Demand for Ready-to-Eat Meals
The growing preference for convenience foods is driving demand for refrigerated and frozen soups. Busy schedules and the need for quick, hassle-free meal options have made frozen soups a preferred choice. These soups offer extended shelf life, require minimal preparation, and cater to a variety of taste preferences.
2. Health and Wellness Focus
Consumers are increasingly prioritizing health and wellness, leading to a surge in demand for soups made from natural, organic, and clean-label ingredients. Products that are low in sodium, rich in vitamins, and fortified with functional ingredients like superfoods and probiotics are experiencing higher sales.
3. Sustainability and Eco-Friendly Packaging
Companies are adopting eco-friendly packaging to align with the growing consumer shift toward sustainability. Compostable, recyclable, and environmentally friendly packaging materials are being used to attract eco-conscious consumers.
4. Technological Advancements and Innovation
Technological innovations in freezing and food preservation are enabling the development of soups that retain their nutritional value and taste. Novel product flavors, such as Thai coconut curry and exotic herb blends, are being introduced to attract diverse consumer segments.
Segment & Category Analysis in Refrigerated and Frozen Soup Market
| Segment | Sub-Segment | Market Share (2024) | CAGR (2024-2034) |
| By Type | Refrigerated Soups | 42% | 9.2% |
| Frozen Soups | 58% | 10.2% | |
| By Application | Supermarkets/Hypermarkets | 46% | 8.6% |
| Foodservice | 22% | 9.4% | |
| Retail | 32% | 9.8% |
Frozen Soup Leads the Market
The frozen soup segment is the largest revenue generator, accounting for 58% of the total market share in 2024. This dominance is attributed to its long shelf life, convenience, and wider range of flavors. Consumers increasingly favor frozen soups as they offer a “heat-and-eat” option that aligns with their fast-paced lifestyles.
Supermarkets/Hypermarkets: A Key Sales Channel
Supermarkets and hypermarkets account for 46% of total market revenue in 2024. These retail channels offer a large variety of soups, including popular and new flavors, under one roof, making them the primary choice for consumers.
Key Growth Regions for Refrigerated and Frozen Soup Market
| Region | Market Size (2024, USD Billion) | CAGR (2024-2034) |
| United States | 1.1 | 9.4% |
| United Kingdom | 0.9 | 10.4% |
| China | 1.2 | 9.9% |
| Japan | 0.7 | 10.8% |
| South Korea | 0.6 | 11.3% |
North America: A Major Revenue Contributor
North America, particularly the United States, is a prominent market, driven by the growing demand for healthy, ready-to-eat meals. With a projected market value of USD 1.1 billion by 2034, the region remains at the forefront of global sales.
Asia-Pacific: Rapid Growth Expected
The Asia-Pacific region, especially China, Japan, and South Korea, is witnessing a substantial surge in demand for frozen soups. Urbanization, changing dietary habits, and the growing popularity of international cuisines are driving this growth.
Market Restraints and Challenges in Refrigerated and Frozen Soup Market
- Consumer Preference for Fresh Soups: While frozen soups offer convenience, a significant segment of consumers prefers fresh soups made from scratch due to perceived health benefits and flavor superiority.
- High Competition from Local Brands: Local players are offering fresh soups at affordable prices, increasing competition in this market.
- Supply Chain Issues: Cold storage logistics and supply chain bottlenecks, especially in developing regions, could hinder the growth of the frozen soup sector.
Market Composition and Competitive Landscape in Refrigerated and Frozen Soup Market
The refrigerated and frozen soup market is highly competitive, with a mix of global giants, regional players, and start-ups.
Top Industry Players
Key Competitive Strategies for Refrigerated and Frozen Soup Market
- New Product Launches: Companies are launching innovative flavors like Thai coconut curry and miso soup to attract consumers.
- Eco-friendly Packaging: Industry leaders are adopting sustainable packaging to reduce plastic waste.
- Partnerships & Mergers: Companies are engaging in collaborations, acquisitions, and partnerships to enhance their global footprint.
- Online Retail Expansion: With the surge in e-commerce, players are selling their products online, using subscription models and offering discounts.
Frequently Asked Questions for Refrigerated and Frozen Soup Market
1. How big is the refrigerated and frozen soup market?
The global market size is USD 3.6 billion in 2024 and is projected to reach USD 7.3 billion by 2034.
2. What is the projected growth rate of the market?
The market is expected to grow at a CAGR of 10.1% from 2024 to 2034.
3. Which type of soup holds the largest market share?
Frozen soups account for the largest share, representing 58% of the total market.
4. Which region will experience the fastest growth?
South Korea is expected to grow at a CAGR of 11.3%, making it one of the fastest-growing regions.
5. What are the major drivers of market growth?
The growth is fueled by the increasing demand for ready-to-eat meals, growing health awareness, and the popularity of clean-label, organic, and vegan soups.
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