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Instant Soup Market

Instant Soup Market (Nature: Organic and Conventional; Source: Animal Sourced and Plant Sourced; Form: Dry Instant Soup and Liquid Instant Soup; End Use: Foodservice Industry and Retail/Household; and Distribution Channel: Business to Business and Business to Consumer) - Latin America Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Coronavirus Crisis Boosts Demand for Packaged Instant Soup Products

Due to the closure of restaurants, owing to the COVID-19 pandemic, the demand for frozen pizzas and other packaged food products such as instant soup and noodles has created incremental opportunities for manufacturers. Since an increasing number of consumers has become accustomed to work from home, such trends are translating into sales opportunities for manufacturers in the Latin America instant soup market, as consumers are experimenting with new flavors through home cooking.

Thus, rise in the consumption of packaged food has driven manufacturers in the Latin America instant soup market to work at breakneck speeds to meet consumer demands. However, instant soups are under scrutiny for using unknown preservatives and additives that might affect immunity levels during the pandemic. Homemade soups are being associated with immunity boosting properties, weight loss, and improvement in heart health. In order to meet niche consumer demands, manufacturers are offering instant soups with organic ingredients that appeal to health-conscious consumers.

latin america instant soup market segmentation

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Certified Organic Soup Mixes Overcome Issues of Preservatives, Artificial Flavors

The Latin America instant soup market is projected to reach ~US$ 550 Mn by 2031. However, instant soup is notorious for remaining in the gut for a longer period of time and can cause issues of bloating, gas, and even abdomen pain. Thus, manufacturers are increasing their production for certified organic soup mixes with minimal preservatives and no artificial flavors in healthy broccoli-spinach, almond-coconut, and tomato-beetroot variants.

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Best-practice Lines for Soups Help Manufacturers Assure Food Safety, Quality

Soup production is a rapidly developing and innovative category, which is witnessing a rise of value-added products filled with homemade taste offering ready-to-eat convenience. Producers in the Latin America instant soup market are gaining proficiency in processing technologies to offer high-quality products that bring culinary tradition to the dinner table for consumers. They are increasing R&D for heat treatment of particulate food in instant soups to assure food safety, reduce operational & maintenance costs, and minimize environmental footprint.

The growing sophistication in products has compelled companies in the Latin America instant soup market to adopt specialized food production and technology expertise. For instance, Tetra Pak - a Swedish-Swiss multinational food packaging and processing company, which has extended its business arms in Brazil, is acquiring popularity for best-practice lines in soups that help clients guarantee performance and optimize production.

New Drying Procedures Improve Final Quality of Rice-based Instant Soups

The drying process has a great impact on the quality and shelf life of dehydrated soups. Manufacturers in the Latin America instant soup market are implementing new drying procedures that improve final quality of the product. They are increasing efforts to predict the moisture content during storage under a variety of conditions for reducing the cost and the cycle time of product development.

Companies in the Latin America instant soup market are gaining a strong research base to study the moisture sorption characteristics of rice-based instant soups to advance in drying processes, and march toward more economic and energy reduced treatments.

Rise in Production of Plant-based RTE Soups to Maintain Full Texture of Legumes

Producers in the Latin America instant soup market are boosting their output capacities of ready-to-eat (RTE) grains and pulses instant soups to fulfill the demand for quick and nutritious meal on the go. Diet meal startups are unlocking growth opportunities by maintaining full flavor and texture of grains & legumes. They are increasing the availability of plant-based RTE soups to save time and labor for consumers.

Lentils and quinoa are being used by manufacturers in the Latin America instant soup market to develop plant-based RTE soups.

latin america instant soup market infographic

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Analysts’ Viewpoint

Due to the burgeoning demand for packaged food, consumers are opting for organic ingredients soup mixes to maintain optimum health during the COVID-19 pandemic. Since RTE soups are perceived as cheap, artificial, and unhealthy, manufacturers in the Latin America instant soup market are innovating in plant-based RTE soups involving legumes and grains to meet the demands of health-conscious consumers. Advanced freeze-drying and pre-drying processes help to keep pulses and grains in instant soups fresh and prevent legumes from looking overcooked or smashed. Best-practice lines for soups, such as continuous particulate lines, dehydrated lines, and continuous smooth lines, help to increase the availability of natural products with as good as low to no preservatives.

Latin America Instant Soup Market: Overview

  • In the recent market study on the Latin America instant soup market, Transparency Market Research finds that the market value for 2021 is estimated to be ~US$ 400 Mn. The market is expected to reach ~US$ 550 Mn by 2031, at a CAGR of 3.6% during the forecast period.
  • Instant soup is gaining traction attributed to rapid growth of urban population in Latin America. Consumers with hectic working schedule and long working hours are constantly seeking healthy and instantly prepared products.

Latin America Instant Soup Market: Key Takeaways

  • Based on form, the dry instant soup segment is projected to share higher market volume as well as value by the end of 2031
  • In terms of application, consumption of instant soups in retail/household is higher compared to the foodservice industry. The retail/household segment holds around 81.3% share of the Latin American instant soup market.
  • In terms of nature, the conventional segment is projected to share a high market value of ~US$ 370 Mn in 2021. With rising awareness, the demand for organic instant soup market is forecast to increase at a CAGR of 4.8%
  • In 2019, supermarkets and hypermarkets had the highest sales share of around 46.1%. The trend is projected to continue during the forecast period. Walmart, Tesco, 7Eleven, Apar, and Aldi are among the biggest supermarket and hypermarket chains in the world. In order to draw buyers, these industry titans are expanding their product offerings.

Latin America Instant Soup Market: Key Trends

  • Rising number of consumers focusing on healthy diet to boost sales of instant soup

The trend of wellbeing has a positive effect on instant soup sales, as nutritious ingredients such as green veggies as well as the inclusion of healthy lean proteins meat, are increasingly used in soup products, along with various flavors’ suiting consumers' taste buds. Increased product variety, consumption of health and wellness items, and aggressive marketing by market players are expected to drive the instant soup market in the upcoming years. Furthermore, the demand for healthy food items is projected to fuel demand for organic instant soup in the region.

Furthermore, due to the growing demand for vegan and vegetarian snack products in convenient formats, consumers are increasingly favoring instant soup as a snack option. As a result, the instant soup market is being driven by the convenience and thus, companies are selling soups with highly nutritious ingredients. In the near future, however, unhealthy alternatives, poor quality, and excess use of additives to increase the shelf life of soup as well as a preference for a healthier lifestyle, are likely to restrict market development.

  • Increasing per capita spending impacting sales of instant soup

In most parts of the world, an increase in per capita income is another factor driving the net sales of ready meals. However, rising safety concerns about ready meals can have an effect on market development. As a result, manufacturers are concentrating on introducing more nutritious and safe goods to reclaim the market. Due to the shift in the customer demand for vegan food items, vegetarian ready-to-eat soup now accounts for nearly a third of the overall instant soup industry. During the forecast period, the vegetarian soup segment is projected to generate maximum revenue at a higher growth rate.

Dried soup products dominated the market over other forms of convenience soups due to their high nutritional, vitamin, mineral, and protein content. Packaged soups are often preferred over soups served in restaurants and grocery stores due to the ease of access and the long shelf life of containers.

During the coronavirus pandemic, ready-to-eat food became one of the few sectors that saw an increase in demand. Ready-to-cook food items have been flying off the shelves in recent months, with various countries on lockdown and most people working from home.

Latin America Instant Soup Market: Key Players

  • Some of the key players engaged in manufacturing of instant soup are
    • Campbell Soup Company
    • Nestlé
    • Unilever
    • General Mills Inc.
    • MONTE CUDINE
    • B&G Foods,Inc.
    • Hain Daniels Group
    • Baxters Food Group Ltd
    • Productos Alimenticios La Moderna SA de CV among others.
  • In order to gain a greater market share, companies are focused on new product designs based on current customer expectations for taste and health benefits.
  • Conagra Brands, Inc. offers healthy soup with vitamins under the brand ‘Healthy Choice’, with flavors such as chicken and dumplings and chicken tortilla
  • In February 2020, Unilever brand Knorr launched three different flavored vegan soups in the U.K., where products were part of “cheat on meat” campaign carried out by the company

Latin America Instant Soup Market – Segmentation

TMR’s study on the instant soup market offers information divided into important segments - nature, form, source, end-use, distribution channel, and country. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Nature
  • Organic
  • Conventional
Source
  • Animal Sourced
    • Chicken
    • Beef
    • Others (Lamb, Fish, and Prawn
  • Plant Sourced
    • Tomato
    • Mushroom
    • Corn
    • Others
Form
  • Dry Instant Soup
  • Liquid Instant Soup
End Use
  • Foodservice Industry
  • Retail/Household
Distribution Channel
  • Business to Business
  • Business to Consumer
    • Hypermarkets/Supermarkets
    • Specialty Stores
    • Convenience Stores
    • Online Retail
Country
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
Instant Soup Market

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1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Key Market Trends

    3.1. Opportunities in the Latin America Food & Beverage Industry

    3.2. Product Innovation and Development Trends

    3.3. Key Trends Impacting the Market

4. Key Success Factors

    4.1. Key Success Factors 

5. Latin America Instant Soup Market Demand Analysis 2016-2020 and Forecast, 2021-2031

    5.1. Historical Market Volume (Tons) Analysis, 2016-2020

    5.2. Current and Future Market Volume (Tons) Projections, 2021-2031

        5.2.1. Y-o-Y Growth Trend Analysis

        5.2.2. Absolute $ Opportunity Analysis

6. Latin America Instant Soup Market - Pricing Analysis

    6.1. Pricing Analysis By Nature – Latin America

7. Latin America Instant Soup Market Demand Analysis 2016-2020 and Forecast, 2021-2031

    7.1. Historical Market Volume (Tons) & Value (US$ Mn) Analysis, 2016-2020

    7.2. Current and Future Market Volume (Tons) & Value (US$ Mn) Projections, 2021-2031

        7.2.1. Y-o-Y Growth Trend Analysis

        7.2.2. Absolute $ Opportunity Analysis

8. Market Background

    8.1. Macro-Economic Factors

        8.1.1. Global GDP Growth Outlook

        8.1.2. Global Industry Value Added

        8.1.3. Global Urbanization Growth Outlook

        8.1.4. Global Food Security Index

        8.1.5. Global Rank – Ease of Doing Business

        8.1.6. Global Rank – Trading Across Borders

        8.1.7. Retailers 

    8.2. COVID-19 Impact on Supply Chain 

    8.3. Global Food & Beverage Industry Outlook

    8.4. Latin America Food & Beverage Industry Outlook

    8.5. Value Chain

    8.6. Key Regulations

    8.7. Market Dynamics

        8.7.1. Drivers

        8.7.2. Restrain

        8.7.3. Opportunities

    8.8. Forecast Factor-Relevance & Impact

9. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Nature 

    9.1. Introduction / Key Findings

    9.2. Historical Market Size (US$ Mn) and Volume Analysis By Nature, 2015 - 2019

    9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Nature, 2020 - 2030

        9.3.1. Organic

        9.3.2. Conventional

    9.4. Market Attractiveness Analysis By Nature

10. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Form

    10.1. Introduction / Key Findings

    10.2. Historical Market Size (US$ Mn) and Volume Analysis By Form, 2015 - 2019

    10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Form, 2020 - 2030

        10.3.1. Dry 

        10.3.2. Liquid

    10.4. Market Attractiveness Analysis By Form

11. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Source

    11.1. Introduction / Key Findings

    11.2. Historical Market Size (US$ Mn) and Volume Analysis By Source, 2015 - 2019

    11.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Source, 2020 - 2030

        11.3.1. Animal-based

            11.3.1.1. Chicken

            11.3.1.2. Beef

            11.3.1.3. Other

        11.3.2. Plant-based

            11.3.2.1. Tomato

            11.3.2.2. Mushroom

            11.3.2.3. Corn

            11.3.2.4. Other

    11.4. Market Attractiveness Analysis By Source

12. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By End Use

    12.1. Introduction / Key Findings

    12.2. Historical Market Size (US$ Mn) and Volume Analysis By End Use, 2015 - 2019

    12.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By End Use, 2020 - 2030

        12.3.1. Foodservice Industry

        12.3.2. Retail/Household

    12.4. Market Attractiveness Analysis By End Use

13. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Distribution Channel

    13.1. Introduction / Key Findings

    13.2. Historical Market Size (US$ Mn) and Volume Analysis By Distribution Channel, 2015 - 2019

    13.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Distribution Channel, 2020 - 2030

        13.3.1. Business to Business

        13.3.2. Business to Consumer

            13.3.2.1. Hypermarkets/Supermarkets

            13.3.2.2. Specialty Stores

            13.3.2.3. Convenience Stores

            13.3.2.4. Online Retail 

    13.4. Market Attractiveness Analysis By Distribution Channel

14. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Country

    14.1. Introduction / Key Findings

    14.2. Historical Market Size (US$ Mn) and Volume Analysis By Country, 2015 - 2019

    14.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Country, 2020 - 2030

        14.3.1. Brazil

        14.3.2. Mexico

        14.3.3. Argentina

        14.3.4. Rest of Latin America 

    14.4. Market Attractiveness Analysis By Distribution Channel

15. Market Structure Analysis

    15.1. Market Analysis By Tier of Companies 

    15.2. Market Concentration

16. Competition Analysis

    16.1. Competition Dashboard

    16.2. Competition Benchmarking

    16.3. Competition Deep Dive 

        16.3.1. Campbell Soup Company

            16.3.1.1. Overview

            16.3.1.2. Product Portfolio

            16.3.1.3. Production Footprint

            16.3.1.4. Strategy Overview

        16.3.2. Nestlé

            16.3.2.1. Overview

            16.3.2.2. Product Portfolio

            16.3.2.3. Production Footprint

            16.3.2.4. Strategy Overview

        16.3.3. Unilever

            16.3.3.1. Overview

            16.3.3.2. Product Portfolio

            16.3.3.3. Production Footprint

            16.3.3.4. Strategy Overview

        16.3.4. General Mills Inc.

            16.3.4.1. Overview

            16.3.4.2. Product Portfolio

            16.3.4.3. Production Footprint

            16.3.4.4. Strategy Overview

        16.3.5. Conagra Brands, Inc.

            16.3.5.1. Overview

            16.3.5.2. Product Portfolio

            16.3.5.3. Production Footprint

            16.3.5.4. Strategy Overview

        16.3.6. B&G Foods, Inc.

            16.3.6.1. Overview

            16.3.6.2. Product Portfolio

            16.3.6.3. Production Footprint

            16.3.6.4. Strategy Overview

        16.3.7. Productos Alimenticios La Moderna SA de CV

            16.3.7.1. Overview

            16.3.7.2. Product Portfolio

            16.3.7.3. Production Footprint

            16.3.7.4. Strategy Overview

        16.3.8. Baxters Food Group Ltd.

            16.3.8.1. Overview

            16.3.8.2. Product Portfolio

            16.3.8.3. Production Footprint

            16.3.8.4. Strategy Overview

        16.3.9. MONTE CUDINE

            16.3.9.1. Overview

            16.3.9.2. Product Portfolio

            16.3.9.3. Production Footprint

            16.3.9.4. Strategy Overview

        16.3.10. Industrias Iberia CA

            16.3.10.1. Overview

            16.3.10.2. Product Portfolio

            16.3.10.3. Production Footprint

            16.3.10.4. Strategy Overview

        16.3.11. Amy's Kitchen, Inc.

            16.3.11.1. Overview

            16.3.11.2. Product Portfolio

            16.3.11.3. Production Footprint

            16.3.11.4. Strategy Overview

        16.3.12. Cafés La Virginia S.A. 

            16.3.12.1. Overview

            16.3.12.2. Product Portfolio

            16.3.12.3. Production Footprint

            16.3.12.4. Strategy Overview

        16.3.13. Hain Daniels Group

            16.3.13.1. Overview

            16.3.13.2. Product Portfolio

            16.3.13.3. Production Footprint

            16.3.13.4. Strategy Overview

        16.3.14. Nissin Foods

            16.3.14.1. Overview

            16.3.14.2. Product Portfolio

            16.3.14.3. Production Footprint

            16.3.14.4. Strategy Overview

        16.3.15. Juanita's Foods

            16.3.15.1. Overview

            16.3.15.2. Product Portfolio

            16.3.15.3. Production Footprint

            16.3.15.4. Strategy Overview

17. Assumptions and Acronyms Used

18. Research Methodology

List of Tables:-

Table 01: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Nature, 2015-2030

Table 02: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Nature, 2015-2030

Table 03: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Form, 2015-2030

Table 04: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Form, 2015-2030

Table 05: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Source, 2015-2030

Table 06: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Source, 2015-2030

Table 07: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Animal-based Segment, 2015-2030

Table 08: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Animal-based, 2015-2030

Table 09: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Plant-based Segment, 2015-2030

Table 10: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Plant-based Segment, 2015-2030

Table 11: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by End Use, 2015-2030

Table 12: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by End Use, 2015-2030

Table 13: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Sales Channel, 2015-2030

Table 14: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Sales Channel, 2015-2030

Table 15: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Business to Consumer Segment, 2015-2030

Table 16: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Business to Consumer Segment, 2015-2030

Table 17: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Country, 2015–2030

Table 18: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Country, 2015–2030

List of Figure:-

Figure 01: Latin America Instant Soup Market Value (US$ Mn) Forecast, 2021-2031

Figure 02: Latin America Instant Soup Market Volume (Tons) Forecast, 2021-2031

Figure 03: Latin America Instant Soup Market Value Share Analysis by Nature, 2021 E

Figure 04: Latin America Instant Soup Market Y-o-Y Growth Rate by Nature, 2021-2031

Figure 05: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Nature, 2021-2031

Figure 06: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Nature, 2021-2031

Figure 07: Latin America Instant Soup Market Value Share Analysis by Form, 2021 E

Figure 08: Latin America Instant Soup Market Y-o-Y Growth Rate by Form, 2021-2031

Figure 09: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Form, 2021-2031

Figure 10: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Form, 2021-2031

Figure 11: Latin America Instant Soup Market Value Share Analysis by Source, 2021 E

Figure 12: Latin America Instant Soup Market Y-o-Y Growth Rate by Source, 2021-2031

Figure 13: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Source, 2021-2031

Figure 14: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Source, 2021-2031

Figure 15: Latin America Instant Soup Market Value Share Analysis by End Use, 2021 E

Figure 16: Latin America Instant Soup Market Y-o-Y Growth Rate by End Use, 2021-2031

Figure 17: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by End Use, 2021-2031

Figure 18: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by End Use, 2021-2031

Figure 19: Latin America Instant Soup Market Value Share Analysis by Sales Channel, 2021 E

Figure 20: Latin America Instant Soup Market Y-o-Y Growth Rate by Sales Channel, 2021-2031

Figure 21: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Sales Channel, 2021-2031

Figure 22: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Sales Channel, 2021-2031

Figure 23: Latin America Instant Soup Market Value Share Analysis by Country, 2021 E

Figure 24: Latin America Instant Soup Market Y-o-Y Growth Rate by Country, 2021-2031

Figure 25: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Country, 2021-2031

Figure 26: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Country, 2021-2031

Figure 27: Latin America Instant Soup Market Attractiveness Analysis by Country, 2021-2031

Figure 28: Latin America Instant Soup Market Attractiveness Analysis by Nature, 2021-2031

Figure 29: Latin America Instant Soup Market Attractiveness Analysis by Form, 2021-2031

Figure 30: Latin America Instant Soup Market Attractiveness Analysis by Source, 2021-2031

Figure 31: Latin America Instant Soup Market Attractiveness Analysis by End Use, 2021-2031

Figure 32: Latin America Instant Soup Market Attractiveness Analysis by Sales Channel, 2021-2031

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