The Dried Soup Market size is forecast to reach $5.3 billion by 2026, growing at a CAGR of 6.4% during the forecast period 2021-2026. Dried soup (mixes) is an instant soup mix that consists of meat, grains, legumes, and dehydrated vegetables among others. Ingredients in dried soup are dehydrated using air drying and freeze drying process and it also doesn’t loses the nutritious value of the food. Dried soup is more nutritious than canned soups as it is more nutritious than canned soups. It consists of huge amount of preservatives and sodium and is considered a convenience food and is popular among working population. Some of the dried soups include bouillon cubes, split peas soup, and mushroom soup powder among others. An increasing number of vegan consumers and increasing preference of the consumers for convenience foods is the major factor driving the growth of the market. Increasing awareness regarding the nutritional benefits and increasing shelf life of the products is set to further enhance the overall market developments of the Dried Soup (mixes) Market for the period 2021-2026.
Dried Soup (Mixes) Market Segment Analysis – By Product
Dehydrated Soup held the largest share in the Dried Soup (Mixes) Market in 2020 and is estimated to grow at a CAGR 6.9% during the forecast period 2021-2026. This is attributed to the various health benefits that are associated with the dehydrated soup. Increasing inclination of working population towards the healthy food that includes easy to make and eat products along with the introduction of new products that have additional ingredients and flavors are also increasing the growth of the segment. Dehydrated soup contains high content of nutrition, minerals, vitamins, and proteins that are highly nutritious. Dehydrated Soup are estimated to register the higher CAGR over the period 2021-2026.
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Dried Soup (Mixes) Market Segment Analysis – By Type
Vegetarian Soup held the largest share in the Dried Soup (Mixes) Market in 2020 and is estimated to grow at a CAGR 7.0% during the forecast period 2021-2026. This is owing to the easy availability, and increasing demand for meat alternative products. There is an increasing demand for vegetarian soup owing to the increasing consumer acceptance level, and increasing consumption as meal alternative. Increasing consumer demand and various alternative to animal based soup are also increasing the growth of the segment. Vegetarian Soup are estimated to register the higher CAGR over the period 2021-2026.
Dried Soup (Mixes) Market Segment Analysis – By Geography
North America dominated the Dried Soup (Mixes) Market with a major share of 35.3% in 2020. This is attributed to the increasing government initiatives to enhance consumer knowledge towards new products of vegetarian soups, and increasing demand for new & unique taste. Increasing consumer inclination towards the healthy diet, and increasing number of working population is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the ease of resource availability. Increasing awareness of the animal welfare, ban on various animal based products, and increasing concerns pertaining to the animal based food products is increasing the growth of the market in this region.
Dried Soup (Mixes) Market Drivers
Increasing Shift of the Consumers towards the Veganism
Increasing shift of the consumers towards the veganism is increasing the growth of the Dried Soup (Mixes) Market. This is owing to the increasing awareness of the consumers regarding the health, social impact, and sustainability. Dried soup (mixes) are rich in minerals, vitamins, nutrients, and proteins. Increasing shift of the consumers towards the veganism owing to the animal welfare, and personal health. Increasing demand for convenience food and increasing awareness regarding the health benefits of soups are also increasing the growth of the market. Thus, increasing the growth of the Dried Soup (Mixes) Market during the forecast period 2021-2026.
Increasing Health Conscious Consumers
Increasing health conscious consumers is increasing the growth of the market. This is owing to the nutritional benefits of the dried soup (mixes) that have encouraged the consumers to opt such products. Dried soup (mixes) are convenient to grab on – the - go, are nutrient dense that provides vitamins, minerals, and energy. Increasing number of working population has also led in the consumption of dried soups. Thus, increasing the growth of the Dried Soup (Mixes) Market during the forecast period 2021-2026.
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Dried Soup (Mixes) Market Challenges
High Competition and Stringent Regulations
Some of the factors that are set to impede the growth of the Dried Soup (Mixes) Market are high competition and stringent regulations. High content of salt and corn in dried products increases the level of blood pressure and blood sugar that hampers the health of the individual. Thus, hindering the growth of the market.
Dried Soup (Mixes) Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Dried Soup (Mixes) Market. In 2020, the Dried Soup (Mixes) Market share is consolidated by the top ten players present in the market. The Dried Soup (Mixes) Market, top 10 companies are Associated British Foods PLC, Baxters Food Group Limited, Bear Creek Country Kitchens LLC, Campbell Soup Company, and Nestle among others.
Key Takeaways
North America dominated the Dried Soup (Mixes) Market in 2020 owing to the increasing usage of dry soup (mixes) by the working population and increasing shift towards the natural food substitutes. The Dried Soup (Mixes) Market scope for different regions will be provided in the final report.
Increasing usage of nutritional supplements and increasing consumer inclination towards healthy diets are likely to aid the market growth of the Dried Soup (Mixes) Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Dried Soup (Mixes) Market report.
High competition and stringent regulations is poised to create the hurdles for the Dried Soup (Mixes) Market.
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