The African soup market is expected to grow at a CAGR of 3.1% over the forecast period to reach USD 2162.8 million by 2021. South Africa is the major market in Africa. Unilever dominated the South African market with a share of 52% in 2015.
The rising health awareness and growing demand for convenience foods are the major factors driving the growth of the soup market in Africa. The supply chain management is a major restraint to the growth of this market. Chilled soups require an efficient cold chain supply with timely delivery, thus becoming more expensive than other soups. Health concerns in countries like South Africa also restrain the market. Canned soups are not quite popular in Africa, as people prefer flexible packaging.
The African soup market has been segmented by form into liquid, dehydrated, instant, chilled, frozen, and UHT. By sales, the market is segmented into canned and dried soup. The demand for dried soup is more than that of canned soup, due to health concerns about consuming canned soup with all the added preservatives.
The African soup market is also segmented by distribution channel into supermarkets/hypermarkets, convenience stores, online, direct selling and others. Of these, supermarkets/hypermarkets contribute the highest revenue.
The African soup market has been geographically segmented into South Africa and others. The South African demand for soup is expected to grow at a slow pace. The dried soup segment has the largest volume share of about 80% in South Africa. However, the chilled soup segment is the fastest growing and flexible packaging dominates this market.
Unilever dominated the South African market in 2015, with a share of 52%. It was followed by Mars Africa, with a market share of 16%. Private brands are gradually increasing their market share. Major companies are launching campaigns in Africa to increase the awareness of the health benefits of soup. The vendors compete for innovation, pricing, and distribution.
Some of the major players in the market include:
- Market analysis for the Africa soup market, with region specific assessments and competition analysis on global and regional scales.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect the market on both global and regional scales.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- Insights on the major countries/regions where this industry is growing and identifying the regions which are still untapped.
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modeling
2.4.4 Expert Validation
3. Key Findings of the Study
4. Market Dynamics
4.1.1 Rise in Disposable Income
4.1.2 Increase in Demand for Convenience Food Products
4.1.3 Increase in Awareness of the Health Benefits
4.2.1 High Production Cost & Supply Chain Problems
4.2.2 Health Concerns
4.3.1 New Product Launches
4.3.2 Increasing Demand for Chilled Soup
4.3.3 Innovation in Packaging
4.4 Porter Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Form
5.2 By Sales
5.3 By Distribution Channel
5.3.1 Supermarkets/ Hypermarkets
5.3.2 Convenience Stores
5.3.3 Grocery Stores
5.3.4 Direct Selling
5.4 By Geography
184.108.40.206 South Africa
6. Competitive Landscape
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles
7.1 B&G Foods
7.2 Baxters Food Group
7.3 Campbell Soup
7.4 ConAgra Foods
7.5 Frontier Soups
7.6 General Mills
7.7 Kraft Heinz
7.11 Nissin Foods
7.12 Ottogi Foods
7.14 Premier Foods
7.16 Toyo Suisan