Competitive Landscape of Soup Market Recent Developments, Company Strategies, Sustainability Benchmarking, Product Launches, Key Persons, and Revenue Forecasts

The soup industry is expected to expand from USD 19.48 billion in 2024 to USD 25.96 billion by 2033, with a compound annual growth rate (CAGR) of 3.24% during the period of 2025-2033. A number of factors are responsible for this growth, such as a change in consumer inclination towards ready-to-eat (RTE) snacks, a growing demand for soups using clean ingredients and contained in reusable and sustainable packaging, and a growing number of people embracing vegan and vegetarian lifestyles.

Soup is a liquid food usually prepared by mixing ingredients such as vegetables, meat, grains, and seasonings with water or stock. It is a comforting and useful food consumed in many parts of the world. Soups are divided into two general categories: clear soups, such as broth and consomme, and thick soups, including chowders and bisques.

The applications of soup are varied. It is a beginning course in meals, adding warmth and hospitality to the meal experience. Soup can be a full meal when thickening ingredients are introduced, offering a healthy choice for someone looking to be balanced. It is also a great means by which to consume leftover vegetables and proteins, reducing food waste. Aside from its nutritional value, soup has healing properties, generally linked to comfort and recovery, particularly in the case of sickness. Soup is also easily adaptable to suit nutritional requirements in the form of vegan, vegetarian, or gluten-free diets. Top Performing Soup Brands in the World.

Soup Market Top Companies

The Campbell Soup Company

Founding: 1869
Headquarters: United States of America
Revenue: $9.6B in 2023

Convenience foods and beverages are processed and distributed by The Campbell's Co. (Campbell's), which was founded as the Campbell Soup Co. Cookies, crackers, chips, biscuits, baked products, sauces, snacks, soups, broths, and stock products are all included in its product offerings. Condensed and ready-to-serve soups, pretzels, sandwich crackers, popcorn, tortilla chips, and potato chips are some of its offerings. The names Pepperidge Farm, Campbell's, Spaghettios, Chunky, and Late July are utilized by Campbell to market its products. Retail food stores, mass merchandisers, mass discounters, club stores, pharmacies, convenience stores, dollar stores, and other commercial and non-commercial retail businesses are some of the retail establishments it utilizes to merchandise its products. It does business in Canada as well as the United States. The headquarters of Campbell is located in the US city of Camden, New Jersey.

Nestle S.A.

Founding: 1866
Head Office: Switzerland
Revenue: $103.8B in 2023

Nestle SA (Nestle) produces and markets foods and beverages - Its product range consists of coffee, cereals, chocolates & confections, baby food, bottled water, and culinary foods. It also provides dairy products, nutritional products, ice cream, pet care products, chilled and frozen foods, and plant-based foods. Aero, Nescafe, Nespresso, Purina Alpo, Milkybar, Nestle Ice Cream, Cerelac, Nido, Perrier, S.Pellegrino, Acqua Panna, Nestea, Milo, Maggi, Buitoni, Cailler, Movenpick, Purina, Boost, Gerber, and Kit Kat are some of the products that Nestle markets with its brands. The company's operations are found in the Americas, Europe, the Middle East, Africa, Asia, and Oceania. Nestle has its headquarters in Vevey, Waadt, Switzerland.

Baxters Food Group Lmt.
Foundation: 1868
Headquarters: United States of America
Revenue: $10.6B in 2023

A range of healthcare products are provided by Baxter International Inc. (Baxter) - Sterile intravenous solutions, generic injectable drugs, parenteral nutrition therapy, infusion systems and equipment, anesthetics inhalation, surgical hemostat and sealant products, dialysis for acute and chronic diseases are some of its products and services. Hospitals, rehabilitation centers, renal dialysis centers, assisted living facilities, and homes of patients all consume the company's products. Baxter distributes its products through a network of independent distributors, drug wholesalers, specialty pharmacies, and other alternate site providers along with its direct sales force. The company has operations in Europe, Asia-Pacific, Africa, the Middle East, and the Americas. Baxter's US headquarters are in Deerfield, Illinois.

General Mills Inc.

Formation: 1928
Headquarter: United States of America
Revenue: $19.9B in 2023

General Mills Inc. (General Mills) produces and sells branded consumer products - Grain, fruit, savory, nutrition bars, frozen hot snacks, ready-to-eat cereals, natural pet food, frozen and refrigerated dough, baking ingredients and mixes, yogurt, and super-premium ice cream are among the company's products. Also, it offers convenient meal options like frozen breakfast food, frozen meals, pizza, soup, ethnic food, meal kits, and side dish combinations. Blue Buffalo, Food Should Taste Good, Fruit Roll-Ups, Blue Basics, Cheerios, Chex, Cocoa Puffs, Cookie Crisp, EPIC, Fiber One, Fruit Gushers, Gardetto's, Go-Gurt, Gold Medal, and Golden Grahams are just a few of the companies that the business utilizes to market its products. Grocery stores, mass merchandisers, e-commerce websites, foodservice wholesalers, and pet specialty retailers are some of its diverse customers. Asia-Pacific, the Middle East, Africa, Europe, North America, and Latin America are some of its geographic operating areas. The Minneapolis suburb of General Mills is in Minnesota, USA.

Conagra Brands, Inc.

Founding: 1919
Headquarters: United States of America
Revenue: $12.1B in 2023

Conagra Brands Inc. (Conagra) is a foodservice product and ingredient manufacturer and distributor, as well as a distributor of branded, value-added consumer goods - Meals, entrees, frozen foods, sauces, seafood, shelf-stable food products, and specially prepared culinary products are among the company's product offerings. In the US, it distributes branded, temperature-controlled food products through multiple retail channels. Conagra supplies its products to food service establishments, restaurants, retail stores, and commercial customers. It has interests in overseas manufacturing facilities in Mexico, Bangladesh, Sri Lanka, and India. In the Philippines, Panama, China, Canada, Mexico, and the US, it has production facilities and sales offices. Conagra has headquarters in the US city of Chicago, Illinois.

Premier Foods Soup Product Launches

April 2025, FUEL10K is taking its high-protein range beyond breakfast and snack and into Noodle Pots, Instant Soup Sachets, and Microwaveable Pouch Protein Bowls. Riding the trend for convenient, healthy meals, the brand seeks to complete the gap in high-protein solutions in the meals, snack, and soup markets. With a reputation for best-tasting foods, FUEL10K is well-placed to deliver busy, health-focused consumers with healthy, tasty meal solutions.

Hindustan Unilever Group Soup Product Launches

Dec 2024,Knorr, Hindustan Unilever Limited's number-one ready-to-cook soup and ramen brand, has collaborated with Netflix for a first-of-its-kind campaign in association with Squid Game Season 2, which will return on December 26. The "Dare-to-Slurp" challenge salutes K-culture and K-food, encouraging fans to try Knorr's Korean ramen portfolio. This campaign caters to the increasing popularity of Korean food in India and appeals to individuals to adopt the happy act of slurping noodles as an act of respect towards the chef.

SWOT Analysis of the Associated British Food Inc.

Strength: Wide Ingredients Portfolio & Robust Global Supply Chain - Some of the key strengths of ABF in the soup industry are its wide ingredients and food processing facilities. Through ownership of divisions that manufacture yeasts, enzymes, starches, flavoring substances, and preservatives, ABF has quality, consistency, and cost control of raw materials, minimizing dependence on external suppliers. The company's well-established brand image and presence in grocery/consumer foods make the launch of new lines of products such as soups and ready-to-eat broths easy. Moreover, ABF's manufacturing and distribution network around the world can scale efficiently across markets to provide competitive pricing alongside consumer needs for quality and affordability.

SWOT Analysis of the The Kraft Heinz Company

The strength of Kraft Heinz in the soup business is its brand equity and varied portfolio that includes popular brands such as "Heinz." It is this recognition that prompts consumers to experiment with new products under a recognized brand name. The firm's large-scale manufacturing and distribution infrastructure enable it to manufacture and distribute soup at low costs through different retail channels, providing availability as well as competitiveness in the market. Furthermore, Kraft Heinz's focus on innovation, like healthier alternatives and product formulation flexibility, enables it to keep up with evolving consumer tastes. These elements contribute to enhance Kraft Heinz's position in the soup market, facilitating both market penetration and trend responsiveness.

Recent Development in the Kettle Cuisine

Nov 2022, L Catterton and Nestlé have revealed a joint venture that will join Freshly with Kettle Cuisine, a prominent producer of fresh artisanal foods for retail and foodservice customers. The new combined business will strive to deliver a broad portfolio of fresh food products to customers in different regions and channels.

Recent Development in the Hain Celestial Group

In November 2023, The Hain Celestial Group, Inc. expanded its portfolio with a huge acquisition of the favorite snack brands Parmcrisps and Thinsters. This strategic acquisition was made for a commendable acquisition price of $259 million, reflecting the increasing popularity of creative and healthier snack foods in the current market.

Amy's Kitchen Sustainability Goal

Amy's Kitchen has built a robust sustainability agenda based on environmental stewardship, ethical sourcing, and social purpose. Since the company was founded, it has used organic, Non-GMO, plant-based ingredients, funding organic farms and reducing synthetic pesticide use. One of their primary objectives is to run all operations using 100% renewable power by 2030. In a step toward achieving this aim, they have signed up for a large-scale wind farm power purchase agreement that now accounts for about 30% of their energy use.

Reduced waste is another priority for Amy's Kitchen. The company wants to get 95% of its waste out of the landfills, and their Santa Rosa plant is already at 92%. They intend all their packaging by 2030 to be either compostable, recyclable, or a part of a circular economy. They are currently working on developing compostable films and fiber packaging.

B&G Foods Inc. Sustainability Goal

B&G Foods has established aggressive sustainability goals as part of its Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) strategy, with quantifiable targets to be met by 2027. It aims for all of its packaging to be reusable, recyclable, compostable, or biodegradable, and for 50% of this packaging to utilize recycled content by 2027. B&G Foods is also committed to increasing efficiency in its manufacturing operations, aiming for a 25% reduction in energy use and a 10% reduction in water consumption across its facilities. The corporation is also focused on achieving "zero waste to landfill" at all its locations.

To these in-house goals, B&G Foods is actually involving its supply chain through a supplier code of conduct that prioritizes compliance with the environment and aims to reduce the company's ecological footprint, specifically in terms of water usage, energy consumption, waste generation, and the management of pesticides. The company is committed to transparently disclosing its progress in its CSR reports and is aiming to set science-based targets for Scope 1, 2, and 3 greenhouse gas emissions in line with Science Based Targets Initiative (SBTi) frameworks.

Global Soup Market

• Historical Trends
• Forecast Analysis

Market Share Analysis - Global Soup Industry

Company Analysis - Faro Technologies Inc

Overview

• Company History and Mission
• Business Model and Operations
• Workforce

Key Persons

• Executive Leadership
• Operational Management
• Division Leaders
• Board Composition

Recent Development & Strategies

• Mergers & Acquisitions
• Partnerships
• Investments

Sustainability Analysis

• Renewable Energy Adoption
• Energy-Efficient Infrastructure
• Use of Sustainable Packaging Materials
• Water Usage and Conservation Strategies
• Waste Management and Circular Economy Initiatives

Product Analysis

• Product Profile
• Quality Standards
• Product Pipeline
• Product Benchmarking

Strategic Assessment: SWOT Analysis

• Strengths
• Weaknesses
• Opportunities
• Threats

Revenue Analysis

The above information will be available for all the following companies:

• Campbell Soup Company
• Nestle S.A.
• Baxters Food Group Lmt.
• General Mills Inc.
• Conagra Brands, Inc.
• Premier Foods
• Hindustan Unilever Group
• Associated British Food Inc.
• The Kraft Heinz Company
• Amy’s Kitchen
• Hain Celestial Group
• Kettle Cuisine
• B&G Foods Inc.
• Nissin Foods Holdings
• Ottogi Co., Ltd.