Africa Soup Market Size, Analysis, Growth Size & Trends 2031
Africa Soup Market Size, Analysis, Growth Size & Trends 2031
Segments - Africa Soup Market by Category (Vegetarian Soup and Non-Vegetarian Soup), Type (Dehydrated Soup, Instant Soup, and Others), Packaging (Canned, Pouch, Other Packaging), Distribution Channels (Supermarket/Hypermarkets, Convenience Stores, Online Retail and Others) and Geography (South Africa and Rest of Africa) -Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031.
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| Report ID :FB-999
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| 168 Pages
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Report Description
Africa Soup Market Outlook 2031
The Africa soup market size was USD 376.5 Million in 2022 and is estimated to reach USD 534.95 Million by 2031 register a substantial CAGR of 3.98% during the forecast period, 2023–2031. The growth of the market is attributed to rising demand for convenience food and growing awareness regarding health benefits of soups. Soups are rich source of vitamins, minerals, nutrients, and protein.
The COVID-19 pandemic had an unpleasant impact on the Africa soup market due to halt in production and fluctuating supply in the market; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Africa Soup Market Trends, Drivers, Restraints, and Opportunities
- Rising health consciousness and expanding demand for convenience foods are the key factors boosting the African soup market’s growth.
- Increasing disposable income, urbanization, growing working population and changing preference for soups are anticipated to spur the market in near future.
- Factors such as lesser cooking time, travel-friendly, high availability, and good shelf life are further projected to drive the market expansion during the forecast period.
- Innovation in terms of additional convenient packaging and extensive flavor offerings are estimated to propel the African market’s growth in coming years.
- High content of salt and corn in dried products is considered to hamper an individual’s health and impede the market growth.
- R&D investment and technological advancement in Africa soup market are expected to offer lucrative opportunities for the market players.
Scope of The Africa Soup Market Report
The report on the Africa soup market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Soup Market - Africa Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2022 |
|
Historic Data |
2016–2021 |
|
Forecast Period |
2023–2031 |
|
Segmentation |
Category (Vegetarian Soup and Non-Vegetarian Soup), Type (Dehydrated Soup, Instant Soup, and Others), Packaging (Canned, Pouch, Other Packaging), Distribution Channels (Supermarket/Hypermarkets, Convenience Stores, Online Retail and Others) |
|
Geography |
South Africa and Rest of Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Unilever, Campbell Soup Company, Kraft Heinz, Mars, Incorporated and Nestle SA |
Soup Market Segment insights
The vegetarian soup segment is projected to constitute a large market share
Based on category, the Africa soup market is segregated into vegetarian and non-vegetarian soup. The vegetarian segment is expected to account for a key share of the market during the forecast period owing to changing taste and preference of consumers towards vegan food.
The instant soup segment is anticipated to grow at a rapid pace
Based on type, the Africa soup market is segregated into dehydrated soup, instant soup, and others. The instant soup segment is anticipated to dominate the market due to growing working population and busy schedule of consumers, thereby, opting for instant soup which consumes very less time.
The Pouch segment is expected to register a substantial CAGR
Based on packaging, the Africa soup market is divided into canned, pouch and others. The pouch segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to high consumption of convenience, packed, and healthy processed food in the working population. Working people are more inclined towards healthy food including easy to make and eat food products.
however, canned segment is anticipated to expand at a rapid pace during the forecast period due to consumers inclined towards ready to eat products on account of busy schedule. The manufacturers are focusing on making new flavors and products with associated health benefits.
The Supermarket segment is estimated to propel the market expansion
Based on distribution channel, the Africa soup market is divided into supermarket/hypermarkets, convenience stores, online retail and others. The supermarket segment is expected to account for a key share of the market during the forecast period. Soups are primarily sold in supermarkets due to the persistent demand for such products in the country. Moreover, consumers who are brand conscious prefer shopping from supermarkets, because of the brand assortment in these stores.
South Africa is expected to dominate the market
In terms of geography, the market is broadly classified as South Africa and Rest of Africa. The market in South Africa is anticipated to expand at a robust CAGR during the forecast period. Consumers in this region are mainly middle to higher income groups, who can afford to pay more for added convenience, and is anticipated to boost the market growth over the coming years.
Segments
The Africa soup market has been segmented on the basis of:-Category
- Vegetarian Soup
- Non-Vegetarian Soup
Type
- Dehydrated Soup
- Instant Soup
- Others
Packaging
- Canned
- Pouch
- Other
Distribution Channels
- Supermarket/Hypermarkets
- Convenience Stores
- Online Retail
- Others
Geography
- South Africa
- Rest of Africa
Key Players
- Unilever
- Campbell Soup Company
- Kraft Heinz
- Mars, Incorporated
- Nestle SA
Competitive Landscape
Key players competing in Africa soup market include Unilever, Campbell Soup Company, Kraft Heinz, Mars, Incorporated and Nestle SA
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Soup Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Soup Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Soup Market - Supply Chain
4.5. Global Soup Market Forecast
4.5.1. Soup Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Soup Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Soup Market Absolute $ Opportunity
5. Global Soup Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Soup Market Size and Volume Forecast by Types
5.3.1. Dehydrated Soup Instant Soup Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Soup Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Soup Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Soup Demand Share Forecast, 2019-2026
7. North America Soup Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Soup Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Soup Market Size and Volume Forecast by Types
7.4.1. Dehydrated Soup Instant Soup Others
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Soup Demand Share Forecast, 2019-2026
8. Latin America Soup Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Soup Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Soup Market Size and Volume Forecast by Types
8.4.1. Dehydrated Soup Instant Soup Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Soup Demand Share Forecast, 2019-2026
9. Europe Soup Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Soup Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Soup Market Size and Volume Forecast by Types
9.4.1. Dehydrated Soup Instant Soup Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Soup Demand Share Forecast, 2019-2026
10. Asia Pacific Soup Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Soup Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Soup Market Size and Volume Forecast by Types
10.4.1. Dehydrated Soup Instant Soup Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Soup Demand Share Forecast, 2019-2026
11. Middle East & Africa Soup Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Soup Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Soup Market Size and Volume Forecast by Types
11.4.1. Dehydrated Soup Instant Soup Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Soup Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Soup Market: Market Share Analysis
12.2. Soup Distributors and Customers
12.3. Soup Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Unilever
12.4.2. Campbell Soup Company
12.4.3. Kraft Heinz
12.4.4. Mars, Incorporated
Methodology
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