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Summary and extracts
1 Market Overview
1.1 Definition and scope of study
The term soup refers to a specific category of soup that is prepared with different ingredients and eaten with bread or croutons as an accompaniment. Soup is usually used as an appetizer or first course. The main ingredients used in the preparation of soup are meat or vegetable broth, stale bread, and grated cheese. This study focuses on the types of ready-to-eat soups that are readily available in any supermarket.
Globally, the soup market was valued at $16.1 billion in 2018 and the compound annual growth rate (CAGR), between 2019 and 2025, is estimated at 3.0 percent. This large growth is due to the fact that more and more people are aware of the benefits of a proper and healthy diet.
The Italian market for ready-to-eat soups has always been steady, but as the Nielsen Observatory states in Italy between 2018 and 2019 there was a real boom in sales (+28% compared to the previous year).
There are three main trends for the coming years: greater differentiation, more sustainable packaging and an increase in e-commerce. Regarding the first trend, given the market opportunity, more companies are selling fresh, frozen, and canned soups with more ingredients and different recipes. In addition, industry players are aiming to have containers that are 100 percent organic or reusable in other ways (after eating the soup, the container remains a bowl that can be used for other meals). Finally, several studies show that by 2027 the main sales channel for ready-to-eat soups will not be the supermarket but e-commerce.
The companies with the best results in terms of products sold in Italy are: Findus, Knorr, Buitoni, and Orogel.
1.2 A growing global market
In ****, soup market revenues amounted to nearly $**.* billion globally. This figure is expected to grow at a compound annual rate of *.** percent over the forecast period ****-****.
The growth is influenced by the growing demand for quick, easy-to-prepare meals with healthy ingredients. In addition, soups are made from foods that are ...
1.3 The Italian market
The soup market is a growing market in Italy, where consumers are looking for quick, healthy and convenient meals. In addition, soup is a food that is part of Italian cuisine in various forms of preparation. From the graphs below, in ****, revenues amounted to €*** million in ****, with a volume of *** million ...
1.4 A surplus trade balance
The following graph shows the evolution of imports and exports of:
Soups, broths and related preparations
The graph below shows that from **** to ****, the value of exports was always higher than the dollar value of imports, with some lows and highs. Notably, in ****, exports and imports contracted due to the COVID ...
2 Demand analysis
2.1 Demand analysis
The soup market is growing and developing in line with:
The attitude toward conscious consumption of healthy, ready-to-eat foods
Ready-made soup, in particular, is an ideal product for those who do not have time in preparing and cutting vegetables. Moreover, it is a healthy, ready-to-eat anywhere product that manages to attract ...
2.2 Soup, a seasonal product
Traditionally classified as a winter "must-have," soup is now seen primarily as a winter ally against the cold. In ****, peak interest in the soup product is observed between the beginning of October and the end of February, with a high return of interest in April. The period when consumers have minimal ...
2.3 Ready-made products vs. homemade recipes
Ready-made products are more popular than homemade recipes. The Everli survey, on purchases made on the website and via app, revealed that * out of ** consumers, or ** percent of respondents, prefer ready-made soups, while ** percent prefer to eat home-prepared soups over ready-made ones. The reasons for these preferences are convenience combined with ...
3 Market structure
3.1 Market structure
The soup market is very diversified in meeting different consumer needs and also competitive. It is not long since, for example, the Black Elk company entered the soup market to gain market share. The sector is characterized by large manufacturers offering a wide range of products, with higher market shares, and ...
3.2 Value chain
Value chain refers to the process by which a product is created, distributed and sold to consumers, adding value at each step in the process. In the sector of soups, minestrone, velvety and other similar products in Italy, the value chain can be divided into several stages:
In summary, the value ...
3.3 The offline channel as the main distribution channel
The market is divided between online and offline, however, the predominant one is the offline channel for **.*% of sales of soups, broths, and other products, mind, online counts for only *.*% of product sales[***].
Large-scale retail is the main channel in which products are offered both in the long-life Ambient version, in ...
4 Supply analysis
4.1 A highly differentiated offering
Consumption of soup, according to research from Pennsylvania State University, helps eliminate toxins in the body and facilitate liver and kidney function due to the substances contained in vegetables. In addition, its intake benefits brain activities and prevents their decline according to the study in the American Journal of Epidemiology[***].
Other ...
4.2 The prices
The determinants of prices in the soups, purees, creams, and minestrone sector in Italy are influenced by several key factors, including: the cost of raw materials (***) and more expensive features.
Thus, fluctuations in the prices of raw materials and the other determinants mentioned above can lead to changes in the prices ...
4.3 Supply trends
The main trends on the supply side include: increased product differentiation with the rise of convenience products and increasingly sustainable packaging.
In recent years, there has been an increasing focus on health and wellness, and this has also influenced the soup sector. There are more and more consumers looking for natural ...
5 Regulations
5.1 Regulatory framework
There are some general guidelines that apply to all food products and are also reflected in the market for soups and related products. These guidelines focus on food safety, product quality and proper labeling. Here are some of the main standards and guidelines to consider:
On food information
Legislative Decree No. ...
6 Positioning of actors
6.1 Segmentation
- Unilever Italia
- orogel
- Carrefour Italia
- Esselunga s.p.a
- Conad
- Coop Italia
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the soup market | Italy
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