Top Players in the Soup Market

The global soup market reached a value of US$ 11.7 Billion in 2023. As per the analysis by the IMARC Group, the soup market is experiencing an increasing demand for convenience food items due to rapid urbanization, a growing working population, and hectic schedules. These evolving preferences have prompted manufacturers to launch ready-to-eat, frozen, and dehydrated soups in convenient packaging formats. For instance, Campbell, a US-based food manufacturing company offers soup in microwavable cups, thus making it more suitable for consumers to use and dispose of. Moreover, globalization has led to the emergence of a variety of ethnic soups inspired from different regions, including Vietnamese Pho, Thailand Tom Yum, Mexico Tortilla, and Malaysia Laska soups, which are acting as major growth-inducing factors. Additionally, key players are offering novel product variants, such as organic, gluten-free, and vegan soups, to meet the requirements of health-conscious consumers. These innovative products are made from plant-based proteins rather than animal derivates, which are more sustainable and cleaner. Besides this, the growth of distributional channels, such as supermarkets, convenience stores, and superstores, is helping brands in expanding their business presence across the globe. Along with this, the rising popularity of online shopping, especially during the lockdown impositions due to the coronavirus disease (COVID-19) pandemic, has inflated the sales of soups as an immunity-booster superfood. This, in turn, is creating lucrative opportunities for key players. Furthermore, increasing expenditure on promotional and other marketing activities, along with the formulation of brand recognition strategies to improve product taste and quality are supporting the market growth. Looking forward, IMARC Group expects the market to reach US$ 16.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.

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List of Largest Soup Companies Operating in the Global Market:

B&G Foods Inc.

Establishment:1889
Headquarter: United States
Website:https://bgfoods.com

B&G Foods Inc. is a US-based holding company that manufactures, sells, and distributes a range of shelf-stable and frozen foods, including frozen vegetables, fruit spreads, canned meats, spices, hot sauces, salad dressings, and wine vinegar. The company also offers dry soups, Mexican-style sauces, pickles, and other specialty products. B&G markets these products under various brands, such as B7M, Bear Creek Country Kitchens, Ac’cent, B&G, Baker’s Joy, Brer Rabbit, Cary’s, Cream of Rice, and Rumford brands amongst others. Besides this, it sells and distributes its goods directly as well as through a network of independent brokers to supermarket chains, mass merchants, foodservice outlets, warehouse clubs, and specialty distributors.

Baxters Food Group Limited

Establishment:1868
Headquarter: United Kingdom
Website: https://www.baxters.com

Baxters Food Group Limited is a family-owned, food processing company. It produces food under the plant-based, super good, vegetarian, favorites, chef selections, and super-licious pots categories. Under these, the company offers jams, soups, chutney, conserves and honey, jelly, canned meat products, pasta sauces, and sour pickles. Baxters distributes and sells these products online and directly through several retail stores, such as Tesco, Sainbury’s, Morrisons, ASDA, Booker, Iceland, and b&m.

Blount Fine Foods

Establishment:1880
Headquarter: United States
Website: https://www.blountfinefoods.com

Blount Fine Foods, formerly known as Blount Seafood, is a family-owned and operated manufacturer, marketer, and developer of frozen gourmet soups, side dishes, desserts, dips and spreads, salads, sauces, and stews. Its products include single-serve, restaurant-quality, fresh soups, entrees at retail, and side dishes for club stores, institutions, restaurants, and retail outlets. The company sells these products under the Blount, Panera Bread, and Legal Sea Foods brands. Many of its products are also available with specialty certifications, such as organic, low sodium, and gluten-free amongst others.

Campbell Soup Company

Establishment:1869
Headquarter: United States
Website: https://www.campbellsoupcompany.com

Campbell Soup Company (CPB) is engaged in the manufacturing and marketing of convenience food products, such as snacks, soups, simple meals, and healthy beverages. Apart from being a flagship brand of canned soup products, the company has grown exponentially through mergers and acquisitions to become of the largest processed food organizations in the United States. CPB’s business units are divided into America's Simple Meals and Beverages and Global Biscuits and Snacks. The former unit includes the retail and foodservice channel businesses of condensed and ready-to-serve soups, broths and stocks, tomato ketchup, pasta sauces, and gravies, whereas the latter is involved in distributing farm cookies, crackers, bakery, and frozen products across the US, Australia, Canada, Latin America, and the Asia Pacific regions. The company markets these products under the Pepperidge, Campbell, Swanson, Prego, Pace, and Kelsen brand names.

Conagra Brands Inc. 

Establishment:1919 
Headquarter: United States
Website: https://conagrabrands.com 

Conagra Brands Inc. is a US-based holding company that manufactures and markets processed and packaged goods for retail consumers, restaurants, institutions, and other foodservice suppliers. Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice are its main business units. The company offers snacks, meals, entrees, condiments, specialty potatoes, milled grain ingredients, meat, and dehydrated vegetables and seasoning. These products are sold through grocery stores, mass merchandise, and club stores under several brands, such as Banquet, Birds Eye, Vlasic, Slim Jim, Reddi-Wip, Duke’s, Earth Balance, BOOMCHICKAPOP, Angie’s, Health Choice, and Gardein amongst others.  

General Mills 

Establishment:1928 
Headquarter: Minnesota, United States
Website:https://www.generalmills.com 

General Mills is one of the leading producers of packaged consumer foods, such as flour, breakfast cereals, snacks, soups, prepared mixes, pet food, and similar products, that are sold through retail stores. The company’s main segments include North America Retail, Convenience Stores and Foodservice, Europe and Australia, Asia and Latin America, and Pet. General Mills’ product categories are divided into frozen snacks, RTE cereal, convenient meals, frozen entrees, natural pet food, and ice cream. Some of the organization’s largest brands include Nature Valley, Cheerios, Yoplait, Betty Crocker, Haagen-Dazs, Kix, Trix, and Wheaties.  

Nestle SA 

Establishment:1905 
Headquarter: Switzerland 
Website:https://www.nestle.in 

Nestle SA, formed after the merger of Nestle and Anglo-Swiss in 1905, is a diversified food and beverage conglomerate corporation. The company’s product portfolio comprises bottles water, infant formula, cereals, confectionery, coffee, frozen foods, dairy and nutritional products, ice cream, and pet food. In addition to this, the company is a pioneer in dehydrated noodles and soups, such as Maggi's healthy soups product line, that are tasty, quick to prepare, convenient, and healthy. Nestle looks at over 200 brands, with some of the prominent being Nespresso, Nescafe, Kit Kat, Nesquik, Smarties, Vittel, Garden Gourmet, All-Stars, Santa Rica, Nutren, and Maggi. Apart from this, the company has around 376 factories set up worldwide, serving 81 countries.  

The Kraft Heinz Company

Establishment:1903 
Headquarter: Illinois, United States 
Website:https://www.kraftheinzcompany.com 

The Kraft Heinz Company, formed after the merger of Kraft Foods Group with H.J. Heinz Holding Corporation in 2015, is primarily involved in the manufacturing and marketing of convenient food items and other grocery products. The company operates its business through five segments, namely beverages, cheese, refrigerated meals, grocery, and international and foodservice. Some of its iconic brands include Oscar Meyer, Capri Sun, Kool-Aid, Ore-Ida, Jell-O, Philadelphia, Maxwell House, Velveeta, and Lunchables. Kraft Foods generates its revenue from condiments that are offered through retailers and foodservice distributors worldwide.  

Ottogi Corporation

Establishment:1969
Headquarter: South Korea
Website: http://www.ottogi.co.kr

Ottogi Corporation is a manufacturer and distributor of processed food items. Its diverse product portfolio includes sauces, soups, vinegar, dehydrated products, ketchup, powdered goods. instant curries, cooking oils, meat, spices, ramen, and agriculture and livestock goods. The company markets these products under its own brand name, which is Ottogi. Apart from the domestic market, Ottogi has a business presence in New Zealand, Vietnam, China, and the United States.

Premier Foods Group Limited

Establishment:1837
Headquarter: United Kingdom
Website: https://www.premierfoods.co.uk

Premier Foods Group Limited functions in the ambient food sector as it manufactures, processes, and distributes a range of food products. The Company provides breads, flours, cakes, convenience foods, cooking sauces, desserts, stocks, gravies, preserves, and stuffings. Its product portfolio is divided into four key categories, namely Flavorings and Seasonings, Cooking Sauces and Accompaniments, Quick Meals, Snack and Soups, and Ambient Desserts. Premier Foods owns many well-known brands, including Bird’s Custard, Mr. Kipling, Oxo, Bisto, Homepride, Angel Delight, Cadbury, Batchelor's, and Plantastic amongst others.

Hain Celestial Group Inc. 

Establishment:1993
Headquarter:New York, United States
Website: http://www.hain.com 

Hain Celestial Group markets manufacture, and sells organic and natural better-for-you products covering personal care and food and beverage categories. They include herbal teas, soaps, lotions, soups, candy, baked goods, cereal, dairy, and gluten-free food variants. These products are sold under several brands, such as Sensible Portions, Terra, The Greek Gods, Earth’s Best, Celestial Seasonings, Farmhouse Fare, Frank Coopers, Gales, Roberston’s, Clark’s, Rose’s, Lima, and Hain Pure Foods.

Unilever plc.

Establishment:1929
Headquarter: United Kingdom
Website: https://www.unilever.com

Unilever plc., formed through the merger of Dutch Margarine Unie and the UK-based soapmaker Lever Brothers, is a fast-moving consumer goods (FMCG) company. It operates three business segments, namely beauty, and personal care, foods and refreshment, and home care. Within these units, the company offers condiments, ice cream, wellbeing vitamins, supplements, tea, dehydrated and instant soups, breakfast cereal, coffee, cleaning agents, pet food, and other personal care and beauty products. Unilever owns over 400 brands, with some of the prominent one’s being Axe, Dove, Lipton, Knorr, Sunsilk, Lifebuoy, Hellmann’s, Lux, and Persil.

About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the soup market, which has enabled clients to set up and expand their businesses successfully. 

Some of the company’s offerings include:

• Market Research 
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• Procurement and Distribution 
• Innovation and Product Development