Due to the closure of restaurants, owing to the COVID-19 pandemic, the demand for frozen pizzas and other packaged food products such as instant soup and noodles has created incremental opportunities for manufacturers. Since an increasing number of consumers has become accustomed to work from home, such trends are translating into sales opportunities for manufacturers in the Latin America instant soup market, as consumers are experimenting with new flavors through home cooking.
Thus, rise in the consumption of packaged food has driven manufacturers in the Latin America instant soup market to work at breakneck speeds to meet consumer demands. However, instant soups are under scrutiny for using unknown preservatives and additives that might affect immunity levels during the pandemic. Homemade soups are being associated with immunity boosting properties, weight loss, and improvement in heart health. In order to meet niche consumer demands, manufacturers are offering instant soups with organic ingredients that appeal to health-conscious consumers.
The Latin America instant soup market is projected to reach ~US$ 550 Mn by 2031. However, instant soup is notorious for remaining in the gut for a longer period of time and can cause issues of bloating, gas, and even abdomen pain. Thus, manufacturers are increasing their production for certified organic soup mixes with minimal preservatives and no artificial flavors in healthy broccoli-spinach, almond-coconut, and tomato-beetroot variants.
Soup production is a rapidly developing and innovative category, which is witnessing a rise of value-added products filled with homemade taste offering ready-to-eat convenience. Producers in the Latin America instant soup market are gaining proficiency in processing technologies to offer high-quality products that bring culinary tradition to the dinner table for consumers. They are increasing R&D for heat treatment of particulate food in instant soups to assure food safety, reduce operational & maintenance costs, and minimize environmental footprint.
The growing sophistication in products has compelled companies in the Latin America instant soup market to adopt specialized food production and technology expertise. For instance, Tetra Pak - a Swedish-Swiss multinational food packaging and processing company, which has extended its business arms in Brazil, is acquiring popularity for best-practice lines in soups that help clients guarantee performance and optimize production.
The drying process has a great impact on the quality and shelf life of dehydrated soups. Manufacturers in the Latin America instant soup market are implementing new drying procedures that improve final quality of the product. They are increasing efforts to predict the moisture content during storage under a variety of conditions for reducing the cost and the cycle time of product development.
Companies in the Latin America instant soup market are gaining a strong research base to study the moisture sorption characteristics of rice-based instant soups to advance in drying processes, and march toward more economic and energy reduced treatments.
Producers in the Latin America instant soup market are boosting their output capacities of ready-to-eat (RTE) grains and pulses instant soups to fulfill the demand for quick and nutritious meal on the go. Diet meal startups are unlocking growth opportunities by maintaining full flavor and texture of grains & legumes. They are increasing the availability of plant-based RTE soups to save time and labor for consumers.
Lentils and quinoa are being used by manufacturers in the Latin America instant soup market to develop plant-based RTE soups.
Analysts’ Viewpoint
Due to the burgeoning demand for packaged food, consumers are opting for organic ingredients soup mixes to maintain optimum health during the COVID-19 pandemic. Since RTE soups are perceived as cheap, artificial, and unhealthy, manufacturers in the Latin America instant soup market are innovating in plant-based RTE soups involving legumes and grains to meet the demands of health-conscious consumers. Advanced freeze-drying and pre-drying processes help to keep pulses and grains in instant soups fresh and prevent legumes from looking overcooked or smashed. Best-practice lines for soups, such as continuous particulate lines, dehydrated lines, and continuous smooth lines, help to increase the availability of natural products with as good as low to no preservatives.
Latin America Instant Soup Market: Overview
Latin America Instant Soup Market: Key Takeaways
Latin America Instant Soup Market: Key Trends
The trend of wellbeing has a positive effect on instant soup sales, as nutritious ingredients such as green veggies as well as the inclusion of healthy lean proteins meat, are increasingly used in soup products, along with various flavors’ suiting consumers' taste buds. Increased product variety, consumption of health and wellness items, and aggressive marketing by market players are expected to drive the instant soup market in the upcoming years. Furthermore, the demand for healthy food items is projected to fuel demand for organic instant soup in the region.
Furthermore, due to the growing demand for vegan and vegetarian snack products in convenient formats, consumers are increasingly favoring instant soup as a snack option. As a result, the instant soup market is being driven by the convenience and thus, companies are selling soups with highly nutritious ingredients. In the near future, however, unhealthy alternatives, poor quality, and excess use of additives to increase the shelf life of soup as well as a preference for a healthier lifestyle, are likely to restrict market development.
In most parts of the world, an increase in per capita income is another factor driving the net sales of ready meals. However, rising safety concerns about ready meals can have an effect on market development. As a result, manufacturers are concentrating on introducing more nutritious and safe goods to reclaim the market. Due to the shift in the customer demand for vegan food items, vegetarian ready-to-eat soup now accounts for nearly a third of the overall instant soup industry. During the forecast period, the vegetarian soup segment is projected to generate maximum revenue at a higher growth rate.
Dried soup products dominated the market over other forms of convenience soups due to their high nutritional, vitamin, mineral, and protein content. Packaged soups are often preferred over soups served in restaurants and grocery stores due to the ease of access and the long shelf life of containers.
During the coronavirus pandemic, ready-to-eat food became one of the few sectors that saw an increase in demand. Ready-to-cook food items have been flying off the shelves in recent months, with various countries on lockdown and most people working from home.
Latin America Instant Soup Market: Key Players
Latin America Instant Soup Market – Segmentation
TMR’s study on the instant soup market offers information divided into important segments - nature, form, source, end-use, distribution channel, and country. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
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1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Opportunities in the Latin America Food & Beverage Industry
3.2. Product Innovation and Development Trends
3.3. Key Trends Impacting the Market
4. Key Success Factors
4.1. Key Success Factors
5. Latin America Instant Soup Market Demand Analysis 2016-2020 and Forecast, 2021-2031
5.1. Historical Market Volume (Tons) Analysis, 2016-2020
5.2. Current and Future Market Volume (Tons) Projections, 2021-2031
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Latin America Instant Soup Market - Pricing Analysis
6.1. Pricing Analysis By Nature – Latin America
7. Latin America Instant Soup Market Demand Analysis 2016-2020 and Forecast, 2021-2031
7.1. Historical Market Volume (Tons) & Value (US$ Mn) Analysis, 2016-2020
7.2. Current and Future Market Volume (Tons) & Value (US$ Mn) Projections, 2021-2031
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. Global GDP Growth Outlook
8.1.2. Global Industry Value Added
8.1.3. Global Urbanization Growth Outlook
8.1.4. Global Food Security Index
8.1.5. Global Rank – Ease of Doing Business
8.1.6. Global Rank – Trading Across Borders
8.1.7. Retailers
8.2. COVID-19 Impact on Supply Chain
8.3. Global Food & Beverage Industry Outlook
8.4. Latin America Food & Beverage Industry Outlook
8.5. Value Chain
8.6. Key Regulations
8.7. Market Dynamics
8.7.1. Drivers
8.7.2. Restrain
8.7.3. Opportunities
8.8. Forecast Factor-Relevance & Impact
9. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Nature
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) and Volume Analysis By Nature, 2015 - 2019
9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Nature, 2020 - 2030
9.3.1. Organic
9.3.2. Conventional
9.4. Market Attractiveness Analysis By Nature
10. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Form
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) and Volume Analysis By Form, 2015 - 2019
10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Form, 2020 - 2030
10.3.1. Dry
10.3.2. Liquid
10.4. Market Attractiveness Analysis By Form
11. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Source
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Mn) and Volume Analysis By Source, 2015 - 2019
11.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Source, 2020 - 2030
11.3.1. Animal-based
11.3.1.1. Chicken
11.3.1.2. Beef
11.3.1.3. Other
11.3.2. Plant-based
11.3.2.1. Tomato
11.3.2.2. Mushroom
11.3.2.3. Corn
11.3.2.4. Other
11.4. Market Attractiveness Analysis By Source
12. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By End Use
12.1. Introduction / Key Findings
12.2. Historical Market Size (US$ Mn) and Volume Analysis By End Use, 2015 - 2019
12.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By End Use, 2020 - 2030
12.3.1. Foodservice Industry
12.3.2. Retail/Household
12.4. Market Attractiveness Analysis By End Use
13. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Distribution Channel
13.1. Introduction / Key Findings
13.2. Historical Market Size (US$ Mn) and Volume Analysis By Distribution Channel, 2015 - 2019
13.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Distribution Channel, 2020 - 2030
13.3.1. Business to Business
13.3.2. Business to Consumer
13.3.2.1. Hypermarkets/Supermarkets
13.3.2.2. Specialty Stores
13.3.2.3. Convenience Stores
13.3.2.4. Online Retail
13.4. Market Attractiveness Analysis By Distribution Channel
14. Latin America Instant Soup Market Analysis 2016-2020 and Forecast 2021-2031, By Country
14.1. Introduction / Key Findings
14.2. Historical Market Size (US$ Mn) and Volume Analysis By Country, 2015 - 2019
14.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Country, 2020 - 2030
14.3.1. Brazil
14.3.2. Mexico
14.3.3. Argentina
14.3.4. Rest of Latin America
14.4. Market Attractiveness Analysis By Distribution Channel
15. Market Structure Analysis
15.1. Market Analysis By Tier of Companies
15.2. Market Concentration
16. Competition Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Competition Deep Dive
16.3.1. Campbell Soup Company
16.3.1.1. Overview
16.3.1.2. Product Portfolio
16.3.1.3. Production Footprint
16.3.1.4. Strategy Overview
16.3.2. Nestlé
16.3.2.1. Overview
16.3.2.2. Product Portfolio
16.3.2.3. Production Footprint
16.3.2.4. Strategy Overview
16.3.3. Unilever
16.3.3.1. Overview
16.3.3.2. Product Portfolio
16.3.3.3. Production Footprint
16.3.3.4. Strategy Overview
16.3.4. General Mills Inc.
16.3.4.1. Overview
16.3.4.2. Product Portfolio
16.3.4.3. Production Footprint
16.3.4.4. Strategy Overview
16.3.5. Conagra Brands, Inc.
16.3.5.1. Overview
16.3.5.2. Product Portfolio
16.3.5.3. Production Footprint
16.3.5.4. Strategy Overview
16.3.6. B&G Foods, Inc.
16.3.6.1. Overview
16.3.6.2. Product Portfolio
16.3.6.3. Production Footprint
16.3.6.4. Strategy Overview
16.3.7. Productos Alimenticios La Moderna SA de CV
16.3.7.1. Overview
16.3.7.2. Product Portfolio
16.3.7.3. Production Footprint
16.3.7.4. Strategy Overview
16.3.8. Baxters Food Group Ltd.
16.3.8.1. Overview
16.3.8.2. Product Portfolio
16.3.8.3. Production Footprint
16.3.8.4. Strategy Overview
16.3.9. MONTE CUDINE
16.3.9.1. Overview
16.3.9.2. Product Portfolio
16.3.9.3. Production Footprint
16.3.9.4. Strategy Overview
16.3.10. Industrias Iberia CA
16.3.10.1. Overview
16.3.10.2. Product Portfolio
16.3.10.3. Production Footprint
16.3.10.4. Strategy Overview
16.3.11. Amy's Kitchen, Inc.
16.3.11.1. Overview
16.3.11.2. Product Portfolio
16.3.11.3. Production Footprint
16.3.11.4. Strategy Overview
16.3.12. Cafés La Virginia S.A.
16.3.12.1. Overview
16.3.12.2. Product Portfolio
16.3.12.3. Production Footprint
16.3.12.4. Strategy Overview
16.3.13. Hain Daniels Group
16.3.13.1. Overview
16.3.13.2. Product Portfolio
16.3.13.3. Production Footprint
16.3.13.4. Strategy Overview
16.3.14. Nissin Foods
16.3.14.1. Overview
16.3.14.2. Product Portfolio
16.3.14.3. Production Footprint
16.3.14.4. Strategy Overview
16.3.15. Juanita's Foods
16.3.15.1. Overview
16.3.15.2. Product Portfolio
16.3.15.3. Production Footprint
16.3.15.4. Strategy Overview
17. Assumptions and Acronyms Used
18. Research Methodology
List of Tables:-
Table 01: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Nature, 2015-2030
Table 02: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Nature, 2015-2030
Table 03: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Form, 2015-2030
Table 04: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Form, 2015-2030
Table 05: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Source, 2015-2030
Table 06: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Source, 2015-2030
Table 07: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Animal-based Segment, 2015-2030
Table 08: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Animal-based, 2015-2030
Table 09: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Plant-based Segment, 2015-2030
Table 10: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Plant-based Segment, 2015-2030
Table 11: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by End Use, 2015-2030
Table 12: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by End Use, 2015-2030
Table 13: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Sales Channel, 2015-2030
Table 14: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Sales Channel, 2015-2030
Table 15: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Business to Consumer Segment, 2015-2030
Table 16: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Business to Consumer Segment, 2015-2030
Table 17: Latin America Instant Soup Market Volume (Tons) Analysis and Forecast by Country, 2015–2030
Table 18: Latin America Instant Soup Market Value (US$ Mn) Analysis and Forecast by Country, 2015–2030
List of Figure:-
Figure 01: Latin America Instant Soup Market Value (US$ Mn) Forecast, 2021-2031
Figure 02: Latin America Instant Soup Market Volume (Tons) Forecast, 2021-2031
Figure 03: Latin America Instant Soup Market Value Share Analysis by Nature, 2021 E
Figure 04: Latin America Instant Soup Market Y-o-Y Growth Rate by Nature, 2021-2031
Figure 05: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Nature, 2021-2031
Figure 06: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Nature, 2021-2031
Figure 07: Latin America Instant Soup Market Value Share Analysis by Form, 2021 E
Figure 08: Latin America Instant Soup Market Y-o-Y Growth Rate by Form, 2021-2031
Figure 09: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Form, 2021-2031
Figure 10: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Form, 2021-2031
Figure 11: Latin America Instant Soup Market Value Share Analysis by Source, 2021 E
Figure 12: Latin America Instant Soup Market Y-o-Y Growth Rate by Source, 2021-2031
Figure 13: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Source, 2021-2031
Figure 14: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Source, 2021-2031
Figure 15: Latin America Instant Soup Market Value Share Analysis by End Use, 2021 E
Figure 16: Latin America Instant Soup Market Y-o-Y Growth Rate by End Use, 2021-2031
Figure 17: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by End Use, 2021-2031
Figure 18: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by End Use, 2021-2031
Figure 19: Latin America Instant Soup Market Value Share Analysis by Sales Channel, 2021 E
Figure 20: Latin America Instant Soup Market Y-o-Y Growth Rate by Sales Channel, 2021-2031
Figure 21: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Sales Channel, 2021-2031
Figure 22: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Sales Channel, 2021-2031
Figure 23: Latin America Instant Soup Market Value Share Analysis by Country, 2021 E
Figure 24: Latin America Instant Soup Market Y-o-Y Growth Rate by Country, 2021-2031
Figure 25: Latin America Instant Soup Market Value (US$ Mn) Analysis & Forecast by Country, 2021-2031
Figure 26: Latin America Instant Soup Market Volume (Tons) Analysis & Forecast by Country, 2021-2031
Figure 27: Latin America Instant Soup Market Attractiveness Analysis by Country, 2021-2031
Figure 28: Latin America Instant Soup Market Attractiveness Analysis by Nature, 2021-2031
Figure 29: Latin America Instant Soup Market Attractiveness Analysis by Form, 2021-2031
Figure 30: Latin America Instant Soup Market Attractiveness Analysis by Source, 2021-2031
Figure 31: Latin America Instant Soup Market Attractiveness Analysis by End Use, 2021-2031
Figure 32: Latin America Instant Soup Market Attractiveness Analysis by Sales Channel, 2021-2031
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Instant Soup Market
