Refrigerated & Frozen Soup Market Size, Share, Growth, and Industry Analysis, By Type (Refrigerated Soup & Frozen Soup), By Channel (Retail, Foodservice, & Others) and Regional Forecast to 2033

REFRIGERATED & FROZEN SOUP MARKET REPORT OVERVIEW

Refrigerated & Frozen Soup Market was valued at USD 1322.65 million in 2024 and is expected to reach USD 1448.30 million in 2025, growing to USD 3008.1 million by 2033, with a CAGR of 3.9% during the forecast period.

Refrigerated and frozen soups include new-generation soups that are ready to eat and are either stored chilled or frozen. These products are meant to be easy meals to have and also have nutritional qualities and the taste of the ingredients they come with. The soups can be prepared from vegetables, meats, grains, and virtually any other ingredient which is preferred by different consumers The soups come in different flavors to reach the consumer’s palate. The global refrigerated and frozen soup market reels through sales of consumer packs available from supermarkets speciality stores and food service channels.

The refrigerated and frozen soup market has seen a growth trend in the last few years due to changing consumer preferences and busy lifestyles towards convenient, ready-to-consumer and healthy meals. This market segment includes chilled soups and frozen soups, so that the consumer has the benefit of s longer shelf life of the product but still buys and/or consumes a soup with fresh and high-quality ingredients. The convenience factor added to growing consciousness about healthy eating has made these products more accepted by the populace especially the working population in urban areas. It can be described as a great number of types of products, and packets and a shift toward natural products without the use of artificial stabilizers and preservatives.

COVID-19 Impact

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The lockdowns that resulted from the COVID-19 situation greatly increased the refrigerated and frozen soup market as consumers looked for fresh food that could stay for an extended period. It rose because the pandemic had more consumers cooking at home, consuming ready-to-cook and, mainly, shelf-stable products. The shift toward healthier and convenience provide another factor that added to the growth in this category. However, interruptions of the supply chain and changes in the preferences of the population became problems which stimulated the development of changes in the specified sphere.

LATEST TRENDS

Health and Wellness Focus Drive Market Growth

The latest trend in the global Refrigerated & Frozen Soup market is the Health and Wellness Focus. Modern tendencies towards the conscious consumption of healthy food are to support the development of the refrigerated and frozen soup market. Customers look for easy-to-prepare meals that are easy on their health; hence, soups prepared from natural healthy ingredients are preferred. They include low-sodium, organic, gluten-free and other similar products that are popular in the current society. This in turn has spurred the demand for refrigerated and frozen soups since they are believed to be fresher and contain no preservatives than canned soups.

REFRIGERATED & FROZEN SOUP MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Refrigerated Soup & Frozen Soup.  

• Refrigerated Soup:  There is a trend of soups preserved by refrigeration because of their natural and healthy image, which makes them part of the elite sector. They are favorable in the market, especially with people who consider their health important and prefer prepared meals that have a homemade look.

• Frozen Soup: Frozen soups are convenient in that they have a long shelf-life but they also do not compromise on flavour or nutrition. This is the reason most people prefer pasta as it comes in so many types and can be prepared in so many ways hence, it is perfect for big families and those who make large purchases to prepare many meals in the long run.

By Channel

Based on application the global market can be categorized into Retail, Foodservice, & Others.

• Retail: In the retail channel the refrigerated and frozen soups can easily be accessed from supermarkets and specialty stores for the normal consumer. They target consumers who in some way need quick meals since they do not necessarily have to sacrifice service quality and taste.

• Foodservice: In the food service industry, refrigerated and frozen soups are common delicacies offered in restaurants, cafeterias, and caterers. They are useful to chefs and food operators as they offer a consistent source of good quality, appetizing food which is easy for them to prepare.
•  Others: In the “Others” segment, the company has broad categories of online sales and direct selling consumer trends associated with the delivery of products directly to the consumer’s doorstep. This channel is growing especially with the ever-growing market for health-oriented subscription-based platforms.

DRIVING FACTORS

Growing Demand for Ready-to-heat Meals Boosting Growth

One of the key driving factors in the global Refrigerated & Frozen Soup market growth is the Growing Demand for Ready-to-heat Meals. The altered patterns of life and unavailability of time are forcing consumers to shift towards convenience foods such as ready-to-heat meals. This will further be important in the process of increasing the refrigerated and frozen soup market. Refrigerated or frozen soups as a type of ready-to-heat meal or readymade soups are convenient to cook which is why they can help consumers to save time and effort. These soups also take a long time before expiring and this makes them some of the most preferred by the consumers.

Changing Consumer Lifestyle Expand the Market

Another driving factor in the global Refrigerated & Frozen Soup market is the Changing Consumer Lifestyle. The increase in refrigerated and frozen soup markets is on the rise due to changes in consumers’ lifestyles as more and more people want convenience, also focus on health is increasing so people prefer having soup instead of other heavy meals. Schedules compel individuals to run towards foods which bring healthy quick and obvious trends. There are also concerns with the freshness and quality of the food and thus preferred options are those that carry a refrigerated section. Also, more recent trends like the increased popularity of plant and organic products are compelling brands to come up with a variety of unique and healthy soups that will increase consumer demand even further.

RESTRAINING FACTORS

Shelf-Life Limitations and Consumer Perception Potentially Impede Market Growth 

One of the key restraining factors in the global Refrigerated & Frozen Soup market is the Shelf-life limitations and consumer perception. Refrigerated and frozen soup is strongly affected by shelf-life and consumer perception which acts as a strong constraint. This results in a shorter shelf life, thus retailers and consumers prefer products with longer shelf life rather than going for products with shorter shelf life since they are more expensive to produce due to the losses incurred as a result of spoilt stock. Also, certain consumers consider frozen and refrigerated soups to be less fresh or nutritious than those which are on the shelf or homemade soups. All these factors combine to slow the growth of the market and restrain customer take-up and the growth prospects of these easy soup solutions.

OPPORTUNITIES

Consumer Perception of Frozen Foods 

Frozen foods, including soups, are often perceived as convenient and capable of retaining nutritional value. A study published in the International Journal of Environmental Research and Public Health highlights that consumer willingness to pay for frozen products is influenced by their perception of quality and safety, indicating a market potential for high-quality frozen soups.

Advancements in Food Preservation Technologies

 Innovations in food preservation, such as hyperbaric storage, have shown promise in maintaining the quality and extending the shelf life of ready-to-eat soups. Research indicates that hyperbaric storage at 25°C and 30°C effectively preserves the microbial and physicochemical quality of soups, offering potential benefits for the refrigerated soup market.

CHALLENGES

Consumer Practices Affecting Product Quality

Improper handling and storage of refrigerated and frozen foods by consumers can compromise product quality and safety. A study published in Italian Journal of Food Safety reveals that consumers often lack awareness about proper cold chain management, which can lead to temperature abuses during purchase, transport, and home storage of frozen products, including soups.

Perceived Inferiority and Storage Limitations

Frozen foods have historically faced perceptions of inferiority compared to fresh products. Additionally, the requirement for adequate freezer space can be a limitation for consumers. Research from the Journal of Marketing notes that inexperience in the frozen food industry and lack of refrigerated facilities along the marketing channel have contributed to perceptions of inferiority.

REFRIGERATED & FROZEN SOUP MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

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North America Region Dominating the Market Due to Presence of a Large Consumer Base

North America has emerged as the most dominant region in the global Refrigerated & Frozen Soup market share due to several factors. The high penetration of cold chains, combined with the growing demand for convenient and healthy foods, and the rather large population of consumers interested in healthy refrigerated and frozen products in North America are among the key factors that facilitate increased sales of refrigerated and frozen soup in this region. The largest processors of foods in the U. S. and Canada have taken advantage of these trends by preparing an array of novelty soups to meet consumers’ new preferences. Also, elaborate distribution channels mean that these products are easily accessed further augmenting North America’s dominance in the market.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market Through Investing in Healthy Products, New Tastes and Convenient Packaging

The Refrigerated & Frozen Soup market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. Stakeholders in the refrigerated and frozen soup industry are positively influencing the market through consumer-friendly nutritious content, a variety of flavors, and packaging adjustments. To meet the consumers’ increasing needs for healthy products, new forms of soups, such as organic, plant-based or low-sodium soups, are being launched on the market. Further, they are adopting a technological freezing process to preserve the taste as well as the quality of their products. Marketing to the customers coupled with the retailer relationships and lifestyle marketing are also other factors that have boosted the growth of these products making them easily available to these groups of people.

List of Top Market Players Profiled

• Blount Fine Foods (United States)
• Campbell Soup Company (United States)
• Kettle Cuisine (United States)
• Tabatchnick (United States)
• Conagra Foods (United States)
• Ivar's Soup & Sauce Company (United States)
• The Schwan Food Company (United States)
• SpringGlen Fresh Food (United States)
• Boulder Organic Foods (United States)
• Amy's Kitchen (United States)
• Progresso (United States)
• Kraft Heinz (United States)
• Nestle (Switzerland)

INDUSTRIAL DEVELOPMENT

March 2024: Campbell Soup Company completed the acquisition of Sovos Brands, Inc., a North America-based company that offers dry pasta, frozen pizza, frozen entrees, soups, and yogurt.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.