The Fish Soup market is expected to grow from a valuation of USD 1,678.9 Million in 2023 to USD 2,607.3 Million by 2033 growing at a lucrative CAGR of 4.5% over the next decade.
Key Trends Listed by Future Market Insights (FMI):
Soup ranks in the first position when it comes to instant food products. Soup is one of the most preferred instant foods by consumers as it not only serves as an appetizer but in many cases also as an entire meal as it is filling and full of nutritional ingredients that are relatively easy to digest. Additionally, a growing number of working women in society has seen a shift in consumer preferences towards easy and convenient foods at home.
Modern-day consumers have an increased preference for seafood products with traceability credentials, freshness, and quality. FMI study suggests that the instances of consumers buying fish soup are expected to increase in the coming years owing to these reasons. Today, consumers have a mindset of choosing sustainable options. This has also helped local businesses and small enterprises experience a rise in the sale of fish soup as they have a lower environmental impact and align with individual values of consumers like ‘reduced carbon footprint’, ‘recyclable packaging’, and ‘sustainable farming of fish’ for fish soup production.
| Attributes | Key Insights |
|---|---|
| Estimated Global Fish soup Market Size (2023E) | USD 1,678.9 million |
| Projected Fish soup Market Value (2033F) | USD 2,607.3 million |
| Value-based CAGR (2023 to 2033) | 4.5% |
| Top 3 Countries’ Value | USD 1,133.3 million |
| Top 3 Countries’ Share | 67.5% |
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| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 4.9% |
| Jul to Dec (H2), 2021 (A) | 5.3% |
| Jan to Jun (H1), 2022 Projected (P) | 3.9% |
| Jan to Jun (H1), 2022 Outlook (O) | 4.1% |
| Jul to Dec (H2), 2022 Outlook (O) | 4.9% |
| Jul to Dec (H2), 2022 Projected (P) | 4.5% |
| Jan to Jun (H1), 2023 Projected (P) | 5.0% |
| BPS Change: H1, 2022 (O) to H1, 2022 (P) | 40 |
| BPS Change: H1, 2022 (O) to H1, 2021 (A) | -82 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | -44 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | -43 |
According to the Future Market Insights (FMI) analysis, global Fish soup sales grew at a CAGR of 5.8% from 2018 to 2022. For the next ten years, the worldwide market for Fish soup is forecast to progress at 4.5% CAGR over the next decade of 2023 to 2033.
Fish and seafood have a lower fat content and are good sources of protein that provide a range of health benefits. Lower fat content in White-fleshed fish like cod, haddock, trout, tilapia, and many more are widely used to make fish soup. Seafood is also a good source of omega-3 and omega-6 fatty acids that help in maintaining mental and physical health. Seafoods’ strong association with multiple health and nutritional benefits has a strong potential as a viable alternative for the majority of conventional exhaustible resources widely in use today.
Principal Consultant
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 3.5% |
| BPS Analysis | -108 |
| Market Value (2033) | USD 967.3 million |
| Region | Europe |
|---|---|
| Country | Germany |
| CAGR | 6.3% |
| BPS Analysis | -223 |
| Market Value (2033) | USD 636.1 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 5.8% |
| BPS Analysis | -33 |
| Market Value (2033) | USD 239.8 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 6.2% |
| BPS Analysis | -390 |
| Market Value (2033) | USD 203.3 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 7.0% |
| BPS Analysis | 122 |
| Market Value (2033) | USD 159.0 million |
As per Future Market Insights, demand for fish soup in China is expected to grow from a valuation of USD 97.4 Million in 2023 to USD 159.0 Million by 2033 at a lucrative CAGR of 7.0% over the next decade (2023 to 2033)
Fish soup is widely consumed in China as it is considered nutritionally rich and is a good source of essential nutrients, particularly for lactating women. It is widely consumed in China as a part of the postpartum confinement diet. The fish soup contains high-quality proteins and other essential nutrients such as fatty acids.
A comprehensive study conducted by FAO and WHO on the risks and benefits of fish consumption stated that moderate consumption of fish is recommended. The study also stated that the benefits of regular consumption of fish overweighed the risks of the same.
On the contrary, tuna, alfonsino, shark, swordfish, and other predator fish may contain high levels of methylmercury. Predator fish consume mercury found in smaller fish which builds up in their body and bloodstream. High consumption of mercury can lead to muscle weakness, fatigue, and dizziness which can damage the kidneys and liver.
The growing popularity of seganism (which basically means someone who follows a vegan diet but also eats sustainably sourced fish and seafood) is also one of the major factors driving the fish soup market.
The USA Department of Agriculture (USDA) recommends the consumption of two servings of seafood per week
According to FMI analysis, the United States Fish soup industry is poised to exhibit a CAGR of 5.8% during the assessment period. By 2033, the United States market size is expected to reach USD 2,607.3 million by 2033.
As the demand for processed food products rises in developed regions like the USA the sale of fish soup is expected to rise over the forecast period. Increased number of working population, fast-paced lifestyles, and increasing urbanization have resulted in the rise in demand for processed food products across the United States. Owing to the ease of cooking, and availability of products via retail sales fish soup is expected to have a lucrative growth over the decade.
Demand for ready-to-eat soup has experienced a surge in demand over the last couple of years due to its increased sale via online platforms. After the pandemic, consumers’ reliance on online shopping platforms in regions that are heavily populated like India and China grew manyfold. Moreover, there was an increase in consumers’ inclination towards clean-label and organic products.
Ready-to-eat soups are considered effective remedies for consumers suffering from cold and cough as it is easy to digest and rich in nutrients that help boost immunity. Moreover, the availability of multiple flavors and unique combinations of soups has also attracted a lot of consumer base. This coupled with the additional benefits of fish soup is expected to drive the growth of the market over the next decade
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The competitive landscape of Fish soup is dynamic and constantly evolving as the demand for sustainable and cost-effective feed options continues to grow. Several factors influence the competitiveness of Fish soup, including availability, cost, nutritional value, market acceptance, and regulatory considerations.
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 1,678.9 million |
| Market Forecast Value in 2033 | USD 2,607.3 million |
| Anticipated Growth Rate (2023 to 2033) | 4.5% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Volume (MT) and Value (USD Million) |
| Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Form, Format, Packaging, Sales Channel, and Region |
| Key Companies Profiled | Campbell’s; Bar Harbour; Progresso; Baxters; Amy’s kitchen; Pacific Foods; Chef’s Cupboard; Hale and Hearty; Kettle Cuisine; Bear Creek |
The projected revenue of the market by 2033 is USD 2,607.3 million.
The market CAGR for 2033 is projected to be 4.5%.
The market is valued at USD 1,678.9 million in 2023.
North America holds the largest market share.
The North American market is growing remarkably fast due to the increasing demand for healthy food options.
1. Executive Summary 2. Market Overview 3. Market Dynamics 4. Value Chain Analysis 5. Global - Pricing Analysis 6. Global Market Size (in Value (USD Million) and Volume (MT) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 7.1. Dried 7.2. Liquid 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Format 8.1. Ready-to-eat 8.2. Ready-to-cook 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Packaging 9.1. Canned 9.2. Pouched 9.3. Other Packaging 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 10.1. Hypermarkets/Supermarkets 10.2. Convenience Stores 10.3. Specialty Stores 10.4. Departmental Stores 10.5. Online Retail 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. East Asia 11.5. South Asia 11.6. Oceania 11.7. MEA 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Country-level Seaweed Algae Market Analysis 20. Market Structure Analysis 21. Market Structure Analysis 22. Competition Analysis 22.1. Campbell’s Soup 22.2. Bar Harbour 22.3. Progresso 22.4. Baxters 22.5. Amy’s kitchen 22.6. Pacific Foods 22.7. Chef’s Cupboard 22.8. Hale and Hearty 22.9. Kettle Cuisine 22.10. Bear Creek 22.11. Other Players (On Additional Requests) 23. Assumptions and Acronyms Used 24. Research Methodology
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