The Potato Soup Market is projected to grow at a CAGR of 8.9% during the forecast period, to reach a value of USD 1.7 Billion by 2032. The global potato soup demand is projected to grow year-on-year (Y-o-Y) growth of 8.2% in 2022.
| Attribute | Details |
|---|---|
| Potato Soup Market Size Value in 2022 | USD 700 Million |
| Market Forecast Value in 2032 | USD 1.7 Billion |
| Global Growth Rate (2022 to 2032) | ~ 8.9% CAGR |
| Forecast Period | 2022 to 2032 |
| Collective Value Share: Top 3 Countries (2021A) | 44.2% |
To increase their revenue, potato soup brands must adapt and evolve by offering different soup flavours and keep them coming back to the brands. From Mediterranean flavours with pancetta and Italian tomato to flavours of honey and spiced parsnip, consumers are inclining towards exotic-flavoured potato soup.
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Potato soup demand grew at 8.9% CAGR between 2017 and 2021, according to Future Market Insights (FMI). According to the study, almost 70% of potato soup consumers would pay more for fresh and ready-made soup than that spending time making soups on their own. Hence, potato soup can help in delivering both time and nutrition.
On the back of these factors, the demand for potato soup is further projected to grow at CAGR worth 7.7% over the forecast period (2022 to 2032). The potato soup market along with baked potato soup, fresh potato soup, flavored potato soup, powdered potato soup, ready to cook potato soup, are projected to reflect a favorable growth outlook in terms of revenue, according to Future Market Insights.
Rising Organic Potato Soup Sales to Boost the USA Potato Soup Market
The use of different organic ingredients in potato soup, such as organic leeks, organic fire-roasted sweet potatoes, organic coconut milk, organic green lentils, and others is gaining traction in the USA.
Hence, brands like Amy's Kitchen combines all the aforementioned organic items in the Thai Curry Sweet Potato Lentil Soup to make it delicious and to deliver dairy-free and gluten-free product.
Inclusion in Traditional Miso Soup Is Propelling Potato Soup Demand in Japan
Japanese miso soup, a flavourful soup broth, is made with dashi and fresh ingredients to reflect the flavors of the season and are very popular staple soup in Japanese cuisine. The traditional soup is now being experimented with in different broth items, among which onion and potato soup broths are the common items. The popular soup is prepared by adding soy sauce and dashi to a mashed buttery potato broth and then, infusing them together.
Potato Soup Sales to Surge as a Serving in Universities and Healthcare Facilities
In the UK, several potato soup companies, such as The Real Soup Co., provide great-tasting fresh soup to consumers. These are crafted in small batches for convenience and out-of-home markets.
Along with supermarket and online retail shops, potato soup is being served to universities and healthcare facilities as well as authentic flavors to keep menus interesting and diverse. Further, the soup contains FSA salt guidelines and are vegan, vegetarian, and allergen-free product.
While the potato soup is available on university campuses, such as the University of Southampton, Staffordshire University, and others, the brand has partnered with NACC and HCA to provide the creamy textured soup to the healthcare systems in the UK These soups are made available for the patients who suffer from dysphagia, experience loss of appetite, or with swallowing difficulties.
Baked Potato Soup to Remain Highly Sought-After Among Consumers
Baked potato soup with no artificial sweeteners, preservatives, colours, or flavours is in demand, be it uncured and smoked bacon in a rich creamy potato paste or russet potatoes. These are home-style cuts and simmered with select seasonings.
Baked potato soup is not only a delicious dish among consumers, but also a crowd-pleaser on its own as a delicious ingredient in pot pie crust or potatoes ‘au gratin’.
Burgeoning Demand for Ready-to-Cook Meals to Propel Potato Soup Production
Potato soup is gradually becoming a popular food option for caterers, making the product a versatile menu option all year round, specifically when suppliers are relying on more diverse flavours now to choose from.
Further, with the growing demand for a value-added meal which is affordable and convenient to consume, the sales of ready-to-cook potato soup will offer a profitable and quick option for them.
Key potato soup manufacturers are looking for capturing the market with joint ventures, partnerships, mergers, and acquisitions. Further, top potato soup brands are focusing on upgraded and modified products with rising demand for new formulations from the food and beverage industry.
For instance,
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| Attribute | Details |
|---|---|
| Market Size Value in 2022 | USD 0.7 Billion |
| Market Forecast Value in 2032 | USD 1.7 Billion |
| Global Growth Rate | 8.9% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | MT for Volume and USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia, South Asia, Oceania, and MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, Chile, Peru, Germany, France, Italy, Spain, UK, 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 | Product Type, Packaging Type, Flavor, Product Format, Usage Format, Sales Channel, and Regions |
| Key Companies Profiled | Campbell Soup Company; King Arthur Baking Company; Dylan's; Bear Creek® (B&G Foods, Inc.); Idahoan Foods, LLC; Progresso (General Mills); Amy's Kitchen, Inc.; Knorr (Unilever Plc); The Real Soup Co.; Kettle Cuisine, LLC; Fresh Fayre (Fresh Direct Limited); Panera Bread; Others |
| Pricing | Available upon Request |
The potato soup market is estimated to reach sales nearly USD 0.7 Billion by 2022.
Potato soup market revenue is expected to increase at a CAGR of around 8.9% during the period 2022 to 2032.
Potato soup sales increased a CAGR of around 7.7% over the past half-decade.
The global potato soup market value will be around USD 1.7 Billion in 2032.
Campbell Soup Company, King Arthur Baking Company, Dylan's, Bear Creek® (B&G Foods, Inc.), and Idahoan Foods, LLC are a few among the top players driving the market growth.
Top countries driving the potato soup demand are the USA, Japan, UK, China, and Thailand.
High product demand from food service industry, soaring production of raw material, tasty and convenient product form are the factors driving growth of potato soup market.
| Market Size Value in 2023 | USD 2.1 billion |
|---|---|
| Market Forecast Value in 2033 | USD 4.5 billion |
| Global Growth Rate (2023 to 2033) | 7.9% CAGR |
| Market Size (2023) | USD 2.42 billion |
|---|---|
| Market Size (2033) | USD 4.74 billion |
| Market CAGR (2023 to 2033) | 7% |
| Market Share (2023) | USD 60,887 million |
|---|---|
| Market Share (2033) | USD 104,348.9 million |
| Market CAGR (2023 to 2033) | 6% |
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