The Middle East & Africa canned soup market is expected to grow from US$ 250.04 million in 2019 to US$ 313.06 million by 2027; it is estimated to grow at a CAGR of 3.0% from 2020 to 2027.
Soups are a nutritional source of minerals, vitamins, and proteins due to which the demand for soups is increasing across Middle East & Africa. Canned soup is basically ready-to-eat or packed soup that can be made in an oven or microwave by heating the product at a certain temperature. Advancement in food and packaging technology and increased variety of organic canned soup have increased the demand for canned soups across the region. Various types of cuisines such as regional quince and exotic quince are available in the Middle East & Africa canned soups market. Also, a few varieties of cuisines such as Indian, Italian, and Chinese are emerging significantly in the market, which would create substantial growth opportunities for canned soups products industry during the forecast period. High levels of activity and interest in product development fueled by consumers demand for different flavored canned soups have led to the growth of the market. Canned soup manufacturers also launched different varieties such as healthy choice, low-fat versions, vegetarian products, cuisines, and new flavors, to satisfy the more affluent, discerning and variety seeking consumer. This is also expected to offer growth opportunities for canned soups products in the market during the forecast period.
Based on type, the Middle East & Africa canned soups market is bifurcated into condensed and ready-to-eat. In 2019, the condensed segment led the market. A wide variety of seasonings and foods are utilized to make condensed soup with high nutritional value. Meat such as chicken and beef is used as an ingredient to make soup stock. Vegetables such as broccoli, cabbage, green beans, corn, lima beans, okra, peas, tomatoes, white potatoes, and onions are employed in the making of canned soupsGrains such as noodles, barley, and rice. Flavoring and spices include allspice, celery seed, bay leaves, cloves, parsley, curry powder, pepper, sugar, thyme, and salt are also used,Mashed and flour sweet potatoes are utilized as thickeners. Soybean and vegetable oil is used as a coating agent to prevent spillovers during the cooking process. Condensed canned soup products are a concentrated source of protein as well as calcium, which plays a vital role in building blocks of the human body. Health benefits associated with the consumption of the condensed canned soup is expected to drive the growth of the canned soup market for condensed soup segment.
The canned soups market in Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the rest of the Middle East & Africa. The meat industry is one of the fastest-growing industries across Middle East & Africa owing to the increased demand for varieties of poultry meat products in the region. Growing markets such as Dubai, Abu Dhabi, Iran, Iraq, Yemen, and Iran are expected to expand and stimulate the demand for non-veg canned soups. New investments and better marketing strategies have helped the companies to capture of market share in the Middle East & Africa. Middle East countries such as Saudi Arabia, Kuwait, and the UAE have experienced a shift in the socio–economic condition, food eating habits, lifestyle and economic status, and health patterns in the past four decades due to the increase in income owing to accumulated oil revenues. These countries are known for their secure financial status; therefore, the adoption of canned soups in increasing in these countries. Canned soup is estimated to have a growing opportunity in the Middle East and Africa owing to its rising demand from the residential and HORECA sectors.
Campbell Soup Company, General Mills Inc., The Kraft Heinz Company, Unilever, and Hain Celestial Company are among the players operating in the Middle East & Africa canned soups market.
The COVID-19 pandemic has been hindering economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdowns in the food & beverages industry and disruptions in supply chains are restricting the supplies of various products. South Africa reported the highest number of confirmed cases across Middle East & Africa. The shutdown of many food processing plants during lockdown is restraining the growth of the canned soups market in the region.
The overall Middle East & Africa canned soups market size has been derived in accordance to both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Middle East & Africa canned soups market