Soups - Central America | Statista Market Forecast

Revenue in the Soups market amounts to US$486.20m in 2024. The market is expected to grow annually by 5.35% (CAGR 2024-2029).
In global comparison, most revenue is generated Indonesia (US$10bn in 2024).
In relation to total population figures, per person revenues of US$9.20 are generated in 2024.
In the Soups market, volume is expected to amount to 98.16m kg by 2029. The Soups market is expected to show a volume growth of 2.7% in 2025.0.
The average volume per person in the Soups market is expected to amount to 1.7kg in 2024.

Definition:

The Soups market covers any type of soup that is ready for consumption immediately after purchase or after heating. These soups require minimal preparation by the consumer and included instant soups that typically come in powdered form and broth or liquid soups that are purchased in prepared form such as tinned soups.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Dehydrated soup
Tinned and other packaged soup
Broth
Canned soups and stews
Fondue soup
Frozen soups, Instant miso soup

Other ready-to-eat meals
Out-of-home consumption

The Soups Market within the Convenience Food Market in Central America is experiencing minimal growth due to factors such as low consumer awareness and limited access to online services. Despite this, the market is expected to increase due to the convenience and increasing health consciousness among consumers.

Customer preferences: In Central America and Soups Market of the Convenience Food Market within The Food market, consumers are increasingly looking for convenient and healthy options, leading to a rise in demand for organic and plant-based soups. This trend is driven by a growing awareness of the health benefits of plant-based diets and a desire for sustainable and environmentally-friendly food choices. Additionally, there is a shift towards ready-to-eat soups and soups with added functional ingredients, such as immune-boosting herbs and spices, to cater to the busy and health-conscious consumer.

Trends in the market: In Central America and Soups Market of the Convenience Food Market within The Food market, there is a growing trend towards healthier and more convenient options. This includes an increase in demand for organic and plant-based soups, as well as soups with added functional benefits such as immune-boosting ingredients. Additionally, there is a shift towards more sustainable packaging and production methods, as consumers become more environmentally conscious. These trends are significant as they cater to evolving consumer preferences and are expected to drive growth in the industry. Industry stakeholders should take note of these trends and adapt their products and marketing strategies accordingly to remain competitive.

Local special circumstances: In Central America, the Soups Market of the Convenience Food Market within The Food market is influenced by the region's diverse culinary traditions and growing demand for convenience. In countries like Costa Rica and Panama, the market is driven by the popularity of traditional soups like Sopa Negra and Panamanian Sancocho. In contrast, in countries like Guatemala and El Salvador, a growing number of busy professionals are turning to ready-to-eat soups as a time-saving solution. Additionally, in countries with high tourism rates, such as Belize and Honduras, the market is shaped by the demand for international and fusion flavors in soups. These unique factors highlight the need for targeted marketing strategies and product differentiation in the Soups Market of the Convenience Food Market within The Food market in Central America.

Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is heavily influenced by macroeconomic factors such as disposable income, consumer spending habits, and economic stability. Countries with strong economic growth and stable political environments tend to have a higher demand for convenience foods, including soups. Additionally, fluctuations in currency exchange rates, inflation, and interest rates can impact the affordability and purchasing power of consumers, ultimately affecting the performance of the market. Furthermore, government policies, such as import/export regulations and trade agreements, can also impact the availability and pricing of convenience food products, including soups.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.