Market Insights Consumer Food Convenience Food

Soups - Ethiopia

Ethiopia

Revenue in the Soups market amounts to US$42.82m in 2024. The market is expected to grow annually by 17.72% (CAGR 2024-2029).
In global comparison, most revenue is generated in Indonesia (US$10,110m in 2024).
In relation to total population figures, per person revenues of US$0.32 are generated in 2024.
In the Soups market, volume is expected to amount to 11.25m kg by 2029. The Soups market is expected to show a volume growth of 4.0% in 2025.
The average volume per person in the Soups market is expected to amount to 0.1kg in 2024.

Key regions: United Kingdom, Russia, Philippines, United States, Spain

Market

Region

Region comparison

Currency

Analyst Opinion

The Soups Market in the Convenience Food Market of Ethiopia is experiencing mild growth due to factors such as the increasing adoption of convenience food, rising health awareness among consumers, and the convenience offered by online food services.

Customer preferences: As consumer lifestyles become busier and more fast-paced in Ethiopia, there has been a rise in demand for convenient meal options, leading to a growth in the Soups Market of the Convenience Food Market within The Food market. This trend is fueled by a growing preference for ready-to-eat meals that require minimal preparation time. Additionally, with the increase in urbanization and a rise in dual-income households, there is a higher demand for quick and easy meal solutions, making convenience food a popular choice among consumers.

Trends in the market: In Ethiopia, the Soups Market of the Convenience Food Market within The Food market is experiencing a shift towards healthier options, as consumers become more health-conscious. This trend is driven by the increasing availability of locally sourced, organic ingredients and a growing demand for plant-based products. Additionally, there is a rising interest in traditional Ethiopian soups, such as shiro and kik alicha, which are known for their nutritional benefits. These trends have significant implications for industry stakeholders, as they must adapt their product offerings to cater to changing consumer preferences. Companies that successfully tap into these trends are likely to gain a competitive edge in the market.

Local special circumstances: In Ethiopia, the Soups Market of the Convenience Food Market within The Food market is heavily influenced by the country's agricultural sector, with a large portion of the population relying on farming for their livelihood. This leads to a strong emphasis on locally sourced ingredients in soups, with a focus on traditional flavors and cooking methods. Additionally, the country's diverse cultural heritage plays a role in shaping the variety of soups available, with regional specialties and ingredients varying across different ethnic groups. Government regulations also impact the market, with restrictions on food imports creating a demand for locally produced soups.

Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is also influenced by macroeconomic factors such as consumer spending patterns, disposable income levels, and government policies on food safety and import regulations. Countries with stable economic conditions and high disposable incomes are experiencing higher demand for convenience food products, including soups. Additionally, factors such as population growth, urbanization, and changing dietary habits are also contributing to the growth of the convenience food market, including soups, in Ethiopia.

Methodology

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.