Soups - Togo | Statista Market Forecast

Revenue in the Soups market amounts to US$2.92m in 2024. The market is expected to grow annually by 3.51% (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$0.32 are generated in 2024.
In the Soups market, volume is expected to amount to 990.80k kg by 2029. The Soups market is expected to show a volume growth of 1.1% in 2025.0.
The average volume per person in the Soups market is expected to amount to 0.1kg 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 in Togo is seeing minimal growth, influenced by factors like low health awareness and limited availability of online services. Despite this, convenience and diverse options drive demand for soups in the Convenience Food Market within The Food market, showcasing potential for future growth.

Customer preferences: Consumers in Togo are showing a growing preference for convenient and ready-to-eat soups, driven by busy lifestyles and a desire for convenience. This trend is also influenced by the increasing urbanization and modernization of the country, as well as the influence of Western culture. As a result, there has been a rise in the demand for instant and portable soups, as well as the incorporation of local flavors and ingredients in these products. This shift towards convenient soups is also reflected in the increasing availability of soup products in supermarkets and convenience stores, catering to the on-the-go needs of consumers.

Trends in the market: In Togo, the Soups Market of the Convenience Food Market within The Food market is experiencing a surge in demand for healthier and more convenient options. This is driving the trend of incorporating local and traditional ingredients into soups, as well as offering organic and gluten-free options. The trajectory of this trend is expected to continue as consumers become more health-conscious and seek out convenient yet nutritious meal options. This presents an opportunity for industry stakeholders to tap into the growing demand for healthier soups and expand their product offerings to cater to this market segment. Additionally, with the rise of e-commerce and online food delivery services in Togo, there is potential for the Soups Market to reach a wider audience and increase sales.

Local special circumstances: In Togo, the Soups Market of the Convenience Food Market within The Food market is heavily influenced by the country's hot and humid climate. As a result, chilled and ready-to-eat soups are popular among consumers seeking quick and refreshing meal options. Additionally, Togo's fast-paced lifestyle has led to a rise in demand for convenience foods, driving the growth of the soups market. Furthermore, Togo's regulatory landscape, which favors locally sourced ingredients, has led to the emergence of unique and flavorful soup varieties in the market.

Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is influenced by macroeconomic factors such as consumer spending power, government policies, and global economic conditions. In Togo, the market is driven by a growing population and rising disposable income, leading to increased demand for convenient and affordable food options. Additionally, favorable government policies promoting foreign investment and trade agreements with other countries have opened up opportunities for international players in the market. However, challenges such as inflation, currency fluctuations, and political instability can impact market growth. Overall, the market is expected to experience steady growth due to improving economic conditions and increasing consumer demand for convenient food options.

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.