Growth in soups is set to slow dramatically in 2021, with volume sales going into slight decline. There are a number of reasons for this.
Instant soup continues to generate the largest part of the category in value terms, although less in volume terms than dehydrated soups. This reflects the higher price points of the former, and unsurprisingly the category therefore continues to see more focus from producers, with greater innovation helping support higher margins.
The soups category remains relatively concentrated, with value share protected by high levels of consumer familiarity with leading brands. Avrora Ltd.
The slowdown in growth in 2021 is a reflection of sales stabilisation following the spike in demand in 2020 caused by stockpiling, and soups are expected to continue to grow over the forecast period. Consumer demand for convenience will be the main driver, but improving macroeconomic stability and rising employment as the country emerges from the economic impact of the pandemic will also be a factor.
Domestic production of soups remains insignificant, thanks to the complexity of the production process and operational expenditures of setting up a manufacturing business in Azerbaijan. Demand for soups is not strong enough to encourage local investors, and margins are too low to make it profitable.
Consumers are becoming better educated about nutrition and more health aware in the wake of the pandemic, and cautiousness among local consumers regarding the negative nutritional image of dehydrated soup may become a threat to ongoing growth in Azerbaijan. New product innovation will increasingly need to address this perception, with manufacturers expanding their portfolio of packaged soups to include variants that contain only natural ingredients or at least a reduction in artificial ingredients.
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Soup industry in Azerbaijan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Soup industry in Azerbaijan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Soups is the aggregation of dried (dehydrated formats), shelf stable and chilled and frozen soups. Includes: Ready-made, pre-packaged soup, regardless of format. Excludes: Liquid stocks and or stock/bouillon cubes. These are tracked in sauces, dressings and condiments, under cooking ingredients. Herbal soup mixes common in Asia are also excluded.See All of Our Definitions
This report originates from Passport, our Soup research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!