Soup is set to experience overall declining demand through retail in 2021, after recording a significant increase in 2020 directly linked to home seclusion. Chile witnessed one of the strictest lockdowns in the world, forcing consumers to spend prolonged periods of time at home.
In the wake of the pandemic, an increasing number of Chileans have prioritised eating healthier food which contains fewer added ingredients, which is influencing their decision making when choosing a suitable product. Consequently, reduced salt soup has been gaining in popularity.
The average unit price of soup continued to rise in 2021 at a rate higher than inflation, with some signs of increasing premiumisation within the category. On the one hand, shelf stable soup brand Wasil launched products with the claim “receta casera” (home-made recipe) with no preservatives, offered in practical Tetra Pack.
Despite performing well during the pandemic, soup is anticipated to experience a further decline in demand through retail in the early part of the forecast period. The main reason for this will be due to an increasing number of Chileans returning to their pre-pandemic lives as restrictions continue to be eased.
With general demand trends in packaged food broadly favouring perceived more natural products that are free from artificial ingredients, the forecast period is likely to see local consumers increasingly attracted to products with a more natural positioning. The pandemic has heightened health and wellness awareness amongst Chileans, and they are therefore more likely to be increasingly cautious in their food choices, and the ingredients that these contain.
Shelf stable soup is expected to expand over the forecast period, with an increasing number of products offering natural ingredients, new sophisticated flavours, and brick liquid cartons as packaging, which are recyclable. The trend for working from home is expected to remain at least in the short term or as part of a hybrid working pattern, which will favour this development because of the convenience these products provide.
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Understand the latest market trends and future growth opportunities for the Soup industry in Chile with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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If you're in the Soup industry in Chile, 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.
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