Due to COVID-19, soup experienced stronger retail volume and current value growth in 2020, although some of the current value growth was attributed to more sharply increasing unit prices. Demand for soup remained high as it is perceived as being a practical dish to prepare.
Price and flavour remained the main reasons behind consumer purchasing decision in soup in 2021. While soup benefits from prices that are accessible to all social classes, the price per kg does sometimes range from one brand to another, which intensifies the competitive landscape.
Nestlé Guatemala SA retained its outright lead in soup in 2021. Its two brands, Maggi Sopa del Dia, an international brand, and Malher Sopas Chapinas, a domestic brand compete strongly with each other and have wide product portfolios supported by a strong distribution network that enables them to remain the top brands, although Maggi has greater diversity in terms of flavours.
After the strong uptick in demand in 2020 and stagnation in sales in 2021, soup is expected to maintain current value and retail volume growth rates at levels higher than those seen prior to the pandemic over the remainder of the forecast period. Dehydrated soup will remain the most popular soup in Guatemala thanks to its low unit prices and ease of preparation.
As most standard brands tend to have similar unit prices, flavour will remain one of the most important factors guiding consumers’ purchasing decisions in the forecast period. As a result, new flavours are expected to enter, aside from the typical Guatemalan flavours currently present such as tortilla soup and chicken soup.
Innovations in terms of packaging are also expected in soup over the forecast period. The most prevalent packaging over the review period included the envelope format from Maggi and Knorr, as well as the can format from Campbell’s.
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Understand the latest market trends and future growth opportunities for the Soup industry in Guatemala 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 Guatemala, 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 DefinitionsThis report originates from Passport, our Soup research and analysis database.
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