Soup is expected to register current value and volume growth in 2021, with chilled soup being the strongest performer by far and registering double-digit value growth. While dehydrated soups remains the largest product area, dehydrated soup is also expected to register the lowest current value growth.
Knorr by Unilever Magyarország and Maggi by Nestlé Hungária continue to dominate soup and dehydrated soup in particular in 2021, with both together accounting for nearly three-quarters of value sales. They maintain their lead due to constant promotion.
In 2021, the ban on single-use plastics is coming into effect and it is expected over the forecast period, that there will be flurry if packaging redesigns within soup that will use more sustainable packaging material. Another ongoing trend is that consumers are paying much more attention to the nutritional information, in particular looking at the levels of salt and preservatives.
Overall, soup will register muted constant value growth over the forecast period. Dehydrated soup is predicted to record the weakest performance over the forecast period, recording a decline in terms of volume sales.
In terms of recent products launches, a lot of the new soups offer more exotic ingredients as players tap into the increasing interest from Hungarian consumers for new tastes. The growing willingness of Hungarian consumers to try new products represents an opportunity for soups if the products are deemed nutritious, as there is a perception among Hungarian consumers that packaged soups are unhealthy and so messaging around health benefits is crucial.
As chilled soup is a relatively new product area in Hungary, huge growth is being observed. The explanation is similar to that seen in ready meals: convenience trends and busy lifestyles are fuelling growth as consumer attitudes are changing towards chilled soup products which have concurrently gone through major development.
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Understand the latest market trends and future growth opportunities for the Soup industry in Hungary 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 Hungary, 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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