Soup is expected to see significant retail current value growth in 2020 as a result of stockpiling and changing buying habits as consumers face the uncertainty and home seclusion of COVID-19 lockdown. Dehydrated soup is expected to be the fastest growing product area in soup in 2020 thanks to its convenience and the large range of flavours available as consumers look for quick and convenient options to prepare whilst working from home.
Maggi is expected to remain the brand leader in 2020 thanks to its wide recognition and visibility in Saudi Arabia. As a well-known brand name, Maggi benefits from a high level of consumer loyalty in Saudi Arabia, in a particularly concentrated competitive landscape.
Imported brands will continue to dominate shelf stable soup in 2020, as Campbell’s, owned by Campbell Soup Co, is expected to increase its value share once again in the category. Campbell’s benefits from very strong brand awareness and visibility in Saudi Arabia, and a loyal consumer base.
Dehydrated soup and shelf stable soup are both expected to maintain good performance and strong growth throughout the forecast period as they continue to gain popularity as quick, easy, and convenient meal options. Instant soup, however, despite being a relatively underdeveloped product area, is expected to gain significant ground in the forecast period.
The consumption of soup is significant in the Saudi Arabia, especially during Ramadan, when high volumes of soup is consumed as consumers break their fasts with dates, milk, and soup. Soup is also used as a starter in Saudi Arabia, especially for families.
As consumers in Saudi Arabia have been hit with a further, considerable increase in VAT (from 5% to 15%), price is expected to become an even more important factor in consumer decision making. Soup is easy to prepare at home, so purchasing soup products from retailers is not considered necessary.
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This report originates from Passport, our Soup research and analysis database.
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