Soup experienced a very long period of contraction both in terms of volume and value leading up to 2018 where the negative value trend reversed, while volume demand declined further. The entire category had failed to recover from the devastating effects of the previous economic turmoil, which reshaped consumer spending preferences and tastes.
While convenience remains the most influential factor when purchasing soup and as the negative economic influence waned, there emerged an opportunity hidden behind an emerging health and wellness trend. Even though an increasing number of Slovenians are starting to substitute homemade soup for the packaged version as a result of a faster paced lifestyle, reluctance remains.
Dehydrated soup remained the largest category in 2018 but experienced the most negative growth rates. However, in terms of value, the category managed to bounce back as a result of higher price levels.
In a highly concentrated category, Atlantic Trade managed to retain high double-digit value share in 2018 with its soup Knorr. This is traditionally associated with the category due to its longstanding presence and highly marketed to consumers in Slovenia.
The intense competition in soup reached higher levels as leading producers attempted to outperform their competitors with relatively frequent product launches such as new flavours from Podravka and more visible marketing efforts including television commercials, billboards and press advertisements. These were supported by promotional activity at points of sale.
While the bulk of soup brands available in Slovenia in 2018 fell into the standard category, private label soup slowly emerged and is gaining further share, based on substantially lower unit prices. With the oversaturation of leading brands, their performance in comparison to other small and private label lines was lacking.
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This industry report originates from Passport, our Packaged Food market research database.