With the cold winter temperatures upon us, hot, flavourful bowls of soups have always been a popular choice amongst consumers at this time of year. To better understand the soup category and the key opportunities for growth, here are our top three picks in terms of market trends to watch for and how to capitalize on them.
Three key future trends
- Although, retail dollar sales in Canada for the soup category are down slightly at -1% (2016)1 due to three key consumer trends (aging population, growing interest in cooking at home and a shift towards healthier soup options)2, the good news is that on a global basis, the soup market is projected to grow. The CAGR for soup is projected to be at CAGR 3.7% globally during the period from 2016-20213. Increased consumer demand for convenience foods is the main reason/driver for the projected growth within the category. However, only through the introduction of new product launches (ie. healthier and memorable soup options) will ensure the future growth of the soup market.
- Wondering which healthier soup options will have the greatest future appeal? “Soups, stocks and broths will likely be more popular in the next couple of years. Given the interest in bone broth and healthy eating, there will be a growing interest in beef soup, according to Dave Meli, The Healthy Butcher, Toronto and Kitchener”.4
- Creating healthy yet craveable soups may be the key for driving future growth within the category. According to Technomics, “cravings beat out healthfulness as reasons consumers eat soup and salad; with more than half citing cravings and fewer saying health for their rationale (ie. 58% and 55% vs 29% and 48% (soup and salad % split compared between cravings vs health reasons respectively).5 Creating the perfect balance between craveable and yet healthy option was recently demonstrated by one chef. For example, with a heavier soup bowl variety such as potato, the cream/milk was replaced with a lighter and signature twist on flavour option such as a spicy salsa relish6
How to capitalize on these three trends
- Have you ever considered launching a drinkable soup to satisfy the growing consumer demand for convenience foods? Fawen drinkable soups have been identified as one of 2017 biggest food trends on “We could make that” website. These soups, available in three non-meat varieties including Beet/Purple Cabbage with Cumin, Broccoli/Cauliflower with Turmeric and Sweet Potato/Red Lentil with Cinnamon also address the growing market segment of vegans/ vegetarians and flexitarian consumers7
- If a more traditional creamy tasting yet healthier soup option is required, this may be an ideal time to consider reducing a portion of the cream/dairy/butter/fat with the addition of one or more Butter Buds dairy flavour ingredients. Butter Buds natural flavours, available in Canada through Dealers Ingredients, may be the perfect solution for creating and/or reformulating a low fat soup recipe. With 50 varieties of dairy, butter and cream flavour ingredient options in Canada to choose from including non-dairy creamers, popular flavours such as bacon and cocoa, organic (now totalling six organic flavours including three new flavours as of Dec 2017), finding a solution could not be any easier.
- One of the biggest challenges with creating a healthier and yet still tasty soup is the high level of salt. One option available to reduce the salt without compromising on taste to consider is replacing a portion of the salt with Akzol Nobel OneGrain sodium reduction solution available through Dealers Ingredients.
Interested in creating healthier soup options? Contact your Dealers Ingredients sales rep or info@dealersingredients or 905 458 7766 to get more information/copy of complete list of products, receive product development support and/or to ask for a sample of Canadian Butter Buds flavours, Akzol Nobel OneGrain salt replacement, Natralein pea or brown rice protein or Profi, high protein plant-based composite (HPPC).
1Source: “Stock: options Canadians are choosing healthier soups made with wholesome, locally sourced ingredients” (Page 24 of Nov/Dec 2017 issue) Food in Canada. Retrieved from http://www.foodincanada.com/digital-edition/?documentID=171206213054-f6de3cea9aa44c3fb23f53c81ba57042
2Source: Retrieved from http://www.euromonitor.com/soup-in-canada/report
3Source: Retrieved from https://www.businesswire.com/news/home/20170929005250/en/Global-Soup-Market—Growth-Trends-Forecasts
4Source: Retrieved from http://www.cbc.ca/news/canada/kitchener-waterloo/andrew-coppolino-2017-food-trends-african-street-food-coffee-delivery-1.3935118
5Source: Retrieved from https://www.technomic.com/soup-and-salad-will-face-heightened-competition-definition-health-evolves
6Source: Retrieved from https://www.foodfanatics.com/food/take-on-soup\
7Source: Retrieved from http://wecouldmakethat.com/soup/