U.S. - Soups And Broths - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSoups Price in the United States - 2023
Contents:
- Soups Price in the United States (FOB) - 2023
- Soups Price in the United States (CIF) - 2023
- Soups Exports in the United States
- Soups Imports in the United States
Soups Price in the United States (FOB) - 2023
The average soups export price stood at $3,079 per ton in August 2023, rising by 3.8% against the previous month. Over the period from August 2022 to August 2023, it increased at an average monthly rate of +1.4%. The pace of growth was the most pronounced in April 2023 when the average export price increased by 7.8% against the previous month. The export price peaked in August 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Jamaica ($4,065 per ton), while the average price for exports to Canada ($2,071 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.
Soups Price in the United States (CIF) - 2023
The average soups import price stood at $1,929 per ton in August 2023, which is down by -11.9% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 an increase of 27% month-to-month. The import price peaked at $2,355 per ton in January 2023; however, from February 2023 to August 2023, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Vietnam ($4,532 per ton), while the price for Canada ($1,126 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Soups Exports in the United States
In 2022, approx. 278K tons of soups and broths were exported from the United States; surging by 4.9% on the year before. The total export volume increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 21% against the previous year. As a result, the exports reached the peak of 311K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, soups exports skyrocketed to $712M in 2022. The total export value increased at an average annual rate of +8.2% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Soups in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 237 | 239 | 278 | 355 | 14.4% |
| Canada | 235 | 303 | 249 | 271 | 4.9% |
| Others | 90.6 | 87.3 | 86.4 | 85.6 | -1.9% |
| Total | 562 | 629 | 614 | 712 | 8.2% |
Top Export Markets for Soups from the United States in 2022:
- Canada (143.2K tons)
- Mexico (103.7K tons)
Soups Imports in the United States
In 2022, approx. 231K tons of soups and broths were imported into the United States; growing by 3% compared with the previous year's figure. The total import volume increased at an average annual rate of +8.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, soups imports expanded rapidly to $450M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +17.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.1% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 21% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.
| Import of Soups in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 137 | 137 | 155 | 165 | 6.4% |
| Mexico | 30.4 | 32.2 | 60.9 | 78.7 | 37.3% |
| South Korea | 20.0 | 39.2 | 48.0 | 51.9 | 37.4% |
| China | 14.1 | 24.6 | 25.1 | 27.4 | 24.8% |
| Japan | 23.1 | 23.2 | 25.8 | 26.8 | 5.1% |
| Guatemala | 17.7 | 20.5 | 23.5 | 23.8 | 10.4% |
| Vietnam | 1.9 | 5.6 | 9.7 | 18.8 | 114.7% |
| Thailand | 3.5 | 7.9 | 8.0 | 12.4 | 52.4% |
| Others | 30.1 | 44.2 | 47.1 | 45.4 | 14.7% |
| Total | 278 | 335 | 403 | 450 | 17.4% |
Top Suppliers of Soups to the United States in 2022:
- Canada (142.7K tons)
- Mexico (30.4K tons)
- South Korea (11.3K tons)
- Guatemala (10.9K tons)
- China (8.6K tons)
- Vietnam (4.9K tons)
- Japan (4.9K tons)
- Thailand (4.2K tons)
This report provides an in-depth analysis of the soups market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10891100 - Soups and broths and preparations therefor
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In October 2022, the soups price stood at $2,670 per ton (FOB, US), growing by 3.8% against the previous month.
474
In August 2022, the soups price per ton amounted to $2.6 per kg, increasing by 4.3% against the previous month.
261
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