HJ Heinz Co Ltd continues to lead the United Kingdom soup market in 2012, registering a value share of 38%. The company dominates canned/preserved soup, where it registered a 68% value share in 2012. The company developed a successful marketing campaign which promoted its canned/preserved soup products as a cooking ingredient. HJ Heinz Co Ltd also introduced Heinz Squeeze & Stir, a new instant soup in concentrated purée format which comes in easyto-carry sachets. Squeeze & Stir was launched in 2011 and in its first year recorded value sales of £6 million.
Chilled soup is one of the most dynamic areas within soup; with 12% value growth in 2012, it grew faster than any other soup category, thanks to the introduction of new exotic flavours that appeal to a wider range of consumers, including younger people. As a result the penetration of soup is increasing, with the result that soup is no longer seen as a winter-only meal.
The soup category is expected to continue to grow in the forecast period, with constant value sales set to rise at a 4% CAGR to reach £912 million in 2017. In particular, chilled soup should continue to act as a driver for the expansion of the category overall, with an expected 5% CAGR. Given the anticipated strong performance of the category, further new entrants and increasing competition from private label operators are expected. Retailers such as Tesco are expected to invest further in their own chilled soup brands.
- Soup sales grow by 7% in value terms and 2% in volume terms in 2012
- The introduction of new, more exotic flavours is helping the category to move away from the perception of being a winter-only meal
- The popularity of chilled soup is driving up the value of the category
- Unit prices rise as premium chilled soup gains popularity
- HJ Heinz Co Ltd continues to lead the soup category but smaller and innovative chilled soup brands are gaining a foothold
- Sales of soup are expected to continue to rise, with an anticipated constant value CAGR of 4% over the forecast period
For more information on the United Kingdom soup market, please click here: United Kingdom soup market
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