Soup, ready meal market seen hitting $237 million by 2030 – USDA

MANILA, Philippines —The country’s market for packed soups and ready meals may expand to become a more than $200 million industry by 2030, the United States Department of Agriculture (USDA) said.

In a market brief, the USDA anticipates that the market for soups and pre-packed meals would reach $237 million by 2030, based on a six-percent compound annual growth rate (CAGR) from 2026 to 2030.

The market was valued at $176 million in retail sales in 2025, expanding at a CAGR of eight percent from 2020 to 2025. Packed soups represented 45 percent of the total market at $79 million last year, while ready meals made up 55 percent or $97 million.

“While growth moderates from a larger base, the market remains attractive with steady expansion driven by continued consumer demand for convenient meal options,” the report said.

The US agency noted that dry soups dominated the overall soup market at 59 percent, followed by shelf-stable soup which made up 41 percent.

On the ready meals segment, shelf-stable ready meals made up the majority of the market at 59 percent, frozen ready meals was at 39 percent, and dried ready meals at two percent.

By 2030, the USDA noted that all major subcategories for soup and ready meals are expected to continue expanding, “reflecting sustained consumer demand for convenient meal solutions.”

The dry soup category is forecast to grow at a CAGR of six percent from 2026 to 2030, followed by shelf-stable and frozen ready meals at seven percent.

The USDA said that the Philippines’ market for packaged soups and ready meals presents significant opportunities for US-based exporters, due to the country’s growing demographic urbanization and rising household appliance ownership.

It added that US-based packaged soups and ready meal products represent six percent of the total market, showing that there are still untapped American exporters to expand their presence.

“Products that emphasize convenience, premium quality, health benefits and familiar American and international flavors show the strongest market potential,” the USDA said.