The household expenditure on soup (except infant soup) in Canada has seen a steady increase from 2013 to 2023. In 2023, the expenditure stood at 79 Canadian Dollars. The year-on-year variation over the last two years indicated a minimal change with a 0.69% decline in 2022 and a 1.28% increase in 2023. The compound annual growth rate (CAGR) over the last five years leading to 2023 was 2.45%.
Future trends suggest that household expenditure on soup is expected to continue its gradual increase, with a forecasted CAGR of 1.06% over the next five years, culminating in a 5.43% overall growth by 2028. Factors to watch for include evolving consumer preferences, potential impact of economic conditions on disposable incomes, and shifts in food industry trends such as health and wellness eating habits.
