Soups and broths and preparations therefor

In 2024, soups and broths and preparations therefor trade exhibited strong growth, with global flows reaching $3,897,534,815 and a three-year compound annual growth rate of +8.6% (five-year: +7.6%). The all-time peak of $3,897,534,815 was recorded in 2024.

Over the 30-year observation window (1995–2024), 86% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is strengthening (+4.9% acceleration).

The World Trade Flows Characterization classifies soups and broths and preparations therefor as "Two-way vertical trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.076). The three largest exporters — United States ($922.0M), Canada ($244.0M), and Spain ($204.6M) — collectively dominate supply flows. The leading exporter has grown at +14.5% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.059). The three largest import markets are Mexico ($581.4M), United States ($543.0M), and Canada ($320.0M). The largest importing market sources from 58 different supplying countries.

Estimated substitution elasticity: -9.40. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is United States → Mexico at $538.9M, representing 92.7% of the importer's total demand.

The volatility score for soups and broths and preparations therefor is 7 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.