Soups Market- Trends, Outlook, Industry Insights and Forecast till 2025
Soups Market report categorizes the global market By Product Type (Canned, Chilled, Dried, Others), Distribution Channel (Supermarkets, Hypermarkets, Convenience stores, E-commerce), and Geography – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
Soups Market report categorizes the global market By Product Type (Canned, Chilled, Dried, Others), Distribution Channel (Supermarkets, Hypermarkets, Convenience stores, E-commerce), and Geography – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
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<strong>Soups</strong> <strong>Market</strong>- <strong>Insights</strong>, Size, Share,<br />
Opportunity Analysis, <strong>and</strong> <strong>Industry</strong><br />
<strong>Forecast</strong> <strong>till</strong> <strong>2025</strong><br />
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REPORT<br />
DESCRIPTION<br />
Soup is a type of liquid food that is prepared using vegetables, meat, fish, water, <strong>and</strong> other<br />
additives. Consumption of soup has many benefits. It is a source of nutrients, which are essential<br />
for proper functioning of the body. American Heart Association recommends that an adult should<br />
consume eight or more servings of vegetables <strong>and</strong> fruits per day. <strong>Soups</strong> can help to achieve this<br />
amount easily. The growing dem<strong>and</strong> for convenience foods, increasing health awareness,<br />
introduction of new flavors in the market, <strong>and</strong> attractive advertisements by the soup<br />
manufactures are the key drivers of soups market. Moreover, urbanization, growing disposable<br />
incomes, increase in working women population, <strong>and</strong> hectic lifestyle are further fueling the<br />
growth of soups market. The rising awareness about health risks associated with the<br />
consumption of preservatives in ready-to-cook soups is a major restraint for soups market.<br />
However, many manufacturers are introducing products with low preservative content.<br />
<strong>Soups</strong> <strong>Market</strong> Taxonomy<br />
Based on product type, the soups market is segmented into<br />
Canned<br />
Chilled<br />
Dried<br />
Frozen<br />
UHT<br />
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REPORT<br />
DESCRIPTION<br />
Dried soup is projected to be the largest segment in the soups market, owing to the high dem<strong>and</strong> for quick meals.<br />
Dem<strong>and</strong> for canned soups is decreasing, owing to the increasing health awareness of consumers about the presence of<br />
preservatives in these soups <strong>and</strong> dislike for heavy metal packaging. Furthermore, consumers prefer soups, which are<br />
easier to open as compared to canned soups <strong>and</strong> come in biodegradable packaging. Hypermarkets <strong>and</strong> supermarkets<br />
are the biggest <strong>and</strong> favorable distribution channels in the soups market.<br />
<strong>Soups</strong> <strong>Market</strong> <strong>Outlook</strong><br />
Europe holds a major share in the global soups market. This is, as a result of the growing dem<strong>and</strong> for high-quality<br />
meals that can be prepared in short time. The U.K., France, Russia, Spain, <strong>and</strong> Germany are the major contributors to<br />
the growth of soups market in this region.<br />
Asia Pacific is projected to be the fastest growing market over the forecast period, owing to the availability of a wide<br />
variety of products in the market <strong>and</strong> changing consumer preference toward healthier products. Furthermore,<br />
abundance of raw materials, especially in India <strong>and</strong> China, is further fueling the growth of soups market.<br />
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REPORT<br />
DESCRIPTION<br />
North America soups market is expected to witness significant growth over the forecast period.<br />
The U.S. Food <strong>and</strong> Drug Administration has imposed stringent regulations on safety of food<br />
products such as soups, which plays a pivotal role in market growth.<br />
In Latin America, Middle East, <strong>and</strong> Africa, increasing per capita income, health awareness,<br />
industrialization, literacy, <strong>and</strong> changing consumer preferences are projected to be the market<br />
drivers<br />
The companies are adopting various inorganic <strong>and</strong> organic growth strategies such as new<br />
product launch, mergers, <strong>and</strong> acquisitions to retain their market position. For instance, Campbell<br />
Soup acquired Pacific foods in June 2017 for US$ 700 million. An example of new product launch<br />
is the Well Yes! Line of soups by Campbell, which contains ingredients such as kale, farro, sweet<br />
potatoes, <strong>and</strong> quinoa in January 2017. Key market players in the soups market are Associated<br />
British Foods, Baxter’s Food Group, B&G Foods, Inc., Campbell Soup Co., Greencore Group Plc.,<br />
General Mills, Inc., Nestlé S.A., Nissin Foods Holdings Co. Ltd, The Kraft Heinz Company, <strong>and</strong><br />
Unilever Plc.<br />
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