The global soup market size is expected to reach USD 19.8
billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 3.0% over the forecast period. Growing demand for
processed, ready to eat, and packed food and increasing women workforce are
expected to increase the market demand in the upcoming years. In addition,
increase in disposable income and changing consumer lifestyle in emerging
economies including China and India are anticipated to increase the demand for
soups.
Consumption of canned and dried soup
products is increasing in North America and Europe, on account of continuous
product innovation as per customer behavior and preferences. In addition,
growing economic independence among women is increasing the consumption of
packed and processed food products in the developed countries.
Soup being a healthy source of
vitamins, minerals, nutrition, and protein serves as a prominent replacement
for home cooked food. Therefore, this evolution in the working population is
anticipated to significantly influence the demand for soup in future. Demand
for soups in restaurants, food outlets, and food joints is expected to acquire
a small market share due to growing consumer preference for ready to eat
products and rising inclination towards healthy food habits.
Continuous use of cornstarch and salt
in canned and dried soup products is expected to act as a restraining factor in
the global market. High consumption of corn starch can lead to several health
issues like increased level of blood sugar and blood pressure. However,
continuous product development by companies such as Campbell Soup Company,
which provides new flavors like roasted red pepper and tomato, butternut squash
and sweet potato, and harvest carrot and ginger, is expected to influence the
buying behavior of the younger population across the globe. The market leaders
are focusing on developing new flavors and products in order to make their
style statement in the market.
Browse full research report on Soup Market: https://www.grandviewresearch.com/industry-analysis/soup-market
Further key findings from the study suggest:
- By product, the canned segment is projected to expand at a
CAGR of 3.2% over the forecast period. This is attributed to high
consumption of processed food in developed countries, including U.S. and
Germany
- The dried product segment dominated the global market in 2018
with almost 60.0% share of the overall revenue. The growth is attributed
to high vitamin and nutrient content in dried soup products in comparison
with the other packed products
- The offline distribution channel dominated the market in
2018, accounting for a share of almost 90.0% of the overall revenue as
most of the products are purchased through supermarkets/hypermarkets,
convenience stores, and ordered at restaurants/food joints
- Europe dominated the global soup market in 2018, accounting
for 39.6% share of the overall revenue. This trend is projected to
continue over the next few years due to high preference for healthy food
products in countries, including U.K., Germany, and France
- The industry is highly competitive in nature due to presence
of the main players including Baxters Food Group Limited.; Nestle; The
Original Soupman; AMY's Kitchen Inc.; and Associated British Foods PLC.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/soup-market/request/rs1
Grand View Research has segmented the global soup market on the
basis of product, distribution channel, and region:
Soup Product Outlook (Revenue, USD Million, 2015 - 2025)
- Canned
- Dried
- UTH
- Others
Soup Distribution Channel Outlook (Revenue, USD Million, 2015 -
2025)
- Supermarkets/Hypermarkets
- Convenience
Stores
- Online
Soup Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North
America
- U.S.
- Europe
- Germany
- U.K.
- Asia
Pacific
- India
- China
- Central
& South America
- Brazil
- Middle
East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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