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.
For full research report on Soup Market
visit here:
https://www.grandviewresearch.com/industry-analysis/soup-market
Soup Market
Report Highlights
- 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.
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Soup Market
Segmentation
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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