Soups Market

Soups Market – Global Industry Insights, Trends,
Outlook, and Opportunity Analysis, 2018–2026
Soup is a type of liquid food that is prepared using vegetables, meat, fish, water, and
other additives. Consumption of soup has many benefits. It is a source of nutrients,
which are essential for proper functioning of the body. American Heart Association
recommends that an adult should consume eight or more servings of vegetables and
fruits per day. Soups can help to achieve this amount easily. The growing demand
for convenience foods, increasing health awareness, introduction of new flavors in
the market, and attractive advertisements by the soup manufactures are the key
drivers of soups market. Moreover, urbanization, growing disposable incomes,
increase in working women population, and hectic lifestyle are further fueling the
growth of soups market. The rising awareness about health risks associated with
the consumption of preservatives in ready-to-cook soups is a major restraint for
soups market. However, many manufacturers are introducing products with low
preservative content.
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Dried soup is projected to be the largest segment in the soups market, owing to the
high demand for quick meals. Demand for canned soups is decreasing, owing to the
increasing health awareness of consumers about the presence of preservatives in
these soups and dislike for heavy metal packaging. Furthermore, consumers prefer
soups, which are easier to open as compared to canned soups and come in
biodegradable packaging. Hypermarkets and supermarkets are the biggest and
favorable distribution channels in the soups market.
Soups Market Outlook
Europe holds a major share in the global soups market. This is, as a result of the
growing demand for high-quality meals that can be prepared in short time. The U.K.,
France, Russia, Spain, and Germany are the major contributors to the growth of
soups market in this region.
Asia Pacific is projected to be the fastest growing market over the forecast period,
owing to the availability of a wide variety of products in the market and changing
consumer preference toward healthier products. Furthermore, abundance of raw
materials, especially in India and China, is further fueling the growth of soups
market. The market in Asia Pacific is highly cost competitive, owing to which, many
brands such as Knorr by Unilever Plc. are launching inexpensive variants in local
authentic flavors to attract consumer attention.
North America soups market is expected to witness significant growth over the
forecast period. The U.S. Food and Drug Administration has imposed stringent
regulations on safety of food products such as soups, which plays a pivotal role in
market growth.
In Latin America, Middle East, and Africa, increasing per capita income, health
awareness, industrialization, literacy, and changing consumer preferences are
projected to be the market drivers
The companies are adopting various inorganic and organic growth strategies such
as new product launch, mergers, and acquisitions to retain their market position. For
instance, Campbell Soup acquired Pacific foods in June 2017 for US$ 700 million.
An example of new product launch is the Well Yes! Line of soups by Campbell,
which contains ingredients such as kale, farro, sweet potatoes, and quinoa in
January 2017. Key market players in the soups market are Associated British Foods,
Baxter’s Food Group, B&G Foods, Inc., Campbell Soup Co., Greencore Group Plc.,
General Mills, Inc., Nestlé S.A., Nissin Foods Holdings Co. Ltd, The Kraft Heinz
Company, and Unilever Plc.
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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, 2018–2026

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