soups market

Soups Industry Insights
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
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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.
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
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.
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, 2017–2025

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