Soups Market – Overview

    Due to convenience usage and consumption of the product, the soup market is identified to be growing at an incremental pace globally. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Soups Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR % while achieving good growth rapidly in the forecast period.

    Rising health awareness and growing demand for ready-to-cook healthy food products is one of the major reasons driving the sales of soups globally. The sector is driven in a major way by the demand directed from the convenience food sector. Technological advancements have led to the products available in various forms as per consumers demand. This is one of the major drivers to the development of this segment. Growth of the convenience food market has also provided an impetus for the increased demand of this sector.

    Urbanization leading to consumers’ hectic life-style is supporting the growth of this market on a global level. Strong performance of the retail sectors has also enhanced the market growth trajectory of the sector. Fast pace of lifestyle, increasing awareness about the variety of products available through product promotions has significantly given a boost to the soups market.

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    Latest Industry Updates

    Nov 2017 Marico Limited, one of the leading companies for consumer goods products in India entered soup segment to suffice the rising demand for convenience healthy food products. The company has initiated selling of Saffola soups dominated by Hindustan Unilever and Nestle. The company has taken this step to enter the healthy snacks business.

    Oct 2016 General Mills has announced the launch of their new vegan-friendly soup line which will be sold under the brand- Progresso brand, Progresso Good Natured Soups. The step taken by the company is to support the popularity of plant-based diets and healthy trends followed by the consumers.

    Jul 2016 Campbell, one of the leading players in the soup business, announced the launch of their innovative “clean” products including a new soup line. By this strategy the company has become successful in creating product differentiation and the product is identified to gain attention from the mass consumers.

    Jun 2016 Sonoma Brands of the U.S. has announced the launch of their first chilled vegetable soup which will be retailed under the brand name of Züpa Noma. The product is made available in six flavors across California. The product is an on-the-go meal replacement or snack which is gaining popularity on a global platform.

    Soups Market – Competitive Analysis

    The soups market is found to be competitive with large number of established players in the market. The players are found to have indulged in rivalry wherein they fight in terms of quality of product they deliver to the consumers. In order sustain their consumer-base, manufacturers are identified to be investing hugely in the R&D sector to create product differentiation. The best long-term growth opportunities for this sector can be captured by ensuring ongoing product improvisations, promotions and financial flexibility to invest in the optimal strategies.

    The key players profiled in soups market are Campbell Soup Co. (U.S.), H.J. Heinz Co. (U.S.), Associated British Foods plc (U.K), Nestlé S.A. (Switzerland), Unilever Plc (U.K), General Mills, Inc. (U.S.), Conagra Brands Inc. (U.S.), and B&G Foods (U.S.) among many others.

    Global Soups Market – Segments

    The global Soups market has been divided into type, packaging, distribution channel and region.

    • On The Basis Of Type: Liquid, Dehydrated, Instant, Frozen, and Others
    • On The Basis Of Packaging: Cans, Pouches, and Others
    • On The Basis Of Distribution Channel: Store Based, and Non-Store Based
    • On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.

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    Soups Market – Regional Analysis

    The global Soups market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global soups market is highly dominated by North America and Europe due to rising demand for healthy food accompaniments. APAC is fastest growing region due to shift in consumers’ food consumption trend and improved disposable income in the region. The consumption of soups in developing counties is expected to grow in upcoming years based on rising inclination of consumers towards uniquely flavored food products.

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