Market Definition:
Soups market is gaining a foothold with the rise in health-related consciousness. Soups now come in distinctly different flavors, and the number is exponentially rising with each passing day. Companies are trying to stay neck-and-neck in the competition, hence, new product launch. Furthermore, health and wellness trend is controlling the market with a good grip which has impacted soups market affirmatively. The global soups market is expecting an impressive growth during the forecast period (2017-2022), reveals Market Research Future (MRFR) in a detailed report on the same market. The report further includes the impact of the ready-to-drink section on the soups market and how the transforming lifestyle is affecting the consumption pattern of people which is subsequently, influencing the soups market expansion. In addition, the inclusion of e-commerce in the distribution channel is also assisting much by providing an array of information to the consumers.
Market Scenario:
However, people also have some prejudices against the canned soup segment. The popular belief associates canned foods with ill-effects on health which can prevent soups market from getting a smooth run over the forecast period. High level of preservatives can also be considered a market deterrent.
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Competative Dashboard:
Significant players profiled in soups market are Campbell’s (U.S.), Heinz(U.S.), Nestle (Switzerland), Progresso (U.S.), Matinga (Lithuania), Sill Enterprises (France), Imagine Foods, Inc. (U.S.), Storme (Belgium), Wilki (Belgium) and Kettle Cuisine (U.S.), and others.
Market Insight:
The soups market is getting driven by a lot of strategic decisions made by individual companies for their benefit. These strategies include merger, coalition, acquisition, new product launch, and other methods. For instance, both Kraft Heinz and General Mills are eyeing for Campbell’s which is setting the track on fire.
Health Valley recently launched Organic Minestrone Soup which has no-added-salt. People with a need to check their sodium count can surely rely on the product. In addition, it has organic vegetables such as carrots, celery, and peas.
Julie Detox Broth’s Jùs, on the other hand, has loads of nutritious ingredients such as cremini mushrooms, broccoli, carrots, onions, garlic, ginger, and cumin. The broth can be of good help during winter.
Segmentation:
The Global Soups Market can be segmented by type, ingredient, and format.
By type, the soups market can be segmented into thick, clear, and others.
Based on ingredients, the soups market can be segmented into vegetables, tomato, chicken, beef, grain stew, and others.
Based on the format, the soups market can be segmented into cans, packets, bowl, box, bags, cups, and others. Cans are less popular owing to popular beliefs regarding its mal-effects and also many find cans difficult to open. However, manufacturers are now focusing more on producing biodegradable pack to adhere to sustainability clauses.
Regional Analysis:
Region-specific analysis of the soups market encompasses North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Europe is driving the market ahead by taking hold of an immense share of the global soups market. The region is witnessing a great surge in foods and beverages that are healthy and easy-to-cook at the same time. Hence, the integration of soups in the regular dietary plans. Furthermore, the West is witnessing a crisis related to obesity which is also triggering the growth of soups market.
The APAC market is next to follow, and the huge population here is giving the market considerable thrust. Furthermore, soup is a popular dietary part in many of the South-East Asian countries which are helping the market in gaining significant ground, at the same time, it has also gained substantial momentum in densely populated countries such as India. All these factors are having a knock-out effect on the regional market.
North America is third in line. But the market is gaining momentum owing to a huge demand generated by the urban population who find little time for cooking.
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