Global Soups Market – Overview
Soup is an important dish of every meal. Just like salad, having a bowl of soup have a lot of health benefits as you get to eat more veggies packed with nutrients. Eating nothing but soup for a meal can also make one slimmer but it can be a difficult challenge. Doing so can make you hungry but for others, eating more soup make them more energized and feel full for hours. The wealth of ingredients in a bowl of soup provides a good balance of carbohydrates, protein and fats as well as the vitamins and minerals required to create energy and keep us firing on all cylinders. Soup is healthy, no doubt. But that’s not the only reasons why soup is good. There are other benefits associated with Soup such as; Soup is very easily digested and it’s nutritious and hydrating.
The Soup market is mainly driven by the increasing prevalence of obesity and the geriatric population. Soups are considered to be healthy and easy to digest; due to its nutritional values; it’s widely adopted by the populace with the inclination towards the healthy life style. The rapid urbanization is converting into the greater inclination of consumers towards convenience foods that need less time and energy for preparation and are healthy at the same time. The increasing investments by international players in start-ups dealing with packaged food items are providing impetus to the growth of the market. Additionally, Inclusion of distribution channel mainly the e-commerce has boosted Soup sales in the recent years enabling consumers the product features, unique functional properties, price-range, and flavours. On the other hand, the growing awareness regarding the harmful effects of preservatives that are used in soups for longer shelf life is dissuading consumers from consuming ready to eat soups and thus impeding the growth of the soups market.
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Global Soups Market – Competitive Analysis
Characterized by the presence of several major well-established and small-scale players, the global market of Soups appears to be highly fragmented. Though the large companies have a great geographical presence, the entry of several new companies will pose a stiff competition to them. To maintain the market position, manufacturers are competing based on four criteria: the right texture, flavour choices, a complete set of nutrition intakes and the right life stage. Manufacturers even claim these factors as essential and helpful in shaping healthy eating habits. The key trend emerging in the market is the increasing number of new product launches. Vendors are offering balanced Soups with high nutritional content and higher quality ingredients in order to create a demand among the health-conscious population.
Key Players:
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.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Market of Soups.
Global Soups Market – Segmentation
The Soup Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Types: Comprises clear, thick and others.
- Segmentation by Ingredients: Comprises Vegetable, tomato, chicken, beef, grain stew and others.
- Segmentation by Formats: Comprises cans, packets, bowls, box, bags, cups and others.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Global Soups Market – Synopsis
Supermarkets and hypermarkets will continue to remain the primary channel for the distribution in the global Soups Market during the forecast period. During the past few years, the retail sector have been growing significantly in developed and developing countries; which is in turn is providing impetus to the growth of the Soups Market. Moreover, the rapid urbanization and the growing popularity of the hypermarket and supermarket retail format owing to the convenience offered by them are leading to the greater number of these outlets in developing countries.
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Global Soups Market – Regional Analysis
The soup market has been geographically segmented into North America, Europe, South America, Africa and Asia-Pacific. Prevalence of maximum obese population in the west mainly North America will drive higher demands for healthy foods mainly soup. The European region held the largest market share during the past years, followed by Asia-Pacific and North America. In Europe, countries like Spain, the UK, and France possess greater market share due to the demand for higher value soups and better packaging. In developed countries, large number of health awareness campaigns has resulted in the demand for packaged soups that contain fresh ingredients and fewer preservatives A growing demand for high-quality meals that can be prepared at short notice has also helped the growth of soup market in Europe. Currently, Russia is the most attractive market in Europe, followed by Italy and the UK. The global Soup market is evaluated to nurture a healthy growth during the forecast period.
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