The Ready-to-eat Soup Market was valued at USD 2,160 million by 2017, growing with 2.6% CAGR during the forecast period, 2018-2025
The Global Ready-to-eat-soup Market is one of the fastest growing sectors in the food and beverages industry across the globe. Soup is often considered as a healthy food item, suitable for consumption through all seasons. The growth of the ready-to-eat soup market is preliminary bound to micro-economic and macro-economic factors. The demand for ready-to-eat-soup is increasing due to the growing prevalence of obesity among the younger population. The key players are coming up with a new flavors, which is expected to drive the growth of the ready-to-eat-soup market in the near future.
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The global ready-to-eat-soup market will grow at a significant rate in the near future as busy schedules make consumers shift towards convenient food products. The increasing availability of a large variety of flavors is steadily attracting the young generation, creating a positive impact on the growth of the market.
Technological advancements in packaging coupled with growing distribution channels such as supermarkets and hypermarkets has increased sales for the ready-to-eat soup market. In recent years, the sales of tomato soup have been increased due to its ready-to-eat availability. Introduction of proteins and vegetables in the ready-to-eat soups has lured in diet-conscious consumers, which is expected to stoke market growth.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
However, decreasing popularity of packaged food items due to health concerns pertaining to preservatives is creating a negative impact. Packaged food mainly contains preservatives and additives, which is acting as a major deterrent for the market.
In terms of ingredients, the market is divided as Mixed Vegetables, Tomato, Artichokes, Beans, Beef, Chicken, and Others. The tomato segment is anticipated to dominate the global read-to-eat soup market in the forthcoming years.
By Sales Channel
The market is categorized as Convenience Stores, Modern Trade, HORECA, Convenience Stores and others, depending upon sales channels. The HORECA sales channel segment is expected to lead the global market in the coming years, earning the overall market its highest revenue.
North America is expected to dominate the global ready-to-eat soup market due to the growing urban population and increasing consumption of packaged food and beverages among consumers. The demand for soups is relatively higher in countries like the U.S. due to harsh winters and the broad distribution channel networks.
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Key Vendors Takeaway
Some of the top players operating in the global ready-to-eat soup market are Campbell Soup Company, The Kraft Heinz, Yorkshire Provender, New Covent Garden Soup Limited, Amy’s Kitchen Inc., Baxter’s Food Group Limited, and Premium Foods PLC.
With the growing demand for ready to eat food products, manufacturers are entering into the strategic mergers and acquisitions to launch innovative products. For instance, The Kraft Heinz has invested US$117 mn in 2017 for a new development plant in Brazil. Campbell Soup Co. had completed its acquisitions with Pacific Foods with an aim to bring up its new distribution networks and also enhanced the quality of its customer service.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY INGREDIENTS
MARKET, BY SALES CHANNELS
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
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