The new report by Expert Market Research titled, ‘Global Soup Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global soup market, assessing the market based on its segments like by category, composition, packaging type, distribution channel and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/soup-market/requestsample
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 17 Billion
- Forecast CAGR (2023-2028): 8%
- Forecast Market Size (2026): USD 20 Billion
The growth of the soup market over the medium term is projected to be aided by increasing product varieties, an increase in the consumption of health and wellness products, and promotion by the market players. The demand for healthier food products in North America, which accounts for a significant share of the world market, is also expected to increase.
Industry Definition and Major Segments
Most soups are made by cooking various vegetables, seafood, or meats with a flavoring liquid, such as water, milk, or a different liquid altogether. A good way to retain nutrition in a soup is to cook it slowly. Used during illness, they also have an energetic effect. A variety of health benefits can be attributed to the consumption of soups. It helps with digestion, promotes heart health, promotes weight loss, and helps to build bone density.
Explore full report with table of contents: https://www.expertmarketresearch.com/reports/soup-market
The major categories of soup are:
The market can be broadly divided on the basis of its products into:
Based on the packaging type, the industry can be segmented into:
By distribution channel, the market is divided into:
- Supermarkets and Hypermarkets
- Convenience Stores
- Food Service
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Due to the increase in convenience product offerings, like packaged soup, ready-to-eat soup, organic soup, quick soup, pouched soup, there is potential for a great increase in the market for instant and vegetarian soup. Also, there is an increasing demand for vegan and organic snack items in convenient formats, as customers increasingly desire soup that is ready to eat as a snack. Therefore, companies offering highly nutritious ingredients in soups are making soup convenient and appealing to vegans.
According to market forecasts, online sales of soup are expected to grow significantly over the next few years due to the entrance of various online companies, which will greatly increase product availability and facilitate customer access.
Many new trends are encouraging the North American market to grow, including new products being launched, a focus on advertisement, and an increase in product offerings.
It is anticipated that the soup market will expand as a result of increasing product variety, consumption of health and wellness products, and active promotions by market participants. Additionally, soup consumption is anticipated to rise in response to rising consumer demand for healthier foods. Due to their ease of preparation and growing demand from busy consumers, instant, dehydrated, and UHT soups are expected to dominate the soup market during the forecast period.
In addition, there has been a significant increase in demand for soups with particular certifications and health claims, particularly among consumers who are following a particular diet. These health-related products attract buyers who are willing to pay more, eventually expanding the market that was studied. Soups with organic, made with natural ingredients, and free-from claims have seen significant sales increases as a result of this trend. Convenience food products have also skyrocketed in popularity, particularly among consumers with middle- to upper-middle-class incomes. The growing number of women in the workforce and their increasing demand for quick and time-saving meal options worldwide account for the surge. Over the course of the forecast, this is expected to boost market expansion.
Key Market Players
The major players in the market are Campbell Soup Company, The Kraft Heinz Company, Unilever PLC, General Mills Inc., Conagra Brands Inc., B&G Foods, Inc., Nestlé S.A., among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.
Company Name: Claight Corporation
Contact Person: Frara Prih, Corporate Sales Specialist – U.S.A.
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA