The global for Soups Market had a value of USD 136.5 million in 2022 and is anticipated to reach USD 212.53 million by 2032, with a notable compound annual growth rate (CAGR) of 5% projected during the forecast period.
The surge in demand for easily prepared meals due to hectic lifestyles and urbanization, coupled with a growing consumer inclination towards nutritious food choices, serves as the primary driver for the growth in market revenue.
The escalating preference for convenience foods among consumers is fueling the demand for canned soups. Individuals are increasingly seeking food products that are straightforward and speedy to prepare, especially in households where both parents are employed. Canned soup stands out as a quick and hassle-free meal option that requires minimal preparation time.
Top Companies:
- Campbell Soup Company
- Conagra Brands, Inc.
- Nestle S.A.
- General Mills, Inc.
- The Kraft Heinz Company
- Unilever
- Progresso
- Hormel Foods Corporation
- Knorr
- Baxters Food Group
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Soups Market Growth
- Increased Demand for Convenience: Canned soups have traditionally been popular for their convenience. Busy lifestyles and the need for quick meal options contributed to steady demand.
- Health and Wellness: Consumers were becoming more health-conscious, leading to a shift towards healthier canned soup options. Companies started introducing low-sodium, organic, and preservative-free soups to cater to this trend.
- Diverse Flavors and Ingredients: Canned soup manufacturers were diversifying their product lines by introducing new and unique flavors, ethnic cuisines, and premium ingredients to attract a broader customer base.
- Private Label Brands: Retailers were increasingly offering their own private-label canned soups, which were often competitively priced and gaining popularity among cost-conscious consumers.
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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.
This report analyzes the Soups Market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Soups Market is provided to gain a deeper understanding of its growth and progress.
The global Soups Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook:
- Chicken
- Tomato
- Vegetable
- Meat-based
- Others
End-Use Outlook:
- Retail
- Foodservice
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