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Soup Market Size To Cross $19.8 Billion By 2025 Owing To Its Growing Demand For Processed, Ready To Eat, And Packed Food | Grand View Research, Inc.

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Soup Market Size To Cross $19.8 Billion By 2025 Owing To Its Growing Demand For Processed, Ready To Eat, And Packed Food | Grand View Research, Inc.

April 19
04:49 2021
Soup Market Size To Cross $19.8 Billion By 2025 Owing To Its Growing Demand For Processed, Ready To Eat, And Packed Food | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
The rapid increase in the working population globally, coupled with the shift towards healthy and nutritional lifestyle, is expected to strengthen the global soup market, according to a report by Grand View Research. The industry has further witnessed positive developments amid the outbreak of the COVID-19 pandemic.

The global soup market size is expected to reach USD 19.8 billion by 2025, according to a report by Grand View Research, Inc. The report further projects an expansion at a CAGR of 3.0% over the forecast period for the industry. Soup has become a mainstay in the diet patterns and lifestyles of a substantial population globally, on account of perceived health benefits. Furthermore, growing demand for processed, ready to eat, and packaged food is expected to enhance the industry growth in coming years. The move towards healthy lifestyle patterns, coupled with improvements in standard of living and disposable income of the global population, have helped sustain and improve the product demand in recent years. Developed regions such as North America and Western Europe have established their dominance since the past several years, on account of continuous product innovation as per customer behavior and preferences.

Soup being liquid is an excellent way to stay full and hydrated, with many people considering it to be an effective offering to people suffering from fever, cold, or flu. Additionally, it is a healthy source of vitamins, minerals, nutrition, and protein, thus serving as a prominent replacement for home cooked food. Furthermore, soup is an excellent option for increasing vegetable intake, as has been shown by researches. This is extremely helpful in combating weight gain, which causes numerous chronic diseases. The explosive growth in the working population globally is a major driver for product demand, with companies offering ready-to-eat nutritional products that can be prepared and consumed in no time. Demand for soups in restaurants, food outlets, and food joints is also a stable source of revenue for the industry, owing to increasing consumer preference for ready to eat products and inclination towards healthy food habits. However, the high salt content and corn in dried products is expected to restrain industry growth, as it is considered to hamper an individual’s health by increasing the level of blood pressure and blood sugar. 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/soup-market

Soup Market Report Highlights

 Some of the most popular types of soup include tomato soup, chicken noodle soup, and bone broth-based soup. Another notable preparation is the spinach soup, which is very popular in households. All these soups are nutrient and fiber-rich, thus helping in creating a positive impression of the product

• By product, the canned segment is projected to expand at a CAGR of 3.2% over the forecast period in the soup market, owing to the high consumption of processed food in developed countries, including the U.S. and Germany

The offline distribution channel dominated the soup market in 2018 with a revenue share of almost 90.0%, as most of the products are purchased through supermarkets/hypermarkets, convenience stores, and ordered at restaurants or food joints

• Europe accounted for the highest share of 39.6% in the soup market in 2018, with the trend projected to continue over the coming years due to high preference for healthy food products in countries such as the U.K., Germany, and France

• The COVID-19 pandemic has shifted the focus of consumers on their own health, with a high preference for simple food preparations, which has positively impacted the demand for soup globally. For instance, Campbell Soup saw strong performance in the year 2020, on the back of heavy demand for straightforward, easy-to-prepare, and nutritional meals

The soup industry is highly competitive in nature due to the presence of notable players including Baxters Food Group, Nestle, Campbell Soup, The Original Soupman, AMY’s Kitchen, and Associated British Foods. These companies are focusing on widening their product range and innovating in terms of their offerings, besides looking into mergers and acquisitions

• In December 2020, Baxters Food Group completed the acquisition of Truitt Bros, a contract manufacturer of shelf-stable, thermally processed foods based in the US. The development is expected to prove vital in the company’s US and global growth strategy

Request for Sample Pages @ https://www.grandviewresearch.com/industry-analysis/soup-market/request/rs1

Soup Market Segmentation

Grand View Research has segmented the global soup market on the basis of product, distribution channel, and region:

Soup Product Outlook (Revenue, USD Million, 2015 – 2025)

     Canned
     Dried
     UTH
     Others

Soup Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)

     Supermarkets/Hypermarkets
     Convenience Stores
     Online

Soup Regional Outlook (Revenue, USD Million, 2015 – 2025)

     Meal
     Bakery & Confectionery
     Beverage
     Others

Soup Regional Outlook (Revenue, USD Million, 2015 – 2025)

     North America
        • U.S.
     Europe
        • Germany
        • The U.K.
     Asia Pacific
        • China
        • India
     Central & South America
        • Brazil
     Middle East & Africa

Speak to Analyst @ https://www.grandviewresearch.com/inquiry/5925/ibb

About Grand View Research

Grand View Research is a market research and consulting company headquartered in San Francisco. The organization offers syndicated as well as customized research reports, and consulting services catering to a number of critical industries across major regions and countries such as the US, Europe, Latin America, Asia Pacific, and the MEA.

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Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
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Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/soup-market


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