Soup Market Insights:
For a very long time, soups have been hailed as the ideal comfort food. Recent research on this market was released by Market Research Future, a company that specialises in market reports pertaining to the Food, Beverages, and Nutrition sector among others. It is projected that throughout the projection period, the industry would expand at an extraordinary CAGR rate and generate significant amounts of revenue.
The Soup Market Size is projected to register a CAGR of 5.4% by 2027 and is expected to reach approximately USD 19,655.9 million during the forecast period.
Due to the rising emphasis on leading a healthy lifestyle and eating well, the soup market is anticipated to undergo significant change throughout the projected period. The industry's growth has been further fueled by the rise in obesity incidence. The low-calorie content of the majority of the soup options currently available on the market has increased customer demand.
Regional Analysis:
The primary geographical segments for the worldwide soup market have been recognised as being South America, Europe, Asia-Pacific, North America, and Africa. Growing demand for nutritious foods like soup will be fueled by the concentration of obese people in the west, primarily in North America. In recent years, the European region held the largest market share, followed by the markets in the Asia-Pacific and North American continents. A better market share is held by countries in Europe like France, Spain, and the UK due to consumer desire for high-value soups and improved soup product packaging. Numerous health awareness efforts have resulted in an upsurge in demand for packaged soups in developed nations.The growth of the soup market in the European region has also been aided by an increase in consumer demand for wholesome meals that can be prepared quickly. Russia is currently the most lucrative market in Europe, with Italy and the United Kingdom following closely behind it in terms of demand. The soup market is predicted to experience significant growth during the anticipated period.
Key Players:
The key players for soup market are as follows: Associated British Foods PLC (U.K.),Conagra Brands Inc. (U.S.),TSC Foods (U.K.),Maruchan Inc. (U.S.),Premier Foods (U.K.),Campbell Soup Company (U.S.),The Kraft Heinz Company (U.S.),The Kroger Co. (U.S.),AMY's Kitchen Inc. (U.S.),General Mills Inc. (U.S.),Unilever PLC (U.K.), Symington's Ltd (U.K.), Hain Celestial (U.S.), Baxters Food Group Limited (U.K.), Kettle Cuisine LLC (US), The Original Soupman (U.S.)
Market Segmentation:
The Soup Market Overview on a global level has been divided into the divisions of regions, types, ingredients and formats.
By type, the market is further divided into Thick, transparent, and various types.
By Ingredients, the market is further divided into tomato, grain stew, chicken, meat, vegetables, and other ingredients.
By formats, Bowls, bags, cans, packs, boxes, cups, and more formats are available if we consider the market segmentation.
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