Global Packaged Soup Market, By Product Type (Microwavable Soups, Ready-To-Drink Soups) By Distribution Channels (Cash and Carry Store, Convenience Store, Supermarket and Hypermarket) and opportunities and forecast 2020-2027
Packaged Soup Market Overview In recent years, the global market for packaged soup, one of the most promising branches of the global packaged food and beverage sector, has risen to become one of the most popular food products around the world. Rapid urbanization, busy lives, and a large increase in demand for packaged and ready-to-consumer food goods from the urban population are all contributing to the massive increase in demand for packaged soup around the world.
Growth opportunities have exploded in recent years, including several food and beverage and fast-moving consumer goods (FMCG) companies that have come to the industry to take advantage of the tremendous potential. The availability of a wide range of product variety in terms of preparation methods, ingredients, and flavours, combined with the rapid expansion of supermarket and hypermarket chains across a number of emerging economies, is further propelling the market growth.
However, as customers become more aware of the dangers of preservatives used to extend shelf life, they are less likely to consume packaged soups, slowing the growth of the packaged food market.
| Report Metric |
Details |
| Market size available for years |
2019–2027 |
| Base year considered |
2019 |
| Forecast period |
2020–2027 |
| Forecast unit |
Value (USD Million) |
| Segments covered |
Product Type, Distribution Channels, and Region. |
| Regions covered |
North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered |
ConAgra Foods, Campbell Soup Company, Greencore, General Mills, Baxters Food Group, Hain Celestial Group, Pacific Foods. |
Covid-19 Impact on Packaged Soup Market A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, supply chain, training, safety, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in the beverage industry is facing a devastating effect of a pandemic. Around 13% to 15% of the craft beer sector in the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused to shut down of many small to medium food processing companies around the world.
Packaged Soup Market Segment Overview
According to Product Type, Microwaveable Soup is one of the largest segments in the global packaged soup market. In the near future, the global packaged soup industry is projected to experience a boom in demand for microwavable soup. The growing global working class, combined with changing lifestyles, is prompting consumers to seek nutritious food options that need minimal preparation time, resulting in increased demand for microwavable soup products.
Packaged Soup Market, By Product Type
· Microwavable Soups
· Ready-To-Drink Soups
Packaged Soup Market, By Distribution Channels
· Cash and Carry Store
· Convenience Store
· Supermarket and Hypermarket
Packaged Soup Market Regional OverviewRegion-Wise, North America commanded a major share of the market and is predictable to maintain its supremacy over the forecast period. People's increasingly hectic lifestyles are leading them to gravitate toward convenience foods that may be enjoyed right away without any preparation. The region's growth is also propelled by rapid urbanization and increasing consumer spending power. The changing lifestyles of the population can be credited with Europe's expansions. Moreover, Asia Pacific will have high growth over the same period due to the expanding population of working professionals. The market is expanding as a result of rising urbanization and disposable income, which is encouraging the sale of packaged foods.
Packaged Soup Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Packaged Soup Market, Key Players· ConAgra Foods
· Campbell Soup Company
· Greencore
· General Mills
· Baxters Food Group
· Hain Celestial Group
· Pacific Foods
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Packaged Soup market?
A. Rapid urbanization, busy lives, and a large increase in demand for packaged and ready-to-consumer food goods from the urban population are all contributing to the massive increase in demand for packaged soup around the world
Q2. What are the restraining factors for the global Packaged Soup market?
A. As customers become more aware of the dangers of preservatives used to extend shelf life, they are less likely to consume packaged soups, slowing the growth of the packaged food market
Q3. Which segment is projected to hold the largest share in the global Packaged Soup market?
A. Microwaveable Soups segment is projected to hold the largest share in the global Packaged Soup market.
Q4. Which region holds the largest share in the global Packaged Soup market?
A. North America held the largest share in the global Packaged Soup market.
Q5. Which are the prominent players in the global Packaged Soup market?
A. ConAgra Foods, Campbell Soup Company, Greencore, General Mills, Baxters Food Group, Hain Celestial Group, Pacific Foods. are some key players in the global Packaged Soup market.
