The canned soup market has witnessed significant growth in recent years due to the convenience it offers to consumers. Canned soups are a quick and easy meal option, saving time and effort in the kitchen. With an increasing number of working individuals and busy lifestyles, the demand for ready-to-eat meals is soaring. Additionally, the pandemic has further driven the market, as people seek shelf-stable, long-lasting food options during lockdowns.
The global canned soup market is anticipated to rise at a CAGR of 6.6% over the projected period, reaching a market value of US$ 2.8 Bn by 2022.
Furthermore, consumers prefer canned soup products to alternative protein sources because of benefits such as balanced macro and micronutrients, as well as high protein content. As the consumption of processed foods is increasing across the globe, the demand in the market is expected to surge.
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Other factors influencing the growth in the market include an increase in the working population, a fast-paced lifestyle, and per capita spending on processed food goods, among others. Also, the growing demand for ready-to-eat food products and rising health concerns will boost the market.
Canned soups are widely available, handy, and convenient as ready-to-eat food products. With the growing prevalence of obesity in North America, the demand for boxed soups made with natural, fresh ingredients and minimal preservatives is increasing.
Key Takeaways
- The U.S. canned soup market is expected to witness the fastest growth over the forecast period due to the high presence of leading companies.
- Europe canned soup market will surpass US$ 868 Mn, accounting for 31% of the demand share in the global market
- Based on type, the condensed soup segment will remain dominant due to increased health benefits.
- In terms of processing, the organic condensed soup will remain highly sought-after over the forecast period.
“Increased demand for packaged and ready-to-eat food products will favor the sales of canned soup across the globe. With increased spending on convenient food products, key players are likely to introduce new flavors to expand their consumer base”, says a lead analyst at Future Market Insights.
Competitive landscape
Some of the players in the market are Campbell Soup Company Amy’s Kitchen Inc, General Mills Inc., The Kraft Heinz Company, Baxters Food Group, Unilever, Struik Foods Europe NV, Vanee Foods Company, BCI Foods Inc., Hain Celestial.
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Future Market Insights, in its new offering, provides an unbiased analysis of canned soup presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032
Canned Soup Market By Category
By Type:
- Condensed
- Ready-to-eat
By Category:
- Vegetarian
- Non vegetarian
By Processing:
- Regular Soup
- Organic Soup
By Distribution Channels:
- Supermarkets
- Hypermarkets
- Convenience Stores
- Specialty Stores
- Online
- Others
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The report covers an exhaustive analysis on:
- How big is the canned soup market?
- What is the CAGR of the canned soup market for the period 2022- 2032?
- What is the North America canned soup market share?
- What are the key trends shaping the canned soup market?
- Which region is expected to be the fastest growing in the canned soup market?
- What are the key players in the canned soup market?
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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