The Global Packaged Soup Market size is expected to reach $19. 1 billion by 2026, rising at a market growth of 10. 9% CAGR during the forecast period. Packaged soup is included in the convenience food category, also known as instant soup that is designed for quick and easy preparation.
New York, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Packaged Soup Market By Product Type, By Distribution Channel, By Packaging, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p06021505/?utm_source=GNW
Packaged soup has flexible packaging which keeps it fresh & safe throughout the dispensing process which is done with the help of sterile packaging technology. The packaged soups are produced on industrial as well as large scale.
Soup is considered as a nutritious and delicious meal and it is a rich source of vitamin A, B, K, C. Moreover, soup is low-fat liquid which makes them an ideal alternative for those who prefer a healthy diet as it has a huge ratio of water in it. Soup is the simplest method of adding vegetables to your daily meal. Eating warm/hot soups aid in clearing the sinuses with steam. Vegetable soups contain low calories and are rich in nutrients. On the other hand, non-veg soup assists in curing the physical maladies, and helpful in eliminating bacteria in the throat, mouth, and tonsils.
The market is boosted by the rising demand for convenience food. Moreover, the demand for packaged soups increases exponentially with the rise in awareness regarding the health advantages of soups. Soups have a rich content of nutrients, protein, vitamins, and minerals. The market is further driven by changing consumer lifestyles towards the consumption of healthy food items.
By Product Type
Based on Product Type, the market is segmented into Dried and Wet. The packaged soup market is dominated by dried soup products. This is owing to their high content of vitamins, proteins, nutrition, minerals in comparison to the other categories of convenience soup products. Furthermore, consumers prefer packaged soups over soups served in restaurants and food outlets due to the durability and easy access to the packaged soups.
By Distribution Channel
Based on Distribution Channel, the market is segmented into Supermarket/Hypermarket, Convenience store, Food service, Online store and others. On the basis of the distribution channel, the supermarket/hypermarket segment held the largest revenue share of the global packaged soup market. Hypermarket/Supermarket is gaining prominence due to the availability of a wide range of consumer goods at one stop, sufficient parking space, and convenient operation timings.
Based on Packaging, the market is segmented into Packets, Canned and Bottles. Pouch and cup are included in the packets segment. Leading players are employing innovating and appealing pouch-based packaging designs for soup as they are really effective and convenient. These innovative pouches which are currently being utilized in packaging dried soup aid in increasing the shelf life and decrease the risk of contamination and changes in their real taste.
By End User
Based on End User, the market is segmented into Household Sector and Commercial Sector. On the basis of end-user, the household segment was the largest revenue contributor in the global packaged soup market in 2019. This is owing to the paradigm shift of consumers from homemade convention soups to packaged soups across numerous demographics.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America held the highest share in 2019. Asia Pacific would showcase promising growth rate during the forecast period.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Hain Celestial Group, Inc., Conagra Brands, Inc., Nestle S.A., General Mills, Inc., Campbell Soup Company, B&G Foods, Inc., Ajinomoto Co., Inc., Unilever PLC, The Kraft Heinz Company and Kettle Cuisine LLC.
Strategies deployed in Packaged Soup Market
Apr-2019: Kettle Cuisine acquired Harry’s Fresh Foods, a privately held custom food manufacturing company. The acquisition brought expanded manufacturing footprint to Kettle Cuisine and further enhanced its ability.
Dec-2018: Ajinomoto is constructing a new plant for manufacturing soup and other products at its Kawasaki site at a cost of 20 billion JPY. Following the completion, the Kawasaki Knorr Foods operation would be moved into the new plant. With this expansion, the company is aiming at further growth in the soup business, and would increase production to accommodate this growth.
Sep-2018: Kettle Cuisine took over Soup Business from NORPAC Foods, Inc. The acquisition complemented its Soup business and transformed its soup business to a strong operator with a shared focus on customer service and is providing the highest-quality products to the market.
Dec-2017: Ajinomoto Co. signed an agreement with Nongshim Co. Following this agreement, the companies set up a joint venture for manufacturing Vono Soup in South Korea. The joint venture would start construction of a powder soup production plant in the site of the Nongshim distribution center in Pyeongtaek, Gyeonggi Province.
Dec-2017: Campbell Soup Company completed the acquisition of Pacific Foods of Oregon (Pacific Foods), a leading producer of organic broth and soup and also produces shelf-stable plant-based beverages and other meals and sides. The acquisition complemented Campbell’s health and well-being portfolio with its strong position in the faster-growing natural and organic category.
Scope of the Study
Market Segments covered in the Report:
By Product Type
By Distribution Channel
• Convenience store
• Food service
• Online store
By End User
• Household Sector
• Commercial Sector
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• The Hain Celestial Group, Inc.
• Conagra Brands, Inc.
• Nestle S.A.
• General Mills, Inc.
• Campbell Soup Company
• B&G Foods, Inc.
• Ajinomoto Co., Inc.
• Unilever PLC
• The Kraft Heinz Company
• Kettle Cuisine LLC.
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06021505/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001