Canned Soups Market Forecasts to 2028 – Global Analysis By Type (Condensed and Ready-To-Eat), Category (Non Vegetarian and Vegetarian), Processing, Ingredient, Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Canned Soups Market is accounted for $5,074.82 million in 2020 and is expected to reach $7,967.21 million by 2028 growing at a CAGR of 5.8% during the forecast period. Rapid shift in food preferences of consumers, rise in health concerns and growing demand for ready to eat food products are driving the market growth. However, restrictions on manufacturing processes and R&D activities due to Covid-19 are hampering the growth of the market.
Canned soups are a ready to eat convenient food product that is readily available in the market. They are stored in cans for consumers to comfortably pick and have on the go. Processing the canned soups is simple and takes little time for the preparation. The shelf life of any canned soup is the amount of time it requires to degrade to the non-palatable state.
Based on the type, the condensed segment is going to have lucrative growth during the forecast period as they are produced by using a high variety of seasonings and foods which offer rich nutritional value. Furthermore, there are adequate health benefits offered by the consumption of condensed soup which is boosting the growth of the market.
By geography, North America is going to have high growth during the forecast period which can be attributed to the rise in cases of obesity and health concerns which demands the consumption of packaged soups containing fresh and natural ingredients with least preservatives. This has led to the expansion of product range in the region which is boosting the market growth.
Some of the key players profiled in the Canned Soups Market include Baxters Food Group, Campbell Soup, General Mills, House Foods Group, Kraft Heinz, Kroger, Nestle, Nissin Foods, NK Hurst Company, Premier Foods and Unilever.
Estimated Market Size in 2020:
USD 5,074.82 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 7,967.21 million
Tables, Graphs & Figures
Type, Category, Processing, Ingredient, Distribution Channel, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Non Vegetarian
• Organic Soup
• Regular Soup
• Mixed Vegetables
Distribution Channels Covered:
• Convenience Stores
• Departmental and Traditional Grocery Store
• Food Speciality Stores
• Online Retailers
• Super Markets & Hyper Markets
End Users Covered:
• Food & Beverage
• Healthcare & Nutrition
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Canned Soups Market is majorly driven by rapid shift in food preferences of consumers, rise in health concerns and growing demand for ready to eat food products.
The online retailers segment is growing at a highest CAGR owing to increase in technological advancements and growing number of consumers online.
North America dominated with a significant market share due to the factors such as rise in cases of obesity and health concerns which demands the consumption of packaged soups containing fresh and natural ingredients with least preservatives.
Asia Pacific market is growing at a highest CAGR owing to growing consumer awareness and rising disposable incomes in emerging countries like India and China in the region.
Key players in Canned Soups Market include Baxters Food Group, Campbell Soup, General Mills, House Foods Group, Kraft Heinz, Kroger, Nestle, Nissin Foods, NK Hurst Company, Premier Foods and Unilever.
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