The global canned soup market size is projected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to inclination toward ready-to-eat canned soups owing to convenience, efficiency of preparation, and longer storage stability.
Industrial soup became prevalent with the discovery of canning in the 19th century, and now a wide range of canned soups are available in the market. Canned soup can be used for consumption by mixing water or milk.
Canned soups are found in a wide range of combinations, tastes, and variations to meet the different requirements of customers. The worldwide canned soup business is focusing on attracting customers by providing nutritious advantages as well as a pleasant flavor.
The report on the global canned soup market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Canned Soup Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Processing (Organic Soup and Regular Soup), Categories (Vegetarian and Non- Vegetarian), Types (Ready-to-eat and Condensed), Distribution Channels (Food Specialty Stores, Convenience Stores, Online Stores, and Supermarkets/Hypermarkets) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | The Campbell Soup Company; The Kraft Heinz Company; Nestle S.A; General Mills Inc.; Unilever, and Others |
Based on processing, the market is bifurcated into organic soup and regular soup. The organic soup segment is anticipated to hold a key share of the market in the coming years due to rising demand for the products with high content of nutrition, minerals, vitamins, and proteins. Moreover, rising disposable income of consumers and increasing spending on organic products are expected to boost the segment market growth.
On the basis of categories, the canned soup market is segregated into vegetarian and non- vegetarian. The vegetarian segment is projected to expand at a considerable CAGR during the forecast period. Young population are buying premium items owing to health benefits, and they are inclining themselves toward eating healthy products. This, in turn, is stimulating the segment growth. On the other non- vegetarian segment is anticipated to account for a major market share during the forecast period due to rising demand for meat products that are high in protein.
In terms of types, the market is divided into ready-to-eat and condensed. The condensed segment is projected to expand at a considerable CAGR during the forecast period. Condensed products contain essential minerals such as calcium and magnesium in large amounts and it provides long shelf life. Moreover, increasing demand from the food industry is contributing to the market segment growth.
Base on distribution channels, the canned soup market is categorized as food specialty stores, convenience stores, online stores, and supermarkets/hypermarkets. The food specialty stores segment is expected to constitute a key share of the market during the projected period. The general convenience of access and durability of the packaging, packaged soups are preferable over soups served in restaurants and other food retailers.
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period. Wide expansion in term of R&D investment for the development of canned soup products acts as a major driver of the market growth in the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period. The growth of the market in region is attributed to increasing demand for canned soup in countries such as India and China.
Segments Covered in the Report
The global canned soup market has been segmented on the basis of
Processing
Categories
Types
Distribution Channels
Regions
Keywords
The market is very competitive in nature owing to the presence of many major players. Some of the major players competing in the global canned soup market are The Campbell Soup Company; The Kraft Heinz Company; Nestle S.A; General Mills Inc.; Unilever, And Others.
Segments Covered in the Report
The global canned soup market has been segmented on the basis of
Processing
Categories
Types
Distribution Channels
Regions
Keywords
The market is very competitive in nature owing to the presence of many major players. Some of the major players competing in the global canned soup market are The Campbell Soup Company; The Kraft Heinz Company; Nestle S.A; General Mills Inc.; Unilever, And Others.
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