Global Packaged Soups Market 2016-2020

Overview of the global packaged soups market

The global packaged soups market is anticipated to grow at a steady rate and will post a CAGR of more than 4% during the forecast period. Increasing investments made by major players in start-ups will drive the growth prospects for the global packaged soups market until the end of 2020. It has been observed that a multitude of major players are investing in start-ups to introduce innovative and new products in the market. For instance, General Mills invested about USD 1 million in Tio Gazpacho, which manufactures chilled, ready-to-drink vegetable soups. Similarly, Campbell Soup Company formed its venture capital project to fund food start-ups and invested about USD 125 million in the venture capital fund. Similarly, a consumer products incubator and venture fund called Sonoma Brands launched its first chilled ready-to-drink soup product under the brand ZUPA NOMA, which is used as a liquid meal replacement. Such funding and investments by the manufacturers are expected to increase in the coming years.

In terms of geography, the Americas accounted for the maximum market share during 2015 and will continue to dominate the market for the next few years. In this region, the market for packaged soup products is growing rapidly as most consumers prefer products that can be consumed directly without any preparation. Other factors that are responsible for this market’s growth are the rising disposable income of the populace and increasing urbanization.

Competitive landscape and key vendors

The market is highly fragmented and dynamic due to the presence of a huge number of regional and international players. Since the market is highly competitive, vendors are competing against each other on the basis of new product launches, innovative packaging, and increased marketing activities to maintain their market shares. The growing prominence of private label brands will further intensify the product competition in the market during the forecast period.

Key vendors in this market are -

• Campbell Soup Company
• ConAgra Foods
• General Mills
• Greencore
• Hain Celestial

Other prominent vendors in the market include Amy's Kitchen, Baxters Food, Kettle Cuisine, New Covent Garden, Pacific Foods, and The Real Soup Company.

Segmentation by product and analysis of the packaged soups market

• Microwavable soups
• Ready-to-drink soups

The global microwavable soup market segment accounted for the maximum market share during 2015 and is expected to grow during the forecast period. A major factor that drives the market segment’s growth is the increasing hectic lifestyle of people worldwide. Due to this change in the lifestyle, consumers are looking for food products that are healthy and can be consumed with minimum preparation. This has compelled manufacturers to come up with microwavable soup products that can be directly microwaved and consumed.

Segmentation by distribution channel and analysis of the packaged soups market

• Supermarkets and hypermarkets
• Cash and carry stores
• Convenience stores

In 2015, supermarkets and hypermarkets segment accounted for the maximum market share in terms of revenue and will continue remain the main channel for the distribution of packaged soup products during the forecast period.  One of the factors driving this market segment’s growth is the growing organized retail sector in developed and developing economies. Also, in developing countries, factors such as increasing urbanization and convenience of the supermarket and hypermarket retail format are increasing the number of these outlets.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global packaged soups market?
• What are the key market trends impacting the growth of the global packaged soups market?
• What are the challenges to market growth?
• Who are the key vendors in the global packaged soups market?
• What are the market opportunities and threats faced by the vendors in the global packaged soups market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global packaged soups market?

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