The “Canned Soups Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Segments and Geography”. The scope of study involves understanding the factors responsible for the growth of the canned soups market along with estimates and forecast of the revenue and market share analysis. It also spots the significant market players and their key developments.

The global canned soups market was valued at US$ 4,889.04 million in 2019 and is projected to reach US$ 6,494.95 million by 2027; it is expected to grow at a CAGR of 3.8% during the forecast period. Soup is a good source of nutrition, minerals, vitamins, and protein; therefore, its demand is increasing across the world. Canned soup is basically a ready-to-eat or packed soup that can be made in the oven or microwave by heating the product at a certain temperature. Rising advancements in food and packaging technology and increasing variety of organic canned soup are propelling the demand for canned soup across the world.

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Based on type, the global canned soups market is bifurcated into condensed and ready-to-eat. The condensed segment led the market. Condensed canned soup products are produced by using a wide variety of seasonings and foods that offer high nutritional value. The consumption of condensed soup offers numerous health benefits as well as it is a concentrated source of protein and calcium, which play a vital role for the building of body. Thus, the market for condensed soup segment is expected to growth significantly during the forecast period.

Geographically, the global canned soups market is segmented into five regions— North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America held the largest share of the market in 2019, followed by Europe and Asia Pacific. The North America comprises a few of the major players such as Amy’s Kitchen Inc.; Campbell Soup Company; The Kraft Heinz Company; and General Mill, Inc.

Canned Soups Market Breakdown— by Region, 2019

The report includes the segmentation of the global canned soups market as follows:

• By Type

1. Condensed
2. Ready-to-Eat

• By Category

1. Vegetarian
2. Non-Vegetarian
3.  

• By Processing

1. Regular Soup
2. Organic Soup

• By Distribution Channel

1. Hypermarkets/Supermarkets
2. Convenience Stores
3. Online
4. Others

INCREASING DEMAND FOR CANNED SOUPS FROM VARIOUS END-USER APPLICATION TO BOOST IN THE GLOBAL MARKET

Soup is basically liquid food that is made from a combination of various ingredients. Soups are basically a good source of nutrition, minerals, vitamins, and protein, due to which the demand for soup is increasing across the world. Canned soup is basically a ready-to-eat or packed soup, which can be made in the oven or microwave by heating the product at a certain temperature. The advancement in food and packaging technology, along with the increased variety of organic canned soup has increased the demand for canned soup across the world.

Rapid shift in consumer food preferences, along with increasing health concerns, is driving the canned soup industry outlook. Canned soups offer various advantages such as convenience food products, time-saving, and easy availability of ready-to-eat canned soup are major factors estimated to dominate the global market demand. Processing the canned soups is easy and take less time for the preparation. The canned soup export business has also augmented in recent times owing to the high acceptance power for these products among consumers as well as brand awareness among the developing economies. Furthermore, the growing working population and increasing preferences for processed food products due to their health benefits boost demand for canned soup products. In addition, shifting of rural population to urban areas in developing countries of Asia Pacific, such as China and India, is also projected to increase demand for the various consumers’ goods, which is also expected to boost demand for canned soups market.

The key players providing canned soup 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., and Hain Celestial Companies. These companies provide a wide range of product portfolios for the canned soups market. These companies have their presence in the developing regions, which provides a lucrative opportunity for canned soup products. These market players are highly focused on the development of high quality and innovative products to fulfill the customer’s requirements. The companies have realized the immense potential pertaining to canned soup and were observed highly involved in mergers and acquisitions, product news, and market initiatives.

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