Exhibiting a healthy CAGR of 5.6%, the global ready-to-eat wet soups market will make substantial gains during the forecast period, 2019-2029. Upsurge in the on-the-go food consumption trend among a massive working population would be the key growth driver. In addition, the rising demand for cost effective alternatives to cooking is driving the consumption of ready-to-eat wet soups across the globe.
“Strategic placement of trending products such as vegan soups or high revenue options such as chicken tomato and mushroom soup can be used to generate interest among customers,” opines Fact.MR in its new research study.
Ready-to-Eat Wet Soup Market – Key Takeaways
- Non-vegetarian based ready-to-eat wet soups capture over three fourths of overall market share, owing to rising global meat consumption.
- Driven by increased production in Europe and North America, conventional ready-to-eat wet soups are likely to grow 1.7x.
- North America and Europe are leading the global ready-to-eat wet soups market; East Asia and South Asia & Latin America will generate major growth avenues.
- East Asia will account for more than 10% of the global market, and display substantial growth over the forecast period.
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Ready-to-Eat Wet Soup Market – Key Driving Factors
- The rising trend of ready-to-eat packaged meals, particularly among millennial consumers is a key factor driving the adoption of ready-to-eat wet soups.
- A widespread portfolio of ingredients and flavors in the global ready-to-eat wet soup industry will widen investment opportunities.
- Rising demand for soup through modern trade channels such as supermarkets and hypermarkets will augment demand.
Ready-to-Eat Wet Soup Market – Key Restraint
- Health concerns among consumers about the adverse effects of consuming processed foods remains a major hindrance to the global market.
Ready-to-eat wet soup manufacturers are investing in strategic product positioning in retail channels to keep up with prevalent consumer trends. Manufacturers are also investing in changes to packaging formats and smart labeling trends. Key players in the ready-to-eat wet soups market include Conagra Brands Inc., Campbell Soup Company, Princes Limited, The Kraft Heinz Co., Baxters Food Group Limited, Amy’s Kitchen Inc., General Mills Inc, and Hain Celestial Group Inc., among others.
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About the Report
This 170-page research study offers an extensive analysis of the global ready-to-eat wet soup market, covering historical and forecast data for the predefined timeframe. The report delivers compelling insights on the basis of ingredient type (vegetarian soups and non-vegetarian soups), nature (organic and conventional), packaging type (bottles, cans, and packets), and sales channel (HoReCa and B2C) across key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).