Revenues from North America Soups Market will Surpass US$5.7 bn by 2020-End

North America Soups Market: Snapshot

The North America soups market, over the forecast period, is prophesied to earn a fighting fit growth due to the rocketing want for healthy food items. In countries such as Mexico, Canada, and the U.S., the burgeoning demand for ready-to-go meals and more common busy lifestyle could support the ascending consumption of soups. The changing perception about soups as a healthier food choice, frequently chosen quick meals, and launch of premium and novel flavors are expected to propel the growth of the North America soups market.

As projected by the expert panel of analysts at Transparency Market Research (TMR), the North America soups market could draw a revenue of US$5.7 bn by 2020 from US$5.5 bn in 2016.

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Soup Producers to Revive Younger Market with Lip-smacking Tangs

Though not the case with other regions of the world, soups form a major part of the everyday diet in most North America countries. As the people of North America look to save time on meals by opting for quicker alternatives and demand new flavors of soups such as masala curry and red pepper, the market is anticipated to attract a commendable growth during the forecast years. The most popular types of soups prevailing in the North America soups market are ultra-high temperature (UHT), frozen, dried, chilled, and canned soups.



Despite a variety of soups available in the North America soups market, consumers prefer particular varieties over other types. For instance, canned soups are considered as an inferior or old type of food. Few consumers have a similar perception about packaged soups and regard them as a relatively less healthy type of food. Such perceptions could act as barriers impeding the growth of the North America soups market. Primarily, the consumer base of the North America soups market features adult females, one-person households, and people aging 60 years and above. Moreover, the younger consumers considering soups as having a monotonous taste has made the product less popular amongst them.

Nonetheless, the recent efforts taken by leading players to target the younger demographic with interesting and premium tastes are predicted to revive the North America soups market once again. Even in terms of volume, the market is foretold to showcase a robust growth.

Soups have been a traditional food item in the North America region. The report points out that busy lifestyle has led to increased consumption of soups in North American households. The growing inclination towards healthy and natural-ingredient-based foods has impelled manufacturers to ensure that the newly launched products in soup market carry attributes such as fresh ingredients and minimum preservatives. All these factors will boost the growth of the North America soup market during the forecast horizon. On the basis of product type, the report segments the North America soup market into dried, canned, chilled, UHT, and frozen soups. Dried soups or soup powders are preferred owing to the convenience offered by the packaging of the product. Dried soups are typically available in small sachets, and can be consumed immediately after mixing with water. This makes them easy to carry. As canned soups are perceived as highly processed, the demand for canned soups is gradually decreasing. According to the report, the North America region will exhibit steady demand for chilled soups and dried soups. The demand for chilled soups will be particularly high in Mexico compared to the U.S. and Canada during the forecast period.

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In terms of distribution channels, the report categorizes the North America soup market into supermarkets, hypermarkets, convenience stores, and food and drinks specialists. The report states that supermarkets, hypermarkets, and convenience stores will continue as the most preferred channels for distribution.The report studies the North America soup market across three key countries: the U.S., Canada, and Mexico. In terms of volume and value, the North America soup market is dominated by the U.S. During the forecast period, Mexico is expected to display rapid growth owing to the growing purchasing power among the population.

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