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Soups Market Opportunity Analysis 2019 to 2026 | Nissin Foods Holdings Co. Ltd, The Kraft Heinz Company, and Unilever Plc.

06-24-2019 08:04 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insight

Soups

Soups

A liquid food generally served as a quick hot meal, soup provides several health benefits due to the presence of several health promoting ingredients such as meat, lentils, or beans and vegetables which make it a power pack of minerals, vitamins, and nutrients.The invention of canning in the 19th century was responsible for the initial commercializing of soup in the food market.
The rising awareness about health risks associated with the consumption of preservatives in ready-to-cook soups is a major restraint for soups market. However, many manufacturers are introducing products with low preservative content.

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Key market players in the soups market are Associated British Foods, Baxter’s Food Group, B&G Foods, Inc., Campbell Soup Co., Greencore Group Plc., General Mills, Inc., Nestlé S.A., Nissin Foods Holdings Co. Ltd, The Kraft Heinz Company, and Unilever Plc.

Soups Market Taxonomy
Based on product type, the soups market is segmented into
• Canned
• Chilled
• Dried
• Frozen
• UHT
Based on distribution channel, the soups market is segmented into
• Supermarkets
• Hypermarkets
• Convenience stores
• E-commerce

Dried soup is projected to be the largest segment in the soups market, owing to the high demand for quick meals. Demand for canned soups is decreasing, owing to the increasing health awareness of consumers about the presence of preservatives in these soups and dislike for heavy metal packaging. Furthermore, consumers prefer soups, which are easier to open as compared to canned soups and come in biodegradable packaging. Hypermarkets and supermarkets are the biggest and favorable distribution channels in the soups market.

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Soups Market Outlook
• Europe holds a major share in the global soups market. This is, as a result of the growing demand for high-quality meals that can be prepared in short time. The U.K., France, Russia, Spain, and Germany are the major contributors to the growth of soups market in this region.

• Asia Pacific is projected to be the fastest growing market over the forecast period, owing to the availability of a wide variety of products in the market and changing consumer preference toward healthier products. Furthermore, abundance of raw materials, especially in India and China, is further fueling the growth of soups market. The market in Asia Pacific is highly cost competitive, owing to which, many brands such as Knorr by Unilever Plc. are launching inexpensive variants in local authentic flavors to attract consumer attention.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysisthrough various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Coherent Market Insights
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