Soup Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast | Growth Market Reports

The Asia Pacific soup market is projected to expand at a CAGR of 6.1% during the forecast period, 2021 - 2028. The growth of the market is attributed to the rising disposable income coupled with increasing demand for convenience foods.

Soup is a liquid dish, which is usually made by adding savories and spices to add flavor to it. Changing lifestyle is expected to positively influence the growth of the market. Growing demand for healthier and tastier food alternatives along with the rise in the sedentary lifestyle is expected to fuel the soup market in the region. Factors, such as high availability, lesser cooking time, travel friendly, and good shelf life are adding value to the Asia Pacific soup market.

Get Exclusive Sample Report at: https://growthmarketreports.com/request-sample/1080

Market Drivers, Restraints, Trends, and Opportunities

Rising western influence on countries such as India and Australia and increasing awareness of the health benefits of soup are anticipated to proliferate the market growth.
The COVID-19 pandemic had increased the demand for ready-to-eat food products. This, in turn, has stimulate the growth of the market.
Increasing number of industry players that are preparing soup by adding natural additives are expected to boost the market growth.
Market Segment Insights

Vegetarian soup segment to account a major market share

Based on categories, the market is segregated into vegetarian soup and non-vegetarian soup. The vegetarian soup segment is projected to account for a major market share during the forecasted period. Increased consumption of vegetarian soups owing to increasing inclination toward fitness activities. Moreover, rising number of people opting for vegan lifestyle is expected to propel the market segment.

Canned/reserved soup segment to exhibit a high CAGR

In terms of types, the market is divided into canned/preserved soup, chilled soup, dehydrated soup, and others. The canned/preserved soup segment is expected to exhibit a high CAGR during the forecast period. Increasing consumption of canned soup owing to convenience and easy availability in the supermarkets and convenience stores are expected to propel the market segment.

Supermarkets/Hypermarkets to hold a significant market share

Based on distribution channels, the market is classified as supermarkets/hypermarkets, convenience stores, online retail and others. The supermarkets/hypermarkets segment is projected to drive the Asia Pacific soup market during the forecast period. Increasing visitors in the hypermarkets owing to easy availability and presence of preferred brands at reasonable prices is speculated to foster the segment growth.

China to dominates the market

Based on geographies, the market is categorized as China, Japan, India, Australia and Rest of Asia Pacific. Increasing consumption of soup in China owing to easy availability and presence of healthy soups is driving the growth of the market in the country. The soup market in China is expected to benefit from this trend during the forecast period. The growth of the market in China is expected to be further supported by an expansion of the ready-to-eat food market in the coming years. Conversely, the market in India is anticipated to grow at a sustainable rate owing to rising trend of opting ready-to-eat food products. Moreover, increasing number of hypermarkets and supermarkets is expected to benefit the market in India.

For Any Questions On This Report: https://growthmarketreports.com/enquiry-before-buying/1080

Compititive Landscape

The major players of the market include Bambino, Campbell Soup, ConAgra Foods, Nestlé and Unilever. The demand for exotic and natural flavors is high in the countries in the region.

Companies are introducing new flavors in countries such as India, Japan, and China to expand their market share. Major players are launching promotional campaigns to increase the awareness about the health benefits of soup.

Contact:

Growth Market Reports

Phone: +1 909 414 1393

Email: sales@growthmarketreports.com

Web: https://growthmarketreports.com

Follow Us: LinkedIn | Twitter

About Growth Market Reports:

GMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Industry Intelligence Solutions". GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.

This release was published on openPR.