Canned Soups Market : Size, Share, Trends, Current and Future Analysis | US$ 6,494.95 million by 2027

According to a new market research report "Canned Soups Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Condensed and Ready-to-Eat), Category (Vegetarian and Non-Vegetarian), Processing (Regular Soup and Organic Soup), and Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online, and Others)" published by TheInsightPartners, the canned soups market size is projected to grow from US$ 4,889.04 million in 2019 to US$ 6,494.95 million by 2027, at a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period.

A few key players operating in the canned soup market 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 portfolio for canned soups market. They also have their presence in the developing regions, which provides lucrative opportunities for the growth of the canned soup market.

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High demand for ready-to-eat food products, rapid shift in consumer food preferences, and increase in health concerns are driving the growth of the canned soup market. Canned soups is a ready-to-eat convenient food product that is easily available in the market. Processing the canned soups is easy and takes less time for the preparation. Canned soup export business has also augmented in recent times owing to the high acceptance power for these products among consumers and 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 in Asia Pacific-such as China and India-is also projected to increase the demand for various consumer goods, which is also expected to boost the growth of the canned soups market during the forecast period.

In 2019, North America contributed to the largest share in the global canned soups market. Increasing instance of obesity and rising campaigns regarding health awareness in the North America propelled the demand for packaged soup having natural and fresh ingredients. Therefore, the demand for canned soup has also increased and manufacturers are providing different flavors to the consumers. The increase in the variety of products, surge in the consumption of healthy products, and promotion by the key players in the region have increased the demand for canned soup in North America.

Market Insights

High Shelf Life of Canned Food Products
The shelf life of any canned soup is the amount of time it requires to degrade to the non-palatable state. Shelf life extension ingredients added in the canned soup products slow down the process of food degradation and enable longer storage of the food items. They are both organic and conventional in origin. Shelf life extension ingredients also aid in the keeping food logistics decongested, sustain canned soups in frozen areas, and improve consumer confidence over stability of food items. Consumers have become more aware about their diet. Health benefits such as improved immunity, lower caloric intake, and high protein intake are other factors expected to influence the product demand.

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Type Insights

Based on type, the global canned soups market is bifurcated into condensed and ready-to-eat. In 2091, 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.

Canned Soups Market, by Type
Condensed
Ready-to-Eat

Canned Soups Market, by Category
Vegetarian
Non-Vegetarian

Canned Soups Market, by Processing
Regular Soup
Organic Soup

Canned Soups Market, by Distribution Channel
Hypermarkets/Supermarkets
Convenience Stores
Online
Others

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Key points from Table of Content:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Canned Soups Market Landscape

5. Canned Soups Market- Key Market Dynamics

6. Canned Soups - Global Market Analysis

7. Canned Soups Market Analysis - By Type

8. Canned Soups Market Analysis - By Category

9. Canned Soups Market Analysis - By Processing

10. Canned Soups Market Analysis - By Distribution Channel

11. Canned Soups Market - Geographic Analysis

12. Impact of COVID-19 Pandemic on Global Canned Soups Market

13. Key Company Profiles

14. Appendix

LIST OF TABLES

LIST OF FIGURES

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