Canned Soups Market Size Worth US$ 6,494.95 million By 2027; CAGR of 3.8% | The Insight Partners

The canned soups market is expected to grow from US$ 4,889.04 million in 2019 to US$ 6,494.95 million by 2027; it is estimated to grow at a CAGR of 3.8% from 2020 to 2027.

Report Spotlights:

• Progressive industry trends in the global canned soups market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the market from 2017 to 2027
• Estimation of the demand for canned soups across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and the demand for canned soups
• Market trends and outlook coupled with factors driving and restraining the growth of the canned soups market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the growth of the global canned soups market
• Canned soups market size at various nodes of market
• Detailed overview and segmentation of the global canned soups market as well as its dynamics in the industry
• Canned soups market size in various regions with promising growth opportunities

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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.

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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.

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

Company Profiles:
• 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.
• Hain Celestial

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This release was published on openPR.