Canned Soups Market 2020 with (Covid-19) Impact Analysis: Growth Latest Trend Analysis and Forecast 2027
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Canned Soups Market Company Profiles Analysis:
• Campbell Soup Company
• Amy's Kitchen Inc
• General Mills Inc.
• The Kraft Heinz Company
• Baxters Food Group
• Struik Foods Europe NV
• Vanee Foods Company
• BCI Foods Inc.
• Hain Celestial
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Canned Soups Market based on the deployment type and application. It also provides market size and forecast till 2028 for overall Canned Soups Market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
Baking Ingredients Market: Segmental Overview
Soup is a good source of nutrition, minerals, vitamins, and protein; therefore, its demand is increasing across the world. Canned soup is basically a ready-to-eat or packed soup that can be made in the oven or microwave by heating the product at a certain temperature. Rising advancements in food and packaging technology and increasing variety of organic canned soup are propelling the demand for canned soup across the world.
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. Moreover, canned soups with high shelf life also comprise high content of nutrition, minerals, vitamins, and proteins. On a global level, youngsters are preferring to purchase premium goods due to health attributes and are ready to change their habits toward healthier nutrition. Canned soup made from fresh vegetables, and bone and meat has gained tremendous popularity as it offers various health benefits and nutrition as well as it has a high shelf life. In addition, consumers are opting for canned soup products over other protein sources owing to its benefits such as the presence of macro and micronutrient in good proportion with a high concentration of protein. Additionally, packed soups are majorly preferred over soups served in the restaurants and food outlets due to ease of access as well as durability of packages. Drinking canned soups or making a simple soup help add more protein into the diet and prevents one from consuming too many calories. Thus, consumer's inclination toward nutrition-based canned soup drives the market growth.
• Regular Soup
• Organic Soup
By Distribution Channel
• Convenience Stores
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Impact of COVID-19 Pandemic on Canned Soups Market
The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. As of January 2021, the US, Brazil, India, Russia, South Africa, Mexico, and the UK are among the worst-affected countries in terms of confirmed cases and reported deaths. The pandemic is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The growth of the canned soups market is hindering due to the shutdown of factories, obstacles in supply chain, and downturn in world economy.
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The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2022-2028? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Canned Soups Market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Canned Soups Market?
4. What are the prominent market trends influencing the development of the Canned Soups Market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Canned Soups Market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?
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