Soup Market in Europe is Gearing up to Reach US$ 5008.1 million by end of 2020

The Europe soup market has emerged significantly in the last couple of years and is expected to expand further by the end of 2020. The hectic daily schedule of people living in Europe and their shifting preference towards healthier food are expected to boost the demand for soup in major European countries such as France, UK, Russia and Germany among others. Additionally, the availability of a wide range of products, growing popularity of health and wellness trends and active promotion by soup manufacturers have emerged as key driving forces of soup markets in European nations.

Europe Soup Market - Trend and Market Segmentation

The Europe soup market is studied largely on the basis of types of soups and their corresponding demand generated in individual countries.

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With the evolution of technology, consumers today are treated with better and wider options of soup types. According to types of soups, the Europe soup market can be classified into variants of chilled soups, frozen soups, canned soups, UHT soups and dried soups. This segmentation promotes better understanding in terms of volume and value of soup consumption across different European nations.

The market for canned soup among others is experiencing bit of a setback in its European pockets. Trends depict a declining interest among customers towards metal canned soups since they are difficult to open. Moreover, given their heavy packaging formats, these canned soup containers are also responsible for carbon footprints. Soup manufacturers in Europe can capitalize on the huge scope in market to increase the demand for their products by replacing the traditional metal canned containers with newer and more improved stand up pouches.

Among the different types of soups available in the market, the consumption of dried soups has emerged as a favorite among consumers. The market for dried soups has registered a steady increase in demand and significant growth is predicted in the period between 2014 and 2020. People living in European nations lead fast paced lives and quick meals have come across as the most convenient dietary option for them. This lifestyle has given a boost to the demand for dried soups in European markets. However, canned soups could fetch only little from this lucrative trend, since most people believe that the metal format soups contain preservatives which are harmful for health and should be avoided.

Growth Prospect across European Nations

Nation wise the market for soup in Europe can be segmented into UK, Italy, France, Germany, Spain and Russia. In countries like France, Russia and UK the demand for soup is expected to grow significantly in the years to come. This can be attributed to the rising health consciousness that has further increased the demand for western and healthier food. The soup market in Germany is also expected to grow in the forecast period.

The market for soups in Russia and UK is expected to register growth at a higher CAGR compared to other European nations in the forecast period. The increasing demand for healthy and affordable food, changing demographics and other similar factors is anticipated to boost the soup market in Italy as well.

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Among the different European nations the market behavior in Spain is distinctly different from the rest of Europe. Due to a high rate of unemployment, soup consumers across the country sees price as a key variable while making their purchase decisions. This has resulted in mottled shopping habits among soup consumers in Spain. Hence, the growth prospect of soup market in the country seems meager. Similarly consumers in France consume soup only during winters. Manufacturers therefore, are investing on product
innovation so that they can boost soup consumption in France throughout the year.

Soup in European region is distributed through chains of supermarkets, hypermarkets and convenience stores, cash and carries and food and drinks specialists.

Key Players - Dominant brands in Europe Soup Markets

Knorr, Maggi, Heinz, Liebig and Progresso among others enjoy having the maximum market share in the European region. For instance, the soup market in France is dominated by Knorr and Maggi. In 2014, the Europe soup market was valued at US$ 3919.1 million and it is predicted to reach US$ 5008.1 million by the end of 2020 registering growth at a CAGR rate of 4.2% in the forecast period.

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