Canned Soup Market Size, Growth, Revenue Share Analysis, Company Profiles, and Forecast

The global Canned Soup 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.

The North America is anticipated to account for a remarkable share of the global canned soup market during the forecast period. 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.

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Analysis of the Top Market Players:

1. Campbell Soup Company
2. Amy's Kitchen Inc
3. General Mills Inc.
4. The Kraft Heinz Company
5. Baxters Food Group
6. Unilever
7. Struik Foods Europe NV
8. Vanee Foods Company
9. BCI Foods Inc.
10. Hain Celestial

In this report, the market has been segmented on the basis of:

Type (Condensed and Ready-to-Eat)
Category (Vegetarian and Non-Vegetarian)
Processing (Regular Soup and Organic Soup)
Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online, and Others)

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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.

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