Increasing working population and competitive prices are increasing the popularity of supermarkets/hypermarkets in both developed and developing regions.
POTLAND, USA, October 31, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled “Packaged Soup Market By Product Type, End User, Packaging and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021-2027”, the global packaged soups market size was valued at $11,758.9 million in 2019 and is expected to reach $18,317.3 million by 2027, registering a CAGR of 6.3% from 2021 to 2027.
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Packaged soups are ready meals that can be eaten straight away or prepared in a very short time. There are different types of packaged soups available in the market including creamy soup, vegan soup, organic soup, regular soup, etc. These soups come in different flavors such as tomato flavor, smoked corn flavor, mixed vegetable flavors and others. Further, the expansion of distribution channels such as online stores, supermarkets, hypermarkets, and foodservices has made these packaged soups easily accessible to customers, which, in turn, is contributing to the growth of the market.
The global packaged soups market is segmented into product type, end user, packaging, distribution channel, and region. By product type, the market is categorized into dry and wet. By end user, it is divided into domestic sector and commercial sector. By packaging, it is segmented into bottled, canned and packaged. Based on the distribution channel, it is separated into convenience stores, online store, supermarket/hypermarket, food service and others. Regionally, the market is analyzed in North America (United States, Canada, and Mexico), Europe (Germany, France, United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (China , India, Japan, Australia, Indonesia and Rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa).
Additionally, vegan packaged soup is expected to be the extremely popular new trend in the packaged soup market over the forecast period. Indeed, many consumers follow an entirely plant-based diet because of their awareness of the health consequences linked to the consumption of animal products, but also because of the ethical and environmental impact of livestock farming.
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Further, by sales channel, the online stores segment is expected to be the fastest growing segment, in terms of sales value, during the forecast period of the packaged soups market, owing to the increased use of online platforms or e-commerce for the purchase of packaged goods. soup among the customers. This is attributed to the easy availability of different brands, flavors and types of packaged soups available through these online platforms. Moreover, the online store has time-saving features and the possibility of home delivery, which has increased the inclination of consumers towards online stores. Additionally, due to the COVID -19 pandemic, consumers are restricted to going out of their homes and into crowded places such as supermarkets and hypermarkets, which, in turn, has increased the distribution of packaged soups in online stores.
Main results of the study
By product type, the dried segment accounted for the highest packaged soup market share in 2019, growing at a CAGR of 5.80% from 2021 to 2027.
By end-user, the household sector segment accounted for the highest market share in 2019, growing at a CAGR of 5.80% from 2021 to 2027.
By packaging, the packet segment accounted for the highest market share in 2019, growing at a CAGR of 5.40% from 2021 to 2027.
By distribution channel, the supermarket/hypermarket segment accounted for the highest market share in 2019, growing at a CAGR of 5.20% from 2021 to 2027.
By region, North America occupied maximum packaged soups market share in 2019 and is expected to dominate the market during the forecast period.
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Major players operating in the global packaged soups industry include The Hain Celestial Group, ConAgra Inc., KETTLE CUISINE, LLC, General Mills. B&G Foods, Inc., Campbell Soup Company, Ajinomoto Co., Inc., Unilever., Nestlé and The Kraft Heinz Company.
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