Canned Soups Market is expected to reach US$ 6,494.95 Mn by 2027

Published Date: 29 Jan 2021

Report : Canned Soups Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Condensed and Ready-to-Eat), Category (Vegetarian and Non-Vegetarian), Processing (Regular Soup and Organic Soup), and Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online, and Others)

High Shelf Life of Canned Food Products to Escalate Market Growth at 3.8% CAGR during 2020–2027

 

According to our latest market study on “Canned Soups Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Condensed and Ready-to-Eat), Category (Vegetarian and Non-Vegetarian), Processing (Regular Soup and Organic Soup), and Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online, and Others),” the market was valued at US$ 4,889.04 million in 2019 and is projected to reach US$ 6,494.95 million by 2027; it is expected to grow at a CAGR of 3.8% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players, along with their developments, in the market.

 

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.

 

A few well-established players operating in the global canned soups market are 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., and Hain Celestial Companies.

 

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.

 

Global Canned Soups Market — by Region, 2019

Global Canned Soups Market — by Region, 2019

 

The report includes the segmentation of the global canned soups market as follows:

 

By Type

  • Condensed
  • Ready-to-Eat


By Category

  • Vegetarian
  • Non-Vegetarian


By Processing

  • Regular Soup
  • Organic Soup


By Distribution Channel

  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Online
  • Others


By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East and Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

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