The global soup market size is expected to foresee significant growth by exhibiting a CAGR of 2.79% between 2020 and 2027. Fortune Business Insights, publish this information in its latest report, titled “Soup Market Size, Share & COVID-19 Impact Analysis, By Type (Instant, Dehydrated, Canned, Chilled, and Others), Distribution Channel (Hypermarket/Supermarket, Convenience Store, Online Retail, and Others), and Regional Forecast, 2020 – 2027.” The reports further observe that the market was worth USD 16.12 Billion in 2019.
COVID-19 Crisis to Favor Growth
The lockdown enforced by several government agencies has forced the people to remain at home. The demand for instant food products as a snacking option is contributing to the growth of the market.
- The Campbell Soup Company
- Nestlé S.A
- Baxters Food Group Limited
- General Mills, Inc
- Conagra Brands, Inc.
- Premier Foods Group Limited
- The Kraft Heinz Company
- Hindustan Unilever Limited
- Ottogi Co., Ltd
- Associated British Foods plc
A warm vegetable broth brings in refreshing experience at any given time of the day.
What does the Report Include?
Drivers and Restraints:
Increasing Consumption of Convenience Foods to Aid Growth
The increasing density of population and high disposable income is driving the demand for convenience food products across the globe.
Segmentation:
Instant Soup that Held 36.78% Market Share to Exhibit Exponential Growth
The segment Instant Soup (By Type) is likely to witness massive market in the forthcoming years.
Regional Analysis:
Large Consumer Base in Europe to Promote Growth
Competitive Landscape:
Ritzy West End Introducing a $15 Takeaway Package to Stimulate Growth
Industry Development:
- January 2020: Clarity Food Ventures LLC introduced its new range of refrigerated soupy kits, Soup Explorers. The introduction of the product is likely to cement its position in the global marketplace.