(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Ready-to-Eat Soup Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Ready-to-Eat Soup Market products.
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REPORT HIGHLIGHT
The Ready-to-eat Soup Market was valued at USD 2,160 million by 2017, growing with 2.6% CAGR during the forecast period, 2018-2025
Market Dynamics
The Global Ready-to-eat-soup Market is one of the fastest growing sectors in the food and beverages industry across the globe. Soup is often considered as a healthy food item, suitable for consumption through all seasons. The growth of the ready-to-eat soup market is preliminary bound to micro-economic and macro-economic factors. The demand for ready-to-eat-soup is increasing due to the growing prevalence of obesity among the younger population. The key players are coming up with a new flavors, which is expected to drive the growth of the ready-to-eat-soup market in the near future.
The global ready-to-eat-soup market will grow at a significant rate in the near future as busy schedules make consumers shift towards convenient food products. The increasing availability of a large variety of flavors is steadily attracting the young generation, creating a positive impact on the growth of the market.
Technological advancements in packaging coupled with growing distribution channels such as supermarkets and hypermarkets has increased sales for the ready-to-eat soup market. In recent years, the sales of tomato soup have been increased due to its ready-to-eat availability. Introduction of proteins and vegetables in the ready-to-eat soups has lured in diet-conscious consumers, which is expected to stoke market growth.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
However, decreasing popularity of packaged food items due to health concerns pertaining to preservatives is creating a negative impact. Packaged food mainly contains preservatives and additives, which is acting as a major deterrent for the market.
Ingredients Takeaway
In terms of ingredients, the market is divided as Mixed Vegetables, Tomato, Artichokes, Beans, Beef, Chicken, and Others. The tomato segment is anticipated to dominate the global read-to-eat soup market in the forthcoming years.
By Sales Channel
The market is categorized as Convenience Stores, Modern Trade, HORECA, Convenience Stores and others, depending upon sales channels. The HORECA sales channel segment is expected to lead the global market in the coming years, earning the overall market its highest revenue.
Regional Takeaway
North America is expected to dominate the global ready-to-eat soup market due to the growing urban population and increasing consumption of packaged food and beverages among consumers. The demand for soups is relatively higher in countries like the U.S. due to harsh winters and the broad distribution channel networks.
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Key Vendors Takeaway
Some of the top players operating in the global ready-to-eat soup market are Campbell Soup Company, The Kraft Heinz, Yorkshire Provender, New Covent Garden Soup Limited, Amy's Kitchen Inc., Baxter's Food Group Limited, and Premium Foods PLC.
With the growing demand for ready to eat food products, manufacturers are entering into the strategic mergers and acquisitions to launch innovative products. For instance, The Kraft Heinz has invested US$117 mn in 2017 for a new development plant in Brazil. Campbell Soup Co. had completed its acquisitions with Pacific Foods with an aim to bring up its new distribution networks and also enhanced the quality of its customer service.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies and Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY INGREDIENTS
Mixed Vegetables
Tomato
Artichokes
Beans
Beef
Chicken
Others
MARKET, BY SALES CHANNELS
Convenience Stores
Modern Trade
HORECA
Convenience Stores
Others
MARKET, BY REGION
North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America
TABLE OF CONTENT
1. READY-TO-EAT SOUP MARKET OVERVIEW
1.1. Study Scope
1.2. Assumption and Methodology
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Ingredient
2.1.2. Market Snippet by Sales Channel
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. READY-TO-EAT SOUP KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. READY-TO-EAT SOUP INDUSTRY STUDY
4.1. Porter's Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. READY-TO-EAT SOUP MARKET LANDSCAPE
5.1. Market Share Analysis
5.2. Key Innovators
5.3. Breakdown Data, by Key manufacturer
5.3.1. Established Player Analysis
5.3.2. Emerging Player Analysis
6. READY-TO-EAT SOUP MARKET – BY INGREDIENT
6.1. Overview
6.1.1. Segment Share Analysis, By Ingredient, 2017 & 2025 (%)
6.2. Mixed Vegetables
6.2.1. Overview
6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.3. Tomato
6.3.1. Overview
6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.4. Artichokes
6.4.1. Overview
6.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.5. Beans
6.5.1. Overview
6.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.6. Beef
6.6.1. Overview
6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.7. Chicken
6.7.1. Overview
6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
6.8. Others
6.8.1. Overview
6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7. READY-TO-EAT SOUP MARKET – BY SALES CHANNEL
7.1. Overview
7.1.1. Segment Share Analysis, By Sales Channel, 2017 & 2025 (%)
7.2. Convenience Stores
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.3. Modern Trade
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.4. HORECA
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.5. Convenience Stores
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
7.6. Others
7.6.1. Overview
7.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8. READY-TO-EAT SOUP MARKET– BY GEOGRAPHY
8.1. Introduction
8.1.1. Segment Share Analysis, By Region, 2017 & 2025 (%)
8.2. North America
8.2.1. Overview
8.2.2. Key Manufacturers in North America
8.2.3. North America Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.2.4. North America Market Size and Forecast, By Ingredient, 2014 – 2025 (US$ Million)
8.2.5. North America Market Size and Forecast, By Sales Channel, 2014 – 2025 (US$ Million)
8.2.6. U.S.
8.2.6.1. Overview
8.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.2.7. Canada
8.2.7.1. Overview
8.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3. Europe
8.3.1. Overview
8.3.2. Key Manufacturers in Europe
8.3.3. Europe Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.3.4. Europe Market Size and Forecast, By Ingredient, 2014 – 2025 (US$ Million)
8.3.5. Europe Market Size and Forecast, By Sales Channel, 2014 – 2025 (US$ Million)
8.3.6. France
8.3.6.1. Overview
8.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3.7. Germany
8.3.7.1. Overview
8.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.3.8. Rest of Europe
8.3.8.1. Overview
8.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4. Asia Pacific (APAC)
8.4.1. Overview
8.4.2. Key Manufacturers in Asia Pacific
8.4.3. Asia Pacific Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.4.4. Asia Pacific Market Size and Forecast, By Ingredient, 2014 – 2025 (US$ Million)
8.4.5. Asia Pacific Market Size and Forecast, By Sales Channel, 2014 – 2025 (US$ Million)
8.4.6. China
8.4.6.1. Overview
8.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4.7. India
8.4.7.1. Overview
8.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.4.8. Rest of APAC
8.4.8.1. Overview
8.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.5. Rest of the World
8.5.1. Overview
8.5.2. Key Manufacturers in Rest of the World
8.5.3. Rest of the World Market Size and Forecast, By Country, 2014 – 2025 (US$ Million)
8.5.4. Rest of the World Market Size and Forecast, By Ingredient, 2014 – 2025 (US$ Million)
8.5.5. Rest of the World Market Size and Forecast, By Sales Channel, 2014 – 2025 (US$ Million)
8.5.6. Latin America
8.5.6.1. Overview
8.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
8.5.7. Middle East and Africa
8.5.7.1. Overview
8.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Million)
9. KEY VENDOR ANALYSIS
9.1. Campbell Soup Company
9.1.1. Company Snapshot
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. The Kraft Heinz
9.2.1. Company Snapshot
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Yorkshire Provender
9.3.1. Company Snapshot
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. New Covent Garden Soup Limited
9.4.1. Company Snapshot
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. Amy's Kitchen Inc.
9.5.1. Company Snapshot
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. Baxter's Food Group Limited
9.6.1. Company Snapshot
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Premium Foods PLC
9.7.1. Company Snapshot
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
10. 360 DEGREE ANALYSTVIEW
11. APPENDIX
11.1. Research Methodology
11.2. References
11.3. Abbreviations
11.4. Disclaimer
11.5. Contact Us
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