Ready To Eat Soup Market To Record Ascending Growth By 2031

A new research report published by Fact.MR predicts that the global ready-to-eat soup market will grow at an estimated CAGR of 5.9% during the period 2017-2022 and exceed a value of US$ 750 Mn by the end of 2019. The study opines that ready-to-eat soups market will be driven by a cohort of factors, including rising demand for convenience foods, increasing number of women in workforce, and consumption of soups for treating common colds and sore throats. According to the study, manufacturers are aware of the evolving consumer preferences, and are diversifying their product portfolio to cater to the tastes of a wide range of consumers.

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North America to Lead the Ready-to-Eat Soup Market with a CAGR of over 6% during 2017-2022

According to the study, North America will continue to be one of the leading markets for ready-to-soup over the forecast period. Sales of ready-to-eat soups are relatively higher in countries with harsh winters, and the US with its established food & beverage industry and expansive distribution channels continues to lead the rally. The study opines that ready-to-eat soups will continue to outsell other variants in North America.

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Increasing Use of Corn Starch to Beset the Growth of the Ready-to-Eat Soup Market

“Rising preference for flavors over ingredients in the ready-to-eat soup market has encouraged manufacturers to diversify their product portfolio with flavor as the front-of-the-mind interest. To meet this demand, corn starch is gaining popularity for enhancing the flavor of soups. Intake of high consumption of corn starch results in high blood sugar level, which can lead to more health impacts than benefits which are gradually being recognized by the diet-conscious consumers. Attributing to the health risks posed by corn starch, the global ready-to-eat soup market is anticipated to witness limited growth opportunities,” finds Fact.MR.

Another challenge for the ready-to-eat soup market is the extensive use of preservative to extend the shelf life of the soups. Rising health consensus among consumers, coupled with the known health impacts of preservatives can create reluctance among consumers. The study finds that constantly fluctuating prices of raw materials continue to pose challenges in terms of supply-demand.

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Ready-to-Eat Soup Market: Segmentation

FactMR’s study has done the segmentation of ready-to-eat soup market on the basis of product type, base ingredient, nature, packaging type, sales channel and region.

Product Type

• Wet Soup
• Dry Soup

Ingredient

• Vegetarian soup
  • Tomato
  • Mushroom
  • Potato
  • Onion
  • Broccoli
  • Other ingredient
• Non-vegetarian soup
  • Chicken
  • Beef
  • Sea food
  • Other ingredients

Nature

• Organic
• Conventional

Packaging Type

• Bottles
• Cans
• Packets

Sales Channel

• HoReCa
• B2C
  • Modern Trade
  • Online Stores
  • Drug Stores
• Departmental Stores
• Conventional Stores
• Departmental Stores
• Convenience Stores
• Other Sales Channels

Region

• North America
• Latin America
• W. Europe
• E. Europe
• Japan
• APEJ
• MEA

Report Benefits & Key Questions Answered

• Ready to Eat Soup Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
• Ready to Eat Soup Market Historical volume analysis: The report provides a comparison of Ready to Eat Soup Market historical sales and projected sales performance for 2021-2031.
• Ready to Eat Soup Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Ready to Eat Soup Market It carefully gauges the impact of changing healthcare needs of key demographics globally
• Ready to Eat Soup Market Consumption by demographics: The report investigates consumer behavior affecting Ready to Eat Soup Market demand outlook for the assessment period. Effect of their keenness for digital trends on Ready to Eat Soup Market is  carefully analyzed
• Post COVID consumer spending on Ready to Eat Soup Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Ready to Eat Soup Market growth.

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