Canned Soup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Canned Soup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Canned Soup Market is projected to grow at a CAGR of 4.8% during the forecast period of (2020-2025)

Key Highlights

• The consumer's paradigm shift from homemade traditional soups to ready to eat canned soups is one of the major factor driving the canned soup market across various demographics. The canned soups manufacturers are actively launching new products in the market to cater to both nutritional needs as well as diversified taste preferences
• With the growth of advancements in food and packaging technologies to improve shelf-life, combined with the innovation and introduction of new regional flavored organic canned soups, is expected to boost the sales of canned soups market.

Key Market TrendsRise In Spending On Convenience Products

The convenience food products market is growing at a faster pace across the globe with an increasing number of consumers primarily Millenials investing 30% of their monthly expenditure on ready to eat or on-to-go snack products. Furthermore, the sales through a robust distribution channel have strongly augmented the convenience food market including canned soups and are expected to continue to gain momentum during the forecast. As Soups are a part of several cuisines across the globe, the canned ready to serve soups with various health claims such as organic, less sodium and others have gained strong consumer attention among the growing the time constraint consumers who are seeking convenience yet healthy food products.

North America Emerges As The Largest Market

The increasing instances of obesity and health awareness campaigns in North America have resulted in the demand for packaged soups, which contain natural and fresh ingredients with minimum preservative content. Owing to increasing consumption of packaged soups, the canned soup market has paved the way for the manufacturers to expand their product range with more variants in flavors and taste as well as health claims. As the North American soup market is well established; the region’s self-sufficient production capabilities have made it a potential market for the foreign soup manufacturers to expand their business under different packaging techniques including canned. Increasing product varieties, increasing consumption of health and wellness products, and active promotions by the players in the market are contributing to the growth of the soup market in North America during the forecast period.

Competitive Landscape

The global canned soup market is consolidated, particularly with the increase in the number of global and regional players who account for major share of the global market. Owing to its diversified product portfolio that includes condensed soups, microwavable soups, ready-to-eat soups, organic soups, and others, Campbell soup Company accounted for the largest share of the global canned soup market. Over the last few years, the expansion in the emerging economies has been a key strategy responsible for the company’s growtth. Other players in the market include - ConAgra Foods, General Mills, Subo Foods, The Kraft Heinz Company, General Mills, Unilever, Amy's Kitchen, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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