North America Soup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
North American Soup market is expected to grow at a CAGR of 3.1% during the forecast period, 2020 - 2025.
Key Highlights- Refrigerated and fresh soups are gaining popularity in the North America market. This can be attributed to the increase in consumer awareness regarding healthy food ingredients, changing food habits of the consumers, and rise in disposable income that further leads to the high purchasing power of the consumers. Refrigerated soups mostly have restricted shelf life and a higher price point.
- Innovation in the soup products drives the sales in convenience stores and retailers make the most of them, by understanding the current snacking trends and stocking the right soup variety for their customers.
With changing life styles, the demand for convenience food is increasing simultaneously across the region. The demand for convenience is growing, particularly among middle-to-higher-income consumers, who are in a position to pay more for added convenience. Soups add this convenience factor with healthier and tasty food alternatives in the lifestyle of the fast-paced consumers. Factors, such as easy availability, convenience to cook, and travel friendly, are added advantages associated with the convenience soups variants. Further, convenience food, such as chilled and frozen soups, are rich in nutrition. The meat and vegetables added in these soups comprise of vast array of essential vitamins and minerals.
United States holds the Largest Share in North AmericaThe rising demand for convenience, owing to increasing disposable income, rapid urbanization, changing lifestyle of consumers, and changing taste preferences is estimated to drive the North America soups market. The North American soups market has been geographically segmented into the U.S., Canada, Mexico, and others. The United States holds the largest market share followed by Canada. In the developed countries increased health awareness campaigns have resulted in the demand for packaged soup, which contains fresh ingredients and fewer preservatives.
Competitive LandscapeNorth America soup market is highly fragmented with a large number of international and regional vendors. The vendors compete for innovation, pricing, and distribution. Some of the major players in the market include Campbell Soup, ConAgra Foods, Kraft Heinz, Frontier Soups, and Hain Celestial, among others.
Additional Benefits:- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
B&G Foods
Baxters Food Group
Campbell Soup
ConAgra Foods
Frontier Soups
General Mills
Hain Celestial
Kraft Heinz
Kroger
Premier Foods
1 INTRODUCTION 1.1 Study Deliverables 1.2 Study Assumptions 1.3 Scope of the Study 2 RESEARCH METHODOLOGY 3 EXECUTIVE SUMMARY 3.1 Market Overview 4 MARKET DYNAMICS 4.1 Market Drivers 4.2 Market Restraints 4.3 Porter's Five Force Analysis 4.3.1 Threat of New Entrants 4.3.2 Bargaining Power of Buyers/Consumers 4.3.3 Bargaining Power of Suppliers 4.3.4 Threat of Substitute Products 4.3.5 Intensity of Competitive Rivalry 5 MARKET SEGMENTATION 5.1 By Category 5.1.1 Vegetarian Soup 5.1.2 Non-Vegetarian Soup 5.2 By Type 5.2.1 Canned/Preserved Soup 5.2.2 Dehydrated Soups 5.2.3 Instant Soups 5.2.4 Chilled Soups 5.2.5 Frozen Soups 5.2.6 UHT Soups 5.3 By Packaging 5.3.1 Canned 5.3.2 Pouched 5.3.3 Other Packaging 5.4 By Distribution Channel 5.4.1 Supermarkets/ Hypermarkets 5.4.2 Convenience Stores 5.4.3 Grocery Stores 5.4.4 Online Retailers 5.4.5 Others 5.5 Geography 5.5.1 North America 5.5.1.1 United States 5.5.1.2 Canada 5.5.1.3 Mexico 5.5.1.4 Rest of North America 6 COMPETITIVE LANDSCAPE 6.1 Most Active Companies 6.2 Most Adopted Strategies 6.3 Market Share Analysis 6.4 Company Profiles 6.4.1 B&G Foods 6.4.2 Baxters Food Group 6.4.3 Campbell Soup 6.4.4 ConAgra Foods 6.4.5 Frontier Soups 6.4.6 General Mills 6.4.7 Hain Celestial 6.4.8 Kraft Heinz 6.4.9 Kroger 6.4.10 Premier Foods 7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook