The Ready to Eat Soup Market refers to the industry involved in the production, distribution, and sale of pre-packaged soups that are ready to consume without any additional cooking or preparation. Ready-to-eat soups offer convenience to consumers as they provide a quick and hassle-free option for a meal or snack.
The market for ready-to-eat soup has experienced significant growth in recent years, driven by several factors. One of the key drivers is the increasing demand for convenient food options in today’s fast-paced lifestyles. Ready-to-eat soups are popular among busy individuals who seek a convenient and time-saving meal solution without compromising on taste or nutrition.
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Additionally, the growing interest in healthy eating and wellness has contributed to the rise in demand for ready-to-eat soups. Consumers are increasingly looking for nutritious and balanced meal options that are convenient to incorporate into their daily routines. Ready-to-eat soups often feature a variety of vegetables, lean proteins, and whole grains, providing a convenient way to consume a wholesome and satisfying meal.
Ready-to-Eat Wet Soup Market – Key Takeaways
- Non-vegetarian based ready-to-eat wet soups capture over three fourths of overall market share, owing to rising global meat consumption.
- Driven by increased production in Europe and North America, conventional ready-to-eat wet soups are likely to grow 1.7x.
- North America and Europe are leading the global ready-to-eat wet soups market; East Asia and South Asia & Latin America will generate major growth avenues.
- East Asia will account for more than 10% of the global market, and display substantial growth over the forecast period.
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.
By Product Type :
- Wet Soup
- Dry Soup
By Ingredient :
- Vegetarian soup
- Other ingredient
- Non-vegetarian soup
- Sea food
- Other ingredients
- Vegetarian soup
By Nature :
By Packaging Type :
By Sales Channel :
- Modern Trade
- Online Stores
- Drug Stores
- Departmental Stores
- Conventional Stores
- Departmental Stores
- Convenience Stores
- Other Sales Channels
By Region :
- North America
- Latin America
- W. Europe
- E. Europe
Ready-to-eat wet soup manufacturers are investing in strategic product positioning in retail channels to keep up with prevalent consumer trends. Manufacturers are also investing in changes to packaging formats and smart labeling trends. Key players in the ready-to-eat wet soups market include Conagra Brands Inc., Campbell Soup Company, Princes Limited, The Kraft Heinz Co., Baxters Food Group Limited, Amy’s Kitchen Inc., General Mills Inc, and Hain Celestial Group Inc., among others.
Ready-to-Eat Wet Soup Market – Key Driving Factors
- The rising trend of ready-to-eat packaged meals, particularly among millennial consumers is a key factor driving the adoption of ready-to-eat wet soups.
- A widespread portfolio of ingredients and flavors in the global ready-to-eat wet soup industry will widen investment opportunities.
- Rising demand for soup through modern trade channels such as supermarkets and hypermarkets will augment demand.
Impact of Covid-19 on ready-to-eat soup market
Ready-to-eat soups are regarded as a healthy and effective remedy for consumers suffering from cough and cold. COVID-19 positive consumers exhibiting similar symptoms are driving up demand for RTE soups, resulting in increased sales of ready-to-eat soups.
In 2020, a moderate demand-supply gap is expected because supply will be limited to fewer manufacturing facilities and will be dependent on a limited operational workforce. Furthermore, due to trade disruption, export to other countries is halted, resulting in a heterogeneous distribution of ready-to-eat soups.
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