Soup Market will exhibit a CAGR of 2.79%and reach USD 21.0 Billion by 2027, and the market value as per 2019 was USD 16.12 Billion.
Fortune Business Insights, publish this information in its latest report, titled “Soup Market Size, Share & Industry Analysis, By Type (Instant, Dehydrated, Canned, Chilled, and Others), Distribution Channel (Hypermarket/ Supermarket, Convenience Store, Online Retail, and Others), and Regional Forecast, 2020 – 2027.”
Soup Market Drivers and Restraint :
Increasing Consumption of Convenience Foods to Aid Growth
Increasing density of population and high disposable income is driving the demand for convenience food products across the globe. The people owing to hectic work life prefer several food products that are ready-to-eat and can be consumed instantly. Additionally, increasing number of women working population is anticipated to bolster the growth of the market in the forthcoming years. Furthermore, the manufacturers are innovating their products to cater to the increasing demand of the consumers. Moreover, growing demand for packaged food products among developed and developing economies will bode well for the growth of the market. For instance, according to the Canada Agri-food report, China registered a total sales value of USD 272, 741 Million in 2019 and is further anticipated to grow at a rate of 7%.
List of Significant Manufacturers Soup Market are:
• The Campbell Soup Company
• Nestlé S.A
• Baxters Food Group Limited
• General Mills, Inc
• Conagra Brands, Inc.
• Premier Foods Group Limited
• The Kraft Heinz Company
• Hindustan Unilever Limited
• Ottogi Co., Ltd
• Associated British Foods plc
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/soup-market-102838
Some of the key industry developments in the Soup Market Include:
• January 2020: Clarity Food Ventures LLC introduced its new range of refrigerated soupy kits, Soup Explorers. According to the company, the food product involves less preparation time and includes several new flavors such as Vietnamese Vegetable Pho, American Chicken Noodle, and Moroccan Chilled Cucumber, among others. The introduction of the product is likely to cement its position in the global marketplace.