Published Date: 7-Jan-2021
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According to a new report Global Packaged Soup Market, published by KBV research, The Global Packaged Soup Market size is expected to reach $19.1 billion by 2026, rising at a market growth of 10.9% CAGR during the forecast period.
Based on product type, the dried segment held the highest share of the packaged soup market in 2019. This is because dried soup does not require any refrigerator and can easily be prepared in less time. Enzymatic and oxidative spoilage does not occur in the packaged soup. Moreover, packaged soup can retain its flavor stability even at room temperature over a longer period (approximately 6 to 12 months). However, the wet segment is anticipated to observe major development regarding sales during the forecast period.
Based on packaging, the packets segment contributed the highest revenue share in the global packaged soup market. However, the canned segment is anticipated to grow significantly during the forecast period as the can packaging provides an increased shelf-life to soup, reduces the risk of contamination and hence, does not affect its original taste. Moreover, can has a rigid and strong nature which offers superior flexibility and it retains its original shape even at high impact, hence prevent spillover, making transportation easier.
The North America market dominated the Global Packaged Soup Market by Region 2019, growing at a CAGR of 9.5 % during the forecast period. The Europe market is experiencing a CAGR of 10.1% during (2020 - 2026). Additionally, the Asia Pacific market is poised to witness a CAGR of 12.8% during the forecast period.
Structural Insights: https://www.kbvresearch.com/packaged-soup-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of The Hain Celestial Group, Inc., Conagra Brands, Inc., Nestle S.A., General Mills, Inc., Campbell Soup Company, B&G Foods, Inc., Ajinomoto Co., Inc., Unilever PLC, The Kraft Heinz Company and Kettle Cuisine LLC.
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