Canned Soups Market Ready-to-serve Wet Soup Scores Higher than Other Products in View of Revenue 2017 - 2022


As per a recent research report by Transparency Market Research (TMR) states that the global canned soups market is witnessing the trend of launching organic products to appeal to the health conscious consumers. Another trend that is anticipated to take hold over the market is that of manufacturing products which have minimal effect on the environment. The report further states that private brands can threaten the well-established top brands in the coming years. Players are competing with each other on the basis of distribution, innovation, and pricing. Key players in the global canned soups market are: Hain Celestial Group, Inc., Campbell Soup Co., The Kraft Heinz Co., General Mills, Inc., Knorr Foods Co. Ltd., Compass Group USA, Inc., Baxters Food Group Limited Conagra Brands, Inc., Juanitas Foods, Trader Joe's Company, and Amys Kitchen, Inc.
According to Transparency Market Research (TMR) the global canned soups market is expected to rise from US$4.9 bn attained in 2017 to US$6.5 bn by 2022, expanding at a CAGR of 5.8% between 2017 and 2022. On the basis of product, the ready-to-serve wet soup segment is predicted to hold highest shares in the market. By geography, the APEJ market is anticipated to lead and expand at a 7.1% CAGR between 2017 and 2022. The changing preference of consumers is boding well for the growth of the Asia Pacific canned soups market. North America is also anticipated to be a promising regional  market for canned soups.The global canned soups market is prognosticated to create new prospects in the near future as manufacturers hope to better settle themselves even outside of the older consumers group with the help of new innovations. There is already an influx of the development of a greater count of health-conscious soups and more diverse range of flavor offerings. Millennials are studied to get attracted to organic products that feature lower sodium content and no artificial ingredients. One of the leading companies dealing with soups, Campbell offers a broad scope of condensed and ready-to-serve options, which gives a positive picture of the market.
For Report Brochure:
The global canned soups market is envisaged to expand at a CAGR of 5.8% during the forecast period 2017–2022 to achieve a valuation of US$6.5 bn by the final forecast year. In 2017, the market was valued at a US$4.9 bn
The researchers foresee the world canned soups market to be classified according to two categories, i.e. product and ingredient. By product, the market could be segregated into ready-to-serve wet soup, condensed wet soup, and others. Out of these segments, ready-to-serve wet soup is prophesied to secure a larger revenue of US$3.6 bn by 2022 end. It could flaunt an absolute revenue growth of US$0.1 bn annually, which could be greater than other segments in the categorization.
In terms of type of ingredient, the world canned soups market is foretold to see a classification into tomato, beans, chicken, beef, broths, artichokes, mixed vegetables, and other ingredients.
Each of these segments by product and ingredient segmentations are entirely analyzed in the publication, taking into consideration their revenue, market share, and year over year (Y-o-Y) growth comparisons by region.
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