Soup is categorized as liquid food manufactured by combining several vegetables or meat products with water or stock. The preparation and consumption of soups have been in practice for long time and were considered similar to stew. The consumption of traditionally prepared soup was prevalent in all parts of the world but as technological advancement took place the soups are commercially manufactured at a large scale in various forms. Soups are generally classified into two categories-clear soups and thick soups. Clear soups are made by vegetables and meat products in a liquid without any addition of spices, thickeners, and flavorings whereas thick soups are prepared by the addition of various thickening agents such as cornstarch, flour, cream, vegetables, and others. The commercially prepared instant soups are available in various forms such as canned soups, dry soups,frozen soups, ultra-high temperature (UHT) soups, and others.
Market scope and structure analysis:
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($US)|
|Segments covered||Type, Product Type, Packaging,Distribution Channel,and Region|
|Regions covered||North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain,and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)|
|Companies covered||Unilever, General Mills Inc., The Kraft Heinz Company, Nestle SA, Campbell Soup Co., Bear Creek Country Kitchen LLC, Associated British Foods PLC, Premier Foods, Baxters Food Group Ltd., Blount Fine Foods, The Schwan Food Company, Kettle Cuisine LLC.|
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COVID-19 Scenario Analysis:
- The COVID-19 pandemic has affected the soups market due to the shutdown of distribution channels such as retail stores and supermarkets due to the lockdown scenario implemented to prevent the mass gathering.
- The initial lockdown stages caused the shutdown of the manufacturing units, which led to decreased production and inability to meet the consumer demand of soups.
- The supply chain was highly disrupted due to the transport restrictions and ban of export and import in several countries.
- The shortage of raw material caused due to the transport restrictions and limited mobility resulted in limited production and unmet demand due to panic buying in the pandemic situation.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Soups are prepared in French cuisine from an era and have wide consumption throughout the world. The various types of soups are prepared and consumed traditionally as well as served on commercial levels by vendors and restaurants. The food industry has undergone several advancements and launched products such as instant soups which are classified as convenience foods. The increasing health awareness, lack of availability of fresh vegetables and fruits, satiety value of soups, variants in soup flavors, advancement in technology and automation, investment in R&D, heath benefits of soups, ready-to-eat (RTE) soups, dry mixes of soup, canned soup, frozen soup, enhanced shelf life of the product, the addition of extra flavorings, enhancement in palatability, nutritional enrichment, increase in obesity due to excessive consumption of solid food thereby leading to fitness concerns, improvised processing techniques, easy availability of the products, e-commerce, easy storage, reduced time for cooking, high disposable income and increasing urbanization are the key drivers which leads growth of global soups market. However, the increased competition, traditional practices, availability of alternative products, loss of essential micro-nutrients while processing, and government regulations hinder the market growth.
The global soups market trends are as follows:
The surge in food processing technology
Soups are considered as essential food product since an era and are highly preferred in the diet of people suffering from several diseases to fulfill the nutritional requirement. Numerous varieties of soups have been listed by different names and are prepared by traditional methods. The commercial production of instant soups in the form of dehydrated powder and frozen soup has increased the shelf life of the soup and made its preparation convenient just by heating. The advanced food processing techniques such as canning, spray drying, ultra-high temperature, and freezing process have created a new pathway for the soup market.
The vegetable and meat products such as broccoli, cabbage, corn, beans, tomato, onion, chicken, beef, and others added to the variety of soups have enhanced the nutritional value of instant soups and presented an alternative for the shortage of natural products. The instant soups are approved safe for consumption by regulatory bodies such as FAO and FSSAI. The key players in the soup market are inclined towards enhancing the shelf life of the product as well as improving the packaging such as pouches and cans along with sustainability, as the package of the product plays an important role in quality and preservation.
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Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global soups industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global soups market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global soups market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed global soups market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Soups Market Research Report:
- What are the leading market players active in the soups market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
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