Busy Lifestyle has Led to Increased Consumption of Soups in North American Households

According to the research report, the soups market in North America was valued at US$5.4 bn in 2014 and is expected to reach US$5.7 bn by 2020, with a declining CAGR of 0.70% expected from 2014 to 2020. The soups market in North America will grow at a slow pace, as this staple food item will continue to be an integral part of the dietary intake of several Americans in the coming years, ensuring steady demand but not much scope for expansion.

Soups have been a traditional food item in the North America region. The report points out that busy lifestyle has led to increased consumption of soups in North American households. The growing inclination towards healthy and natural-ingredient-based foods has impelled manufacturers to ensure that the newly launched products in soup market carry attributes such as fresh ingredients and minimum preservatives. All these factors will boost the growth of the North America soup market during the forecast horizon. On the basis of product type, the report segments the North America soup market into dried, canned, chilled, UHT, and frozen soups. Dried soups or soup powders are preferred owing to the convenience offered by the packaging of the product. Dried soups are typically available in small sachets, and can be consumed immediately after mixing with water. This makes them easy to carry. As canned soups are perceived as highly processed, the demand for canned soups is gradually decreasing. According to the report, the North America region will exhibit steady demand for chilled soups and dried soups. The demand for chilled soups will be particularly high in Mexico compared to the U.S. and Canada during the forecast period.

The soups market in North America is segmented on the basis of product and geography. The products in the soups market in North America are dried, canned, , chilled, frozen, and UHT. Geographically, this market is divided into Mexico, Canada, and the U.S.The most popular type of soups in the market are dried soups or soup powders, due to the convenience they offer to consumers. These soups are often packaged in small sachets and only require the addition of boiling water prior to consumption. The convenient packaging and minimal preparation time are making dried soups an exceptional hit amongst the North American population. Unfortunately, the high processing procedures involved in canned soups is making this category of soups lose out on its share in the soups market in North America. The research report suggests that the demand for chilled soups and dried soups will continue to grow at a steady pace. All the three regions in this market will show a decent growth rate for the chilled soups segment in the soups market in North America.

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The report analyzes the share of the leading brands in the North America soup market. Campbell Soup Co. is a leading key player in the soup market and manufactures a range of soup products such as chilled, UHT, and condensed. The manufacturer carries out operations through distinct brand names such as Campbell’s Select Harvest, Campbell’s Chunky, Soup at Hand, and Campbell’s Healthy Request. These different brands appeal to different consumer segments. To cater to the changing tastes of consumers, companies are launching new and improved soup varieties with unconventional flavors and ingredients.

The research study has been segmented as below:

North America soups market, by product type

• Canned
• Dried
• Chilled
• UHT
• Frozen

North America soups market, by country

• U.S.
• Canada
• Mexico