The
growing demand for all-natural, fresh, and nutritious soups among
populations world over is a key factor driving the organic soups
market. The intensifying demand for gluten-free and non-genetically
modified foods among health-conscious consumers is crucial factor
boosting the sale of organic soups in various parts of the world. The
soaring popularity of packaged soups that score high on the troika of
health, flavor, and convenience is a prominent trend stoking the
demand for organic soups in the soup market. Furthermore, the demand
for ready to serve wet soups is gaining traction among consumers in
various regions, thereby catalyzing the growth of the market.
The
global organic
soups market was valued at US$1,895.5 Mn in 2017 and is
projected to reach a valuation of US$2,497.8 Mn by 2022 end.
Witnessing profound potential in the food retail sector in various
regions, the market is estimated to expand at a CAGR of 5.7% during
the forecast period of 2017–2022.
Key
trends and factors driving the evolution of the market are:
With
the growth of the food sector coupled with the constant evolution of
the fresh soup segment, health-conscious world over are demanding
soups that are sourced naturally, are fresh and bereft of gluten, and
offers convenience of consumption. These factors are driving the
evolution of the organic soup market. Not just being eco-friendly, as
the ingredients are sourced naturally, organic soups are gaining
prominence among various populations as they are delicious,
wholesome, and high on nutrients. Coupled with this, the constant
incorporation of exotic flavors and innovative spices blend in
organic soups are key factors immensely contributing to the growth of
the market.
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Several
manufacturers are adding a number of ingredients sourced naturally
and incorporating exotic and savory flavors to organic soups, which
has fortified the demand among discerning consumers in the food
sector. To add to this, recent strides made in the food packaging
sector in various developing and developing regions is a significant
factor expected to open up exciting avenues in the market. A
burgeoning ready-to-eat food segment in several emerging economies in
various parts of the world is a prominent trend accentuating the
organic soups market.
North
America Set to Witness Most Lucrative Avenue in Global Organic Soups
Market
Regionally,
North America is predicted to lead the global market vis-à-vis
revenue in 2017 and expected to maintain its lead throughout the
forecast period. The North America market for organic soups is
projected to rise at a CAGR of 6% from 2017 to 2022. The dominance of
the regional market is primarily attributed to the substantial demand
for gluten-free and natural soups in various countries.
Meanwhile,
Europe and Asia Pacific except Japan are prominent regions are
predicted to rise at an impressive pace over the forecast period. The
Europe organic soups market is forecast to rise at a CAGR of 4.4%
from 2017 to 2022 and reach a valuation US$ 669.9 Mn by the end of
2022.
Ready
to Serve Wet Soup to Witness Substantial Consumption
The
ready to serve wet soup is the dominant segment standing for 32.5% in
2017. Growing at a robust CAGR of 6.1% during 2017–2022, the market
for ready to serve wet soups is projected to reach US$ 826.9 Mn by
the end of 2022.
Competitive
Dynamics
Several
manufacturers are focused on consolidating their supply chains and
keeping themselves aware of the latest food trends, in order to gain
a competitive edge over others. Leading players operating in the
organic soup market include Campbell Soup Company, the Kraft Heinz
Company, Unilever PLC, Wolfgang Puck Worldwide, Inc., Trader Joe's
Company, Blount Fine Foods, Amy's Kitchen Inc., Hain Celestial Group,
Kettle Cuisine, LLC., and General Mills, Inc.
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