Global
Organic Soups Market: Overview
The
demand for fresh, all-natural, and gluten-free foods among consumers
has gained prominence in recent years in various parts of the world.
The rising demand for packaged soups that are sourced using natural
ingredients, have loads of nutrients, and fresh in flavor and taste
is a key factor propelling the demand for organic soups in the food
sector. These soups are packaged so as to facilitate easy storage and
allows convenience in preparation. The advent of organic soups that
compare favorably with home-made soups in terms of nutrients and
freshness is a crucial factor fueling the growth of the market. The
rising interest among consumers in low-sodium soups and their growing
proclivity for all-natural soups also containing a variety of exotic
blends and flavors are key factors expected to catalyze the market
throughout the forecast period.
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The
global organic soups market estimated valuation is US$1,895.5 Mn in
2017 and is anticipated to be worth US$2,497.8 Mn by the end of 2022.
Witnessing profound potential in the food retail sector in various
regions, the market is estimated to expand at a CAGR of 5.7% during
2017–2022.
Extensive
Demand for Instant Ready Soups to Account for Dominance of Ready to
Serve Wet Soups
The
major product types of organic soups are soup pre-mixes, ready to
serve wet soups, and condensed wet soups. Of these, the ready to
serve wet soup segment accounts for the dominant share. The demand
for these types of organic soups is preferred on account of easy
preparation methods. Furthermore, the burgeoning demand for quick
meal among families in various developing regions is a prominent
trend likely to accentuate the demand.
The
estimated share of the segment of serve wet soup is 32.5% in 2017 or
US$ 615.1 Mn of the market. The segment is projected rise at 6.1%
CAGR from 2017 to 2022 and is anticipated to be worth US$ 826.9 Mn by
the end of the forecast period. Expanding at US$ 42.4 Mn
year-over-year over the forecast period, this signifies the leading
absolute growth compared to all other segments.
North
America to be Major Contributor of Revenue throughout Forecast Period
North
America holds the major revenue in 2017 and is projected to do so
throughout the forecast period. The regional market is predicted to
expand at a CAGR of 6% during 2017–2022. Local distributors
expanding their chains and a number of grocery retailers investing in
all natural and non-GMO soups are key developments expected to offer
a robust fillip to the growth of the North America market for organic
soups.
Asia
Pacific except Japan (APEJ) to Gain Share in BPS
The
APEJ organic
soups market is projected to hold a revenue share of 21.5% of
the global market by the end 2017 and is anticipated to gain its
share by 155 BPS during 2017–2022. The Europe market for organic
soups is predicted to rise at an impressive pace in the coming years.
The regional market is anticipated to rise at a CAGR of 4.4% from
2017 to 2022, in terms of revenue and is anticipated to reach
US$669.9 Mn by the end of the forecast period.
Meanwhile
Japan and MEA are also expected to witness moderate demand for
organic soups. The organic soups market for Japan is estimated to
rise at 4.9% during the forecast period and reach US$98.5 Mn by 2022
end. Furthermore, the MEA organic soups market is projected to
register a CAGR of 4.2% during the forecast period and to reach a
valuation US$ 50.7 Mn by the end of the period.
Competitive
Analysis
Prominent
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. Several leading players are boosting their supply chains
and developing sourcing strategies to gain a better foothold in the
market.
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