Global
Canned Soups Market: Snapshot
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.
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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.
Ready-to-serve
Wet Soup Scores Higher than Other Products in View of Revenue
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.
APEJ
Gathers Substantial Share but Japan and MEA Fall Back in Revenue
Growth
As
per the research of the publication, the international canned
soups market could be classed into Europe, North America,
Asia Pacific except Japan (APEJ), Latin America, the Middle East and
Africa (MEA), and Japan. Readers are informed that APEJ is expected
to be one of the most lucrative regions with a higher revenue growth
projected to continue to show face in the next few years. By the
concluding forecast year, APEJ could garner a revenue of US$1.9 bn.
North
America could be another opportunity for players to capitalize on in
the coming years. This region is anticipated to collect a handsome
revenue by 2022 at a 6.2% CAGR. Europe could bag a decent revenue
share in 2017 but also lose 117 basis points (BPS) by 2022. Japan and
the MEA, however, are predicted to be on the slower side of growth.
Some
of the crucial players in the worldwide canned soups market could be
Campbell Soup Co., Knorr Foods Co. Ltd., The Kraft Heinz Co., Compass
Group USA, Inc., and Juanitas Foods. More players are comprehensively
studied in the publication while estimating vital statistics such as
company share. Buyers of the publication are expected to receive
complete knowledge about the competition landscape of the market.
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