Transparency
Market Research has published a report studying the trends incumbent
in the Europe soup market. The report provides insights into key
growth drivers impelling the market and potential restraints
inhibiting its growth. Based on in-depth findings, analysts have
suggested that the Europe soups market, which stood at US$3.9 bn in
2014, will reach US$5 bn in 2020, rising at a positive 4.20% CAGR.
The report is titled ‘Soups Market - Europe Industry Analysis,
Size, Share, Growth, Trends and Forecast 2014 - 2020’ and is
available on the company website for sale.
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to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3939
For
the purpose of the study, the report segments the Europe soup market
into chilled, UHT, frozen, canned, and dried soup. It investigates
the consumption pattern with regard to different varieties of soup
across the key regional markets within Europe. Exhaustive information
on the growth trends exhibited by the Europe soup market is therefore
compiled in the report. The segment of dried soup is likely to enjoy
substantial growth in the market, with increasing inclination among
Europe’s population towards quick meals that fit their busy
schedule.
The
demand for canned soup, however, is anticipated to decline across
Europe. A lead TMR analyst said in this regard, “A paradigm shift
in consumer preference from metal cans and heavy packaging, which add
to the carbon footprint and are difficult to open, to soups with
biodegradable packaging is responsible for the declining demand for
canned soups”. Growing health awareness and knowledge about
preservatives in canned and frozen soups also adversely impacts their
demand.
Italy,
Germany, Russia, the U.K., France, and Spain constitute the key
national soup markets in Europe. The growing demand for high quality
of meals that can be prepared at short notice has catapulted the soup
industry to the forefront of the European commercial goods landscape.
The report cites Russia as one of the most lucrative soup
markets in Europe, followed by Italy and the U.K.
To
study the prevailing competitive landscape in the Europe soup market,
the report also profiles some of the key players in the market,
including Maggie, Knorr, Liebig, Progresso, and Heinz. Of these,
Maggie dominates the soup market in France. Campbell, on the other
hand, has stopped operating in Russia, after it was unsuccessful in
making significant gains in the national market. The soup market in
Spain also faced much trouble due to the prevalence of unemployment
and economic crisis in the country. Price being a crucial variable
determining the consumption of soup, the demand for soup from Spain
is anticipated to exhibit negligible growth. However, the report
projects that if manufacturers could offer products to consumers in
Europe at low prices, there are still opportunities for the soup
market in the country to exhibit a steady growth pattern.
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