As per a new report by Transparency Market Research (TMR), the global market for organic soup is anticipated to observe remarkable growth over the next few years, thanks to the significantly increasing competition between the leading market participants. With the constant entry of new players, the competition within this market is projected to intensify further, creating new opportunities for growth of this market in the years to come. Campbell Soup Co., the Kraft Heinz Co., Wolfgang Puck Worldwide Inc., Unilever Plc, Trader Joe’s Co., Blount Fine Foods, Hain Celestial Group, Amy’s Kitchen Inc., Kettle Cuisine, and General Mills Inc. are some of the key players in this market, reviewed in this research report.
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According to the report by TMR, the market for organic soup in Global offered an opportunity worth in US$1.89 bn in 2017. Expanding at a CAGR of 5.70% between 2017 and 2022, the market is projected to reach US$2.49 bn by the end of the forecast period. Soup pre-mixes, condensed wet soups, and ready to serve wet soups are the main products available in the global market. Among these, the demand for ready to serve wet soup is relatively higher and the trend is likely to remain so over the next few years, states the research report.
North America to Lead Global Organic soup Market
In this research report, the geographical presence of the global organic soup market has also been studied thoroughly. North America, Asia Pacific, Europe, and Rest of the World have been considered as the key geographical segments of the worldwide organic soup market in this study. Among these, North America occupied the leading position in 2017 and is expected to continue on the top over the next few years, thanks to a large number of grocery retailers investing heavily in all natural and non-GMO soups and the local distributors expanding their chains in this region, reports the market study.
Significant Rise in Food Industry to Support Market’s Growth
“The considerable rise in the global food industry is the key factor that has been supporting the growth of the market for organic soup across the world,” states a research analyst at TMR. The increasing interest of consumers towards organic and all natural products is likely to fuel the demand for organic soups in the years to come. However, the high cost of the products may hamper the growth of this market in the near future, notes the research study.
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