Busy Lifestyle has Led to Increased Consumption of Soups in North American Households

According to the research report, the soups market in North America was valued at US$5.4 bn in 2014 and is expected to reach US$5.7 bn by 2020, with a declining CAGR of 0.70% expected from 2014 to 2020. The soups market in North America will grow at a slow pace, as this staple food item will continue to be an integral part of the dietary intake of several Americans in the coming years, ensuring steady demand but not much scope for expansion.

Soups have been a traditional food item in the North America region. The report points out that busy lifestyle has led to increased consumption of soups in North American households. The growing inclination towards healthy and natural-ingredient-based foods has impelled manufacturers to ensure that the newly launched products in soup market carry attributes such as fresh ingredients and minimum preservatives. All these factors will boost the growth of the North America soup market during the forecast horizon. On the basis of product type, the report segments the North America soup market into dried, canned, chilled, UHT, and frozen soups. Dried soups or soup powders are preferred owing to the convenience offered by the packaging of the product. Dried soups are typically available in small sachets, and can be consumed immediately after mixing with water. This makes them easy to carry. As canned soups are perceived as highly processed, the demand for canned soups is gradually decreasing. According to the report, the North America region will exhibit steady demand for chilled soups and dried soups. The demand for chilled soups will be particularly high in Mexico compared to the U.S. and Canada during the forecast period.

The soups market in North America is segmented on the basis of product and geography. The products in the soups market in North America are dried, canned, , chilled, frozen, and UHT. Geographically, this market is divided into Mexico, Canada, and the U.S.The most popular type of soups in the market are dried soups or soup powders, due to the convenience they offer to consumers. These soups are often packaged in small sachets and only require the addition of boiling water prior to consumption. The convenient packaging and minimal preparation time are making dried soups an exceptional hit amongst the North American population. Unfortunately, the high processing procedures involved in canned soups is making this category of soups lose out on its share in the soups market in North America. The research report suggests that the demand for chilled soups and dried soups will continue to grow at a steady pace. All the three regions in this market will show a decent growth rate for the chilled soups segment in the soups market in North America.

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The report analyzes the share of the leading brands in the North America soup market. Campbell Soup Co. is a leading key player in the soup market and manufactures a range of soup products such as chilled, UHT, and condensed. The manufacturer carries out operations through distinct brand names such as Campbell’s Select Harvest, Campbell’s Chunky, Soup at Hand, and Campbell’s Healthy Request. These different brands appeal to different consumer segments. To cater to the changing tastes of consumers, companies are launching new and improved soup varieties with unconventional flavors and ingredients.

The research study has been segmented as below:

North America soups market, by product type

• Canned
• Dried
• Chilled
• UHT
• Frozen

North America soups market, by country

• U.S.
• Canada
• Mexico

Soups Market in North America Driven by Release of New Types of Soups

North America Soups Market: Overview

Of the many types of soups in the market today, consumers are finding a greater appeal in dried and chilled soups. Chilled soups are especially finding favor in hotter regions such as places in Mexico, as well as an overall higher rate of demand for chilled foods in Canada. Meanwhile, the ease of storage and use of dried soups is imparting this market segment a very high rate of growth for the coming years.

The study highlights current market trends and provides forecast from 2014 to 2020. In addition, current and future trends are also covered in this report. This research report on the North America soups market provides a holistic snapshot of the market’s current events and statistics. It then moves into imparting predictive knowledge to its readers regarding the way the North America soups market is likely to shape itself over the coming years. The forecasts provided in the report are generated using tried and tested research methodologies that are aimed at finding out the core details of the North America soups market that all users can benefit from. These include Porter’s Five Forces analysis for market’s drivers, restraints, and threats from new entrants and substitutes. It also includes a SWOT analysis for the market’s competitive landscape.

North America Soups Market: Trends and Opportunities:

One of the key factors promoting the sales of soups in North America today is the release of new types of soups that cater to the current consumer demographics. Most consumers today want foods that are easy and quick to eat and pack a high level of nutrition. The growing awareness of nutritional needs is one of the key factors that will shape the North America soups market over the coming years. While soups do not necessarily fall in the easy to eat categories, like sandwiches, modern packaging methods are allowing manufacturers to improve the ease of consumption of soups, thereby adding to the market’s favor.

On the basis of types, the report divides the North America soups market into frozen, dried, chilled, canned, and UHT. Canned soups have found a high volume of consumers due to their older presence in the market. Consumers are showing a steady increase in the consumption of other soup types, such as UHT soups, due to various factors such as improved shelf life and advanced storage methods. The North America soups market can also be segmented on the basis of the distribution channels, into food and drinks specialists, convenience stores, supermarkets, hypermarkets, and ecommerce portals. Ecommerce is swiftly becoming a favored consumer channel due to its ease of use and the improving shelf life of packaged soups. Meanwhile, hypermarkets and supermarkets have been the leading segments in terms of demand volume, and are likely to continue leading the North America soups market till 2020.

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North America Soups Market: Region-wise Outlook:

The North America soups market is segmented into the three countries of the U.S., Canada, and Mexico. The U.S. has consistently held the leading share in the North America soups market in terms of overall value. This factor is primarily attributed to the nation’s early acceptance of canned and packaged foods and beverages, allowing a large number of national and local soup makers to penetrate the market. Players such as Campbell’s have also had a massive role to play in the North America soups market, through high level marketing and gaining a consistent number of consumers over the years. In general, packaged soups or any type of soups are finding a greater preference in North America, thanks to an increasingly hectic urban lifestyle that promotes faster consumption of foods, making consumers seek more nutritive quality in smaller and simpler food preparations, and especially in packaged foods and beverages. Canada and Mexico are also showing a steady rate of increase in the demand for canned soups due to similar reasons.

The report covers a country specific preference for different brands and types of soups, extrapolating the demand volumes and profit ratings for each region. While soups have been a traditionally winter food type, manufacturers of packaged soups have invested heavily in the promotion of soups for all weathers, multiple preferences, and with as much nutritive quality as possible.

Companies Mentioned in the Research Report:

Some of the leading players in the North America soups market at the moment, are Unilever, Nissin Foods, Kraft Heinz, ConAgra Foods, and Campbell Soups. Campbell soups has been a strong contender in the North America soups market for a long time and is likely to continue being at the forefront of the market in terms of demand volume and profits. The manufacturer maintains its lead through a high trust value thanks to a very early incorporation into the mainstream market and a consistent line of new products under different brand categories, such as Campbell’s Healthy Request, Soup at Hand, Campbell’s Chunky, and Campbell’s Select Harvest.

Development of Soups High in Nutritional Value to Appeal Health Conscious Population in North America, says TMR

The customer base of the North America soups market mainly comprises people aged sixty and above and one-person households, Transparency Market Research (TMR) finds in a new study. Leading soup companies are introducing new and premium flavors of soups to attract consumer attention.

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Companies are mainly targeting the younger generation when introducing new flavors owing to the lesser popularity of soups among this consumer base. The growing appeal for healthy and natural-ingredient-based foods in North America is forcing manufacturers in the soup market to ensure that the newly launched products are made using fresh ingredients, with minimum use of preservatives. Campbell Soup Company is one of the key players operating in the North America soups market.

The North America soups market is expected to be worth US$5.7 bn by 2020. The market was valued at US$5.5 bn in 2015. The U.S., followed by Mexico is expected to lead in the soups market. The U.S. soups market is expected to be worth US$4.6 bn by 2020. The soups market in the U.S. is expected to grow in the coming years owing to a rise in the demand for healthy and ready-to-eat food products. The introduction of new flavors to attract the younger consumers will also contribute to the growth of the market. On the basis of type, the dried soups segment is expected to witness a significant growth owing to the convenience offered by the packaging of the product.

Increasing Preference for Convenience Foods Driving North America Soups Market

The North America soups market is driven by an increased demand for convenience food products that help save time and effort of consumers. The demand for packaged soups has increased due to the minimal time required for preparation and the wide variety available. Vegetable, chicken, fish, tomato, clear soup, and mushroom are the different types of soups available, which are attracting consumers and driving the market.

The increasing busy lifestyles of people and also a rise in the number of working women are driving the North America soups market. The increasing preference for quick meals and the easy availability of soups are helping the market to grow. The introduction of newer flavors in soups such as masala curry and red pepper are expected to attract more consumers, driving their demand.

Negative Perception Regarding Packaged and Canned Soups being Less Healthy behind Declining Demand

“Negative perception among consumers regarding packaged soups being relatively-less healthy food products or about canned soups not being fresh and inferior in terms of quality acts as barriers for the market,” said a lead TMR analyst. The demand for chilled soups and frozen soups is high during summer and declines as the temperature drops. Additionally, chilled soups require highly efficient cold chain management, including technology and timely delivery, to eliminate the risk of spoilage and foodborne illnesses. In Mexico, the preference for frozen soups is particularly low, as they needs to be refrigerated and stored. Moreover, frozen soups are perishable, thus impeding their demand.

The less popularity of soups among the younger generation is one of the restraints affecting the market in North America. The monotonous taste of soups is one of the reasons behind the declining consumption among the younger consumer base.

Frequent New Product Launches to Ensure Continued Interest in Soups

The soups market in North America is highly competitive. Thus, manufacturers operating in the soups market strive to gain competitive edge by means of frequent innovation in soup ingredients and by introducing new variants of soups. One of the key trends emerging in the soups market is the development of soups that have high quality ingredients and also high in terms of nutritional value. These nutritional soups have high appeal among an expanding segment of the society who are health conscious.

This information is based on the findings of a report published by Transparency Market Research titled “Soups Market - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020.”

The soups market in North America segmented as follows:

Product type

• Canned
• Dried
• Chilled
• UHT
• Frozen

Country

• U.S.
• Canada
• Mexico

North America Soup Market - Forecast (2014 – 2020) : Research and Markets

Transparency Market Research recently published a market research report that offers an insightful take on the North America soups market . The research report, titled “Soups Market - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020”, highlights the several factors impacting the market. With the help of SWOT analysis, the research report sheds light on the strengths, weaknesses, opportunities, and threats in the soups market in North America. Furthermore, it also examines the threat of new entrants, the threat of substitute products or services, the bargaining power of customers (buyers), the bargaining power of suppliers, and the intensity of competitive rivalry.

According to the research report, the soups market in North America was valued at US$5.4 bn in 2014 and is expected to reach US$5.7 bn by 2020, with a declining CAGR of 0.70% expected from 2014 to 2020. The soups market in North America will grow at a slow pace, as this staple food item will continue to be an integral part of the dietary intake of several Americans in the coming years, ensuring steady demand but not much scope for expansion.

The busy lifestyles of consumers in North America are the prime growth driver for the steady consumption of soups in North America. Furthermore, the increasing awareness about eating minimally processed food items and living healthy has prompted several soup manufacturers in North America to introduce a wide range of products that cater to these needs.

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The soups market in North America is segmented on the basis of product and geography. The products in the soups market in North America are dried, canned, , chilled, frozen, and UHT. Geographically, this market is divided into Mexico, Canada, and the U.S.The most popular type of soups in the market are dried soups or soup powders, due to the convenience they offer to consumers. These soups are often packaged in small sachets and only require the addition of boiling water prior to consumption. The convenient packaging and minimal preparation time are making dried soups an exceptional hit amongst the North American population. Unfortunately, the high processing procedures involved in canned soups is making this category of soups lose out on its share in the soups market in North America. The research report suggests that the demand for chilled soups and dried soups will continue to grow at a steady pace. All the three regions in this market will show a decent growth rate for the chilled soups segment in the soups market in North America.

The research report analyzes the competitive landscape of the soups market in North America by profiling some of the top players. It also offers a study of their financial overview, research and development activities, investment outlook, strategic mergers and acquisitions, and business and marketing strategies. The research report offers a holistic view of the soups market in North America by scrutinizing its macro and micro functionalities.

The soups market in North America is segmented as below:

North America soups market, by product type

• Canned
• Dried
• Chilled
• UHT
• Frozen

North America soups market, by country

• U.S.
• Canada
• Mexico