Market Research Report
North America Soup Market - Growth, Trends, and Forecasts (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||389937|
|Published||Content info||90 Pages
Delivery time: 2-3 business days
|North America Soup Market - Growth, Trends, and Forecasts (2019 - 2024)|
|Published: March 1, 2019||Content info: 90 Pages||
North American Soup market is expected to grow at a CAGR of 3.1% during the forecast period, 2019 - 2024.
The North American soup market has been segmented by form into liquid, dehydrated, instant, chilled, frozen, and UHT. On the basis of distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, grocery stores, online retailers, and others. Of these, supermarkets/hypermarkets contribute the highest revenue. Also, the study provides an analysis of the soup market in the emerging and established markets across the region, including United States, Mexico, Canada, and rest of the North America.
Rising Trend of Convenience Foods
With changing lifestyles, the demand for convenience food is increasing simultaneously across the region. The demand for convenience is growing, particularly among middle-to-higher-income consumers, who are in a position to pay more for added convenience. Soups add this convenience factor with healthier and tasty food alternatives in the lifestyle of the fast-paced consumers. Factors, such as easy availability, convenience to cook, and travel-friendly, are added advantages associated with the convenience soups variants. Further, convenience food, such as chilled and frozen soups, are rich in nutrition. The meat and vegetables added in these soups comprise of the vast array of essential vitamins and minerals.
United States holds the Largest Share in North America
The rising demand for convenience, owing to increasing disposable income, rapid urbanization, changing lifestyle of consumers, and changing taste preferences is estimated to drive the North America soups market. The North American soups market has been geographically segmented into the U.S., Canada, Mexico, and others. The United States holds the largest market share followed by Canada. In the developed countries increased health awareness campaigns have resulted in the demand for packaged soup, which contains fresh ingredients and fewer preservatives.
North America soup market is highly fragmented with a large number of international and regional vendors. The vendors compete for innovation, pricing, and distribution. Some of the major players in the market include Campbell Soup, ConAgra Foods, Kraft Heinz, Frontier Soups, and Hain Celestial, among others.