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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
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North America Soup Market - Growth, Trends, and Forecasts (2019 - 2024)
Published: March 1, 2019 Content info: 90 Pages
Description

Market Overview

North American Soup market is expected to grow at a CAGR of 3.1% during the forecast period, 2019 - 2024.

  • Refrigerated and fresh soups are gaining popularity in the North America market. This can be attributed to the increase in consumer awareness regarding healthy food ingredients, changing food habits of the consumers, and rise in disposable income that further leads to the high purchasing power of the consumers. Refrigerated soups mostly have restricted shelf life and a higher price point.
  • Innovation in the soup products drives the sales in convenience stores and retailers make the most of them, by understanding the current snacking trends and stocking the right soup variety for their customers.

Scope of the Report

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.

Key Market Trends

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.

Competitive Landscape

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.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client's requirements
  • 3 months of analyst support
Table of Contents
Product Code: 52982

Table of Contents

1 INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

  • 3.1 Market Overview

4 MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Porter's Five Force Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Canned/Preserved Soup
    • 5.1.2 Dehydrated Soups
    • 5.1.3 Instant Soups
    • 5.1.4 Chilled Soups
    • 5.1.5 Frozen Soups
    • 5.1.6 UHT Soups
  • 5.2 By Distribution Channel
    • 5.2.1 Supermarkets/ Hypermarkets
    • 5.2.2 Convenience Stores
    • 5.2.3 Grocery Stores
    • 5.2.4 Online Retailers
    • 5.2.5 Others
  • 5.3 Geography
    • 5.3.1 North America
      • 5.3.1.1 United States
      • 5.3.1.2 Canada
      • 5.3.1.3 Mexico
      • 5.3.1.4 Rest of North America

6 COMPETITIVE LANDSCAPE

  • 6.1 Most Active Companies
  • 6.2 Most Adopted Strategies
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles
    • 6.4.1 B&G Foods
    • 6.4.2 Baxters Food Group
    • 6.4.3 Campbell Soup
    • 6.4.4 ConAgra Foods
    • 6.4.5 Frontier Soups
    • 6.4.6 General Mills
    • 6.4.7 Hain Celestial
    • 6.4.8 Kraft Heinz
    • 6.4.9 Kroger
    • 6.4.10 Premier Foods

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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