PUBLISHER: SkyQuest | PRODUCT CODE: 1210233
PUBLISHER: SkyQuest | PRODUCT CODE: 1210233
Global Soup Market was valued at USD 10.6 billion in 2021, and it is expected to attain a value of USD 13.37 billion by 2028, at a CAGR of 3.38% over the prediction period (2022-2028)..
The development and use of production methods like vacuum thermal stripping and vacuum absorption process are anticipated to support market expansion. Granules of ammonium sulfate can be produced by the manufacturer using the vacuum thermal stripping procedure. Vacuum thermal stripping with acid absorption is a step in the ammonia recovery process that removes ammonia from digestate that is boiling at a temperature below its boiling point. Additionally, it dissolves in sulfuric acid and crystallizes. Tests have shown that this process can produce crystals of high purity ammonium sulfate. Vacuum stripping's high production efficiency and high output purity are anticipated to accelerate its uptake among manufacturers.
Top-down and bottom-up approaches were used to estimate and validate the size of Global soup Market used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
Global soup market is segmented based on type, distribution channel, and region. Based on type, the market is segmented into instant, canned, dehydrated, Chilled, and others. On the basis of end-user, the market can be bifurcated into hypermarket/supermarket, convenience stores, online retail, and other. The regional insights of the market are into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Driver
The market growth is hampered by the high levels of salt and corn in dried goods, which are thought to be harmful to a person's health because they raise blood pressure and blood sugar levels. A significant market restraint is also anticipated to come from the supply chain for canned foods, as these goods must be delivered and sold promptly to avoid damage or expiration. These elements may reduce the demand for soups in the future on the global market.
Restraint
The high levels of salt and corn in dried goods, which are thought to be unhealthy because they raise blood pressure and blood sugar levels, are impeding market growth. The supply chain for canned foods is also expected to have a significant impact on the market because these products need to be delivered and sold right away to prevent damage or expiration. These factors could eventually lower the demand for soups on the world market.
Market Trends
Convenience food purchases have increased as a result of rising urbanization rates and peoples' busy lifestyles. In the market, there are numerous varieties of convenience foods, including RTE, RTD beverages, packaged snacks, instant food, and others. People consume soups as one of the processed food products. Soups are popular among consumers due to their quick cooking. The macroeconomic factors that support market expansion include rising disposable income and a growing population. Consumption patterns are changing, favoring quick snacks, which benefits the market.