The North America Packaged Soup Market was worth US$ XX million in 2021, and it is estimated to reach a valuation of US$ XX million by the end of 2026, expanding at an annual growth rate of 9.6% between 2021 and 2026.
Packaged soup is the instant soup that is being arranged to be done within 2 to 3 minutes, which is otherwise known for easy preparation. The packaged soup comes under the prepared food category. It is designed in various flavors, types, and styles available in several supermarkets, online stores, and convenience stores. These are manufactured on a large scale by multiple firms in the form of bottles, cans, packets, bags, etc., which are easy to carry by the customers. Compared to other food, packaged soup is one of the easiest recipes that can be done quickly. The different varieties of packaged soup include regular soup, creamy vegan soup, organic soup, chowder, etc. Different flavors include tomato soup, smoked corn flavor, mixed vegetable flavor, and much more available in the market. The packaged soups were made more open to the consumers by expanding supermarkets, online stores, and convenience stores. They can be used for several days by storing them frozen, dried, and dehydrated.
The primary factor driving the North America Packaged Soup Market is the increasing number of distribution channels, including supermarkets, online stores, and convenience stores. In addition, due to lack of time, the customers tend to purchase ready-made packaged soups, which can be made quickly, which drives the international industries to invest more in packaged soup.
Additionally, customers were adopted to the healthier lifestyles, which made most market players adopt the collaborative strategy to design the packaged soup in different styles and flavors since these are being used by most people, which also drives the growth of the North America Packaged Soup Market. About half of the urban population adopted ready-to-eat foods, which drive the packaged soup market in North America in recent years.
The major restraint of the North America Packaged Soup Market is that the packaged soups do not provide the health benefits of natural soups. Also, most importantly, these packaged soups are not accountable to store in the freezer for a long time since the nutrients contained in the soup may be unreachable. Furthermore, increasing awareness of the harmful effects of preservatives is also one of the restraints that hamper the growth of the North America Packaged Soup Market during the forecast period.
Depending on the product type, the North America Packaged Soup Market is segmented into wet and dried. Among these two segments, a dried segment of the North American packaged soup contributes the largest market share since the dry soup was not allowed to freeze and can be done quickly. The wet segment is estimated to grow significantly during the forecast period.
Depending on the end-user, the North America Packaged Soup Market is divided into the commercial and household sectors. Among these segments, in 2019, the household segment holds the highest market share and continues since the customers have changed their lifestyle from traditional handmade soup to the packaged soup. Furthermore, due to a lack of time in their busy schedules, most consumers adopted the packaged soup that made the household segment hold the maximum sales growth.
Depending on packaging, the North America Packaged Soup Market is segmented into canned bottles and packets. The packets segment tends to hold the largest market share in North America, which is cost-efficient, whereas these packaged soups were also stored in bags to retain their shelf life and can be in the original flavor.
The North America Packaged Soup Market is segmented into an online store, supermarket/hypermarket, food service, convenience store, and others depending on the distribution channel. The supermarket/hypermarket segment holds the largest market share among these segments because of its convenient operating timings, a wide range of parking lots, and several consumer goods' availability.
The North America Packaged Soup Market Report includes the segmentation of countries:
In North America, the U.S. holds the most prominent position in terms of market shares among various regions and is yet to continue during the forecast period. Because of the growing population, changing lifestyle of the consumers, and the consumer priority for the packaged soup that drives the market growth in North America. Furthermore, due to the customers' busy schedules, more than half of the North American population adopted ready-to-eat food, making the packaged soup market overgrow in North America. On the other hand, due to the inclination in the working population, Asia Pacific tends to hold significant market growth during the forecast period.
The North America Packaged Soup Market experiences a positive effect due to the corona crises due to the increasing demand for food products among consumers, mainly in the U.S. and Canada. As the corona cases keep increasing, consumers in North America believed that packaged soups are healthy and can be stored, reducing the chances of coming out. In addition, due to the imposition of lockdown in North America, people were confined to their homes, which led to the increasing distribution of packaged soups in online stores.
Key Players in the Market:
Major Key Players in the North America Packaged Soup Market are
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Packaged Soup Market, By Product Type
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Packaged Soup Market, By End-User
6.2.1 Commercial Sector
6.2.2 Household Sector
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Packaged Soup Market, By Packaging
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Packaged Soup Market, By Distribution Channel
6.5 Online Store
6.7 Food Service
6.8 Convenience Store 6.7.1 Market Size Estimations & Forecasts (2021-2026)
6.8.1 Y-o-Y Growth Rate Analysis
6.8.2 Market Attractiveness Index
7. Geographical Landscape
7.1 Regional Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Product Type
7.2.3 By End-User
7.2.4 By Packaging
7.2.5 By Distribution Channel
8. Key Player Analysis
8.1 ConAgra Inc
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.3 The Hain Celestial Group
8.4 General Mills
8.5 Kettle Cuisine, LLC
8.6 Campbell Soup Company
8.7 B&G Foods, Inc
8.9 Ajinomoto Co., Inc
8.10 The Kraft Heinz Company
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures