Leading stakeholders in the ready-to-eat wet soup market are envisioned to stay on top of food trends by offering exotic, ready- to- eat wet soups from various cuisines of the world. The marker is projected to show a positive growth trend of 5.6% during the forecast period.
Demand upswing can be attributed to expanded flavor varieties and the convenience of comfort food. Manufacturers are further cashing in on the substantial demand through modern trade like supermarkets and hypermarkets. A surge in the number of solo households has led to remarkable changes in food consumption and dietary habits of consumers. This has consequently augmented demand for ready-to-eat wet soups.
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Key Takeaways of Ready-to-Eat Wet Soup Market
Non-vegetarian soup ingredients account for more than three fourth market share and are expected to witness notable growth during period of forecast 2019 – 2029. This can be attributed to the increased meat consumption across the globe.
Conventional ready-to-eat wet soups are a major contributor to global ready-to-eat wet soup market and are projected to grow 1.7X over period of forecast 2019 – 2029, owing to increased production of conventional ready-to-eat wet soups by manufacturers in regions such as North America, Europe etc.
North America and Europe collectively hold one third of the market share. However, Latin America South Asia and East Asia are projected to grow at a higher CAGR than the global average.
East Asia ready-to-eat wet soup market is anticipated to hold more than 10% market share in terms of value and is anticipated to gain 280 BPS over forecast period 2019 – 2029.
Market Leaders Are Focusing on Aisle Marketing to Beat the Competition
Campbell, one of the frontrunners in the ready-to-eat wet soup market is focusing on innovation within the aisles of supermarkets and other retail shops for better product positioning, in keeping with consumer trends. Campbell has recently announced that by strengthening its relationship with retailers, it plans to command a niche for itself in the market through strategic placement of its soup products. This product positioning strategy, they are labelling as the “The Soup Aisle of the Future”. The approach of unique presentations on aisles of supermarkets is attracting customers to purchase specific products. Hence, placement of products which are in trend such as vegan soups or soups with high revenue generating potential like Chicken soup, Tomato soup and Mushroom soup can be used to create widespread interest among customers.
Further, Progresso brand of General Mills, Inc., has effectively used the aisle marketing strategy to grab the attention of consumers through smart packaging and product labels. The company has changed its packaging style in the beginning of 2018 along with smart labelling. The company is trying to garner greater attraction towards its products so as to register significant sales of its products.
Find More Valuable Insights on the Global Ready-to-Eat Wet Soup Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for ready-to-eat wet soup, with historical data on demand (2014-2018) and expected projections for the period (2019-2029). The ready-to-eat wet soup report discloses compelling insights into the demand for ready-to-eat wet soup based on ingredient type i.e. non-vegetarian soup, vegetarian soup, nature (organic and conventional), packaging type (bottles, cans & packets), sales channel (HoReCa, B2C) across 7 key regions and 22 + countries.
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Ready-to-Eat Wet Soup Market: Segmentation
Ingredient Type
Vegetarian Soups Tomato
Mushrooms
Potato
Onion
Broccoli
Corn
Non-vegetarian Soups
Chicken
Beef
Sea Food
Other Ingredients
Nature
Organic
Conventional
Packaging Type
Bottles
Cans
Packets
Sales Channel
Bottles
Cans
Packets
Sales Channel
HoReCa
B2C
Modern Trade
Online Stores
Drug Stores
Departmental Stores
Convenience Stores
Other Sales Channels
Region
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
Essential Takeaways from the Ready to Eat Wet Soup Market Report
Comparison of prominent players operating in the Ready to Eat Wet Soup Market.
Study of the micro and macro-economic growth indicators.
Impact of the various factors on the value chain of the Ready to Eat Wet Soup Market.
Growth opportunities for emerging market players in various regional markets.
Current trends influencing the scenario of the Ready to Eat Wet Soup Market.
Important queries related to the Ready to Eat Wet Soup Market addressed in the report:
Who are the most prominent players in the Ready to Eat Wet Soup Market?
What are the factors that are likely to hinder the growth of the Ready to Eat Wet Soup Market during the forecast period (2021-2031)?
Why is the concentration of tier-1 companies high in specific region?
How are the soaring prices of raw materials impacting the demand for keyword?
Why are market players eyeing opportunities in particular region?
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