London, 01 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Soup Market 2014-2018, which is expected to grow at a CAGR of 3.55 percent in terms of revenue during 2014-2018.
Because of complex lifestyles and the shortage of time to prepare food, consumers prefer packaged soup, especially instant soups that offer high convenience and require much less preparation time. Factors such as an increase in the working women population and the high demand among kids have resulted in a growth in the demand for soups.
“The rapid growth of the middle-class population and an increase in the purchasing power of consumers in the developing nations has been propelling the growth of the market in recent years,” says Faisal Ghaus, Vice President of TechNavio.
“The increase in new product launches with different flavors and ingredients has also resulted in an increase in the volume sales of soup.”
Key Market Drivers
- Increased Demand for Convenience Food Products
- High Demand from Developing Countries
- Increased Popularity of Soup as a Snack Item
- Increased Number of Marketing Initiatives
- Increase in Working Women Population
- Economic Uncertainties
Key Market Trends
- New Product Launches
- Demand for Natural and Organic Soup
- Increase in Number of Private Labels
- Increase in Demand for Stand-up Pouches
Key Market Vendors
- Campbell Soup Co.
- ConAgra Foods Inc.
- H.J. Heinz Co.
- Nestlé SA
- Unilever Group
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
