Growing demand for convenient and quick preparation of food products will continue to impact the growth of the global market significantly. In addition, the surge in consumption of on-the-go products is further projected to rev up demand for frozen soup globally. A recently compiled report by Fact.MR, the global frozen soup market is projected to reflect a CAGR of 5.8% over the forecast period.
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Factors Fuelling Growth of the Global Market
The growth of the global market of frozen soup market is likely to be bound by several macro-economic, and micro-economic factors. Consumption of frozen soup products is likely to remain concentrated in the food and beverages industry. With increasing time crunch, consumers prefer frozen soup products that can be prepared in a short time.
As frozen soup products are considered healthy, demand for frozen soup in parallel to frozen food is projected to increase. Offering frozen soup continues to remain a cost-effective deal for manufacturers as the production of frozen soup results in reduced wastage of ingredients. Moreover, the surge in demand for on-the-go food products is likely to impact the growth of the global market during the forecast period.
Demand for frozen soup will also continue to increase in the food and beverage industry attributed to the healthy ingredients blended in the products. Manufacturers mainly pick up vegetables that are at the peak of the season for producing frozen soup and prefer freezing the ingredients in their natural form.
Further, manufacturers also include several out-of-season food ingredients during the production of the frozen soup. Bound to these factors, demand for frozen food will continue to increase in the food and beverages industry.
In an attempt to attract customers, and expand their brand name, the market players are mainly focusing on launching new products, and add to their product line. Major players in the global market are also concentrating on investments for product innovation, and research and development. These factors are further projected to contribute to the growth of the global market of frozen soup market.
Although the overall outlook on the growth of the global market looks positive, several factors are likely to dip demand for frozen soup products. The increasing availability of alternative products such as canned soup is projected to inhibit the growth of the global market of frozen soup market during the forecast period.
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Vegetarian Classic to Represent a Major Segment
Increasing preference for vegetarian soup has revved up demand for vegetarian frozen soup products globally. The vegetarian classic soup is projected to sell more than the other frozen soup products. Currently, the vegetarian classic soup product type is projected to represent more than US$ 8 Mn by 2022-end. In addition to significant revenue growth, the vegetarian classic soup is projected to reflect a relatively high CAGR through 2022.
By sales channel, the wholesale/distributor/direct segment is projected to represent the highest growth in terms of revenue, recording more than US$ 8 Mn by 2017-end. Sales of frozen soup are projected to witness a relatively fast growth through online stores in the global market through 2022.
|Region||North AmericaLatin AmericaEuropeJapanAPEJMEA|
|Product Type||TraditionalLightVegetarian ClassicsNon VegetarianOrganicNoodleOther Product Types|
|Sales Channel||Wholesales/ Distributor/ DirectSupermarket/HypermarketConvenience StoreOnline RetailersOther Retail Format|
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Major players in the global market of frozen soup are
The Kraft Heinz Co
Campbell Soup Co Tabatchnick Fine Foods Inc
LLC, and Conagra Brands, Inc.
Report Benefits & Key Questions Answered
- Frozen Soup Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Frozen Soup Market Historical volume analysis: The report provides a comparison of Frozen Soup Market historical sales and projected sales performance for 2021-2031.
- Frozen Soup Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Frozen Soup Market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Frozen Soup Market Consumption by demographics: The report investigates consumer behavior affecting Frozen Soup Market demand outlook for the assessment period. Effect of their keenness for digital trends on Frozen Soup Market market is carefully analyzed
- Post COVID consumer spending on Frozen Soup Market: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Frozen Soup Market market growth.
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