Published Date : Feb 04, 2016
The Asia Pacific soup market has been developing at a steady pace over the past several years, owing mainly to the fact that soup has been an essential part of the Asian diet. Soups in Asia are traditionally devoid of any dairy products and are made from meat or vegetable broth. The culture has been of making soups in an elaborate process by boiling and simmering the broth for a long time over exposed heat. However, hectic schedules and busy lifestyles have resulted in ready to eat and packaged soups replacing the traditional methods of making soup. The growing convenience of packaged food and the radical changes in dietary patterns and habits have greatly driven the Asia Pacific soup market over the years.
Favorable Economic Trends Fueling Growth
The dynamic and favorable economic trends in countries such as Hong Kong, Australia, Malaysia, Thailand, New Zealand, India, China, Japan, the Philippines, and Singapore are mainly responsible for influencing the soups market in Asia Pacific. These economies have been climbing higher in the global economic hierarchy and as a result, the average disposable income of the citizens has also risen. This surge in spending power has contributed towards the growth of the soups market in Asia Pacific and is likely to continue propelling the market over the coming years.
Demand for Soups Attributed to Fast-paced Lifestyle of Consumers
Frozen soups, dried soups, chilled soups, canned soups, and UHT soups are the main categories of soups available in Asia Pacific based on product type. The soup markets in Japan, New Zealand, Indonesia, India, Hong Kong, and China are anticipated to witness considerable growth in terms of volume as well as value. The fast paced lifestyles of consumers, the rapid urbanization in these countries, and the changing dietary habits of consumers brought on by health reasons are largely responsible for the upward movement in the Asia Pacific soups market.