Published Date : Mar 11, 2016
Soup is a liquid food, mostly served warmed and is prepared using several ingredients such as stock, juice, water, vegetables, and if desired meat as well. Soups are broadly categorized into two types such as thick soups and clear soups. The soup market in North America has been witnessing rapid growth owing to the availability of diverse flavors and the harsh climatic conditions, which encourages the population to enjoy a mug of a hot beverage.
In North America, soup has been a part of the meal for more than millennia. As a result, the demand for soups has been on a rise in this region. Moreover, the availability of ready-to-make and ready-to-eat soups packets have encouraged the consumers, who are leading a hectic work life, resulting in the increased sales of the overall soup market in North America. In addition, the rising awareness regarding a healthy lifestyle and a healthy diet is further driving the soup market in this region.
On the basis of product type, the soup market in North America can be divided into:
Among these types, the dried soup segment dominated the soup market in North America, owing to the convenience of storage and longer shelf life of the product if compared to the other soup types. Moreover, they are in powdered form so it makes it very easy to carry them if required and one needs to add hot water to it and enjoy the soup. On the other hand, the canned soup segment has been witnessing a decrease in its demand in recent years due to the high processing and addition of preservatives to it. The market share of the other soup products is estimated to remain steady in the next few years in North America soup market.
The soup manufacturers across the globe are taking constant efforts to introduce new flavors and make these products available in all the parts of North America. The increasing number of distribution centers such as supermarkets, hypermarkets, retail stores, and online stores are making these products available to the consumers, leading to the rapid growth of soup market. Campbell Soup Co. is one of the dominating player operating in the North America soup market and is expected to remain in the leading position in the new few years.