The Asia-Pacific soup market is expected to record a CAGR of 5.6% over the forecast period. The soup markets in India and China are expected to grow rapidly. The instant soup segment is the fastest growing in India and the dried soup segment dominates the market. A stable growth is expected in developed markets of Australia and Japan.
The rising disposable income coupled with an increase in demand for convenience foods drive the growth of this market. Western influence on countries like India and the increasing awareness of the health benefits of soup in countries like Australia and Japan support the market. Pricing is a crucial factor for the success of the market in developing countries, which is evident as the supply chain management for chilled soups increases their price, thereby decreasing the demand. Health concerns in developed countries also restrain the growth of the market.
The Asia-Pacific soup market has been segmented by form into liquid, dehydrated, instant, chilled, frozen, and UHT. By sales, the market is segmented into canned and dried soup. The demand for dried soup is more than that of canned soup, due to health concerns about consuming canned soup with all the added preservatives.
The Asia-Pacific soup market is also segmented by distribution channel into supermarkets/hypermarkets, convenience stores, online, direct selling and others. Of these, supermarkets/hypermarkets contribute the highest revenue.
China and Japan are the major markets in the Asia-Pacific region. The dried soup segment is the only one to have penetrated the Indian market and is expected to grow rapidly over the forecast period, owing to the increase in urbanization and shift in consumer preferences. A stable market growth is expected in countries like Indonesia, Thailand, and the Philippines.
The market for soups in Asia-Pacific is highly fragmented with a large number of international and regional vendors. The demand for exotic and natural flavours is very high in the Asian countries and manufacturers are introducing new flavors. Also, in countries like India, the major companies are launching promotional campaigns to increase the awareness of the health benefits of soup. Some of the major players in the market include:
- Campbell Soup
- ConAgra Foods
- Kraft Heinz
- Nissin Foods
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- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
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Customization of the Report
- Value chain analysis
- Consumer behavior analysis in country level
- Revenue of global Soup market
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modeling
2.4.4 Expert Validation
3. Key Findings of the Study
4. Market Dynamics
4.1.1 Rise in Disposable Income
4.1.2 Increase in Demand for Convenience Food Products
4.2.1 Health Concerns Affecting Market Growth
4.3.1 New Product Launches
4.3.2 Increasing Demand in China and India
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Form
5.2 By Sales
5.3 By Distribution Channel
5.3.1 Supermarkets/ Hypermarkets
5.3.2 Convenience Stores
5.3.3 Grocery Stores
5.3.4 Direct Selling
5.4 By Geography
6. Competitive Landscape
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles
7.1 Acecook Vietnam
7.2 Bambino Agro Industries Ltd.
7.3 Campbell Soup
7.4 Capital Foods Ltd.
7.5 ConAgra Foods
7.6 General Mills
7.7 Heinz Wattie’s Ltd
7.8 House Foods Group
7.9 Kraft Heinz
7.11 Nissin Foods
7.13 Subo Foods
7.14 Toyo Suisan
7.16 Valcorp Fine Foods Pvt. Ltd.