Market Insights
The global canned soup market is expected to register a CAGR of 2.8% during the forecast period (2018-2023). Canned soup constitutes about 35% of the total soup consumed, globally, of which North American consumption accounts to about 80%. The growing demand for convenience food is a major driver of this market, while health concerns restrain the growth. New product launches by vendors is helping in keeping the healthy competition within the segments of canned soup industry. Campbell, Nestle, Kraft Heinz, and Unilever are some of the key players in the global market.
Market Dynamics
The increasing demand for convenience food, coupled with a rise in disposable incomes, drive the canned soup market growth. The long shelf-life of canned soups is another factor driving the market. The popularity of canned soups with the older generation can be attributed to its strong demand as a cupboard staple in the kitchen for use during emergencies. However, the addition of preservatives to increase the shelf-life results in health concerns among the people. Also, cans are not popular with the younger generation as they are difficult to open, heavy, and are also harmful to the environment. New product launches, like the organic canned soup, can be considered as opportunities in the market.
Market Segmentation
The global canned soup market has been segmented by type into condensed and ready-to-eat. The ready-to-eat segment dominates the global market. By content, the market is segmented into vegetarian and non-vegetarian.
Regarding preparation, the market is segmented into regular and organic. The regular canned soup segment dominates the global market. However, the demand for organic canned soups is constantly increasing due to health awareness among consumers. The market is further segmented by the distribution channel, into super markets/hyper markets, convenience stores, specialty food stores, online retailers, and others. Of all these, the supermarkets/hyper markets segment contributes the highest revenue.
Regional Analysis
North America accounted for the largest market share in 2015, followed by Europe and Asia-Pacific. This region accounts for 80% of the total canned soup consumption. However, sales have been on the decline in this region due to the associated health concerns. The U.S is a major market in North America. The growing demand for high-quality meals, which can be prepared at short notice, has helped the growth of canned soup market in Europe. Russia is the most attractive market in Europe, followed by Italy and the UK. China and India are the major markets in the Asia-Pacific region. The rising disposable incomes and shift in the taste of consumers are expected to drive the growth of the market in the region.
Competitive Environment
The market for canned soups has a monopolistic competition; wherein, the producers sell similar products but are slightly different from each other; hence, cannot be considered as perfect substitutes. Such markets are not efficient productively, as the manufacturers produce below their capacity. The vendors compete for innovation, pricing, and distribution. Private brands are gradually increasing their market share and are threatening the position of leading brands.
Some of the major players in the market include -
- Campbell Soup
- Kraft Heinz
- Nestlé
- Nissin Foods
- Unilever
Reasons to Purchase this Report
- 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
- 3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
- Value chain analysis
- Volume of the Global Canned Soup Market
- Consumer behavior analysis in country level
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.1 Introduction
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 Modelling
2.4.4 Expert Validation
3. Key Findings of the Study
4. Market Dynamics
4.1 Drivers
4.1.1 Long Shelf-Life
4.1.2 Rise in Disposable Income
4.1.3 Growing Demand for Convenience Food
4.2 Constraints
4.2.1 Associated Health concerns
4.2.2 Increased Availability of Alternative Variants
4.3 Opportunities
4.3.1 New product launches
4.3.2 Increasing demand in Developing Countries
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
4.5 Consumer Behavior Analysis
4.5.1 Consumer Demand Analysis
4.5.2 Target Market Identification
4.5.2.1 Purchasing Power
4.5.2.2 Demographic Strengths & Weaknesses
4.5.2.3 Spending Patterns
5. Market Segmentation
5.1 By Type
5.1.1 Condensed
5.1.2 Ready-to-eat
5.2 By Content
5.2.1 Vegetarian
5.2.2 Non-Vegetarian
5.3 By preparation
5.3.1 Regular
5.3.2 Organic
5.4 By Distribution Channel
5.4.1 Super Markets/ Hyper Markets
5.4.2 Convenience Stores
5.4.3 Food speciality stores
5.4.4 Online retailers
5.4.5 Others
5.5 By Geography
5.5.1 North America
5.5.1.1 U.S.
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.1.4 Others
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 U.K.
5.5.2.3 France
5.5.2.4 Spain
5.5.2.5 Italy
5.5.2.6 Russia
5.5.2.7 Others
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 Others
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Others
5.5.5 Africa
5.5.5.1 South Africa
5.5.5.2 Others
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 Associated British Foods
7.3 B&G Foods
7.4 Baxters Food Group
7.5 Campbell Soup
7.6 Conad
7.7 Frontier Soups
7.8 General Mills
7.9 Hain Celestial
7.10 House Foods Group
7.11 Kraft Heinz
7.12 Unilever
7.13 Nestlé
7.14 Nissin Foods
7.15 NK Hurst Company
7.16 Premier Foods
