Europe Soup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

Europe soup market is forecasted to grow at a CAGR of 3.10% over the forecast period 2020-2025.

• Increasing product varieties, increased demand for wellness products, and active promotions by the market players are some of the key drivers contributing to the growth of the soup market, during the forecast period.
• The high market dominance of the key players is due to their high expenditure on promotional and other marketing activities. Companies also gain a competitive advantage with an increased focus on brand recognition strategies and improving product taste and quality.
• Instant soup is one of the fastest-growing segments of the Europe soup market in the forecasted period, due to busier lifestyles and the ease of preparation that instant soups entail.

Scope of the Report

Europe soup market is segmented by category as vegetarian and non-vegetarian soups, by product type as canned/preserved, chilled, dehydrated, frozen, instant, and UHT. By packaging, the market is segmented into canned, pouched and other packaging. By distribution channel, the market is segmented as supermarkets/hypermarkets, convenience stores, online, and other distribution channels. The other distribution channels segment comprises of grocery stores, independent stores, direct selling, mixed retailers, vending and non-grocery specialists. Also, the study provides an analysis of the soup market in the emerging and established markets across the European countries, including Germany, United Kingdom, France, Spain, Russia, Italy, and Rest-of the European countries.

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Key Market Trends

Instant Soups Hold a Prominent Market Share

The market for instant soup in Europe has great potential to grow, because of an increase in product offerings and the onset of convenient packaging options such as canned soup, natural and tasty soup, quick soup, pouched soup, and others. Moreover, there an increasing consumer preference for instant soup as a snack item has been witnessed in recent years. There is also an increase in consumer preference for instant noodles soup, such as cup noodles soup. Europe is characterized by a high female working population compared to most other regions of the world, owing to which, the demand for convenience foods is increasing. Furthermore, companies offering high nutritious ingredients in soups along with frequent product launches by various companies operating in the segment to increase their product offerings are driving the instant soup segment.

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