-- Market Overview:
Soups are ancient culinary dishes prepared by boiling or simmering a variety of foods such as meat, seafood, or vegetables with other ingredients such as spices for flavoring. Organic soup comes are free of preservatives and manufactured in compliance with the standards of organic of farming. The global organic soup market is expected to grow with a CAGR of 10.2 % during the forecast period of 2022.
Growing awareness about health benefits, changing lifestyles, demand for preservative free foods, specialized foods such as vegan, gluten free and others are prime drivers of the market. Product development such as availability in variety of flavors in attractive forms, excellent packaging, development of global supply chains, growing availability of raw materials, development of natural flavors and thickening agents made from wheat, corn, cassava and others have charged the market. Other market drivers are sedentary lifestyles, demand for on-the-go food products and others. The popularity of media especially shows such as Hell’s Kitchen, Chopped and others are commercial drivers of the market.
The Organic Trade Association estimates that the market for organic foods totaled approximately USD 43 billion in sales with an 8.4% growth rate. The slump in general packaged food growth rate has led to foray of giants such as Kellogs, Cambell towards the organic foods segment.
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Industry News:
July, 2017 - Campbell Soup and Pacific Foods agreed on a deal to a sale of the later to the former for USD 700 million in cash.
June, 2017 - Amazon is expected to buy Whole Foods Market in an all-cash transaction valued at approximately $13.5 billion.
Major Key Players Analysis:
The major players profiled in the Organic Soup Market are as Kettle Cuisine (U.S.), Boulder Organic (U.S.), Blount Fine Food (U.S.), Campbell Organic Soup Company (U.S.), Tideford Organic Foods (England), Amy's Kitchen (U.S.), and Pitango (Australia) and others.
Restraints:
Growing stringency of regulations concerning the packaging, and manufacturing, presence of spurious, misbranded, and substandard products have resulted in lack of confidence and concerns over credibility. The situation has been compounded by the development of ecommerce and the self-informed customer.
Segments:
To generate an accurate assessment of the market the organic soup market is segmented by source, packaging, product type, and regions.
Source - vegetable soup, chicken soup, bisque, stew, and others.
Packaging - can, pouch, bowl, tetra pack and others.
Product type - frozen, ready-to-mix, ready-to-drink, and others.
Regions - North America, Europe, Asia Pacific, and rest of the world (ROW)
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Regional Analysis:
North American region possess the major market share led by the U.S. and Canada owing to large packaged foods industry, sedentary lifestyles and large per capita income. North America is followed by Europe led by Germany, France and the U.K. Both these markets have been benefitted by the large megastores chains such as Walmart and others.
Asia-pacific is anticipated be the fastest growing market with a high growth in emerging economies such as China, India, Japan, Australia and others. The presence of large variety of agriculture foods in the tropical regions are driving the consumer demand for variety.
The Middle East and Africa market is skewed in favor of the Gulf economies of Saudi Arabia, UAE and others. The Poor urbanization of Africa is hampering the market.
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