Considering how nutritional food products
cease to lose their demand in the world, manufacturers of food
products are making efforts to offer such products in easy-to-consume
formats. Moreover, consumption of frozen, chilled or refrigerated
food products is gaining traction, particularly in urban settings.
Persistence Market Research’s latest study reveals that factors as
such have played an instrumental role in driving the sales of chilled
soup in several regions. According to the study, the global market
for chilled soup will be valued at nearly US$ 790 Mn in 2017, and
will expand steadily at 6.2% CAGR to reach US$ 1,326.2 Mn by the end
of 2025.
In the report, titled “Chilled Soup
Market: Global Industry Analysis and Forecast, 2017-2025,”
increasing preference on young consumers for succulent breakfast
products is cited as a key trend treading in the global chilled soup
market. Retail chains offering chilled soup at their stores is also
becoming an advantage for key players in the global chilled soup
market. The report has profiled companies such as The Billington
Group, The Hain Daniels Group Limited, Soupologie Limited, Sonoma
Brands, Tio Gazpacho LLC, Campbell Soup Company, Woolworths Limited,
PepsiCo, Inc. as leading participants in the global market for
chilled soup.
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The report also reveals the growth of
global chilled soup market in terms of volume. In 2016, the global
chilled soup consumption stood at sales of 426 Mn units. This figure
is expected to touch 700 Mn units by the end of forecast period,
exhibiting a balanced CAGR of 5.3% in terms of volume. The report
further reveals that manufacturers of chilled soup products are
adopting innovative packaging techniques to attract customers and
enhance their customer base. In 2017, cups/tubs is estimated to
remain a dominant packaging segment in the global chilled soup
market, accounting for global sales of over 240 Mn units. Demand for
PET bottle packaging is also expected to surge in the global chilled
soup market, revenues from which are expected to attain 6.3% CAGR
over the forecast period.
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In many countries such as Japan, China,
and Brazil, the distribution networks for chilled soup products is
observed to be weak. In order to reach out to consumers,
manufacturers are using a selective modes of distribution channel
such as online selling or use of selective retail outlets. The report
cites that supermarkets or hypermarkets will continue to be the
largest distribution channel in the global market for chilled soup
products by account for more than 55% revenue share throughout the
forecast period.
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The market is also expected to be
dominated by North America and Europe as these regions will
collectively account for more than 80% of global chilled soup sales.
Europe’s chilled soup market, in particular, will showcase fastest
value growth by reflecting a 6.8% CAGR between 2017 and 2025.
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