US Soup Market Report | Industry Insights, Trends, Outlook and Key Players
The U.S. Soup Market size is expected to reach USD
7,697.1 million by 2025, according to a new report by Grand View Research, Inc.
Rising awareness about leading healthy and active lifestyle is expected to
propel demand for the product over the forecast period.
Health
benefits offered through consumption of soup is expected drive the growth of
the industry. High water content in the soup results in the decrease of calorie
intake, which helps the weight reduction. In addition, introduction of
customized products such as low sodium and gluten free soups is also boosting
the growth of the industry.
The
industry exhibits introduction of a number of soups and broths with added
minerals and vegetables in a bid to improve the nutrition of the product. The
products are also being promoted with high advertisement expenditure in a bid
to increase the product sales and revive the dwindling industry growth in the
economy.
The
rise of e-commerce portals results in an ease in the product purchase with
companies offering price discounts to their consumers. In addition, the product
has registered an increase in demand from the on-trade distribution channel
such as restaurants and hospitality chains. Fluctuating cost of raw materials
is anticipated to affect the industry growth.
The
industry exhibits presence of major manufacturers operating their business by
leveraging extensive product portfolio and distribution network. The major
players in the industry are engaged in expanding their business through mergers
and acquisitions. The companies also offer discounts and other offers in order
to attract more consumers.
Further
key findings from the report suggest:
- Frozen/refrigerated soup
is the fastest growing segment and is expected to register high growth at
a CAGR of 7.2% from 2017 to 2025, on account of rising awareness and
inclination towards healthy diets
- The demand for the product
in the U.S. is expected to reach a value of USD 7,697.1 million by 2025 on
account of growing urban population, leading to a high demand for
ready-to-consume and packaged food
- The industry in the U.S.
is anticipated to register a CAGR growth of 1.5% by revenue from 2017 to
2025 owing to the growth in the popularity of the product due to
increasing disposable income and extended shelf-life of the product
- Key players are involved
in the production of different types of product in a bid to drive the
industry growth. In addition, the presence of major manufacturers is
expected to limit the growth opportunities for the emerging players.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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