The Europe Packaged Soup Market would witness market growth of 10.1% CAGR during the forecast period (2020-2026). The massive growth of packaged soups is credited to the increase in the use of e-commerce sites or online platforms for purchasing packaged soup among customers. In addition, features of online stores such as time-saving and facility of home delivery have increased consumers’ preferences towards online channels. This offers a massive market opportunity for the leading players working in the packaged soup market. Moreover, the outbreak of COVID-19 brings severe lockdown restrictions, thus discouraging individuals to step outside their homes and in public places such as hypermarkets and supermarkets. Hence, this factor has increased the distribution of packaged soup through online stores.
The market is anticipated to observe new entrants in the upcoming years, thereby making it a competitive market. Developing countries allow the entry of various domestic and regional vendors operating in the market. These vendors intend to target consumers with customized product variations that suit their preferences and tastes. Global brands hold lucrative growth opportunities as increased usage of social media sites & the internet and booming e-commerce sector encourage younger consumers to international brands.
The packaged soup market is anticipated to witness gradual growth in the coming years. Rapid urbanization has been pushing consumers’ inclinations towards convenience foods that require less energy and time for preparation and are healthy. The global players increased their investments in packaged food products, thereby boosting the market growth.
However, the rising awareness with respect to harmful effects of preservatives that are utilized for longer shelf life is discouraging consumers from using packaged soups, thereby restraining the growth of packaged soup market.
Based on Product Type, the market is segmented into Dried and Wet. Based on Distribution Channel, the market is segmented into Supermarket/Hypermarket, Convenience store, Food service, Online store and others. Based on Packaging, the market is segmented into Packets, Canned and Bottles. Based on End User, the market is segmented into Household Sector and Commercial Sector. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Packaged Soup Market in Europe is expected to register a CAGR of 10.1% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Hain Celestial Group, Inc., Conagra Brands, Inc., Nestle S.A., General Mills, Inc., Campbell Soup Company, B&G Foods, Inc., Ajinomoto Co., Inc., Unilever PLC, The Kraft Heinz Company and Kettle Cuisine LLC.
By Product Type
By Distribution Channel
By Packaging
By End User
By Country
Companies Profiled
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