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.
Access Research Report of U.S. Soup
Market@ https://www.grandviewresearch.com/industry-analysis/us-soup-market
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 has segmented the U.S.
soup market on the basis of product, and distribution channel
Product Outlook (Revenue, USD Million;
2014 - 2025)
·
Ready-to-Eat
·
Condensed
·
Dry
·
Frozen/Refrigerated
·
Wet Broths/Stocks
Distribution Outlook (Revenue; USD Million,
2014 - 2025)
·
On-Trade
·
Off-Trade
About
Grand View Research
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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
