Selbyville, Delaware,, Sept. 25, 2023 (GLOBE NEWSWIRE) --
The canned soup market valuation is predicted to reach USD 6.5 billion by 2032, as reported in a research study by Global Market Insights Inc. This is due to the ongoing global urbanization trend that has led to a rise in single-person households and nuclear families.
Health consciousness is another significant driver for industry growth, as consumers continue to seek nutritious options with lower sodium, fewer additives, and more natural ingredients. Manufacturers are thus introducing healthier canned soup variants to cater to this demand. The growing awareness of dietary restrictions and preferences, such as vegetarian, vegan, and gluten-free diets, has also spurred innovation in the canned soup sector, expanding product offerings to cater to a broader customer base.
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Low sodium canned soup market size will register substantial growth during 2023 and 2032, due to growing health consciousness among consumers. High sodium intake has been linked to various health issues, including hypertension and heart disease, prompting individuals to seek healthier dietary choices. In response, food manufacturers are developing low-sodium soup options to cater to this demand. Additionally, government regulations and dietary guidelines advocating for reduced sodium consumption have further incentivized the production and promotion of low-sodium soup products. As consumers become more proactive about their well-being, the shift toward healthier eating habits will contribute to the increasing demand for low-sodium soup.
Canned soup market share from the convenience stores distribution channels will experience a strong boost by 2032, due to evolving consumer preferences and shifting lifestyles. Convenience stores offer a quick and accessible option for on-the-go meals, catering to busy professionals, students, and commuters. With the demand for convenient, ready-to-eat solutions rising, canned soups provide a simple and nourishing choice. Moreover, the COVID-19 pandemic has led to more people working from home, leading to a surge in localized, quick meal purchases, often from convenience stores. The portability and extended shelf life of canned soups make them an attractive option in such scenarios, contributing to the upward trend in sales at these retail outlets.
Europe will account for a sizeable share of the global canned soup market by 2032, given the growing emphasis on sustainability and eco-conscious consumption, encouraging manufacturers to adopt environmentally friendly packaging and sourcing practices. Health and wellness trends are driving demand for lower-sodium, organic, and gluten-free canned soup varieties, reflecting consumers' desire for healthier meal options.
The J.M. Smucker Company, Maruchan, Inc., Bear Creek Country Kitchens, The Kraft Heinz Company, Baxters Food Group Limited, Conagra Brands, Inc., Amy's Kitchen, Inc., Pacific Foods of Oregon, LLC, Dr. McDougall's Right Foods, Inc., Hain Celestial Group, Inc., Nissin Foods Holdings Co., Ltd., Campbell Soup Company, General Mills, Inc., Eden Foods, Inc., and Progresso (a subsidiary of General Mills) are some of the key participants in the canned soup market. These industry leaders are currently prioritizing strategic partnerships, the launch of new products, and the commercialization of their offerings to facilitate market expansion.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Canned soup industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Soup type trends
2.4 Dietary preferences trends
2.5 Distribution channel trends
2.6 Regional trends
Chapter 3 Canned Soup Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By soup type
3.3.2 By dietary preferences
3.3.3 By distribution channel
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.6 Pricing analysis, 2022
3.7 Technology landscape
3.7.1 Future market trends
3.8 Porter's analysis
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
