Frozen Soup Market: Vegetarian Soup Remains the Largest Selling Product Globally
Posted by Arslan on February 6th, 2019
Growing demand for convenient and quick preparation of food products will continue to impact growth of the global market significantly. In addition, surge in consumption of on-the-go products is further projected to rev up demand for frozen soup globally. A recently compiled report by Fact.MR, the global frozen soup market is projected to reflect a CAGR of 5.8% over the forecast period.
Growth of the global market of frozen soup market is likely to be bound by several macro-economic, and micro-economic factors. Consumption of the frozen soup products is likely to remain concentrated in the food and beverages industry. With increasing time crunch, consumers prefer frozen soup products that can be prepared in short time.
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As the frozen soup products are considered healthy, demand for the frozen soup in parallel to frozen food is projected to increase. Offering frozen soup continues to remain a cost-effective deal for manufacturers as production of frozen soup results in reduced wastage of ingredients. Moreover, surge in demand for on-the-go food products is likely to impact growth of the global market during the forecast period.
Significant Demand in Food and Beverage Industry
Frozen food will continue to witness surge in demand in the food and beverages industry as the vegetables used for preparing frozen soup are generally picked at the peak of their season. Moreover, the food manufacturers prefer freezing the vegetables in the most natural manner, which is expected to rev up demand for frozen soup. As the waste and spoilage is relatively less, sales of frozen soup will remain concentrated in the food and beverages industry.
Considering the wide scope of the global frozen soup market and to offer in-depth insights, Fact.MR’s report provides segment-wise analysis and forecast. The frozen soup market has been categorized on the basis of product type, sales channel, and region. This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters.
Wholesalers to Remain Dominant Segment
With increasing preference for vegetarian soup products, demand for vegetarian soup continues to rev up demand in the global market. Vegetarian classics as compared to other products is expected to witness the highest revenue growth, recording a value of over US$ 8 Mn by the end of 2022. This segment is also expected to register the highest CAGR in the global market throughout 2022.
Vegetarian Classic to Represent a Major Segment
Increasing preference for vegetarian soup has revved up demand for the vegetarian frozen soup products globally. The vegetarian classic soup is projected to sell more than the other frozen soup products. Currently, the vegetarian classic soup product type is projected to represent more than US$ 8 Mn by 2022-end. In addition to significant revenue growth, the vegetarian classic soup is projected to reflect a relatively high CAGR through 2022.
Major players in the global market of frozen soup are The Kraft Heinz Co., Campbell Soup Co., Tabatchnick Fine Foods, Inc., Kettle Cuisine, LLC, and Conagra Brands, Inc
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Joined: December 18th, 2017
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