North America Soup Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North American Soup market is expected to grow at a CAGR of 3.1% during the forecast period, 2020 - 2025.

• Refrigerated and fresh soups are gaining popularity in the North America market. This can be attributed to the increase in consumer awareness regarding healthy food ingredients, changing food habits of the consumers, and rise in disposable income that further leads to the high purchasing power of the consumers. Refrigerated soups mostly have restricted shelf life and a higher price point.
• Innovation in the soup products drives the sales in convenience stores and retailers make the most of them, by understanding the current snacking trends and stocking the right soup variety for their customers.

With changing life styles, the demand for convenience food is increasing simultaneously across the region. The demand for convenience is growing, particularly among middle-to-higher-income consumers, who are in a position to pay more for added convenience. Soups add this convenience factor with healthier and tasty food alternatives in the lifestyle of the fast-paced consumers. Factors, such as easy availability, convenience to cook, and travel friendly, are added advantages associated with the convenience soups variants. Further, convenience food, such as chilled and frozen soups, are rich in nutrition. The meat and vegetables added in these soups comprise of vast array of essential vitamins and minerals.

The rising demand for convenience, owing to increasing disposable income, rapid urbanization, changing lifestyle of consumers, and changing taste preferences is estimated to drive the North America soups market. The North American soups market has been geographically segmented into the U.S., Canada, Mexico, and others. The United States holds the largest market share followed by Canada. In the developed countries increased health awareness campaigns have resulted in the demand for packaged soup, which contains fresh ingredients and fewer preservatives.

North America soup market is highly fragmented with a large number of international and regional vendors. The vendors compete for innovation, pricing, and distribution. Some of the major players in the market include Campbell Soup, ConAgra Foods, Kraft Heinz, Frontier Soups, and Hain Celestial, among others.

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