Valued to be $19.7 Billion by 2026, Soups Slated for Steady Growth Worldwide

SAN FRANCISCO, Sept. 23, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market…

SAN FRANCISCO, Sept. 23, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled «Soups – Global Market Trajectory & Analytics». The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE

Edition: 18; Released: April 2021

Executive Pool: 2743

Companies: 71 – Players covered include Amy’s Kitchen, Inc.; Baxters Food Group; Blount Fine Foods Corp.; Campbell Soup Company; General Mills, Inc.; Kettle Cuisine, Inc.; Mug Shot; New Covent Garden Soup Company Limited; Premier Foods Group Limited (Batchelors); The J.M. Smucker Company – Crosse & Blackwell; The Kraft Heinz Company; Unilever PLC; Weight Watchers International, Inc.; Yorkshire Provender Ltd. and Others.

Coverage: All major geographies and key segments

Segments: Product (Canned/Preserved Soup, Frozen Soup, Instant Soup, Chilled Soup, UHT Soup, and Other Products)

Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Soups Market to Reach $19.7 Billion by 2026

Amid the COVID-19 crisis, the global market for Soups estimated at US$17.4 Billion in the year 2020, is projected to reach a revised size of US$19.7 Billion by 2026, growing at a CAGR of 2% over the analysis period. Canned/Preserved Soup, one of the segments analyzed in the report, is projected to record a 2.4% CAGR and reach US$9.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Frozen Soup segment is readjusted to a revised 2.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $4.8 Billion in 2021, While China is Forecast to Reach $3.8 Billion by 2026T

he Soups market in the U.S. is estimated at US$4.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.8 Billion by the year 2026 trailing a CAGR of 3.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.3% and 1.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 0.8% CAGR.

Instant Soup Segment to Reach US$4.2 Billion by the year 2026

In the global Instant Soup segment, USA, Canada, Japan, China and Europe will drive the 1.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.9 Billion in the year 2020 will reach a projected size of US$3.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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Director, Corporate Communications

Global Industry Analysts, Inc.

Phone: 1-408-528-9966

www.StrategyR.com

Email: ZA@StrategyR.com

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SOURCE Global Industry Analysts, Inc.