Albany, NY -- (SBWIRE) -- 09/11/2018 -- The demand for soup is expected to grow in the countries such as Russia and U.K among others due to increasing variety of products and consumer preference for healthy and refreshing food. The Europe soups market is valued at USD 3919.1 million in 2014 and it is projected to reach USD 5008.1 million by 2020. The Europe market is estimated to grow at a CAGR of 4.2 % from 2014 to 2020.

Increasing varieties of products, health and wellness trend and active promotions by soups manufacturers are the drivers contributing to the growth of soups market in Europe. Among different types of soups, the consumption of dried soups is estimated to have the most significant growth over the forecast period, as people are more interested to have quick meals due to their busy life style. However, consumption of canned soups is comparatively low as consumers believe that canned metal format soup contains preservatives, which are harmful to health.

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The demand for canned soup, however, is anticipated to decline across Europe. A lead TMR analyst said in this regard, "A paradigm shift in consumer preference from metal cans and heavy packaging, which add to the carbon footprint and are difficult to open, to soups with biodegradable packaging is responsible for the declining demand for canned soups". Growing health awareness and knowledge about preservatives in canned and frozen soups also adversely impacts their demand.

Increasing demand towards western food and healthier food products are expected to boost the demand for soups market in the major countries of Europe including France, U.K, Russia and Germany among others in the forecast period.

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The market size of soups in Russia and U.K is expected to grow at a higher CAGR compared to other European countries. However, increasing demand for affordable and quality food, changing lifestyles and demographics are the other factors that have contributed to the growth of soups market in Italy in the coming years. Soups in Europe region is mainly distributed through hypermarkets, supermarkets and convenience stores.