Global Organic Soups Market: Ready to Serve Wet Soup to be Leading Product Type
Albany, NY -- (SBWIRE) -- 06/06/2018 -- In the recent past, the awareness regarding the harmful effects of fertilizers and other chemicals used for the production and protection of food products has spread furiously as a result of penetration of social media. Around the same time, disposable income has increased among the urban populations and collectively, these two factors have given birth to the market for organic foods that are all-natural, fresh, and significantly more nutritious than the traditional alternatives. Even a recent business and commerce study by Transparency Market Research (TMR) reiterates that, projecting the demand in the global organic soups market will increment at a healthy CAGR of 5.7% during the forecast period of 2017 to 2022. The report has evaluated that the market for organic soups, across the world, had an opportunity worth of US$1,895.5 mn in 2017, which will swell up to US$2,497.8 mn by the end of 2022.
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Which factors are augmenting the demand for organic soups?
In the recent past, the demand for foods that are free from gluten or genetic modifications has escalated among urban consumers who are health-conscious, propelling the sales of organic soups in various parts of the world. The popularity of packaged soups has multiplied too in last five years, as they offer true flavor and are nutritious for health. Furthermore, the demand for ready to serve wet soups is gaining traction among consumers in various regions, thereby catalyzing the growth of the market. The prosperity of the food sector is another prominent driver of this market, as consumers are now living a restless life and frequently opting for packaged soups that are organic in nature. In addition to that, owing to consistent evolution of the fresh soup segment, health-conscious populations are demanding soups that are sourced naturally, are fresh, and bereft of gluten. Moreover, eco-friendliness of organic soups as the ingredients are extracted naturally, the market for the same is expanding. Coupled with this, the constant incorporation of exotic flavors and innovative spices blend in organic soups are key factors immensely contributing to the growth of the market.
Which regions should the market leaders concentrate on?
North America and Europe are by far the two most lucrative regions for the vendors operating in the global organic soups market. In particular, the demand in the North America organic soups market is anticipated to expand at a CAGR of 6.0% during the forecast period of 2017 to 2022, gaining traction from expansion of local distributors and mushrooming grocery retailers who invest on all natural products for their customers. The Europe organic soups market is projected to reach a valuation of US$669.9 mn by 2022. That being said, Asia Pacific, which accounted for only 21.5% of the global demand in 2017, is anticipated to gain its share by 155 BPS during 2017–2022.
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What are they key segments of global organic soups market?
Based on product type, the TMR report segments the global organic soups market into soup pre-mixes, ready to serve wet soup, condensed wet soup, and other organic soups. Among these, ready to serve wet soup segment accounted for 32.5% of the overall demand in 2017, which was worth US$615.1 mn individually. This particular segment is expanding at an above-average CAGR of 6.1% and is estimated to be worth US$826.9 mn by the end of the forecast period. Ingredient-wise, the market for organic soups has been bifurcated into tomato, beans, chicken, beef, artichokes, and mixed vegetables, whereas on the basis of sales channel, the report categorizes the market for organic soups into HORECA sales, modern trade sales, online stores, and convenience stores.