North America with major share in the Global Soup Market
North America is projected to maintain its dominance bygenerating thehighest revenue of $7.5billionin global soup market by 2023. The North American soup market region leads in terms of volume, with 55.9% share in 2017, and is estimated to grow at a CAGR of 0.70% during the forecast period.Rest of the World (RoW) region which includes South America, Middle East and African regions, is projected to witness the fastest growth during the forecast period, both in terms of value and volume, with CAGR of 8.41% and 5.32% respectively.
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Selected Analysis done in the full Report: Global canned/preserved soup market leads atpresent, attaining maximum amount of revenue. Canned/preservedsoup is estimated to reach revenue of $9.16 billion by 2023, and in terms of volume it will reach 1,531 KGM with a CAGR of 2.09% and 1.30% respectively during the forecast. Canned soups are available in two forms:condensed and ready to eat. In both the forms, the content can be vegetarian and non-vegetarian. Dehydratedsoup market is estimated to reach revenue of $5.6 billion by 2023 and 541 KGM with a CAGR of 5.29% and 4.57% respectively duringthe forecast period. Frozen soups comprise of ingredients like fatty acids, natural colors, natural flavors, high intensity sweeteners (HIS) and flavoring.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
The availability of departmental store and supermarket will influencethe customers to select this distribution channel and thereby contributing major share during the forecast period.
Growing demand for natural and organic soup is triggering the growth in the global soup market. Increasing desire of low-class and middle-class individuals to purchase products cheaply will bolster the growth of discount store market by volume.
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Key Players of the Soup Market
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Nestle
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Spar Group Ltd
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Countrywide
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Midland Food Group
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Ajinomoto Co., INC and More Download Sample Report
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