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Ready to Eat Wet Soup Market Size, Growth, Analysis and forecast By 2029

Ready to Eat Wet Soups Market

Exhibiting a healthy CAGR of 5.6%, the global ready-to-eat wet soups market will make substantial gains during the forecast period, 2019-2029. Upsurge in the on-the-go food consumption trend among a massive working population would be the key growth driver. In addition, the rising demand for cost effective alternatives to cooking is driving the consumption of ready-to-eat wet soups across the globe.

Strategic placement of trending products such as vegan soups or high revenue options such as chicken tomato and mushroom soup can be used to generate interest among customers,” opines Fact.MR in its new research study. 

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Ready-to-Eat Wet Soup Market – Key Takeaways

  • Non-vegetarian based ready-to-eat wet soups capture over three fourths of overall market share, owing to rising global meat consumption.
  • Driven by increased production in Europe and North America, conventional ready-to-eat wet soups are likely to grow 1.7x.
  • North America and Europe are leading the global ready-to-eat wet soups market; East Asia and South Asia & Latin America will generate major growth avenues.
  • East Asia will account for more than 10% of the global market, and display substantial growth over the forecast period.

Ready-to-Eat Wet Soup Market – Key Driving Factors

  • The rising trend of ready-to-eat packaged meals, particularly among millennial consumers is a key factor driving the adoption of ready-to-eat wet soups.
  • A widespread portfolio of ingredients and flavors in the global ready-to-eat wet soup industry will widen investment opportunities.
  • Rising demand for soup through modern trade channels such as supermarkets and hypermarkets will augment demand.

Ready-to-Eat Wet Soup Market – Key Restraint

  • Health concerns among consumers about the adverse effects of consuming processed foods remains a major hindrance to the global market.

Ready-to-Eat Wet soups Garner Greater Focus with Divestment of Less Lucrative Business Divisions

The major companies in the ready-to-eat wet soup market such as Campbell Soup Company, General Mills, Inc., and The Kraft Heinz Company etc are front runners in the ready-to-eat wet soup market.

These players are planning to tap into the unharnessed potential in emerging markets and escalate their production capacities in order to maintain an increasing supply of ready-to-eat wet soups in new geographies.

The complex structure of these companies is propelling many of them to divest their business units. Companies can thus stabilize the overall operations of their businesses and focus on profit-making divisions.

Campbell Soup Company for instance, divested its divisions like Campbell Fresh, Campbell International, Kelsen Businesses, and Arnott’s operations for US$ 3 Bn. Campbell utilized the capital generated from divestment to reduce company’s liabilities.

This has helped Campbell to stabilize overall business operations and focus on soups, snacks, meals and beverages to increase the revenue of the company.

Competitive Landscape

Ready-to-eat wet soup manufacturers are investing in strategic product positioning in retail channels to keep up with prevalent consumer trends. Manufacturers are also investing in changes to packaging formats and smart labeling trends. Key players in the ready-to-eat wet soups market include Conagra Brands Inc., Campbell Soup Company, Princes Limited, The Kraft Heinz Co., Baxters Food Group Limited, Amy’s Kitchen Inc., General Mills Inc, and Hain Celestial Group Inc., among others.

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