Chilled
Soup Market: Overview
Healthy
snacking served chill is a key trend gaining traction among consumers
worldwide, especially the demand for healthy snacking for summer season. Of the
wide variety of flavors, fruit-flavored soups have earned new preferences among
consumers looking for new sensory perceptions from the consumption of soup.
Over the years, sweet tasting soups are gaining traction on the back of demand
for tasty as well healthy snacks. Growing demand for savory options is
bolstering the growth of the market.
A variety
of packaging types are tested for preserving the taste and shelf life of the
overall products for longer duration. Some of the major types of packaging
preferred by manufacturers of chilled soup are pet bottles, carton packaging,
cups/tubs, and pouches. Key distribution channels targeted by players in the chilled
soup market are supermarkets/hypermarkets, premium grocery stores,
online retail, and direct selling.
The study
on the chilled soup market presents a critical evaluation of the shares of key
manufacturers, level of concentration, barrier entry, and the extent of market
influence. The analysts hope to offer evidence-based insights into market
attractiveness of new distribution channels and the trend that will sustain the
momentum in next 10 years. The research also offers insights into the changing
consumer preference and untapped avenues for new entrants as well as incumbent
players in the chilled soup market.
Chilled Soup Market: Key Trends
Strides
made in organized retail format are strengthening the prospects of players in
the chilled soup market. Moreover, trend personalization adopted by chilled
soup brands has opened new avenues in the chilled soup market in recent times.
However, in several parts of developing regions, market players struggle with a
fragile distribution channel. A part of this may be due to still emerging
organized retail, while another crucial factor is the lack of awareness of the
branding of such soup makers.
Nevertheless,
the growing popularity of ready-to-eat snacks and beverages has boosted the
popularity of chilled soup across various demographics in developing economies
in recent years. Moreover, the demand for such products has seen notable rise
in specialty distribution channel in urban areas of emerging economies.
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Chilled Soup Market: Competitive Analysis and Key Developments
The lower
shelf life of chilled soup is a key concern for existing and new manufacturers
in the chilled soup market. Top soup makers are targeting popular distribution
channels to garner high shares. Numerous makers have entered into alliances
with packaging manufacturers to overcome this constraint. Several makers of
on-the-go breakfast products are targeting millennials and office goers in
order to gain a competitive edge over their peers in the chilled soup market.
Some of
the key players in the chilled soup market are PepsiCo, Inc., Woolworths Group
Limited, Campbell Soup Company, Tio Gazpacho LLC, Sonoma Brands, Soupologie
Limited, The Hain Daniels Group Limited, and The Billington Group. These
players are keeping a keen eye on changing sensory characteristics of consumers
of soups in order to gain early-mover advantage in near future.
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