Market Trends of Asia-Pacific Soup Industry
This section covers the major market trends shaping the APAC Soup Market according to our research experts:
Increasing Demand for Convenience Foods
With the changing lifestyles, the demand for convenience foods is expected to increase at a faster rate during the forecast period, compared to the past five years in the region. There is a growing demand for convenience products, particularly among middle-to-higher-income consumers, who are in a position to pay more. The convenience of soups, which are healthier and tastier food alternatives, support the fast-paced lifestyle of these consumers. Factors, such as high availability, lesser cooking time, travel friendly, and good shelf life is added advantages in the soup market.
China Dominates the Soup Market in the Region
There is an increased consumption of soup in the region, as the soup is perceived to be both convenient and healthy. Hence, the soup market in China is expected to benefit from this trend during the forecast period. The growth of the soup market in China is expected to be further supported by an expansion of the ready-to-eat food market during the forecast period. Manufacturers employ various methods to increase their shares in the Chinese soup market. Some of these methods include distributing innovative products, enhancing their presence in new markets or regions, strengthening the base in the already existing markets, etc.
