Market Trends of North America Soup Industry
This section covers the major market trends shaping the North America Soup Market according to our research experts:
Rising Trend of Convenience Foods
There is a significant rise in convenience food products, particularly among middle-to-higher-income consumers. The surge can be attributed to the working population in the region and the growing demand for quick and time-saving meal options. This further leverages the demand for product formats that offer greater convenience in terms of packaging, cooking time, shelf-life, etc. For instance, ready-to-serve and instant soup formats are highly preferred among consumers, given the lesser time required to prepare them.
Furthermore, companies are marketing these products as 'Cup-a-Soup,' projecting a clear format purpose to its target consumers. Manufacturers are also coming up with innovative product offerings to ease consumer experience, further augmenting the market's growth. For instance, in November 2021, Campbell launched a series of soups with innovative plant-based, spicy flavors and better-for-you ingredients. The trend of convenience food and plant-based food is driving the growth of the market, and market players are also making efforts to reach consumers better.
United States holds the Largest Share in North America
Changing perceptions about soups as a healthier food choice, frequently preferred quick meals, and the launch of premium and novel flavors in soups are some of the factors propelling the growth of the market in the country. The evolving retail landscape and the introduction of soup across brands are the key factors dictating the progress of the market. Millennials in the country are increasingly becoming health-conscious and avoiding high-sodium and artificial ingredients which are contained in many soup products.
Thus, many companies manufacture products targeting the health requirements of individuals in the country. For example, Health Valley Organic, a subsidiary of Hain Celestial, offers lentil soups and split pea soups that contain no added salt. These are also certified by the American Heart Association, increasing the consumers' confidence in the products. Campbell Soup is the most popular soup brand in the United States. Campbell offers a wide range of products, such as ready-to-serve, condensed, chilled, and UHT.
