|
|
 |
|
Viewing report
|
|
|
|
Soup Market - Market Report 2009
Key Note Publications Ltd, April 2009, Pages: 98
This report estimates that the UK soup market was worth £465m at retail selling prices (rsp) in 2008 — an 8.9% increase on the figure for 2007 and 12.3% higher than the value for 2004. The sharp rise in the market's value in 2008 resulted from a number of factors, including increases in raw-material costs, the poor summer weather (which boosted demand for soup), product innovations, and continued advertising and promotional activity.
The three main sectors considered in this Market Report are wet ambient soup, fresh chilled soup and dry soup. Sales of wet ambient soup, the largest sector, were re-energised in 2008 by the introduction of a range of new products from the leading suppliers. The second-largest sector, fresh chilled soup, demonstrated the fastest growth between 2004 and 2008, due in part to the product's healthy image. Dry soup is the smallest sector of the market and has suffered in recent years from the switch by consumers to alternative formats, such as chilled soup.
Although the economic recession is having a significant impact on the retail sector, food sales appear to be holding up reasonably well. In line with this trend, the recession's impact on the soup market is not expected to be too severe. Some categories of soup may even benefit from the downturn, due to their relatively low price. Other categories, such as premium-priced lines, may be more exposed to tightened consumer spending.
The soup market continues to attract major new entrants. In 2008, for instance, the Green Giant food brand entered the UK soup market for the first time, with an ambient range in pouches. On the downside, some new launches have failed to produce the expected results. Heinz, for example, pulled its Farmers' Market range of chilled soups from the shops just 18 months after it was launched in 2007.
The authors forecast that the total UK soup market will show further growth in 2009, driven by various factors, including food price inflation and the ongoing introduction of new varieties of soup. The position of soup as part of the staple diets of many people, its relatively low price and its appeal during periods of economic recession should also help to sustain demand.
Customers who bought this item also bought
United Kingdom Baby Food Market: Analysis & Forecast (2007 - 2017)
Consumer Trends in the Soup Market in the UK
UK Catering Equipment Market Research Report
Canned Foods Market Report 2009
Diet Foods - Global Strategic Business Report
Ethnic Foods Market Report Plus 2009
Consumer Trends in the Chilled & Deli Foods Market in the UK
Food: United Kingdom Industry Guide
Soup Market Market Report 2012
Baby Products Market Assessment 2010
|
|
|
|
