The European soup market is expected to grow at a CAGR of 3.3% over the forecast period to reach USD 9671.82 million by 2021. Russia is the most lucrative market in Europe followed by Italy and the U.K. However, Campbell, the market leader, stopped its operation in Russia due to local preferences for soups and issues with sales and distribution. The high unemployment rates in Spain make pricing a crucial factor in the country.
The increasing demand for convenience food, rising awareness of the health benefits of soup and the high standard of living are the major drivers of the soup market growth in Europe. In Russia, people consume soup about six days in a week. The demand for canned soups has been decreasing due to their bulk, difficulty in opening, environmental and health concerns due to the addition of preservatives. The associated production cost is hindering the market growth for frozen and chilled soups.
- The European soup market has been segmented by form into liquid, dehydrated, instant, chilled, frozen, and UHT. By sales, the market is segmented into canned and dried soup, with the latter dominating the market.
- The European soup market is also segmented by distribution channel into supermarkets/hypermarkets, convenience stores, online, direct selling and others. Of these, supermarkets/hypermarkets contribute the highest revenue.
Europe is the largest market in the world for soups because of the growing demand for high-quality meals that can be prepared at a short notice. The market has been geographically segmented into Germany, U.K, France, Spain, Italy, Russia and others.
The market for soups is highly fragmented with a large number of international and regional vendors. The growing demand for organic foods in Europe is encouraging vendors to introduce healthier varieties with fewer or no additives.
Some of the major players in the market include:
- Market analysis for the Europe soup market, with region specific assessments and competition analysis on global and regional scales.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect the market on both global and regional scales.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- Insights on the major countries/regions where this industry is growing and identifying the regions which are still untapped.
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modeling
2.4.4 Expert Validation
3. Key Findings of the Study
4. Market Dynamics
4.1.1 High Standard of Living
4.1.2 Increase in Demand for Convenience Food Products
4.1.3 Increase in Awareness of the Health Benefits
4.2.1 Health Concerns
4.2.2 High Production Cost
4.3.1 New Product Launches
4.4 Porter Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Form
5.2 By Sales
5.3 By Distribution Channel
5.3.1 Supermarkets/ Hypermarkets
5.3.2 Convenience Stores
5.3.3 Grocery Stores
5.3.4 Direct Selling
5.4 By Geography
6. Competitive Landscape
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles
7.1 Associated British Foods
7.2 Campbell Soup
7.3 Cia Surgelati Italiana
7.5 ConAgra Foods
7.6 Gallina Blanca
7.7 General Mills
7.8 Kraft Heinz
7.10 Nissin Foods
7.11 Premier Foods