The National Health Service (NHS) in the United Kingdom spent an estimated amount of $7.50 billion in 2015 on overweight and the number is estimated to reach $11.92 billion by 2050. Increasing incidence of obesity disorder impelled by insalubrious diet demands the urgent need to consume less fatty food items. Soups with low-calorie intake are considered as healthy food choices for people with obesity disorder. Growing awareness among people towards health and wellness are the major factors influencing the daily intake of nutritious and minimal calorie food products. The growing demand for convenience food and increasing awareness among the population towards health benefits of soup are the major drivers of the Europe soup market. Furthermore, increasing demand for organic soups with fewer or no additives is the key factor fueling the demand for Europe soup market.
The Europe soup market size was valued at $5,871 million as of 2018 and is expected to grow with a CAGR of 4.07% throughout the forecast period 2019-2025.
The Old Continent with a Spoon – Nutritious European Soups
Changing lifestyle, growing income, and nutritional concerns are the key factors driving the Europe soup market share. Also, the increasing female workforce is contributing to the sales of the soup market in Europe. European countries especially Russia and France, are popularly known for packaged and processed foods. Modern consumers prefer longer shelf life of the packaged foods, which is gaining traction in the soup market of Europe. Broccoli soup has almost no fat and it helps in regulating blood pleasure of the body. Fasoulada is a strong vegetable soup which is Greece’s national food. Broth-based clear soups like hot and sour soups can control body weight. Spinach soup has several health benefits as it is nutrient-dense and holds special nutrients that offer anti-inflammatory properties, which can reduce bodily infections.
Growing demand for processed and ready-to-eat are expected to increase the market demand in the upcoming years. The fast-paced modern lifestyle of people has paved the way to an increase in the intake of ready-to-eat food items, such as soups. Aegg, the U.K. based food packaging and design Services Company has developed a new range of fresh soup pots, which features a built-in pouring spout and a tear back lid. Rising per capita disposable income levels of the population, increased marketing campaigns by manufacturers, and the introduction of new flavors are accelerating the market growth.
United Kingdom Holding Major Share in the European Soup Market
The United Kingdom generated 23% of the Europe soup market revenues in 2018. Convenience is the dynamic aspect to drive the sales of the soup market in the U.K. Moreover, young adults in the U.K. favor fresh chilled and exotic flavors of the soup. Increasing product varieties, consumption of health and wellness food items and promotional activities by the market players are contributing to the growth of the soup market in this region. Companies also gain a competitive advantage with an increased focus on brand recognition strategies by improving taste and quality of soups which are the additional factors fueling the demand of the soups in the U.K. Food and beverage industry in the European Union was valued at approximately $1,226 billion in 2016. Thus the sturdy food and drink industry revenues have augmented the growth of soup market in this region.
Instant Soups: A Fulfilling Appetizer indeed!
The application segment that will be creating the most lucrative opportunities for the Europe soup market is instant soup. This application segment is projected to grow at a CAGR of 3.4% through to 2025. The adequate nutrients and calories supplied by these soups coupled with the ease in preparation are the drivers fueling the demand for the instant soup market of Europe. Surge in product offerings such as quick soup, natural and tasty soup, packet soup, and pouched soup also has the potential to influence the growth of the European soup market.
Online stores growing as a sales channel
The surge in online stores as a feasible sales channel has provided new avenues of growth to notable soup brands. Also, there has been an increasing trend among consumers for online shopping, which is anticipated to hold a substantial share of the European soup market. Nowadays, consumers are ready to spend more on food items which offer additional health benefits. Attractive and bio-degradable packaging, in-store promotions, and health claims in labels are some of the common strategies that companies have adopted in recent times. Supermarkets, hypermarkets, and convenience stores also have the potential to increase the Europe soup market sales.
The Major Players in the Europe Soup Market:
Prominent players in the Europe soup market include Arla Foods, Campbell Soup Company, Con Agra Foods Inc., General Mills Inc., Gallina Blanca Inc., HJ Heinz Company, The Hain Daniels Group Limited, Nestle SA, Unilever, and Zerbinati. Strong innovative strategies of the companies are boosting the portfolio of consumer-oriented soup varieties in the Europe region. Furthermore, companies are working on consumer perception to enhance the flavor and taste of the soup.
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Mr. Venkat Reddy
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