Top 5 Vendors in the Packaged Soups Market From 2016 to 2020: Technavio

Technavio publishes a new market research report on the global packaged soups market from 2016-2020. (Graphic: Business Wire)

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LONDON--()--Technavio has announced the top five leading vendors in their recent global packaged soups market report. This research report also lists six other prominent vendors that are expected to impact the market during the forecast period.

The global soup market is experiencing a steady year-over-year growth. One of the factors driving the growth of the market is the increase in demand for convenient as well as healthy food products; they are highly preferred over other unhealthy food products by families. Due to busy lifestyles of consumers and the shortage of time to prepare food, packaged soups, especially instant soups, offer convenience to consumers. Also, factors such as an increase in working women population and increase in demand among kids have resulted in the increased demand for soups. Overall, the global soup market is expected to experience steady growth during the forecast period driven by the increase in the demand for natural and organic soups.

Competitive vendor landscape

The global packaged soups market is dynamic with the presence of many regional and international players. The market is competitive and the vendors are competing based on new product launches, innovative packaging, and increased marketing activities to maintain their market share. The market is expected to remain competitive during the forecast period also due to the growing prominence of private label brands. Private label brands are gaining prominence in most of the major markets and are expected to become a threat to the leading major vendors during the forecast period.

Vendors in the market are spending on research and development to create new products and innovative packaging and are also investing in increasing their production capabilities to meet the consumer demand. In 2015, Campbell Soup Company invested about USD 20 million in Garden Fresh Gourmet to increase the production capacity and invested about USD 18 million to expand the warehouse facilities at its plant,” says Manjunath Reddy, a lead non-alcoholic beverages analyst from Technavio.

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Top five packaged soups market vendors

Campbell Soup Company

Campbell Soup Company focuses on building shareholders' value by driving sustainable and profitable net sales growth. In FY2015, the company took several steps to strengthen its established business. The company focused on the "Real Food That Matters for Life's Moments" strategy, which strives for customer retention and expansion of business operations in new markets.

ConAgra Foods

ConAgra Foods is a North America-based food company that manufactures and markets branded foods for various markets. As of May 25, 2015, the company generated a revenue of USD 15.83 billion and invested USD 90.4 million in R&D. It has 32,900 employees. The company sells its soup products under the Healthy Choice brand. These soup products are sold in the market in canned and microwave bowl formats.

General Mills

General Mills is a manufacturer and marketer of branded consumer foods and sells through retail stores. The company also supplies the branded and unbranded food products to the North American foodservice and commercial baking industries.

As of May 2015, General Mills had 42,000 employees, the revenue generated by the company was USD 17.63 billion, and the company spent USD 0.23 billion on R&D. Some of the subsidiaries of the company include Annie’s Baking, Cereales Partners Latin America, General Mills Argentina, HD Marketing & Distribution, Kifissia Pastries, and Northgate Partners.

Greencore Group

The company develops and manufactures various special recipe products for the retail, foodservice, and institutional trades. Some of the products offered by the company are soups, salads, pasta, meat salads, and desserts. As of 2015, the company had an employee strength of more than 10,000 and a revenue of USD 2.05 billion.

The company operates in two segments: convenience foods and ingredients and property. In 2015, the convenience foods segment reported a revenue of USD 1.97 million and the ingredients and property segment reported a revenue of USD 800 million.

Hain Celestial Group

The company is growing in the market through mergers and acquisition strategies and has successfully completed the acquisition of three companies: Live Clean, Hain Pure Protein Corporation, and EK Holdings. The company is also focusing on innovation and had launched over 200 products in 2015 along with new packaging and reformulations. The company expects a robust growth in all the segments during the forecast period.

The other prominent vendors in the market are:

  • Amy's Kitchen
  • Baxters Food Group
  • Kettle Cuisine
  • New Covent Garden
  • Pacific Foods
  • The Real Soup Company

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio has announced the top five leading vendors in their recent global packaged soups market report from 2016-2020.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com