Soup Market - Global Annual Review - 2016
In the Asia-Pacific region, several rapidly growing markets to watch include China, India, Indonesia, Vietnam and Malaysia. These countries have all enjoyed CAGR value growth, albeit on small bases of business. Increasing urbanization, rising incomes and the expansion of modern retail, especially the convenience store channel, is driving uptake of convenient and easy to prepare foods such as prepared soup.
Elsewhere in the developed world, time-pressed consumers have adopted snacking lifestyles, and are now looking for healthy, nutritionally dense snack products to meet their on-the-go needs. Prepared soup is well-regarded as a healthy option and well-positioned to take advantage of consumers’ changing lifestyle needs.
Globally, the European region accounted for the largest share of global prepared soup NPD in 2015, followed by the Asia-Pacific region and North America. Overall, Japan was the leading country for soup introductions in 2015, followed by the UK, the US and France.
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