US demand for soups and stews is forecast to see marginal annual declines below 1.0% in nominal terms through 2022, according to Soups & Stews: United States, a report recently released by Freedonia Focus Reports. Shifting consumer preferences and some shoppers’ negative perception of canned food will restrain gains. Competition from fresh soups and stews made at home, prepared by grocery stores, or provided by foodservice establishments will also prevent advances, as will competition from other similarly convenient meal options. Furthermore, demand growth will be hindered by the availability of meal options perceived as healthier, fresher, or trendier, particularly those offered by meal kits.
More information about the report is available at:
However, suppliers will continue to invest in new and improved soup formulations and marketing to support sales. Ongoing income growth and desire for convenient meals will cause some consumers to purchase premium soups, supporting demand in value terms. Suppliers are also investing in alternatives to cans for packaging to improve consumer perception of canned soup, including aseptic containers and glass jars.
These and other key insights are featured in Soups & Stews: United States. This report forecasts to 2022 US soups and stews demand and shipments in nominal US dollars at the manufacturer level. Total demand and shipments are segmented by product in terms of:
- canned soups and stews
- frozen soup
- dried soup mixes and broths
- canned seafood soup
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2007 to 2017.
The scope of this report represents soups made in a commercial manufacturing or food processing facility for packaging and shipment to external customers. Canned soup refers to shelf-stable processed soup that is heat treated and packaged in airtight containers such as aseptic containers, cans, and jars. Excluded from the scope of this report are soups prepared in grocery stores or foodservice establishments such as restaurants and cafeterias. Re-exports of soups and stews are excluded from demand and trade figures.
This report includes the results of a proprietary national online consumer survey of US adults (age 18+). This Freedonia Focus Reports National Survey has a sample size of approximately 2,000, screened for response quality and representative of the US population on the demographic measures of age, gender, geographic region, race/ethnicity, household income, and the presence/absence of children in the household.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
SOURCE The Freedonia Group