Key regions: United Kingdom, Russia, Philippines, United States, Spain
The Soups Market in the Convenience Food Market of The Food market in the Americas has seen slow growth due to factors such as changing consumer preferences and lack of innovation. Despite this, the market is expected to continue growing due to increasing demand for convenient and healthy meal options.
Customer preferences: The Soups Market of the Convenience Food Market within The Food market is witnessing a growing demand for healthier and more nutritious options. This is driven by changing consumer preferences towards clean label and organic ingredients, as well as a rising awareness of the importance of a balanced diet. As a result, manufacturers are introducing new soups made from natural and wholesome ingredients, catering to the needs of health-conscious consumers. Additionally, the rise of vegetarian and vegan diets is also fueling the demand for plant-based soup options.
Trends in the market: In the Americas, the Convenience Food Market is experiencing a shift towards healthier options, with a focus on soups made with natural and organic ingredients. This trend is driven by consumer demand for transparency and sustainability in their food choices. As a result, many convenience food companies are investing in research and development to create more nutritious and environmentally friendly soup options. This trajectory towards healthier soups not only benefits consumers, but also presents opportunities for industry stakeholders to tap into the growing market for clean label and sustainable products.
Local special circumstances: In the Americas, the Soups Market of the Convenience Food Market within The Food market is heavily influenced by the busy lifestyles of consumers, leading to a high demand for quick and convenient meal options. In the United States, the market is dominated by canned soups, while in Mexico, traditional soups made from scratch are still preferred. In Brazil, the growing health consciousness has led to the demand for organic and gluten-free soups, while in Canada, the market is driven by the increasing number of single-person households. These factors play a significant role in shaping the Soups Market in the Americas.
Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is impacted by macroeconomic factors such as consumer spending power, inflation rates, and economic stability. In countries with high levels of disposable income and low inflation rates, there is a greater demand for convenience food products, including soups. On the other hand, in countries with economic instability and low consumer spending power, the demand for convenience food products may be lower. Additionally, fiscal policies, such as taxes and tariffs, can also affect the production and distribution costs of soups, ultimately influencing market performance. Overall, a strong and stable economy with favorable fiscal policies can contribute to the growth of the Soups Market within the Convenience Food Market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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