Key regions: United Kingdom, Russia, Philippines, United States, Spain
The Convenience Food Market in Argentina has seen limited growth due to factors such as a slow increase in demand for convenience foods, low health consciousness among consumers, and the traditional preference for homemade soups.
Customer preferences: As consumers in Argentina continue to embrace convenience and on-the-go options, the Soups Market within the Convenience Food Market is seeing a rise in demand for single-serve and ready-to-eat soup products. This trend is driven by busy lifestyles and the need for quick and easy meal options. Additionally, there is a growing preference for healthier and more natural soup options, leading to an increase in demand for organic and plant-based soups. These shifts in consumer preferences are also influenced by a growing focus on health and wellness, particularly among younger demographics.
Trends in the market: In Argentina, the Soups Market of the Convenience Food Market within The Food market is experiencing a surge in demand for healthy and organic options. This trend is driven by a growing health consciousness among consumers and an increasing focus on sustainable and ethical food production. As a result, there is a rise in the availability of soups made with natural ingredients and free from additives and preservatives. This trajectory is significant for both consumers and industry stakeholders, as it presents opportunities for product innovation and differentiation. It also reflects a shift towards a more health-focused and environmentally conscious market, which could have implications for the future of the industry as a whole.
Local special circumstances: In Argentina, the Soups Market of the Convenience Food Market within The Food market is influenced by the country's strong cultural ties to soup as a staple dish. This has led to a high demand for soup products, particularly those that are locally sourced and traditional in flavor. Additionally, Argentina's regulatory environment favors domestically produced goods, which has created opportunities for local soup manufacturers to thrive. The country's diverse geography also allows for the production of a variety of soup ingredients, further driving market growth.
Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is impacted by macroeconomic factors such as consumer spending patterns, disposable income levels, and economic stability. In Argentina, for example, the recent economic crisis has caused a decline in consumer spending, leading to a decrease in demand for convenience foods, including soups. Additionally, fluctuations in currency exchange rates and inflation rates can affect the pricing of soups in the market, making it more or less affordable for consumers. Government policies and regulations, such as import and export restrictions, can also impact the availability of ingredients and packaging materials, ultimately influencing the overall performance of the 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
