Key regions: United Kingdom, Russia, Philippines, United States, Spain
The Soups Market in the D-A-CH region is experiencing a negligible growth rate due to various factors such as increasing competition, changing consumer preferences, and limited product innovation. Despite the convenience offered by ready-to-eat soups, the market is facing challenges in driving significant growth.
Customer preferences: In the Soups Market of the Convenience Food Market, there has been a growing preference for healthy and convenient options. This has led to the rise of plant-based and organic soup products, as well as a demand for soups with functional ingredients such as turmeric and ginger. Moreover, with the increasing focus on sustainability and ethical consumption, consumers are gravitating towards soups made with locally sourced and ethically produced ingredients. This trend is driven by a desire for transparency and a closer connection to the food they consume.
Trends in the market: In D-A-CH, the Soups Market of the Convenience Food Market within The Food market is experiencing a shift towards healthier, more natural ingredients. This trend is driven by increasing consumer awareness of health and wellness, as well as a growing demand for clean label products. As a result, there is a rise in the use of organic, non-GMO, and plant-based ingredients in soups. This trend is expected to continue, with industry experts predicting a surge in demand for soups made with wholesome, nutrient-rich ingredients. This shift towards healthier options has significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in innovative products to remain competitive.
Local special circumstances: In D-A-CH, the Convenience Food Market is heavily influenced by the region's high demand for convenience and time-saving solutions. This has led to a significant market for ready-to-eat soups, especially in Germany where there is a strong culture of consuming soups as a meal. Additionally, the strict regulations surrounding food safety and labeling in this region have also shaped the Soups Market, with a focus on natural and organic ingredients. In Switzerland, where there is a strong emphasis on traditional and regional cuisine, the Soups Market has seen a rise in demand for authentic soups made with locally-sourced ingredients. This reflects the country's commitment to sustainability and supporting local businesses.
Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is significantly impacted by macroeconomic factors in the D-A-CH region. The overall economic health of Germany, Austria, and Switzerland greatly influences consumer spending on convenience food products, including soups. Fiscal policies and trade agreements between these countries and their trading partners also play a role in shaping the growth of the market. Additionally, changing consumer preferences and increasing health awareness among the population are driving the demand for healthier and more convenient soup options, leading to the introduction of new and innovative products in 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.
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