Key regions: United Kingdom, Russia, Philippines, United States, Spain
The Convenience Food Market in Nordics has a negligible growth rate, influenced by factors like rising health awareness, adoption of digital technologies, and convenience of online services in the Soups Market.
Customer preferences: In the Soups Market of the Convenience Food Market within The Food market, there is a growing demand for healthier and more nutritious options. This is driven by a shift towards healthier lifestyles and an increasing awareness of the benefits of incorporating more vegetables and plant-based foods into one's diet. As such, there has been a rise in the popularity of soups made with natural and organic ingredients, as well as those that cater to specific dietary preferences such as gluten-free, vegan, and low-sodium options. This trend is also influenced by the rising number of health-conscious consumers in the Nordics, who are willing to pay a premium for products that align with their values and dietary needs.
Trends in the market: In the Nordics, the Soups Market of the Convenience Food Market within The Food market is experiencing a surge in demand for plant-based soups and broths. In response to the growing interest in plant-based diets, major players in the industry are introducing new products made with alternative protein sources such as lentils, chickpeas, and quinoa. This trend is expected to continue as health-conscious consumers seek out more nutritious and sustainable options. Additionally, there is a rising preference for organic and clean label soups, with manufacturers incorporating natural and organic ingredients to meet consumer demand for healthier options. These trends indicate a shift towards more mindful and ethical consumption, presenting opportunities for industry stakeholders to innovate and cater to evolving consumer preferences.
Local special circumstances: In the Nordic countries, the Soups Market of the Convenience Food Market within The Food market is heavily influenced by the region's cold climate and preference for hearty, warm meals. This has led to a higher demand for traditional, locally sourced ingredients and flavors in soups, such as seafood and root vegetables. Additionally, strict regulations on food additives and preservatives have driven the market towards healthier and more natural options. In contrast, the Soups Market in the Soups Market of the Convenience Food Market within The Food market is driven by busy lifestyles and a desire for convenience. This has resulted in a variety of quick and easy soup choices, including single-serve cups and pouches, catering to the on-the-go consumer.
Underlying macroeconomic factors: The Convenience Food Market, including the Soups Market, is greatly impacted by macroeconomic factors such as economic growth, consumer spending power, and government policies. In countries with robust economic growth and high consumer spending power, there is a significant demand for convenient and ready-to-eat food products, including soups. On the other hand, countries with weak economic growth and low consumer spending power may experience a decline in demand for convenience food products. Moreover, government policies such as taxation and trade regulations also play a crucial role in shaping the market landscape for convenience food products. For example, countries with high import duties on food products may have a lower market share for imported soups.
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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