Key regions: United Kingdom, Russia, Philippines, United States, Spain
The Soups Market in Zimbabwe is experiencing minimal growth due to factors such as low consumer health awareness and limited adoption of digital technologies. Convenience offered by online services is also impacting the growth rate.
Customer preferences: Convenience is a key factor driving consumer choices in the Soups Market of the Convenience Food Market in Zimbabwe and is expected to continue to shape the market in the coming years. Busy lifestyles and the growing prevalence of single-person households have led to an increased demand for ready-to-eat and easy-to-prepare soups. Additionally, the growing popularity of online grocery shopping and food delivery services has made it even more convenient for consumers to purchase soups.
Trends in the market: In Zimbabwe, the Soups Market within the Convenience Food Market is experiencing a rise in demand for plant-based and organic options. This trend is driven by increasing health consciousness and a desire for sustainable food choices. In addition, there is a growing demand for quick and convenient meal options due to busy lifestyles. These trends are expected to continue, with potential implications for industry stakeholders including a need for innovative and eco-friendly packaging, as well as a focus on sourcing and promoting locally grown ingredients.
Local special circumstances: In Zimbabwe, the Soups Market of the Convenience Food Market within The Food market is heavily influenced by the country's economic and political conditions. With high inflation rates and currency instability, consumers are turning to affordable and convenient options like canned soups. In contrast, the Soups Market in South Africa is driven by a growing health-conscious population, leading to a demand for organic and healthier soup options. Additionally, strict food regulations in South Africa contribute to the market's dynamics, ensuring quality and safety for consumers.
Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is also influenced by macroeconomic factors such as consumer spending, inflation rates, and government policies. In Zimbabwe, the economy has been struggling due to high inflation rates and a weak currency, resulting in decreased consumer purchasing power. This has impacted the demand for convenience food products, including soups. On the other hand, in South Africa, a more stable economy and rising disposable incomes have led to increased demand for convenience foods, including soups. In both countries, government policies and regulations on food safety and imports also play a role in shaping the market for 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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