According to our latest market study on “Asia Pacific Canned Soups Market Forecast to 2027 – COVID-19 Impact and Regional Analysis – by Type (Condensed and Ready-to-Eat), Category (Vegetarian and Non-Vegetarian), Processing (Regular Soup and Organic Soup), and Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online, and Others),” the market was valued at US$ 1,134.22 million in 2019 and is projected to reach US$ 1,480.85 million by 2027; it is expected to grow at a CAGR of 3.5% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players, along with their developments, in the market.

Soup is a good source of nutrition, minerals, vitamins, and protein; therefore, its demand is increasing across the world. Canned soup is basically a ready-to-eat or packed soup that can be made in the oven or microwave by heating the product at a certain temperature. Rising advancements in food and packaging technology and increasing variety of organic canned soup are propelling the demand for canned soup across Asia Pacific. Currently, ready-to-eat soups are among food products that consumers are stocking and buying due to fears of a shortage in this Covid-19 pandemic. The consumer's paradigm shifts from the traditional homemade soups to ready-to-eat canned soups is another critical factor driving the canned soups market across various developed and developing countries. The canned soups producers are actively launching new products in the Asia Pacific market to cater to both diversified taste preferences as well as nutritional needs. For instance, in October 2019, Campbell's launched the Signature Reduced Sodium Soups, where a company has targeted the Ready-to-Eat Soup market in order to cater to the growing demand for low sodium soup. The company states that the product can be utilized for consumers and patients who follow low sodium diets. The growth of advancements in the food & packaging technologies to improve shelf-life, coupled with the introduction and innovation of new regional flavored organic canned soups, are factors expected to boost the canned soups market demand.

The shelf life of any canned soup is the amount of time it requires to degrade to the non-palatable state. Shelf life extension ingredients added in the canned soup products slow down the process of food degradation and enable longer storage of the food items. They are both organic and conventional in origin. Shelf life extension ingredients also aid in the keeping food logistics decongested, sustain canned soups in frozen areas, and improve consumer confidence over stability of food items. Consumers have become more aware about their diet. Health benefits such as improved immunity, lower caloric intake, and high protein intake are other factors expected to influence the product demand. Moreover, canned soups with high shelf life also comprise high content of nutrition, minerals, vitamins, and proteins. The youngsters are preferring to purchase premium goods due to health attributes and are ready to change their habits toward healthier nutrition. Canned soup made from fresh vegetables, and bone and meat has gained tremendous popularity as it offers various health benefits and nutrition as well as it has a high shelf life. In addition, consumers are opting for canned soup products over other protein sources owing to its benefits such as the presence of macro and micronutrient in good proportion with a high concentration of protein. Additionally, packed soups are majorly preferred over soups served in the restaurants and food outlets due to ease of access as well as durability of packages. Drinking canned soups or making a simple soup help add more protein into the diet and prevents one from consuming too many calories. Thus, consumer’s inclination toward nutrition-based canned soup drives the market growth.

The Asia Pacific canned soups market has been analyzed on the basis of historical, current, and future trends in countries such as China, Japan, South Korea, Australia, among others.  These developed countries are witnessing rapid growth in the middle-class population, along with growth in urbanization, which offers several opportunities for the key market players in the canned soups market. The food processing industry in the countries of Asia Pacific has experienced a huge shift over the years. Due to the ever-increasing disposable income of the middle-income group population, people are willing to pay higher prices for food products, such as canned soups and other processed meat products. Factors such as changing consumer taste preferences and increasing demand for processed food products, as well as the availability of numerous product variants, has boosted the growth of the canned soups market in the Asia Pacific region. Also, the growing demand for canned soups among health-conscious consumers is due to the rising preference for convenience food is further projected to propel the market growth over the forecast period. Increasingly busy urban lifestyles in Asia-Pacific have resulted in consumers opting for convenient food that does require less time for cooking or preparation. The rising preference for ready-to-eat meals is fueling the canned soups products market in the region.

Recently, the World Health Organization (WHO) announced the outbreak of COVID-19, the novel form of a disease caused by the virus SARS-CoV-2, as a pandemic. This outbreak started in December 2019 in Wuhan, China, and later, it turned into a pandemic, causing numerous deaths worldwide. The outbreak of COVID-19 pandemic has severely impacted the food and beverages industry. The shutdowns of this industry and supply chain disruptions due to lockdown of countries has created a strain on the supplies of the products of this industry. India has the highest number of confirmed cases of COVID-19 morbidities in Asia Pacific. Owing to this pandemic, the Asia Pacific food and beverages industry has witnessed an abrupt downturn in several major countries. The food and beverages industry in Asia Pacific suffered its one of the biggest drops in activities after the restaurants and food centers were closed, and the supply of food products and workers were disrupted due to the pandemic. The drop in the demand for food products in the region has directly affected the sales of canned soups in Asia Pacific.

A few well-established players operating in the Asia Pacific canned soups market are Campbell soup company, Campbell soup company, Amy’s Kitchen Inc, General Mills Inc., The Kraft Heinz Company, Baxters Food Group, Unilever, and Hain Celestial Companies.

The report includes the segmentation of the Asia Pacific Canned Soups market as follows:

• Condensed
• Ready-to-Eat

• Vegetarian
• Non-Vegetarian

• Regular Soup
• Organic Soup

• Hypermarkets/Supermarkets
• Convenience Stores
• Online
• Others

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC