Campbell's Soup Industry
Overview of the Soup Industry.
Soups have always been very popular among Canadians. Recent study showed that level of consumption of soups in Canada has increased and is showing a steady growth. Calculations say that on average each Canadian consumes up to 85 soups a year (Stefanac). According to Canadian Grocer, soup consumption is very high among people over 45 years old (Stefanac). But recently, soup industry could see a growth of the consumption among so called Generation Y which represent group of people of 18-34 years old (Stefanac). While soup consumption has been growing, the exact opposite was happening to canned soups in terms of sales. Over the past five years, the sale of soup in a can has declined significantly due to people favoring fresh and natural soups. Freshly made soups are being sold in supermarkets and restaurants due to the increase in demand for natural products. The soup industry has become more and more competitive over the years and more brands, and flavors of soup have been introduced to the market. Campbell's, known as the world's largest soup makers, have put efforts into changing packaging, to innovate their products and attracts more consumers. In Canada, researchers discovered that Campbell’s canned soup to be recorded as being consumed 23 times in 2002 to 16 times in 2012 (Warhol). Homemade soup has remained steady over the years claimed to be consumed 29-31 times a year per average Canadian (Warhol). Another change in the soup industry is the affect …show more content…
Generation Y brings to the consumption of soup. The boomers had a much higher consumption of soup per year, compared to Gen Y. This is also based around the idea that canned soups are not healthy for people, and are replaced by organic and natural soups. Campbell’s has taken steps in advertising reduced sodium soups, and also being more specific on the ingredient labels. Soup industry is facing new trends currently. We can see that consumption a common and preferred in the past canned soups is declining. This can be explained by the increase in the consumption of soups by Generation Y. Generation Y is known for being environment friendly group of people who also care about eating healthy. To shake up sales Campbell’s introduced new kinds of soups into market. Now, they offer soups that are more portable and healthier. This is something Generation Y would agree to buy, since new soups intend to have more vitamins and be more environmental friendly, since Campbell’s try to get rid of steel cans.
Overall, after concluding a research, we can see all current trend in a soup industry in Canada.
Consumption of soups is increasing steady, especially among representative of Generation Y. However, increase in the consumption is followed by decrease in sales of canned soups. Today’s consumers tend to prefer soups that are much fresher and healthier and packed in an environment friendly way. This means moving away from old soups in steel cans that used to be so common in the
past.
Soups have always been very popular among Canadians. Recent study showed that level of consumption of soups in Canada has increased and is showing a steady growth. Calculations say that on average each Canadian consumes up to 85 soups a year (Stefanac). According to Canadian Grocer, soup consumption is very high among people over 45 years old (Stefanac). But recently, soup industry could see a growth of the consumption among so called Generation Y which represent group of people of 18-34 years old (Stefanac). While soup consumption has been growing, the exact opposite was happening to canned soups in terms of sales. Over the past five years, the sale of soup in a can has declined significantly due to people favoring fresh and natural soups. Freshly made soups are being sold in supermarkets and restaurants due to the increase in demand for natural products. The soup industry has become more and more competitive over the years and more brands, and flavors of soup have been introduced to the market. Campbell's, known as the world's largest soup makers, have put efforts into changing packaging, to innovate their products and attracts more consumers. In Canada, researchers discovered that Campbell’s canned soup to be recorded as being consumed 23 times in 2002 to 16 times in 2012 (Warhol). Homemade soup has remained steady over the years claimed to be consumed 29-31 times a year per average Canadian (Warhol). Another change in the soup industry is the affect …show more content…
Generation Y brings to the consumption of soup. The boomers had a much higher consumption of soup per year, compared to Gen Y. This is also based around the idea that canned soups are not healthy for people, and are replaced by organic and natural soups. Campbell’s has taken steps in advertising reduced sodium soups, and also being more specific on the ingredient labels. Soup industry is facing new trends currently. We can see that consumption a common and preferred in the past canned soups is declining. This can be explained by the increase in the consumption of soups by Generation Y. Generation Y is known for being environment friendly group of people who also care about eating healthy. To shake up sales Campbell’s introduced new kinds of soups into market. Now, they offer soups that are more portable and healthier. This is something Generation Y would agree to buy, since new soups intend to have more vitamins and be more environmental friendly, since Campbell’s try to get rid of steel cans.
Overall, after concluding a research, we can see all current trend in a soup industry in Canada.
Consumption of soups is increasing steady, especially among representative of Generation Y. However, increase in the consumption is followed by decrease in sales of canned soups. Today’s consumers tend to prefer soups that are much fresher and healthier and packed in an environment friendly way. This means moving away from old soups in steel cans that used to be so common in the
past.