Indian Soup Market Size Likely to Grow at a CAGR of 4.8% By 2033

As per the current market research conducted by the CMI Team, the Indian Soup Market size is expected to record a CAGR of 4.8% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 1,317.1 Million. By 2033, the valuation is anticipated to reach USD 2,008.5 Million.

Indian Soup Market: Growth Factors and Dynamics

• Changing Lifestyles and Urbanization: Rapid urbanization and the increasing pace of modern life have significantly altered food consumption patterns in India. With more people living in urban areas and leading busy lives, there is a heightened demand for convenient, ready-to-eat food products, including soups. These products fit well into the hectic schedules of urban consumers, who seek quick and easy meal solutions without compromising on nutrition.

• Health and Wellness Trends: The growing awareness about health and wellness among Indian consumers is a crucial driver for the soup market. As more individuals become conscious of their dietary choices, there is a rising preference for healthier food options. Soups, particularly those made with organic ingredients, low sodium, and free from preservatives, are increasingly favored as they align with the desire for nutritious and balanced diets.

• Expanding Middle Class: The expansion of the middle-class population in India, coupled with rising disposable incomes, has significantly impacted consumer behavior. This demographic is more willing and able to spend on a variety of food products, including premium and imported soup brands. The middle class’s increased purchasing power and openness to experimenting with new and diverse food items have driven the growth of the soup market.

• Marketing and Promotional Activities: Major brands are investing heavily in marketing campaigns and promotional activities to enhance product visibility and consumer engagement. Through various channels such as television, social media, and in-store promotions, these companies are creating greater awareness and interest in soups. Effective marketing strategies have played a pivotal role in attracting new customers and retaining existing ones, thereby boosting market growth.

• Retail Expansion: The expansion of modern retail formats, including supermarkets, hypermarkets, and online grocery platforms, has made soups more accessible to a wider consumer base. These retail channels offer a diverse range of soup products, making it convenient for consumers to explore and purchase different varieties. The growth of e-commerce in particular has facilitated easy access to a broader selection of soups, contributing to the market’s expansion.

• Introduction of Local Flavors: To cater to the diverse tastes of Indian consumers, manufacturers are increasingly incorporating local and regional flavors into their soup offerings. This strategy has resonated well with consumers who prefer familiar flavors and traditional recipes. By offering soups that reflect local culinary preferences, companies can tap into a larger market segment and enhance product acceptance and popularity across different regions of India.

Indian Soup Market: Partnership and Acquisitions

• In 2022, The Campbell Soup Company revealed intentions to unveil new flavors for its soup products, commencing in the first quarter of the fiscal year 2023. This strategic move aims to refresh its offerings and cater to evolving consumer preferences in the market.

• In 2021, General Mills introduced soup paired with toppings in one container, aiming to enhance the consumer experience. This innovative product combines classic soups with tasty toppings, providing an extra crunch. The company is enthusiastic about offering this convenient and flavorful option to customers.

Report Scope

Indian Soup Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the India Soup Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Supply Chain Disruptions: The COVID-19 pandemic caused significant disruptions in the supply chain, affecting the production and distribution of soup products. Lockdowns and restrictions led to delays and shortages of raw materials, packaging, and finished goods, resulting in reduced availability of soups in the market.

• Shift in Consumer Behavior: During the pandemic, there was a noticeable shift in consumer behavior towards home-cooked meals and essential items. The initial focus was on stockpiling staples and essentials, leading to a temporary decline in demand for non-essential processed foods, including soups. However, as the pandemic progressed, there was an increased interest in shelf-stable and convenient meal options, which included soups.

• Increased Focus on Health and Immunity: Post-pandemic, there has been a heightened awareness of health and immunity among consumers. Soups, being perceived as healthy and nutritious, have seen a resurgence in demand. Brands have introduced soups fortified with vitamins, minerals, and immune-boosting ingredients to cater to this health-conscious trend.

• Expansion of E-commerce Channels: The growth of e-commerce during the pandemic has continued to flourish post-COVID. Consumers have become more comfortable with online shopping, and the availability of soups on various e-commerce platforms has expanded. This has made it easier for consumers to access a wide range of soup products from the comfort of their homes.

• Innovative Product Offerings: To adapt to changing consumer preferences, soup manufacturers have introduced innovative products, such as single-serve portions, meal kits, and soups with unique flavors and ingredients. These innovations have attracted a broader audience and encouraged repeat purchases, contributing to market recovery.

• Enhanced Safety and Hygiene Standards: Post-COVID, there is a greater emphasis on safety and hygiene in food production and packaging. Soup manufacturers have adopted stringent safety measures to ensure product quality and consumer trust. This commitment to hygiene has reassured consumers and boosted their confidence in purchasing packaged soups.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Indian Soup Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Indian Soup Market:

• Nestlé India Ltd.
• Hindustan Unilever Limited
• ITC Limited
• Knorr (by Unilever)
• Campbell Soup Company
• MTR Foods Pvt. Ltd.
• Capital Foods Pvt. Ltd. (Ching’s Secret)
• Kohinoor Foods Ltd.
• Batchelors (by Premier Foods)
• Organic India Pvt. Ltd.
• Tata Consumer Products Limited
• Future Consumer Limited
• Gits Food Products Pvt. Ltd.
• Haldiram’s
• Patanjali Ayurved Limited
• Others

The Indian Soup Market is segmented as follows:

By Type of Soup

• Canned/Packaged Soups
• Dehydrated/Dry Soups
• Chilled/Refrigerated Soups
• Frozen Soups
• Bottled Soups
• Others

By Ingredients

• Vegetable-Based Soups
• Meat-Based Soups
• Seafood Soups
• Legume/Bean Soups
• Fruit Soups
• Others

By Dietary Preferences

• Organic Soups
• Gluten-Free Soups
• Vegan/Vegetarian Soups
• Low-Sodium/Low-Fat Soups
• Keto/Paleo Soups
• Others