India Soup Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the India Soup Market 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.

The India soup market is a dynamic segment of the food industry, characterized by a mix of domestic and international brands offering a variety of products such as canned, dehydrated, chilled, and frozen soups. Key players include Nestlé India, Hindustan Unilever, and ITC Limited.

The market has evolved with changing consumer preferences, driven by urbanization, health consciousness, and the demand for convenience. Recent trends focus on health and wellness, local flavors, and online retail expansion. Post-COVID, there has been a surge in demand for nutritious, easy-to-prepare meals, with companies innovating to meet these needs.

India Soup Market – Significant Growth Factors

The India Soup Market presents significant growth opportunities due to several factors:

• Health and Wellness Awareness: Increasing health consciousness among consumers is driving the demand for soups with health benefits, such as low-sodium, organic, and nutrient-rich options.

• Urbanization and Busy Lifestyles: Rapid urbanization and hectic lifestyles are boosting the demand for convenient and ready-to-eat meal solutions, including soups that are quick and easy to prepare.

• E-commerce Growth: The expansion of online grocery platforms has made it easier for consumers to access a wide variety of soup products, driving market growth.

• Product Innovation: The introduction of new flavors, local and regional variants, and premium ingredients are attracting a broader consumer base, enhancing market appeal.

• Expansion into Rural Markets: There is significant potential for growth in rural areas, where increasing disposable incomes and changing consumption patterns can be tapped with targeted marketing and distribution strategies.

• Development of Functional Soups: Creating soups with specific health benefits, such as immunity-boosting or digestive aid soups, can cater to the growing health-conscious segment and differentiate brands in the competitive market.

• Sustainability Initiatives: Leveraging eco-friendly packaging and sustainable sourcing practices can attract environmentally conscious consumers and build brand loyalty, offering a competitive edge in the market.

India Soup Market – Mergers and Acquisitions

The India Soup Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the India Soup Market include:

• In 2022, Upton’s Naturals launched three new vegan soup recipes with 8-11g of plant-based protein per serving. These products are Non-GMO Certified (NSF), Plant-Based Certified, and allergen-free, catering to health-conscious consumers seeking nutritious and allergen-friendly meal options.

• In 2021, IMCD, a top distributor of specialty chemicals and ingredients, inaugurated an ultra-high temperature (UHT) pasteurization laboratory in Indonesia to enhance its regional technical capabilities. This facility will bolster support for intricate ingredient formulations, particularly in soups, dairy, and beverage applications.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the India Soup Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

India Soup Market – Significant Threats

The India Soup Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Intense Competition: The Indian soup market is highly competitive, with numerous domestic and international players. This intense competition can lead to price wars, affecting profit margins and making it challenging for new entrants to establish themselves.

• Consumer Preferences for Fresh Food: A significant portion of the Indian population still prefers fresh, home-cooked meals over packaged and processed foods. This cultural preference can limit the growth potential of ready-to-eat soup products.

• Supply Chain Disruptions: Factors such as transportation issues, raw material shortages, and geopolitical tensions can disrupt the supply chain, leading to production delays and reduced product availability, negatively impacting sales and market stability.

• Economic Instability: Economic downturns or instability, such as inflation or recession, can reduce consumer spending power. During such times, consumers may prioritize essential items over discretionary purchases like ready-to-eat soups, leading to a decline in market demand.

• Health and Safety Concerns: Any health scares or contamination issues related to processed foods can severely impact consumer trust. Negative publicity or actual incidents of food safety breaches can lead to decreased sales and long-term damage to brand reputation.

Category-Wise Insights:

By Type of Soups

• Canned/Packaged Soups: Canned/packaged soups are ready-to-eat soups stored in cans, pouches, or jars, offering convenience with long shelf lives. These soups are popular due to their ease of preparation and storage. Increasing urbanization and busy lifestyles are driving demand. Brands are innovating with healthier ingredients and local flavors to cater to health-conscious consumers and diverse regional tastes.

• Dehydrated/Dry Soups: Dehydrated/dry soups are soups in powdered form, requiring the addition of water or other liquids to rehydrate and prepare. These soups are favored for their long shelf life and portability. They are particularly popular among travelers and busy professionals. Brands are introducing varieties with improved flavors and nutritional profiles to appeal to health-conscious consumers.

• Chilled/Refrigerated Soups: Chilled/refrigerated soups are fresh soups that require refrigeration and are usually consumed within a shorter timeframe. Demand is growing in urban areas where consumers seek fresh, ready-to-eat meal options. These soups are marketed as healthier and more natural, often with premium ingredients. The market is expanding with increased availability in supermarkets and specialty stores.

• Frozen Soups: Frozen soups are pre-cooked soups that are frozen and need to be heated before consumption. The trend towards convenience foods and the ability to preserve nutritional value have made frozen soups popular. The growth of modern retail and cold chain infrastructure is boosting availability. Brands are focusing on diverse flavor profiles and premium ingredients.

• Bottled Soups: Bottled soups are ready-to-drink soups sold in bottles, often designed for on-the-go consumption. These soups are gaining traction among health-conscious urban consumers looking for quick and nutritious meal options. The trend is supported by the rising popularity of functional beverages. Brands are innovating with unique flavors and health benefits to attract consumers.

• Others: This category includes specialty soups such as instant cup/bowl soups, gourmet soups, and ethnic/traditional varieties. Specialty soups are growing in popularity as consumers seek variety and convenience. Instant cup soups are particularly popular among students and office workers. There is also a rising demand for gourmet and ethnic soups that offer unique and authentic flavors.

By Ingredients

• Vegetable-Based Soups: Characterized by a variety of vegetables as the primary ingredients, vegetable-based soups are popular for their nutritional value and versatility. In the Indian market, trends include the incorporation of regional vegetables, organic ingredients, and innovative flavor profiles to cater to health-conscious consumers and offer a diverse range of options suitable for different dietary preferences.

• Meat-Based Soups: Meat-based soups feature meat as the main ingredient, often combined with vegetables and seasonings. In India, trends include the introduction of traditional meat-centric recipes from different regions, such as mutton or chicken soups with spices, reflecting local culinary preferences. Premiumization with high-quality meats and the addition of international flavors also contribute to the market appeal.

• Seafood Soups: Seafood soups are prepared with various types of fish, shellfish, or other seafood as key ingredients. In the Indian market, trends include the popularity of regional seafood delicacies adapted into soup forms, such as prawn bisque or fish curry soups. Health-focused consumers drive demand for seafood soups due to their lean protein content and omega-3 fatty acids.

• Legume/Bean Soups: Legumes or bean soups are made primarily with beans or lentils, providing a rich source of protein and fiber. In India, trends include the use of locally sourced legumes like lentils, chickpeas, and kidney beans to create hearty and nutritious soups. Vegan and vegetarian options are gaining traction, with legume soups being preferred by those seeking plant-based protein alternatives.

• Fruit Soups: Fruit soups are less common but offer a refreshing and sweet alternative to savory options. In India, trends include the incorporation of tropical fruits like mango, pineapple, and papaya into chilled soups, often served as a dessert or appetizer. Fruit soups are positioned as healthy indulgences, with natural sweetness and vibrant flavors appealing to health-conscious consumers.

• Others: This category encompasses a range of specialty soups that may include unique ingredients or follow specific dietary preferences. Trends in India include the introduction of soups with ancient grains like quinoa or millets, gluten-free options for those with dietary restrictions, and innovative fusion soups that blend Indian and international flavors to create unique culinary experiences.

By Dietary Preferences

• Organic Soups: Organic soups are made from ingredients grown without synthetic pesticides or fertilizers. In India, there’s a growing demand for organic soups due to increasing health consciousness and environmental concerns. Consumers seek healthier, chemical-free options, leading to the introduction of organic soup variants by major brands. This trend aligns with the broader shift towards organic and sustainable food choices in the Indian market.

• Gluten-Free Soups: Gluten-free soups are formulated without wheat, barley, or rye, catering to individuals with gluten intolerance or celiac disease. In India, the demand for gluten-free soups is rising as awareness about gluten-related disorders increases. Major brands are expanding their gluten-free product lines to accommodate this growing consumer segment, offering a wider variety of options in the market.

• Vegan/Vegetarian Soups: Vegan and vegetarian soups contain no animal products or meat, appealing to individuals following plant-based diets. In India, the popularity of vegan and vegetarian lifestyles is driving the demand for such soups. Brands are introducing innovative plant-based ingredients and flavors, reflecting the diverse culinary preferences of consumers. This trend is expected to continue as more people embrace ethical and sustainable food choices.

• Low-Sodium/Low-Fat Soups: Low-sodium and low-fat soups are formulated to meet the dietary preferences of health-conscious consumers seeking to reduce their sodium and fat intake. In India, where lifestyle-related health issues are prevalent, there’s a growing demand for healthier food options. Major brands are responding by offering soups with reduced sodium and fat content, addressing the need for nutritious yet flavorful meal alternatives.

• Keto/Paleo Soups: Keto and Paleo soups are tailored to adhere to ketogenic and paleolithic dietary principles, emphasizing low-carb, high-fat ingredients for keto and whole foods for paleo. While still emerging in the Indian market, these specialty soups cater to the niche segment of consumers following these dietary trends. Brands are introducing keto-friendly and paleo-compliant soup options to capitalize on this growing health-conscious demographic.

• Others: Beyond the specified dietary preferences, the India soup market also witnesses trends such as allergen-free soups, which cater to individuals with specific food allergies. Additionally, functional soups fortified with vitamins, minerals, and other health-boosting ingredients are gaining traction among consumers seeking added nutritional benefits. These diverse offerings reflect the evolving tastes and preferences of Indian consumers in the soup category.

Report Scope

Competitive Landscape – India Soup Market

The India Soup Market is highly competitive, with a large number of manufacturers and retailers operating in India. Some of the key players in the market include:

• 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

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New players like Mongoose and The Boba Place are shaking things up with unique flavors using local ingredients, catering to the Indian palate. Established players like Coco Fresh Tea and Ten Ren’s Tea Time leverage brand recognition and global trends, offering a familiar taste. Both sides dominate by catering to different preferences – innovation vs. comfort.

Online ordering through Cha Bar and Maybe Unlike showcases tech adoption by new players, while established chains focus on physical cafes for the social experience. This creates a dynamic market where both innovation and established brands can thrive.

The India 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