India Soup Brands Market Overview
India Soup Brands' Market Size was valued at USD 0.81 Billion in 2022. The Soup Brands market industry is projected to grow from USD 0.87 Billion in 2023 to USD 1.62 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.00% during the forecast period (2024 - 2032). Rising urbanization, busy lifestyles, and diverse culinary heritage are the main market drivers anticipated to propel the Soup Brands market in India.
Â
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
India Soup Brands Market Trends
Vegan and plant-based diets are becoming more and more popular among health-conscious consumers. Soups that satisfy these dietary requirements meet the increasing need for wholesome, health-conscious food options. Health, environmental, and ethical concerns are the main drivers of India's expanding vegan population. Soup companies may utilize this growing market by offering various tasty and filling vegan soup selections. India has a significant vegetarian population shaped by religious and cultural customs. Soup brands may expand their market reach by catering to this population by offering plant-based and vegan soup options. The availability of vegan and plant-based options encourages soup manufacturers to experiment with different herbs, spices, and additives produced from plants. The varied tastes and preferences of Indian consumers may be satisfied by the distinctive flavor profiles that result from this innovation.
Additionally, a popular trend in India is the growing emphasis on wellness and health, which helps the soup brands' market CAGR grow. Soup businesses can cater to the increasing number of health-conscious consumers by adding beneficial ingredients like turmeric, ginger, garlic, and other herbs recognized for their health advantages. Important vitamins, minerals, and antioxidants are frequently abundant in functional substances. Using these ingredients in soup recipes improves the nutritional profile of the goods and draws in customers looking for healthful, nutrient-dense meal options. India has a long history of Ayurveda, which emphasizes using spices and herbs for medical treatment. Soups made with Ayurveda ingredients may appeal to customers who prefer conventional, all-natural health maintenance methods. Thus driving the Soup Brands market revenue.
India Soup Brands Market Segment Insights
Based on type, India Soup Brands market segmentation includes canned/preserved soup, chilled soup, dehydrated soup, frozen soup, and UHT soup. The canned/preserved soup segment mostly dominated the market. Because they offer a quick and easy meal option, canned soups are a favorite among customers who have hectic lives. Canned soups have a longer shelf life than fresh alternatives because of their preserved nature, which appeals to consumers who want longer-lasting items. To accommodate a wide range of consumer preferences and tastes, canned soup businesses frequently provide a choice of flavors and selections.
The chilled soup category is anticipated to be the fastest growing. Because chilled soups usually have fresh ingredients and little preparation, they are frequently considered healthier options. Cold soups are a good choice for those who value natural ingredients and freshness. Chilled soups are especially well-liked during the summer months as a cold and delicious supper choice. In warmer weather, cool soups like gazpacho or cucumber are popular choices.
Based on category, India Soup Brands market segmentation includes Vegetarian Soup And Non-Vegetarian Soup. The vegetarian soup category earned the greatest revenue. Due to dietary, cultural, and religious inclinations, a significant section of India's population follows a vegetarian diet. As a result, people now generally prefer vegetarian meals like soups. Indian soup businesses frequently release creative vegetarian recipes combining conventional and contemporary ingredients. This invention draws in customers searching for interesting and novel vegetarian solutions.
The market for non-vegetarian soup brands segment is anticipated to grow fastest during the forecast period. Consumers who value high-protein diets for fitness and health find non-vegetarian soups appealing because they are frequently viewed as an excellent source of protein. Popular menu items in restaurants and food service establishments are non-vegetarian soups. The expansion of the food service industry influences the overall demand for non-vegetarian soup options.
Figure 1: India Soup Brands Market, by Category, 2023 & 2032 (USD Billion)
Â
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Soup Brands Packaging Insights
Based on packaging, India Soup Brands market segmentation includes canned, pouched and others. The canned category has the largest market share. Canned soup packaging is more convenient and has a longer shelf life than other options. Cans are popular among consumers looking for ready-to-eat options because of their sealed and airtight design, which keeps the soup fresh and flavor longer. A loyal consumer base that believes in the flavor and quality of their canned soup products is commonly found with well-known soup brands. This brand loyalty facilitates the continuous need for canned packaging.
The pouched category is expected to have the quickest rate. Pouches are popular because they are typically lightweight and, in certain customers' eyes, more environmentally friendly than various forms of conventional packaging. Pouch packaging enables creative and striking designs, which may draw consumers looking for cutting-edge and visually appealing products.
Soup Brands Distribution Channel Insights
Based on the distribution channel, India Soup Brands market segmentation includes supermarkets and hypermarkets, convenience stores, online stores and others. The supermarkets and hypermarkets category has the largest market share. Supermarkets and hypermarkets provide ample shelf space for soup brands to display various products. This range offers choices for various varieties, tastes, and brands to accommodate a wide range of consumer preferences.
The online stores category is expected to have the quickest rate. Online soup ordering is convenient and fits well with customers' busy lifestyles. Because online platforms are always accessible, users can place orders whenever it's most convenient. Online retailers frequently offer special offers, discounts, and promotions. Soup manufacturers can use these marketing techniques to attract Internet customers and promote repeat business.
Soup Brands Country Insights
India's abundant and varied culinary traditions offer soup companies a wealth of opportunities to experiment with different tastes and combinations of ingredients and regional delicacies, meeting the needs of a diverse consumer base. Convenient and quick meal options, including soups, are becoming increasingly popular due to the fast-paced lives common in cities. Families and working people can find the ready-to-eat and simple-to-prepare soup variations convenient. Indian consumers are interested in experiencing delicious foods worldwide and are growing more daring in their culinary choices. Soup companies can exploit this trend by launching creative and global soup variants.
India Soup Brands Key Market Players & Competitive Insights
The market for Soup Brands is expected to grow even more due to major players in the industry making significant R&D investments to extend their lines of equipment. Alongside these significant market developments, market participants engage in various strategic actions to broaden their market reach. These activities include introducing new equipment types, contractual agreements, mergers and acquisitions, increased investments, and cooperation with other organizations. The Soup Brands sector needs to provide affordable products to grow and thrive in a more cutthroat and dynamic market.
Major India Soup Brands market players are attempting to increase market demand by investing in research and development operations, including Knorr, Campbell Soup Company, Heinz, Baxters Food Group, The Kraft Heinz Company, General Mills, and The Hain Celestial Group.
Key Companies in the India Soup Brands market include
India Soup Brands Market Segmentation
Soup Brands Type Outlook
Soup Brands Category Outlook
Soup Brands Packaging Outlook
Soup Brands Distribution Channel Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.81 Billion |
| Market Size 2023 | USD 0.87 Billion |
| Market Size 2032 | USD 1.62 Billion |
| Compound Annual Growth Rate (CAGR) | 8.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Category, Packaging, and Distribution Channel |
| Countries Covered | India |
| Key Companies Profiled | Knorr, Campbell Soup Company, Heinz, Baxters Food Group, The Kraft Heinz Company, General Mills, and The Hain Celestial Group |
| Key Market Opportunities | ·        Rising focus on convenience and ready-to-eat solutions ·        Digital marketing and e-commerce growth. |
| Key Market Dynamics | ·        Rising urbanization and busy lifestyles ·        Diverse culinary heritage |
Frequently Asked Questions (FAQ) :
The India Soup Brands market size was valued at USD 0.87 Billion in 2023.
The market is projected to grow at a CAGR of 8.00% during the forecast period, 2024-2032.
The key players in the market are Knorr, Campbell Soup Company, Heinz, Baxters Food Group, Kraft Heinz Company, General Mills, and The Hain Celestial Group.
The Canned/preserved soup category dominated the market in 2023.
The Vegetarian soup category had the largest share of the market.
Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
