Market analysis of canned soups in India
The relevance of research
Recently, along with the trend of healthy eating, there has been a trend of increasing popularity of fast food products, which entails the emergence of fast food products, including canned soups. Canned Ready Soup is the first dish that does not require cooking.
Purpose of the study
Analysis of the state of the market for canned soups, assessment of the market size, analysis of competitors, as well as identification of factors affecting the market of canned soups
Content
Part 1. An Overview of the Indian Canned Soup Market
1.1. Main characteristics of the market
1.2. Dynamics of the market volume of canned soups 2014-2018 Potential market capacity
1.3. Assessment of factors affecting the market
1.4. Canned Soup Market Life Cycle Stage
1.5. Competition from substitute products
Part 2. Competitive Analysis in the Canned Soup Market
2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players
Part 3. Analysis of the production of canned soups
3.1. Volume and dynamics of domestic production of canned soups
3.2. Share of exports in the production of canned soups
3.3. Segmentation of canned soup production by regions
3.3.1. Production by Union Territories
3.3.2. Production by states of India
Part 4. Analysis of foreign trade supplies of canned soups
4.1. Volume and dynamics of imports of canned soups
4.2. Import structure
4.3. The volume and dynamics of exports of canned soups
Part 5. Analysis of the consumption of canned soups
5.1. Dynamics of consumption of canned soups
5.2. Analysis of the results of tenders for the purchase
Part 6. Price Analysis
6.1. Average producer prices by union territories
6.2. Average consumer prices by states in India
Part 7. Assessment of factors of investment attractiveness of the market
Part 8. Forecast for the development of the canned soup market until 2023
Part 9. Recommendations and conclusions
Research excerpt
Part 1. An Overview of the Indian Canned Soup Market
1.1. Main characteristics of the market
Recently, along with the trend of healthy eating, there has been a trend of growing popularity of fast food products, which is associated with the acceleration of the rhythm of life, lack of free time.
The development of the trend entails the emergence and penetration into the Indian market of various types of fast food products, including canned soups.
Canned ready-made soup is the first dish that does not require cooking. The preservation process preserves the taste and consumer qualities of food products.
It is worth noting that on sale you can find both ready-to-eat canned soup and a semi-finished product, which can significantly reduce the time and financial costs of the process of preparing first courses. Such canned soups are the basis for first courses and are popular among the population of India.
As a rule, such semi-finished products contain vegetables, meat or fish ingredients, to which it is enough to add pre-prepared broth and heat up for the dish to be fully cooked. Modern manufacturers of canned soups can offer a fairly wide range of products. Among the most common types of canned soups are the following: pickle, chicken soup with vermicelli, borscht, cabbage soup, as well as hodgepodge, beetroot soup, potato or bean soup, kharcho soup, cheese and chili soup.
According to the OKVED-2 classifier, the production of canned soups is accounted for by code: 10.89.1, which is included in the following groups:
section C - MANUFACTURING
class 10 - Food production
group 10.89 - Manufacture of other food products n.e.c.
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According to the TNVED code, exports and imports of canned soups are accounted for under code 210410 “Ready-made soups and broths, and preparations for their preparation”.
Diagram 1. The ratio of imported and domestic products in the market of canned soups,%
1.2. Dynamics of the market volume of canned soups 2014-2018 Potential market capacity
Consider the dynamics of the market volume of canned soups in India in 2014-2018.
Diagram 2. Dynamics of the market volume of canned soups 2014 - 2018
The market of canned soups during the period under review reveals multidirectional dynamics: …
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At the same time, a growing proportion of the population is too busy to cook soups on their own, and prefers either ready-made meals or semi-finished products.
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1.3. Assessment of factors affecting the market
Let's consider the main factors influencing the market and, accordingly, the demand in the canned soup market in India.
Macroeconomic factors
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Social factors
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Social factors also include behavioral factors that have a multidirectional impact on the market of canned soups: on the one hand, the acceleration of the pace of life, the need to reduce time for housekeeping. On the other hand, the culinary traditions of India: the priority of home cooking, distrust of canned products, especially in opaque containers.
Industry Factors
The canned soup industry is, on the one hand, a part of the canning industry, and on the other hand, a part of the dry soup industry.
Diagram 8. Dynamics of the volume of production of canned meat in India in 2014-2018
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Technological factors
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Political and legal
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STEP analysis is used to assess the influence of the entire set of factors.
Table 1. STEP Analysis of Factors Affecting the Canned Soup Market in India
In general, the impact of macro factors on the canned soup market in India is currently assessed by GidMarket as multidirectional: …
1.4. Canned Soup Market Life Cycle Stage
In the theory and practice of marketing, there are 4 stages of the life cycle of an industry: the stage of formation, the stage of growth, the stage of maturity, the stage of market aging.
The main characteristics of the canned soup industry in India, which determine the stage of the life cycle, are presented in the table.
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1.5. Competition from substitute products
The main substitute products for canned soups are:
Homemade soups.
Dry soups.
As stated earlier, the food culture in India is associated with the priority of home-cooked food.
Dry soups (instant soups)
In the Indian soup market in recent years, an ambiguous situation has developed without a pronounced trend due to the instability of the main market indicators:
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Part 2. Competitive Analysis in the Canned Soup Market
2.1. Major players in the market
A feature of the market of canned soups is a high degree of market concentration: the products of 5 brands are presented, the factories of the companies are located in …
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2.2. Market shares of the largest competitors
The share of … cannery in 2018 accounted for … of the total production volume in 2018, in second place – …
It should be noted that the production of canned soups is uneven over the years, both in India as a whole and in the context of individual players; accordingly, the distribution of shares of the main market participants may change.
2.3. Profiles of major players
Leading companies have been operating on the market for a long time and are the largest canning holdings.
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The following is a brief description of the largest players in the canned soup market in India.
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Part 3. Analysis of the production of canned soups
3.1. Volume and dynamics of domestic production of canned soups
The production of canned soups (thin soups and broths) in India is uneven, characterized by the absence of a pronounced trend.
Diagram 12. Dynamics of production volumes of canned soups in India for 2014 - 2018
The largest increase in production over the period under review was observed in …
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3.3. Segmentation of canned soup production by regions
3.3.1. Production by Union Territories
The bulk of production comes from…
Table 5. Dynamics of the production of canned soups in India by union territories
3.3.2. Production by states of India
The distribution of production volume across the states of India, as well as across the union territories, is associated with the location of large players.
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Part 4. Analysis of foreign trade supplies of canned soups
4.1. Volume and dynamics of imports of canned soups
The volume of imports of canned soups in India as a whole for the period from 2014 to 2018 …
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In value terms, imports show similar dynamics: …
Diagram 16. Volume and dynamics of imports of canned soups in monetary terms
4.2. Import structure
The structure of imports by country is related to the key suppliers of soups: …
4.3. The volume and dynamics of exports of canned soups
The production of canned soups is focused on the domestic market, exports are fragmented and do not affect the volume of soup consumption in India.
Part 5. Analysis of the consumption of canned soups
5.1. Dynamics of consumption of canned soups
The dynamics of consumption of canned soups in monetary terms is influenced by both the market volume in physical terms and price changes. …
5.2. Analysis of the results of tenders for the purchase
For the period from 2017 to 2019, tenders were announced for the purchase of a total of … tons of canned soups in the amount of … million Rs. The average purchase price was … Rs./kg.
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Tenders for the purchase of canned soups are carried out by state institutions, mainly in …
Part 6. Price Analysis
6.1. Average producer prices by union territories
Producer prices are influenced by both location and brand awareness. In addition, prices are uneven throughout the months of the year.
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6.2. Average consumer prices by states in India
The level of consumer prices for canned soups depends on the manufacturer and on the state in which the products are sold.
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The highest price level is observed in …
Part 7. Assessment of factors of investment attractiveness of the market
The investment attractiveness of the market is assessed based on an analysis of a combination of factors: sales potential, demand potential, barriers, main trends, competitiveness.
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Part 8. Forecast for the development of the canned soup market until 2023
We will analyze the market based on methods based on identifying trends over time, adjusted for expert opinion in the industry.
When compiling the forecast, the influence of the following factors was taken into account:
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Part 9. Recommendations and conclusions
The situation in the market
The market of canned soups during the period under review reveals multidirectional dynamics: …
Macroeconomic factors affecting the market in question.
In general, the impact of macro factors on the canned soup market in India is currently assessed by GidMarket as multidirectional: …
Conclusions about the prospects for the development of enterprises operating in this market.
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Recommendations for entering the market - development in the market
In the current market conditions, for successful development-entering the market, it is recommended:
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Diagrams
Diagram 1. The ratio of imported and domestic products in the market of canned soups, %
Diagram 2. Dynamics of the market volume of canned soups 2014 - 2018
Diagram 3. Revenue (net) from the sale of canned soups in the union territories for 2014 - 2018, %
Diagram 4. Dynamics of India's GDP, in 2012-2018, % to the previous year
Diagram 5. Monthly dynamics of the US dollar against the rupee, 2014-2018, Rs. for 1 US dollar
Diagram 6. Population change in India, 2012-2018
Diagram 7. Dynamics of real income of the population of India, 2012-2018
Diagram 8. Dynamics of the volume of production of canned meat in India in 2014-2018
Diagram 9. Dynamics of the volume of production of canned meat in India in 2014-2018
Diagram 10. Dynamics of the volume of production of canned meat in India in 2014-2018
Diagram 11. Shares of the largest competitors in the canned soup market in 2018
Diagram 12. Dynamics of production volumes of canned soups in India for 2014 - 2018
Diagram 13. Dynamics of the total revenue of the largest producers (TOP-5) of canned soups in India, 2014-2018
Diagram 14. The share of exports in production for 2014 - 2018
Diagram 15. Volume and dynamics of imports of canned soups in physical terms
Diagram 16. The volume and dynamics of imports of canned soups in monetary terms
Diagram 17. Forecast of market size in 2019 - 2023
Tables
Table 1. STEP Analysis of Factors Affecting the Canned Soup Market in India
Table 2. Life cycle stage of canned soup market in India
Table 3. The main companies participating in the market of canned soups in 2018
Table 4. Profiles of companies participating in the canned soup market in 2018
Table 5. Dynamics of canned soup production in India by union territories
Table 6. Production volume of canned soups by states of India in 2018
Table 7. Structure of imports of canned soups by importing countries in 2018
Table 8. The results of tenders for the purchase of canned soups in India in 2017-2019
Table 9. Average producer prices for canned soups in the Union Territories of India in January-November
Table 10. Average retail prices for canned soups by manufacturer in India as of December 2019, Rs./can
Table 11. Average consumer prices for canned soups by state in India
Table 12. Assessment of factors of investment attractiveness of the market of canned soups
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