Executive Summary

Nov 2019
PROSPECTS
Most Thai consumers have a preference for fresh soup, above packaged varieties

Fresh soup is still preferred to packaged variants in Thailand, whether that be shelf stable soup, dehydrated soup or instant soup. With numerous street stalls, restaurants and cafés offering ethnic Thai, Asian and Western soup varieties, consumers have fewer purchase occasions for packaged soups.

Soup players are creating offerings specifically for the elderly consumer

The number of elderly people in Thailand is increasing in line with the ageing population. As a response, many players have started to develop soup products specially catering for the elderly, by incorporating ingredients which are easy to chew and digest.

Asian-style soup is becoming more widely accepted

Despite the strong influence of Western cuisine on Thai food culture, the majority of locals still mainly prefer ethnic dishes for their regular meals. Consumers are only slowly adapting to instant soup, but are tending to favour Asian-style over Western-style offerings.

COMPETITIVE LANDSCAPE
Imported brands offer more premium products to led soup

Shelf stable soup has long been present in the Thai market. The most prominent brand is Campbell’s, thanks primarily to an extensive product range and strong shelf presence.

Kewpie offers new flavours to health-conscious consumers

Kewpie launched a range of new shelf stable soups with no sugar or additives. Flavours in the new line range from potato cream to Japanese pumpkin and are mainly targeted at health-conscious consumers, sold through modern trade to target higher-end consumers.

Small and niche local players threaten larger manufacturers

Small and niche local players such as Lady Anna and Pola Pola, continue to gain share from top players like Campbell’s and Tastee. Positioned as premium and sold through upscale supermarkets like Villa Market, and Honestbee online, these brands are challenging incumbents with their healthy positioning and innovative flavours.

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Soup in Thailand

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Overview

Discover the latest market trends and uncover sources of future market growth for the Soup industry in Thailand with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Soup industry in Thailand, our research will save you time and money while empowering you to make informed, profitable decisions.

The Soup in Thailand market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Soup in Thailand?
  • What are the major brands in Thailand?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than eating at home?
  • Are consumers moving from traditionally canned and dehydrated variants to more innovative chilled, frozen and UHT formats?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Packaged Food market research database.

Soup in Thailand - Category analysis

HEADLINES

PROSPECTS

Most Thai consumers have a preference for fresh soup, above packaged varieties
Soup players are creating offerings specifically for the elderly consumer
Asian-style soup is becoming more widely accepted

COMPETITIVE LANDSCAPE

Imported brands offer more premium products to led soup
Kewpie offers new flavours to health-conscious consumers
Small and niche local players threaten larger manufacturers

CATEGORY DATA

Table 1 Sales of Soup by Category: Volume 2014-2019
Table 2 Sales of Soup by Category: Value 2014-2019
Table 3 Sales of Soup by Category: % Volume Growth 2014-2019
Table 4 Sales of Soup by Category: % Value Growth 2014-2019
Table 5 Sales of Soup by Leading Flavours: Rankings 2014-2019
Table 6 NBO Company Shares of Soup: % Value 2015-2019
Table 7 LBN Brand Shares of Soup: % Value 2016-2019
Table 8 Distribution of Soup by Format: % Value 2014-2019
Table 9 Forecast Sales of Soup by Category: Volume 2019-2024
Table 10 Forecast Sales of Soup by Category: Value 2019-2024
Table 11 Forecast Sales of Soup by Category: % Volume Growth 2019-2024
Table 12 Forecast Sales of Soup by Category: % Value Growth 2019-2024

Packaged Food in Thailand - Industry Overview

EXECUTIVE SUMMARY

Packaged food records growth in 2019, but government policies put pressure on certain players
Healthy living and social media both impact packaged food sales in Thailand
Small and niche brands benefit from adapting quickly to consumer tastes
The expansion into the online marketplace will drive growth for packaged food
The forecast for packaged food remains positive, and competition will continue to be fierce

FOODSERVICE

Sales to Foodservice
Foodservice operators favour local manufacturers who offer more affordable products
Growth in packaged food volume sales to foodservice operators set to continue
The rise of food franchises and casual-dining results in positive value sales of packaged food to foodservice
Consumer Foodservice
Third-party online food delivery services are becoming increasingly popular
Social media influencers have an impact on the foodservice choices consumers make
Consumers are increasingly visiting buffet restaurants, to experience a variety of cuisines
Category Data
Table 13 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 14 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 15 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 16 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 17 Sales of Packaged Food by Category: Volume 2014-2019
Table 18 Sales of Packaged Food by Category: Value 2014-2019
Table 19 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 20 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 21 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 23 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 24 Penetration of Private Label by Category: % Value 2014-2019
Table 25 Distribution of Packaged Food by Format: % Value 2014-2019
Table 26 Distribution of Packaged Food by Format and Category: % Value 2019
Table 27 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 29 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 30 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

DEFINITIONS

SOURCES

Summary 1 Research Sources