Soup Holdings Ltd plans to enter the smart kitchen sector by partnering with Xi Xiang Technology, a Singapore-based company controlled by Shanghai Xixiang Yixiang E-Commerce Co. Ltd.

The joint venture will offer AI-powered solutions and smart kitchen equipment to food and beverage businesses in Singapore, focusing on schools, enterprises, and government agencies.

Soup will hold a 51% stake in the new entity, while Xi Xiang Technology will own 49%.

The joint venture is expected to have a paid-up capital of up to S$2 million (US$1.6 million).

Founded in 1991, Soup is known for its herbal soups and home-style dishes.

Mr. Wong, a company spokesperson, cited intense competition, manpower shortages, and rising costs as reasons for this diversification.

🔗 Source: Soup

🧠 Food for thought

1️⃣ Smart kitchen adoption accelerating in Asia-Pacific as market expands rapidly

Soup’s timing aligns with significant market momentum in smart kitchen technology, particularly in their target region.

The global smart kitchen market is projected to grow from $21.8 billion in 2025 to $37.2 billion by 2030, with Asia-Pacific identified as the fastest-growing region1.

This regional growth pattern suggests strong demand for the type of AI-powered kitchen solutions that Soup plans to offer through their joint venture.

The market expansion is being driven by rapid adoption of connected cooking platforms and the integration of AI technologies that provide predictive cooking capabilities and inventory tracking1.

For a company with over three decades of experience in Asian food preparation, entering this market during its acceleration phase positions Soup to capitalize on growing demand from institutional clients like schools and government agencies.

2️⃣ Labor shortages create compelling economics for kitchen automation investment

The manpower challenges Soup aims to address reflect broader industry pressures that make automation financially attractive for F&B businesses.