New Delhi

India’s insurgent consumer brands collectively generated about USD 7.5 billion in revenue in FY25, though maintaining strong, long-term growth remains a key challenge, according to a report by Bain & Company.

The report defines insurgent brands as companies established after 2007 that have raised at least USD 3 million in funding since 2015.

The FY25 Insurgex Index includes 39 emerging brands such as Storia Foods, Akshayakalpa, Lahori Zeera, Farmley, Minimalist, Dot & Key, The Souled Store, Drools, California Burrito, and Ultrahuman.

To be included in the index, companies must report revenues exceeding Rs 100 crore, achieve a three-year compound annual growth rate (CAGR) above 30 per cent, and maintain capital efficiency of at least 1.5 times.

According to the study, these insurgent brands reached USD 7.5 billion in combined revenue in FY25, representing a 3.75-fold rise compared to FY20. They are expanding at a pace 1.5 to 5 times faster than their respective industry categories and are rapidly shaping new consumer segments.

The report further stated that insurgent brands have consistently outperformed traditional players, growing 3.3 times faster than the broader market over the past five years. The analysis covered more than 200 companies across sectors including food and beverages, beauty and personal care, apparel, lifestyle, home and kitchen, jewellery, and travel and hospitality.

It also noted that the median insurgent brand recorded around USD 13 million in revenue, with a 41 per cent three-year CAGR and capital efficiency of 1.0 times.

In FY25 alone, 19 new brands entered the Insurgex Index, contributing nearly USD 600 million in combined revenue. With these additions, the FY23–FY25 cohort now comprises 60 brands.

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However, the report highlighted scaling challenges, noting that only 22 per cent of consumer insurgent brands with revenues above Rs 100 crore in FY25 were able to cross the Rs 500 crore mark, underscoring the difficulty of sustaining breakout growth.