India Food Sweetener Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Food Sweetener Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India food sweetner market is forecasted to grow at a CAGR of 1.1% during the forecast period of (2019-2024):

Key Highlights

• India is the second-largest producer and the largest consumer of sugar in the world. There is a rising prevalence of diabetes, obesity, and cardiac diseases, due to high consumption of sugar-based products. This, in turn, is augmenting the demand for sweeteners.

• Artificial sweeteners are experiencing high demand due to changed regulatory environment and permission for using sweeteners in dairy products, biscuits, and confectionery.

• In India, in 2016, the overall production of sugarcane declined by 12% over the previous year. The Indian Sugar Mill Association (ISMA) reported that a weak monsoon in sugarcane-growing states, like Maharashtra and Karnataka, is the primary reason for decline in production volumes.

Key Market TrendsGrowing Diabetic Population

Currently, more than 62 million Indians are affected by diabetes, which is more than 7.1% of the adult population. The average age on onset is 42.5 years. Furthermore, nearly one million Indians die due to diabetes every year. In terms of Gender, Females account for more than half of the diabetic population in India. People in the age group of 40-74 have shown high risk of diabetes in India. Consumers have adopted artificial sweeteners due to increasing awareness on risks associated with diabetes. The India diabetic population is expected to reach 100 million in the next five years, which is driving the consumers’ preference toward sugar substitutes

Fastest Growing Sweetener Segment: Stevia

Stevia is a 100% natural and zero-calorie sweetener. The growing awareness about the health benefits of stevia over sugar has led to an increase in its demand. Other factors influencing the demand for stevia are lifestyle changes, government initiatives on reducing the sugar intake and the need to combat health problems like obesity and diabetes. In 2013, the government approved the production of stevia in the Indian subcontinent. Jaggery is gaining traction in the Indian market, arguably due to the fact that it is perceived to be a healthier alternative to sugar. Stevia is used in convenience foods, baked foods, sugar confectionery items, and beverages, among others. Beverages account for the majority share in the market. Thus, Stevia is estimated to be the fastest growing sweetener segment over the forecast period.

Competitive Landscape

Companies operating in the sweetener market have adapted strategies for market evolution, which primarily target their investments, in order to gain higher market share. The market is highly fragmented, with many Indian players trying to gain a competitive advantage through various factors, like innovation, design, etc. Rapid expansion of the Indian players is considered to be the key market strategy. The sugar substitutes market is dominated by International players, such as Cargill, ADM, and Tate and Lyle.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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