INDIA FOOD SWEETENER MARKET- GROWTH, TRENDS, FORECAST FOR THE PERIOD (2015-2020)
The global market food sweetener recorded $87.7 billion in 2015 and is estimated to increase at a compound annual growth rate (CAGR) of 4.5% and reach nearly $111 billion by 2020. In this market, sugar holds the majority share, comprising more than 80% share. The major constrain in the sugar market is the volatility in the prices, leading to market fluctuations. India is currently the world’s largest consumer of sugar with domestic consumption increasing more than 4 % annually. The sweetener market is segmented as sugar, High Intensity sweeteners and High fructose corn syrup. The market for high-intensity sweeteners is expected to reach nearly $2.2 billion in 2020 at a CAGR of 5.1%. This growth is due to increased awareness and usage of dietary foods. Another major driver is the growing population of overweight, obese, and diabetic patients which is causing a growth in this category. On an average 5 % of Indian population is obese but when seen in urban settings the numbers are incredibly high Although high intensity sweeteners (HIS) don’t constitute a major share, this is the fastest growing segment. This is attributed to raising health concerns among people. Aspartame and Sucralose are the most famous sweeteners in the HIS segment. Stevia is seeing a major demand in the natural sweeteners category. The major manufacturing centers such as China and India are seeing an increase in production capacity to meet the end user demands for usage in baked products, confectionaries and frozen desserts. In India, while only 2% Middle income group consume artificial sweeteners, it is 70% in the High Income group. India is determined to be a huge market as Stevia fits the cultural bill in the country, which already uses a lot of sugar in the food and beverages sector and also natural herbal extracts. The leading players in this segment are Cargill, Kerry Group, Stevia First Corporation, Hermes Sweeteners Ltd, and Tate and Lyle Plc. Companies are innovating in the Stevia derived products to meet the consumer demand for Non caloric natural sweeteners. Key Deliverables in the Study • Market analysis for the India Food sweetener Market, with region specific assessments and competition analysis on global and regional scales. • Market definition along with the identification of key drivers and restraints • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale • Extensively researched competitive landscape section with profiles of major companies along with their market shares • Identification and analysis of the macro and micro factors that affect the India Food sweetener Market on both global and regional scales • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market • Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.