India: Glucose Market 2024

Glucose Market Size in India

In 2021, the Indian glucose market increased by 5.4% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Glucose Production in India

In value terms, glucose production amounted to less than $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern.

Glucose Exports

Exports from India

In 2021, approx. X tons of glucose and glucose syrup were exported from India; picking up by 122% against the previous year. Overall, exports showed a notable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glucose exports surged to $X in 2021. Over the period under review, exports continue to indicate a measured increase. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for glucose exports from India, accounting for a 32% share of total exports. Moreover, glucose exports to Indonesia exceeded the volume sent to the second major destination, the Philippines (X tons), fourfold. The third position in this ranking was taken by Vietnam (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia totaled +74.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+256.1% per year) and Vietnam (+15.2% per year).

In value terms, Indonesia ($X) remains the key foreign market for glucose and glucose syrup exports from India, comprising 27% of total exports. The second position in the ranking was held by the Philippines ($X), with an 8.7% share of total exports. It was followed by Vietnam, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia totaled +70.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+218.4% per year) and Vietnam (+15.8% per year).

Export Prices by Country

In 2021, the average glucose export price amounted to $X per ton, surging by 3.8% against the previous year. Over the period under review, the export price, however, recorded a mild setback. The pace of growth was the most pronounced in 2016 an increase of 89%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Thailand ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to Sudan ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+0.5%), while the prices for the other major destinations experienced a decline.

Glucose Imports

Imports into India

In 2021, overseas purchases of glucose and glucose syrup decreased by -14% to X tons, falling for the third consecutive year after two years of growth. In general, imports continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 209% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, glucose imports fell to $X in 2021. Over the period under review, imports recorded a perceptible setback. The most prominent rate of growth was recorded in 2013 when imports increased by 62%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Belgium (X tons) and France (X tons) were the main suppliers of glucose imports to India, together accounting for 88% of total imports. The United States, Vietnam and the Netherlands lagged somewhat behind, together accounting for a further 9.3%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +209.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glucose suppliers to India were Belgium ($X), the United States ($X) and China ($X), together accounting for 78% of total imports. France, the Netherlands and Vietnam lagged somewhat behind, together comprising a further 7.9%.

Vietnam, with a CAGR of +227.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glucose import price stood at $X per ton in 2021, surging by 5.5% against the previous year. Over the period under review, the import price, however, saw a slight downturn. The most prominent rate of growth was recorded in 2020 an increase of 139%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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