India: Saccharin Market 2024

Saccharin Market Size in India

In 2021, the Indian saccharin market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, faced a precipitous curtailment. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Saccharin Production in India

In value terms, saccharin production amounted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. Over the period under review, production attained the peak level in 2021 and is likely to see gradual growth in the near future.

Saccharin Exports

Exports from India

In 2021, the amount of saccharin and its salts exported from India reached X tons, with an increase of 13% on 2020. In general, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 67% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, saccharin exports rose significantly to $X in 2021. Over the period under review, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 84% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons) was the main destination for saccharin exports from India, accounting for a 28% share of total exports. Moreover, saccharin exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), twofold. Switzerland (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+63.3% per year) and Switzerland (+90.3% per year).

In value terms, the United States ($X), Japan ($X) and Thailand ($X) were the largest markets for saccharin exported from India worldwide, together comprising 49% of total exports.

Among the main countries of destination, Japan, with a CAGR of +61.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average saccharin export price stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 10%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Saccharin Imports

Imports into India

For the fourth year in a row, India recorded decline in supplies from abroad of saccharin and its salts, which decreased by -4% to X tons in 2021. In general, imports recorded a deep downturn. The pace of growth was the most pronounced in 2017 when imports increased by 109% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, saccharin imports rose remarkably to $X in 2021. Overall, imports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 55% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of saccharin to India, with a 62% share of total imports. Moreover, saccharin imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+4.4% per year) and South Korea (+58.2% per year).

In value terms, China ($X) constituted the largest supplier of saccharin and its salts to India, comprising 49% of total imports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total imports. It was followed by Indonesia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+47.8% per year) and Indonesia (+8.1% per year).

Import Prices by Country

The average saccharin import price stood at $X per ton in 2021, surging by 10% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, saccharin import price increased by +14.4% against 2019 indices. The growth pace was the most rapid in 2014 when the average import price increased by 28% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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