India: Sugars Market 2024

Sugars Market Size in India

The Indian sugars market soared to $X in 2021, jumping by 24% against the previous year. In general, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.8% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Sugars Production in India

In value terms, sugars production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -16.9% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 32% against the previous year. Sugars production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Sugars Exports

Exports from India

In 2021, exports of sugars, sugar ethers and salts from India skyrocketed to X tons, increasing by 119% against the year before. In general, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sugars exports surged to $X in 2021. Over the period under review, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Nepal (X tons), the United States (X tons) and Canada (X tons) were the main destinations of sugars exports from India, together accounting for 43% of total exports. Vietnam, South Korea, Singapore, Indonesia and the Netherlands lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +136.6%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Indonesia ($X) and the United States ($X) appeared to be the largest markets for sugars exported from India worldwide, together comprising 51% of total exports. These countries were followed by South Korea, Nepal, Canada, Vietnam and Singapore, which together accounted for a further 18%.

South Korea, with a CAGR of +125.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sugars export price amounted to $X per ton, shrinking by -16.9% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 172% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Nepal ($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 the Netherlands (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sugars Imports

Imports into India

In 2021, the amount of sugars, sugar ethers and salts imported into India skyrocketed to X tons, with an increase of 81% compared with the previous year's figure. In general, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sugars imports soared to $X in 2021. Over the period under review, imports showed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Austria (X tons), China (X tons) and the United States (X tons) were the main suppliers of sugars imports to India, together accounting for 45% of total imports. Singapore, Ireland, Germany, France, Italy, Thailand, Portugal, Denmark, Belgium and South Africa lagged somewhat behind, together comprising a further 49%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +422.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Singapore ($X) and China ($X) constituted the largest sugars suppliers to India, together comprising 43% of total imports. These countries were followed by Austria, Belgium, France, Ireland, Germany, Italy, Portugal, Denmark, Thailand and South Africa, which together accounted for a further 49%.

In terms of the main suppliers, Portugal, with a CAGR of +431.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sugars import price stood at $X per ton in 2021, jumping by 72% against the previous year. Overall, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugars import price increased by +89.9% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Belgium ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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