Growing use of branded sugar in various applications to drive Branded Sugar market of India in the forecast period.
According to TechSci research report on, “India Branded Sugar Market – By Region, Competition Forecast & Opportunities, FY2017 – FY2027”, India Branded Sugar market was valued over USD 727.36 Million in FY2021 and the market is anticipated to grow at impressive CAGR of 8.59% through FY2027. General opinion that branded sugar is more hygiene when compared with loose sugar sold in market, is contributing to the growing demand of branded sugar in India. Growing application of sugar in beverage preparation, increasing disposable income and aggressive strategies employed by sugar manufacturers are positively influencing the growth of the market.
In order to increase the consumer base, some companies are focusing on providing quick delivery services, especially in major metro cities. Companies such as JioMart, Grofers, etc., deliver the everyday-need consumer products within 2 hours of order received. The number of orders is increasing tremendously after these companies introduced this format. Moreover, in India, various companies are adopting hyperlocal business models, under which they are collaborating with local retailers in the respective areas.
Demand for sulphur-free sugar is on rise as it healthier and safer over its counterparts. Sulphur-free sugar is obtained by cleaning sugar with phosphoric acid and it is environmentally sustainable. COVID-19 did not have major impact on the branded sugar market of the country however, demand for sugar increased as lockdown scenario gave birth to a concern towards packaged culture, which boosted branded sugar sales in India even more. On the supply side, sugar manufacturers were permitted to continue production with special emphasis on safety and hygiene. However, constraints related to deliveries of cane, packaging material, lime were there.
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The export opportunities for India have increased significantly over the last few years. Also, India is the most benefitted country in terms of exports, after Brazil got hit by adverse climatic conditions in August 2021, due to which the crop production declined. The global sugar market is facing a deficit due to low production in Brazil, and therefore, Indian sugar is in high demand.
Fears of lower supply have also pushed the sugar prices. The sugar-consuming countries have been heavily reliant on available stocks during the year to avoid paying high shipping and sugar values, adding that those stocks are currently at critically low levels. However, they are now shifting to India for the sugar supply.
For instance, Indian sugar has entered the Egyptian market recently, and at least 15,000 tonnes have been exported to Egypt in the past month by trading agencies. India’s S-30 white sugar with 100 ICUMSA (a norm for sugar standards globally) has been shipped to Cairo in 2021. These factors are anticipated to fuel the growth of the India branded sugar market.
India branded sugar market is segmented based on type, distribution channel, regional distribution, and competitive landscape. Based on the type, market is further fragmented into White Crystal Sugar, Brown Sugar, Sugar Lite, Sachets- White & Brown Sugar and Others (Colored Sugar, Sugar Cubes, etc.). White crystal sugar led the market in FY2021 with market share of 76.19% and the segment is projected to continue dominance through FY2027 as it is the most common preferred sugar used in household applications.
Based on distribution channel, the market is segmented into general trade, modern trade and online. The e-commerce sales channel is expected to exhibit the fastest growth among the other distribution channels in the India branded sugar market. The segment is projected to grow with a CAGR of 9.52% in the forecast period. The online retail market offers attractive options to companies due to low operating costs. Moreover, the advent of online channels has allowed consumers to easily check out and compare a wide range of products on a single platform without having to spend a lot of time in stores.
Key market players operating in the branded sugar market of India include:
- Shree Renuka Sugars Ltd
- Dhampur Sugar Mills Ltd
- Uttam Sugar Mills Limited (Uttam Sugar)
- Triveni Engineering & Industries Ltd. (Shagun)
- Simbhaoli Sugars Limited
- E.I.D. – Parry (India) Limited
- Mawana Foods Pvt. Ltd.
- DCM Shriram Industries Ltd.
- Dhanraj Sugars Private Limited
- SNJ Group
- Dwarikesh Sugar Industries Limited
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“In order to increase brand recognition and establish a strong consumer franchise, the branded sugar market players are investing heavily in media, enhancing their advertising strategies to reach the consumer base and create awareness of branded sugar products among them. Moreover, the branded sugar companies are also focusing on launching campaigns in order to promote the benefits offered by branded sugar.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Branded Sugar Market By Type (White Crystal Sugar, Brown Sugar, Sugar Lite, Sachets- White & Brown Sugar and Others (Colored Sugar, Sugar Cubes, etc.)), By Distribution Channel (General Trade, Modern Trade, Online), By Region, Competition, Forecast & Opportunities, FY2017-FY2027” has evaluated the future growth potential of India Branded Sugar market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Branded Sugar market.
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