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India's Specialty Food Market Booms to $13.6B
23 Oct
Summary
- India's specialty food ingredients market to reach $13.62 billion by 2033.
- Gujarat Ambuja Exports expands maize processing and fermentation.
- Camlin Fine Sciences focuses on antioxidants and functional ingredients.
The Indian specialty food ingredients market is projected to reach $13.62 billion by 2033, exhibiting a 6.2% CAGR. This growth presents significant opportunities for suppliers of quality-enhancing ingredients.
Gujarat Ambuja Exports (GAEL) is investing in expanding its maize processing and fermentation capacities. A new corn wet-milling plant in Hubli, Karnataka, is slated for commissioning by Q4 FY29, alongside increased overall corn wet-milling capacity by 2030.
Camlin Fine Sciences (CFSL) is bolstering its presence with antioxidants like Xtendra and natural alternatives under NaSure. The company is also developing functional ingredients through its Ezential platform and recent acquisition, Vinpai.
Both companies face challenges in converting technical capabilities into consistent earnings. GAEL's valuation hinges on capital allocation for new facilities, while CFSL's depends on integrating its diverse portfolio for sustained performance.
Key dates include the proposed Hubli plant commissioning by Q4 FY29 and GAEL's target to raise overall corn wet-milling capacity by 2030. These strategic moves aim to capitalize on the burgeoning demand in India's food ingredient sector.
