The data indicates that the sugar cane processing industry in India has had significant fluctuations from 2014 to 2023. The processing volume hit a low in 2017 with 250.22 million metric tons and surged to 321.52 million metric tons in 2018. Between 2019 and 2023, the volume showed a modest and steady increase. In 2023, sugar cane processing volume stood at 306.11 million metric tons, marking a year-on-year growth of 0.21%. The recent 5-year CAGR stands at -0.98%, which suggests a slight decline in the growth rate. Forecasts for 2024 onwards project a steady increase in the processing volume, with a 5-year CAGR of 0.16%, reflecting a forecasted growth rate of 0.79%.
Future trends to watch for include:
- Technological advancements in processing that could enhance efficiency and output.
- Policy changes related to agriculture and sugar cane production by the Indian government.
- Climate change impacts on sugar cane cultivation and yield.
- Global market demand and price fluctuations affecting the industry dynamics.
