The import of salts and esters of citric acid to India is projected to steadily increase, showing a consistent upward trajectory from 2024 to 2028. In 2023, the import volume stood at 4.2 million kilograms. Between 2024 and 2028, the compound annual growth rate (CAGR) is approximately 0.82%. The year-on-year growth is modest yet stable, revealing a gradually increasing demand for these imports over the next five years.
Future trends to watch for:
- Potential impacts of domestic production capabilities on import needs and trends.
- Global supply chain changes and geopolitical factors influencing trade policies.
- Technological advancements and innovations in the food and pharmaceutical industries driving demand.
- Regulatory changes affecting import duties and standards.