In 2023, India imported 6.2 million kilograms of communion wafers, rice paper, and bakers' wares. The forecast for 2024 to 2028 shows a gradual increase in import volume, starting at 6.356 million kilograms in 2024 and reaching 7.2 million kilograms in 2028. Year-on-year growth is steady, with an increase of about 3.4% from 2024 to 2025 and continuing this trend through 2028. The compound annual growth rate (CAGR) for this period stands at approximately 3.1%, indicating a stable upward trend.
Future trends to watch for:
- Rising demand for imported bakery products driven by changing consumer preferences and increasing urbanization.
- Potential impacts of trade policies and tariffs affecting import volumes.
- Growth in local production capabilities could moderate the rate of import growth.
- Emerging trends in gluten-free and specialty diet products may influence import dynamics.