Concentrates in India

PROSPECTS

Out of sync with prevailing demand trends

Concentrates faces increasing competition from an expanding range of rival products that are more compatible with prevailing demand trends. The increase in consumer health-consciousness is proving to be a key factor in shifting demand away from concentrates for a number of reasons.

Manufacturers working to modernise offer

Concentrates manufacturers are working to tailor their offers to prevailing demand trends by introducing products with real fruit content and positioning their products as additional sources of vitamins and minerals.

Ayurveda-influenced concentrates gaining in popularity

Concentrates manufacturers, including both existing and new players, are focusing on launching products with real fruit content. Companies that offer products influenced by traditional Ayurvedic medicine, such as Patanjali and Sri Sri Tattva, have introduced concentrates containing amla, rose, basil leaves, bottle gourd and aloe vera, which are gaining popularity in India.

COMPETITIVE LANDSCAPE

New local flavours expected to contribute to growth

Hindustan Unilever, Hamdard Wakf Laboratories and Pinoma Industries jointly dominate concentrates, holding a combined value share of more than 70% in 2019. Local players, including Haldirams, Vision Agro, Bharat Essene and Swaroop Foods, are expected to drive significant growth through the introduction of traditional flavours, such as rose-flavoured concentrates and concentrates flavoured with dry fruit.

Targeting rural areas and moving beyond concentrates

The leading players in concentrates are working to target rural areas, especially as growth in cities is threatened by products that are more compatible with the lifestyles of modern urban consumers. Indeed, the challenges faced by concentrates is encouraging Pinoma Industries, the largest player in the category in volume terms, to diversify into other categories, including honey, which it entered with the Rasna Native Haat brand.

Ayurveda-based products to grow in prominence

Ayurveda-based liquid and powdered concentrates from companies such as Patanjali and Sri Sri Tattva are expected to build a growing presence in concentrates in India during the forecast period. Many Indian consumers consider Ayurveda-based products to be naturally healthy and to provide functional benefits.

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