Market Size of India Iodine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Iodine Market Analysis
The iodine market in India is expected to register a CAGR of over 6.5% during the forecast period.
The outbreak of the COVID-19 pandemic resulted in a lack of labor, supply chain disruptions, and a general lack of demand across various sectors resulting in a slowdown in industrial activity across the country. The iodine market growth was hindered during this period with a sharp drop in manufacturing output. However, with the pharmaceutical industry registering strong growth even through the pandemic and the resumption of manufacturing activities across the nation, the demand for iodine is expected to strengthen during the forecast period.
- The rising demand for iodine in medical applications and the growth of the pharmaceutical industry is expected to drive the demand for the iodine market in the region.
- Similarly, growing meat and dairy consumption are expected to drive animal husbandry, further strengthening the demand for iodine used as additives in animal feed.
- Moreover, the growing need for water conservation and the resultant rise in industrial and municipal water treatment activities is anticipated to create future opportunities for the iodine market.
- On the flip side, health-related side-effects of iodine consumption could likely hamper market demand.
