Hi @vineetgala, could you please share links to any report for this?
SPC DRHP says caffeine market size is only ~30k tonnes (~300-500Mn). I think 30k is lower than actual. Total capacities in China are ~30k, there are some capacities in Germany as well. Plus, Aarti has 4k tonnes. Everything combined, it seems closer to 50-70k tonnes, 120k looks too high.
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