Sweetwell, a Belgium-based player, hopes to sweeten the sugar substitute market here by launching its zero calorie dextrose-free products in Delhi and Mumbai soon.

Sweetwell, which is on a global rollout, has partnered with local firm Chandak Brothers to form a joint venture — Sweetwell India Pvt Ltd — to launch its sweeteners. Mr Carlos Mateo Peralata, CEO, Sweetwell, said the sugar substitute product could be used for cooking too.

Dr Danny Deschuttere, Director, Sweetwell, said the Sweetwell product, developed over six years, was made out of natural ingredients extracted from corn, beet and chicory. He claimed that Sweetwell does not contain dextrose and had a relatively lower glycemic index, as testified by the Reading Scientific Services Ltd of the Lord Zuckerman Research Centre United Kingdom.

In India, the product has the approval of the Food Safety and Standards Authority of India, said Mr Deepak Chandak, CEO of its India operations. The joint venture is investing about Rs 60 crore in the India operations, which will look at manufacturing the product locally a year later. Sweetwell India is also in talks with a big business group to leverage their distribution network to market its product in the country, Mr Chandak said.

In the first year, the company is targeting a turnover of Rs 12-15 crore.

The market for sweeteners in India is growing between 20-25 per cent annually on rising demand for sugar substitutes from health-conscious consumers.

The current market size for such products is estimated at around Rs 125 crore. vishwa@thehindu.co.in

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