Page 27 - Bullion World Issue 9 January 2022
P. 27
Bullion World | Issue 09 | January 2022
SILVER
STORY Silver Foils (VARAK)
VARAK
Demand for Edible silver foils – 250 to 275 MT/ Annum. Market is
estimated to grow at 3% per annum. Industry size – Approximately INR
3000 crore
Industry structure: Highly unorganized.
Manufacturing process: Handmade (Traditional) and Machine made.
The market is witnessing dramatic shift from traditional mode given
stringent FSSAI standards on quality and manufacturing practices and
bulk industrial consumers (Ayurvedic and tobacco) preferring quality
product with standardized manufacturing process
Category % share
Machine made 25%
Hand made 50%
Aluminum foils/ paper 10%
Restricted market ( percentage of population who consume
sweets without silver foils 15%
due to making traditional making process of silver leaves(
considering them as non veg)
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