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Strategic Analysis of Enzymes Application in Indian Food and Beverages Sector
Frost & Sullivan, Sep 2009, Pages: 167
The food and beverages enzymes market is in the growing stage of its product lifecycle. Improved R&D, end-user awareness about the role of enzymes in enhancing taste, quality, convenience, and finally, the natural way of synthesising enzymes are some of the key factors leading to the increasing market for food and beverages enzymes.
Research Overview
Frost & Sullivan’s research service titled Strategic Analysis of Enzymes Application in Indian Food and Beverages Sector provides industry trends, Market Engineering measurements, market forecasts, and competitive analysis of enzymes application in the Indian food and beverages sector. In this research, Frost & Sullivan's expert analysts thoroughly examine the following enzyme applications: dairy, bakery, distillation, brewing, fruit juice and wine, and starch and sugar.
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Market Overview
Growing Indian Food and Beverage Enzymes Market is Boosted by Rising Internal Demand and Wider Scope of Applications
The growing food and beverage enzymes market in India is driven by increasing end-user awareness, huge market potential for existing products, and unexplored application segments. However, enzyme technology requires considerable investments and as most of the products supplied are imported, enzyme suppliers should boost their investments in product development. This will enable them to match the quality of imported products, exploit market potential in existing application segments, and launch products specific to Indian customers in the emerging application segments.
'Increased internal demand and wider scope for enzymes applications in the food and beverage sector are the major drivers of growth for the food and beverage enzymes market in India,' say the analysts of this research. End users are increasingly using enzymes in the manufacture of their products due to their enhanced functionality and ability to add value to the end product. Several emerging applications for enzymes in the food and beverage sector are estimated to further fuel the growth of the fast-developing enzymes market in India.
Enzyme Manufacturers to Strengthen their Market Share
However, the Indian market is mainly import dominated, with about 75 percent of the market occupied by products supplied by multinational enzyme manufacturers. Additionally, enzyme technology requires high investments that are unaffordable for smaller manufacturers. Only the larger enzymes manufacturers can invest in R&D and survive in this market. Smaller companies find it difficult to invest in the manufacturing of enzymes as well as R&D. 'New products also come with the risk of a lack of economic viability,' explains the analyst. 'Therefore, the product must have good growth in terms of volume and better pricing to justify its development costs.'
The key competitive factors in this market are product quality, prices, economies of scale in enzymes production, R&D capabilities, customer support, and a well-developed distribution network. With the Indian food processing industry expanding, enzyme manufacturers need to strengthen their market share by exploiting the market potential in established application segments. 'At the same time, manufacturers should identify unexplored application segments in the food and beverage sector and provide them with good quality products specific to the Indian market,' concludes the analyst. 'This can be achieved by increasing their investments in new product development and helping the end-users with good customer support.'
Application Sectors
Expert Frost & Sullivan analysts thoroughly examine the following application sectors in this research:
By Enzymes:
- Dairy
- Bakery
- Distillation
- Brewing
- Fruit juice and wine
- Starch and sugar
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