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Indian Industrial Enzymes Market
Frost & Sullivan, Nov 2010, Pages: 138
This Frost & Sullivan research service titled Indian Industrial Enzymes Market provides the market dynamics, trends, and viable growth strategies. In this research, Frost & Sullivan's expert analysts thoroughly examine the following enzymes markets: pharmaceutical, detergent, textile, and others.
Market Overview
Increasing Product Sophistication Facilitates Sustainable Growth of the Indian Industrial Enzymes Market
The Indian industrial enzymes market is making the most of the demand for easier formulations that help offer increased functional benefits and multi-application profiles. The influx of international companies has upped the quality requirements of local suppliers and importers, thereby providing consumers with a wider variety of inventive products to choose from. As end users are willing to pay a premium for value-added products, the onus is on manufacturers to continue promoting the reliability and efficacy of their new-age enzymes and position them as strategic application and processing aids. In the wake of increased environment consciousness and regulations, manufacturers have realized that eco-friendly chemical alternatives are the way forward, especially if they wish to penetrate untapped and niche areas such as the laundry bars market. “Industrial enzyme manufacturers have to aggressively maintain their first-mover advantage, given the large potential of untapped markets,' says the analyst of this research. 'They also need to realize that consumers are likely to purchase ecological products only if they are cost effective and easy to use.'
Demonstrating superior enzyme potential through new formulations can open up a huge niche market in the rural sectors and present manufacturers with a first-to-market advantage and an opportunity to distinguish their products in the market. Reacting to the need for diversification, manufacturers launched a slew of new enzyme solutions for the Indian detergent market. However, despite these product launches, the lack of government legislation and controls to ensure enzyme usage, unlike in the case of chemicals, will continue to hinder this market. The industrial enzymes market is associated with high capital and operational costs. Investors are apprehensive about funding R&D activities, as the developed products’ market performance cannot be pre-evaluated. Enzyme companies are also required to invest heavily in customer service and technical support, which puts a heavy strain on their budgets. In such a scenario, large manufacturers rule the roost, making it a challenge to maintain a healthy competitive environment.
Participants also find it difficult to strategize for the Indian industrial enzymes market because it is at various stages of growth, ranging from penetration to product development. For instance, the pharmaceutical enzymes segment is relatively nascent and is the focus of a small group of specialized manufacturers. This market requires additional development before it can create a centralized presence and witness stable growth. Meanwhile, the textile and leather enzymes segments are mature, while the detergent enzymes segment is in the growth stage. 'Product development and diversification into new end-application within the industry is a viable strategy to sustain revenue growth in this dynamic market,' notes the analyst. 'Manufacturers need to maintain focus on key purchasing criteria such as the high product standards, while simultaneously decreasing the cost of production and retaining customers.'
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Detergent enzymes
- Textile enzymes
- Pharmaceutical enzymes
- Other enzymes
Technologies
The following technologies are covered in this research:
- Sub- micron technology
- Nano technology
- Green processing
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