|
|
 |
|
Viewing report
|
|
|
|
Strategic Assessment of the Indian Flavors Market: A White Paper
Frost & Sullivan, Feb 2011, Pages: 74
The concept of flavours has been existing worldwide over more than a decade. But very recently the flavours, herbal extracts formulation has been undergoing innovative changes. Especially in the regions of Asia Pacific, where the taste of continental specificity is high. Even though the innovation in the regions of north America is not as high as Asia, but still they are also observing various changes in terms of conventional and non conventional variants. The various categories of flavours considered for our research study in this particular region are dairy, confectionery, bakery, savoury and processed food and beverages
Research Overview
This Frost & Sullivan research service titled Strategic Assessment of Indian Flavors outlines the findings for the food flavors market in India while analyzing products, supplies, competitors and pricing. The study also provides the market forecasts, drivers and restraints. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: dairy flavors, bakery flavors, confectionery flavors, savory and processed food flavors and beverage flavors.
Market Overview
Innovative Variants Will Drive the Indian Food Flavors Market
The Indian food flavors market is set to grow, despite product saturation, as opportunities are aplenty. Urbanization, expansion of disposable income, growing popularity of convenience goods coupled with growing health concerns as well as awareness among governments and consumers to address specific health and nutritional needs are strongly fuelling the food and beverage markets, which, in turn, is fuelling the food flavors market. There is demand for new variants especially in the health foods and beverage categories that keeps the market growing. This trend is expected to continue for the next few years. “The future of the Indian flavors market rests on the launch of novel foods and beverages constituting health and functional ingredients,” notes the analyst of this research service. “Innovation in flavor variants of key producers, enhancement of sales force capabilities and technological improvement are the critical factors for the success of a flavor industry.”
Despite good growth even during the economic downturn, the Indian flavor market is still struggling for a greater market. One of the key challenges it faces is the effect of income distribution – the low-income strata is still unable to afford premium food products that use such food additives. “The usage of novel flavors is quite high in the health foods and beverages segment, which is considered a premium products segment,” explains the analyst. “Since premium ingredients are used in manufacturing of such products, they are priced quite high to keep up the margin.” Moreover, revised food regulations are expected to restrict the technical and market advancement of such products. The regulations given by the regulatory bodies at present are not specific to flavor; therefore, it does not hinder the market growth. However, revision of the regulations for using flavors in foodstuffs is likely to make them stringent enough to affect the market growth.
Markets like the malted health beverages and sports and energy drinks are still at a nascent stage of growth. Strategies like increased market penetration and product development are recommended to enhance growth. Flavor manufacturers are continuously expected to invest progressively in R&D to develop new flavorings to meet the rapidly changing needs of food and beverage industries. Technological improvement is another critical factor for the success of a flavoring company. New technologies that improve the application of flavorings, along with new product development, are the key to maintain a competitive edge over the other market participants as the competition is high. “Indian flavor manufacturers need to focus on the pricing of their products and innovation to remain a step ahead of market trends,” says the analyst. “They are expected to formulate more non-traditional, non seasonal flavors that are also compatible with the Indian palate.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Dairy Flavors Bakery Flavors
- Confectionery Flavors
- Savory and Processed Food Flavors
- Beverage Flavors
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
