Mumbai, Maharashtra, India
The 2007 Frost & Sullivan Market Penetration Leadership Award in the Indian Protein Ingredient Market was conferred to Mahaan Proteins Limited at a recently held "2007 Frost & Sullivan India Chemicals Materials and Foods Awards Banquet" in Mumbai. This award was in recognition of the outstanding work carried out by Mahaan towards introducing whey protein powders and concentrates in India, and gaining a significant market share in a traditionally dominated skimmed and whole milk powder industry.
According to Mamta Wadhwa, Director, Chemicals Materials and Foods Practice, Frost & Sullivan, South Asia and Middle East, "Mahaan, has led to a major breakthrough in the value-added dairy food segments in the Indian market with its complete range of whey powders and concentrates, with other companies following suit. Mahaan commands 80 percent plus market share in the Indian whey protein market. The Group has also set up Manufacturing Facilities in a 100% Excise Free Zone, meeting international standards for Contract Research and Manufacturing services (CRAMS) for the manufacturing of wide range of Nutraceuticals."
On receiving the award, Mr. R Goyal, Director, Mahaan Proteins Limited, said, "We are honoured to have received this recognition from Frost & Sullivan acknowledging the success achieved by Mahaan in the Indian Protein Ingredients market. This award is a great reiteration of the value that Mahaan brings to the market, through partnering with customers, creating innovative end-use applications, technological developments, new product applications and research studies."
The recipient of this award is evaluated on specific pre-defined criteria which include market share gain, increase in sales, and brand awareness efforts within the industry. This is accomplished through interviews with market participants, end-user studies, and extensive secondary research.
In addition to the above methodology, there are specific criteria used to determine final competitor rankings within the industry. These include competitive pricing strategies, strong sales force strategy, ability to establish brand awareness through promotional activities and advertising, strategic alliances that expand customer base and finally product innovation which also includes developing new technologies.
The protein ingredients market globally has seen accelerated growth owing to its functionalities like emulsifying, water binding, viscosity enhancing, foaming properties apart from its usual nutritional profile. The Indian Protein Ingredients Market is broadly classified into -Soya protein, Whey protein and Wheat Gluten. Frost & Sullivan's comprehensive analysis indicates that the total market for Indian protein ingredients was valued at INR 279.2 million representing market volumes of 1650 MT in the year 2006. The soya protein market contributes 72.0 percent of the total revenues generated, the whey protein market contributes 23.0 percent and the wheat gluten market contributes only 5.0 percent of the total revenues. The estimated growth rate was 5.6 percent per annum in the year 2006.
The soya and whey proteins would witness good growth in nutritional and functional applications across various end use segments including pharma formulations, tube feeding formulas, infant formulas, functional beverages and fortified foodstuffs.
About Frost and Sullivan:
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About Mahaan
Mahaan Proteins Ltd. is the only composite dairy ingredient plant in India that manufactures edible casein, pharmaceutical and edible grade lactose, whey protein concentrate 70% and pure ghee.
Mahaan Proteins Ltd. has been set up with foreign technical collaboration and has specialized in manufacturing dairy ingredients and is currently developing caseinates and functional WPCs.It has also added a brand new facility for spray drying specialized instantly soluble powders for its buyers engaged in the nutraceuctical industry.
http://www.mahaanfoods.com/mahaangroup.html
Source: Business Wire (Business Wire India)
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