Mumbai, Maharashtra, India
The global market for fortified foods and nutritional supplements is heating up, with more and more marketers jumping into the fray. To provide a snapshot view of the emerging opportunities, Frost & Sullivan, a global growth consulting company, will be presenting a concise one-day summit," Fortified Foods & Supplements: Opportunities in Emerging Markets" on 28th July, 2006 at Hotel J.W.Mariott in Mumbai.
While the Indian market for processed foods has really taken off only in the last decade, Indian manufacturers have had no hesitation in jumping onto the health bandwagon, addressing both the domestic and export markets. Fortified Foods, Supplements and Health Ingredients, are all witnessing tremendous competition parallel to a rise in consumer demand. The winners in this race will be those who can foresee the market as it grows, and understand what it is that the increasingly choosy consumers want. This event aims to provide such insights to mainstream food manufacturers who want to take advantage of these emerging segments, fortified food or nutritional supplement manufacturers and manufacturers of nutritional ingredients for the same.
"Traditionally Indians have continued to rely on home cooking where fresh foods dominate and many ingredients are bought loose. Processed and ready-to-eat food and beverages are still the new entrants in this market. But, as the disposable incomes rise, at least in urban areas, more and more consumers are gravitating towards store bought foods. Still, there is mounting concern about the nutritional content of such foods, and skepticism whether such foods can match the balanced nutritional properties of the traditional diet. Savvy marketers are now using nutritional ingredients as a selling plank, convincing consumers of the uniqueness as well as high health content of their foods", says Aparna Singh, Program Manager, Chemicals, Materials & Foods Practice, Frost & Sullivan,
Historically, vitamins and minerals have been the only ingredients that have found acceptance in this market. Even in this arena, pharmaceuticals and recently the animal feed industry have been the largest users. Non-prescriptive usage of supplements is still low. These are however challenges that the industry needs to rise above. Newer segments are emerging in the market, which companies need to take advantage of, and sometimes create! Soya fortification, for example, is becoming a buzzword, as are fortified and flavored milk beverages. "Companies need to stay abreast of these trends, and rather than reinventing the wheel, also learn from the experiences of others, particularly from more developed markets", adds Ms. Singh.
This infact is the focus of the event - identifying opportunities and success strategies, both in developed markets and for the emerging Indian market. Apart from Industry experts from leading Indian and International food, beverage, nutritional supplement and ingredient companies, who will speak on these opportunities, Frost & Sullivan will also be presenting a research paper on the latest developments in the fortified food and supplements industry. Some of the topics that will be addressed as part of the session are Opportunity Analysis in the Indian Fortified Food and Supplement Market, Learning's from Fortified Food Segment Analysis in developed markets and the Growth Opportunities and Challenges in the market for Phytonutrients. For complete agenda and event details log on to www.frost.com/ffs
About Frost & Sullivan: Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 45 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com.
Shwetha Thomas, Frost & Sullivan, +91 (022) 40013429 sthomas@frost.com
Surbhi Dedhia, Frost & Sullivan, +91 (022) 40013431 sdedhia@frost.com
Source: Frost & Sullivan (Business Wire India)
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