July 2006

In the backdrop of a rapidly rising global Nutraceuticals market, Frost & Sullivan organized an event aimed at identifying new opportunities in the Indian market, “Fortified Foods and Supplements: Opportunities in Emerging Markets”. The summit was organized on July 28th, 2006 at the JW Marriott, Mumbai.

The conference focused on the market for fortified foods and supplements in developed markets as well as opportunities and challenges for Indian manufacturers supplying to these markets. It also discussed the potential for manufacturers to introduce fortified food or dietary supplement concepts to the Indian market. Decision makers and industry experts from leading Indian and international food, beverage, nutritional supplements and ingredient manufacturers shared their knowledge and spearheaded the discussions on emerging opportunities. Frost & Sullivan also presented a paper on the latest developments in the global fortified food and supplements industry.

The one-day summit brought together luminaries from the international and Indian corporate world to discuss strategic issues affecting the fortified foods and supplements industry today, with special focus on Indian players and how they can leverage the opportunity. Mr. Anand Rangachary, Director, Frost & Sullivan welcomed the gathering and introduced the summit. “If you look at the global marketplace, consumers are making more informed choices and paying greater attention to preventive healthcare. Naturally, this has created a boom in the market for fortified foods and nutritional supplements. While the Indian market itself is coming of age, companies in India cannot afford to miss out on the global boom. This is the time to act, if we want a slice of this growing pie”, Mr. Rangachary added, explaining the rationale behind the summit.

The keynote address laying the foundation for the day’s events, focused on the emerging trends and opportunities in the Indian market for fortified foods and supplements was delivered by Dr. V. Prakash, Director, Central Food Technological Research Institute (CFTRI).

Mr. Tom Bruynel, Director, Asia Pacific, DSM Nutritional Products addressed the audience on Consumer Requirements and the Challenges for Asian suppliers in catering to the global market for nutritional supplements. He spoke about the industry in general, the key drivers, restraints and critical success factors. Specifically, he spoke on the global opportunities in Ayurveda and Nutrigenomics and how to use Marketing Channels effectively.

Mr. Sunil Bhaskaran, Managing Director, Indus Biotech spoke about the emerging trends and opportunities of the industry in developed markets. He also threw light upon the challenges in fortification and ingredients, and Indian ingredients in particular. He mentioned that while food fortification started as an answer to public health concerns due to the nutritional deficiency of the post-industrial processed food era, today it is as a customer driven industry, to address health, lifestyle, wellness preservation and performance needs across different age groups.

Mr. Barry Doesburg, Market Development Manager, Food, Purac Asia Pacific addressed the challenges of the Indian Mineral Fortification market and spoke about the imperatives needed to meet the same. He compared trends seen in different Asian countries in the past years, which brought out the reasons for the growth of the market. He addressed the concerns of the market from a legislative, economic, dietary and acceptance perspective.