Market Assessment Study for Premix Segment in India
● Client is one of the largest and oldest manufacturers for biochemical products and bakery ingredient products in Japan.
● Within Bio Chemicals, the company offers enzymes, co-enzymes (cofactors), substrates, antigens, antibodies, recombinant enzymes, research animal feeds, cytokines etc.
● Under Bakery Ingredients, the company offers bakers’ yeast, bread improvers, bakery fillings etc.
● Objectives of the engagement were:
- They wish to conduct a comprehensive study on business environment such as market size, growth rate, profitability, customer needs and competitiveness of competitors to evaluate entry into Indian premix market
● Determined market sizes and CAGR for cake premixes, bread premixes and coating systems using Primary Research with the consumers, distributors and manufacturers across different geographies and secondary research
● Triangulated findings and estimated the market size for cake premixes, bread premixes and coating systems and delivered it in a tabulated form
● Benchmarking product portfolio of Global and Indian companies selling/manufacturing premixes across the geographies under consideration
The deliverable included
● Market sizes and insights from the primary research for cake premixes, bread premixes and coating systems
● Key market dynamics and trends wrt MT (sales condition of frozen food), QSR (no. of outlets and growth trends), seafood and livestock processor( major processing area, domestic consumption, export volume and destinations)
● Adoption rate and application of cake premixes, bread premixes and coating systems across different user segments, i.e., bakery, HoReCa and food processors
● Key purchase criteria for selection of a particular premix supplier and switching criteria