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Inherent Strengths of Enzymes As Processing Aids Sustain Demand in An Increasingly Competitive Market - New analysis from Frost & Sullivan, Strategic Analysis of the Australian Market for Enzymes for Food Applications, finds that enzyme suppliers for food and beverage applications in Australia generated revenues totalling AU$25 m in 2006 and this is expecte
Inherent Strengths of Enzymes As Processing Aids Sustain Demand in An Increasingly Competitive Market

 

NewswireToday - /newswire/ - Sydney, Australia, 2007/12/20 - New analysis from Frost & Sullivan, Strategic Analysis of the Australian Market for Enzymes for Food Applications, finds that enzyme suppliers for food and beverage applications in Australia generated revenues totalling AU$25 m in 2006 and this is expecte.

   
 
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While the performance benefits of enzymes are increasingly being acknowledged by food product manufacturers, enzyme suppliers still have to contend with price pressure and intense competition while at the same time delivering quality customised solutions and service.

New analysis from Frost & Sullivan (food.frost.com), Strategic Analysis of the Australian Market for Enzymes for Food Applications, finds that enzyme suppliers for food and beverage applications in Australia generated revenues totalling AU$25 million in 2006 and this is expected to increase by a CAGR of 3.5 per cent to reach around AU$32 million by 2013.

There are several macro consumer trends that are exerting a positive impact on the application sectors where enzymes are used; thus driving demand for such enzymes. For example, the use of microbial rennet has been gaining momentum as it allows product suppliers to penetrate vegetarian and kosher markets. Also, the growing popularity of convenience foods, which include frozen and microwave-able products, is likely to increase the demand for baking enzymes that are used to manufacture these products. Finally, increased demand for low-lactose products has led to increased demand for lactase enzymes in the dairy sector.

Says Mr. Ivan Fernandez, consulting manager at Frost & Sullivan Australia, "the consistent performance of enzymes as processing aids has helped reinforce their relevance to food product manufacturers and sustain demand for enzyme solutions."

"The commercial benefits offered by enzymes to food product manufacturers include easier and faster processing, higher specificity of action, improved yield, reduced wastage, improved stability and handling, reduction in the formation of undesirable by-products of the process, as well as greater flexibility and higher final product quality."

The fact that enzymes are biodegradable also makes them more attractive than conventional chemicals alternatives.

However, with many enzymes for food applications reaching commodity status and with intense competition among enzyme suppliers, there is considerable pressure to bring down prices. For instance, the average prices of dairy enzymes in Australia declined by 10 per cent over the 18 months to October 2007. This trend limits margin growth and profitability as well as overall revenue growth, especially when there are large customers purchasing large volumes, who then wield considerable bargaining power.

"Added to that, the lack of genuine product innovation hinders price and revenue growth. This is due to the fact that enzymes require long product development cycles and customers appear satisfied with existing enzyme offerings. Finally, the volume of enzymes used is directly impacted by the state of the major end-user application sectors. Any significant decline in end-user product volumes results in a corresponding decline in the volume of enzymes used", adds Mr. Fernandez.

In this competitive market, enzyme suppliers sustain their competitive advantage through aggressive pricing, offering a wide product portfolio, delivering customized solutions and effective technical support.

Strategic Analysis of the Australian Market for Enzymes for Food Applications is part of the Food & Beverages Growth Partnership Service program, which also includes research in the following markets: Strategic Analysis of Chinese Food Enzymes Market, Advances in Food Biotechnology, Strategic Assessment of the European Bakery Industry, Advances in Dairy Foods Processing and Strategic Analysis of the Australian and New Zealand Nutraceuticals Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of this report, then send an email to Sharmin Jassal, Corporate Communications, at sharmin.jassal[.]frost.com, with your full name, company name, title, telephone number, fax number, and email address. Upon receipt of the above information, an overview will be sent to you by email.

About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

 
 
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Inherent Strengths of Enzymes As Processing Aids Sustain Demand in An Increasingly Competitive Market

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Frost & Sullivan |
Publisher Contact: Sharmin Jassal 
+61 2 8247 8900 sharmin.jassal[.]frost.com
 
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