Snapshots of Food Industry News
Protein supplement added milk market growing in India
Indian dairy firms are looking to sell protein supplements added milk after seeing their profit margins rise from value-added dairy products. Amul Dairy and Mumbai based, Parag Milk Foods already has a presence in the sector and Prabhat Dairy will be making a foray into protein supplement added milk. These dairy firms would also like to cash in on the growing health awareness among consumers and therefore they are importing protein supplements. Since protein supplements attract high import duties of around 30 percent, which adds to costs, some private dairy firms are likely to set up facilities for the production of protein supplements like whey, a by-product of cheese. With whey being produced domestically the costs will decline and will propel growth.
Amul is scaling up production in the protein supplements added milk segment and will be coming up with new variants. Amul also sells whey under the brand Amul PRO. Seeing that there is a demand for whey they have increased production of their two whey plants from 1,200 to 2,000 tonnes. Parag will not only be producing whey but are planning to sell their whey products in the form of branded health supplements, foods, and beverages. In 2015 Parag Milk Foods had sales of about Rs.225.08 million from whey products alone, which is two percent of their total revenues. A number of FMCG firms as well as companies producing health supplements also mix whey in their products. According to IMARC data, the whey protein market will increase to $143 million in sales by 2020 a rise of 22 percent from 2014.
Wendy’s adds Gravylicious Rice Bowls to its star menu
The world’s largest burger chain, Wendy’s has rolled out its star menu that contains Gravylicious rice bowls and desserts. The rice bowls are in two variants vegetarian and non-vegetarian. The rice bowls have ingredients like basmati rice, cardamoms, cloves and cinnamon and are served with masala gravy. For toppings they have chopped cutlets, tomatoes, onions and baby potatoes rubbed with spices. Wendy’s have added Rich Chocolate Brownie, Apple Pie and Masala Cake in the desserts category. The rice bowls and desserts will increase their appeal as an all-day, everyday restaurant. This menu will appeal to all for all occasions at a QRS price. Wendy’s is providing an experience that is QRS + because the consumer gets good quality ingredients, fresh, made-to-order food served in real crockery. Wendy’s have also tied up with Zomato, Swiggy, and FoodPanda so the menu is accessible online too. Wendy’s India was launched in 2015 and they have two restaurants one at DLF Mall Noida and the other at DLF Cyber Hub.
Patanjali sets a production goal of Rs 1 lakh crore by 2020
According to Baba Ramdev, it is not impossible to scale up production to Rs.1lakh crore by 2020. This goal can be justified because of the fact that Patanjali Ayurved has been registering 100 percent growth for the last four years. Patanjali is banking on investments in food and herbal parks across India to reach that production figure. The company has already begun construction of its food park in Maharashtra and has laid the foundation for another in Uttar Pradesh. Patanjali is also exploring further land in north coastal Andhra Pradesh though it has already procured land in Nellore district of the state. Patanjali has invested about Rs.1200 crore in a food park in Assam and the government has given it the status of a mega industry while the AP government has offered incentives over and above those given by central government. Madhya Pradesh and Jammu and Kashmir are other states where Patanjali is setting up food parks.
Patanjali has become a formidable force in the FMCG sector with a turnover of Rs.5000 crore this March. Besides India, the company is scaling up business in Nepal and has announced a new venture under the name of Patanjali Ayurved Pvt Ltd Nepal. Patanjali’s aggressive investments in food parks, Ayurveda research, and its ‘swadeshi’ bent are factors that could see the company achieve its goal.
PureCircle introduces stevia ingredient for beverages
PureCircle has launched a stevia ingredient called Sigma- Beverage that is meant specifically for beverage formulations. Sigma-Beverage delivers unmatched taste as compared to other stevia ingredients in the market. It functions similarly to sugar but has immensely reduced calories. Formulating beverages with Sigma-Beverage can create beverage solutions consumers will love as it will meet both taste and reduced calories. Beverage formulations face a challenge because of the sweetness. However, Sigma-Beverage has been made by selecting steviol glycosides that provide a very clean, sugar-like taste with a reduced linger and so it works well for beverages. It also cuts beverage development time by 30-50 percent. PureCircle’s portfolio contains Sigma-Tea, Sigma-Dairy and now Sigma-Beverage. All these have been developed through PureCircle’s predictive modeling technology.
Restaurants in 7 cities to be honored with Burrp! Certificates
Burrp! is back and will honor 300 restaurants in seven cities which include Mumbai, Delhi, Pune, Bengaluru, Kolkata, Hyderabad, and Chennai. Burrp! certificates will be given in 55 categories and the voting will be carried out online. It was in 2009 that Burrp! first recognized noteworthy restaurants and honored them. This year is the 10th anniversary of their Burrp! certificates they would like to present the honor again as food has been evolving. With the reintroduction of the Burrp! certificates users will find it easy to discover great places that provide excellent cuisine. Burrp! Certificates will be awarded for best restaurant in a city in various categories, best cuisine, best dish etc. Burrp! has put together a jury that comprises renowned bloggers and influencers in a city. Users have already begun to vote on the Burrp website and mobile app for which the lines are open till 31 December 2016. The winners will be decided by votes of the users as well as jury.