Gaurav Kaushik, Meteoric Biopharmaceuticals, Health News, ET HealthWorld
Impact and challenges of Covid-19 on the food and food supplements market
Food and diet supplements have been in high demand, before and after Covid. The best part that we have seen these days, there is a lot of growing demand. There is a lot of talk about immunity and a lot of herbal products have been used. The challenges, if I have to talk about it, is first that we have to make the products cost-effectively, you know, because a lot of raw materials, a lot of ingredients are used to help build immunity and target many lifestyle-related illnesses. It must therefore be supported by a robust R&D system, such as when we consume something, whether it is based on plants, probiotics or enzymes which occupy the main segment of the food and diet supplements market. It should be stable, there should be a good process for handling the manufactured goods. And this product target and these delivery systems should be explored very well. There should be an appropriate clinic and R&D should be done on the product, on the target basis. There should be a compatibility study. Will it be compatible with certain enzymes, probiotics or neutrals? I think the big challenge is this, to make it profitable there should be proper research done on the formulation that people are working on. And there should be solid clinical trials and at least the results should be explored in a very scientific way.
Food and Food Supplements Market
The global food and dietary supplement market today stands at $ 141 billion, of which the United States is the largest contributor and this market is growing at the rate of 10% each year. The main consumer is the United States and the main contributor in terms of raw materials is the Chinese market. This segment is being explored at different levels nowadays in India and abroad as well, where people have become more health conscious, before and after the Covid scenario. And alongside a huge amount of herbal products, enzymatic probiotics have taken their own place. If we are talking about challenges, the number one challenge we face is outsourcing. A large part of the Indian market still depends on the Chinese market for the importation of certain classes of amino acids, vitamins, certain enzymes, in terms of production and also in terms of profitability. The second big challenge we face is with logistics and supply chain system, that is inside the country and also when we talk about imports and exports, it has to be fine. taken into account.
Food and diet supplements market: need for R&D and intellectual property
In R&D, if we talk about the way forward, I see that there are some very popular government and private institutions that are well recognized around the world. If they come up with certain programs or pre-screen or encourage or come up with ideas or even recognize certain studies or R&D being done by small businesses and SMEs, that will definitely help. My point of view would be that there should be a very simple process and that the various stakeholders in this industry should be well aware that the government and the nodal agencies and these research institutions, the universities are offering these programs. They should own a certain portion of the R&D that a company cannot do at its own expense and expense. I’m giving you a basic example of our business, as if we were developing a new strain of probiotics. So when we have to approach government agencies, different academic institutions, it is not going to be easy for me to establish that we are making a good innovation, it is really a new probiotic or microbes, it is going to take many years to less be approved by these establishments. So there should be a very simple process. There are a lot of companies in this ecosystem, they do good studies, R & D, they do drug discovery, it does not reach the right platform. It disappears between and halfway because there is no grip, apart from a good incentive, there is no accreditation, so a company like us, we are very keen to have at minus any accreditations by these institutions that “okay, this company is developing a very robust bioprocess product line or something that helps in the biopharmaceutical industry.” Meteoric: Initiatives and investments
We started in 2006 with the vision to work on many organic products and that too profitably. And to work on these formulations, which can be used and manipulated by multinationals, large and small companies. So we started with a strong portfolio of probiotic and nutraceutical enzymes and we have branched out into this area. Now we have come up with many different enzymatic processes, biological processes, many innovative probiotic solutions that we are bringing to this industry. And alongside that, we are investing heavily in discovering certain classes of bacteria and new probiotics that we are launching. And it’s based on a certain academic collaboration in which we work very closely with academic partners.
We have also identified certain classes of biological processes that can replace synthetic reactions to make a product more biologically available. Another strong line in which we work asâ¦, always biological processes and certain classes of nutraceutical articles, they are always based on products of animal origin. And when we talk about it you know a huge setup of certifications and guidelines that differ from country to country and if you have vegan products then it is easy to break some regulatory marks and it is very easy to s ‘install in terms of huge framework certifications are concerned. Our company is therefore working on a very scientifically proven alternative to enzymes of animal origin, in particular in VegPancreatin, which we have recently developed, it is a product of animal origin that pancreatin is used all over the world and we have developed a vegan source. Even in vaccines the protein is sometimes animal protein, we are also working on vegetable proteins, which can be easily used by this vaccine industry and currently the R&D phase is underway. We have already launched this vegan enzyme product and I hope the progress is very good and very soon we will also be offering plant-based proteins.