How has the business of enzymes grown over the years?  

The enzyme business is growing at 30-35% every it consists of 40-45% of the total revenue of the company. The rapid and consistent development in the pharmaceutical, food and dietary supplement, beverages and focus on speciality enzyme demand further strengthens our enzyme and enzymatic preparations demand going forward. 

In the nutraceutical space what are the innovations that you have undertaken to gain market share in the developed markets? 

The nutraceutical market in India is expected to grow to US $ 18 trillion in the years to come. Dietary supplements and especially preventive health care have become the keyspace in our nutraceutical innovations. The company is growing fast with the scientific adoption of botanicals, speciality enzymes, probiotics, prebiotics which have already set the groundwork for further innovations. The company is actively working on the formulation and concept-based ideas for easier intake of nutraceuticals by the way of our developed gummies, probiotics sachets for instant consumption, effervescent, and various enzyme and probiotic cultures.  

Could you explain your expansion plans in the USA?  

Our initial plan of expansion in the USA is to eye an effective supply chain and distribution of our strong enzyme and probiotics and bio-actives (biosimilars ). We will also understand and develop a concept-based formulation for the USA market, especially at a later stage. 

What has been your experience and success in the South-East Asian markets, especially South Korea and Japan? 

Our experience and success in South East Asian market is to completely understand, adopt and comply with every aspect of the regulatory band and requirements of these markets. Elementing technology, stability of our ingredients, understanding the use and application of this industry, and further customizing our ingredients in a cost-effective manner is the key to success. 

You plan to focus on probiotics and biological-based vitamins. How much do you plan to earmark for R & D? 

R&D initiatives in probiotics and biological vitamins start right from developing them till exploring the therapeutical application of these products. Right now we are investing 10 to 12% of our revenue which we are set to increase 

Contract manufacturing is a business opportunity for companies. How do you plan to take advantage of this trend? 

The pandemic forced several pharmaceutical companies to lean towards contract manufacturing to continue providing quality products to their customers in a cost-effective manner. The rapid growth of contract manufacturing can be gauged from the fact that it grew from US$ 935 billion in 2017 to at least US$ 1.2 trillion by 2021. Even as the world gradually marches towards normalcy, many pharma companies are continuing their reliance on contract manufacturing so they can focus on other key aspects of their business. Such an approach helps them increase their overall productivity and efficiency and enhance their margins. Partnering with local manufacturers can also help address speed-to-market objectives. 

 Could you take us through your animal health care portfolio and what are the growth prospects? 

The Indian veterinary healthcare market is projected to register a CAGR of 7.98% during the forecast period, with a revenue of approximately USD 1,083.13 million in 2020 and is expected to reach USD 1,697.15 million by 2026, The species share in the Animal Healthcare market is 51% of livestock, 35% of poultry, 8% of companion animals, 5% of Aqua and rest 1% for other remaining animals, while the global veterinary market is growing at a CAGR of 3.5% and is expected to reach USD 43.7 Billion by 2027.

The numbers clearly show that the Indian market is growing at double the global rate which is quite promising. The animal health industry is witnessing a rapid transformation with the inclusion of more nutrition-based products, health care supplements, and discarding a wide range of antibiotics and synthetic APIs. The yield in terms of milk, meat, egg, etc., has been growing considerably & backed by different milk unions, research institutes, and academics. Growing research and improving purchasing capabilities of the right product for livestock are major growth impactors.