BakeryBiz, Mar-Apr, 2021
Shikha Garg, Director, Sugar Shine India/Magic Colours India, speaks to BakeryBiz about the unique offerings of her organisation, market potential and the factors that would impact the future for the bakery industry.
You have been associated with Magic Colours for long, an industry leader in the production of Colours / Sprinkles for the global market. Against that association in the background, where does Sugar Shine India feature in the Indian market. Please tell us about the journey, and what necessitated this foray, the company background, technical strengths etc.?
Magic colours has been the market leader when it comes to colours and sugar paste variants for the baking industry. Magic Colours is often associated with premium quality and taste over the years. As our Indian markets are more inclined towards the bakery industry, continuous evolution and more dependency on MAKE IN INDIA products led to the nativity of SUGAR SHINE INDIA. Product innovation, and formulation as per markets demand is the key factor to its genesis.
Why has the market been so reliant on international players, less on domestic players? What has been the market challenges and how do you intend to position your company in such a scenario?
Bakery industry was not much a part of the Indian cuisine and culture till the last decade. We were mainly dependant on international companies for the manufacturing, process, ingredient and import like factors not evolved in India until now. Since many companies have started manufacturing the products within the borders that were earlier imported, the issue of innovation as per demand, quality, pricing has been resolved. And we being one of them, hold a strong ground.
The Indian baking scenario has seen a substantial change over the past decade, with many brands getting created and established players creating a niche for themselves. What do you feel is the future of the industry and expected growth?
As one of the largest segments in the food processing sector in India, the bakery industry is all geared up for huge opportunities for growth, innovation, and job generation. Despite certain turmoil in 2020, the Indian bakery industry is positive with a great projected market value in future. Alongside these predictions, India occupies a unique position in the market as innovation continues to grow in importance on a global scale. Indian traditions by the side, and the access to interesting and unusual combinations, will allow them to continue to excel and innovate in this market.
What are the new and expected trends which will be seen in the segment in times to come?
Bakery industry in India is one of the most robust industries. Major contributors to this growth are the growing youth segment and working women population, besides rising incomes and purchasing power. Driven by consumer preferences and patisseries’ relentless desire to experiment, the bakery industry is continuously evolving. When a new flavour or trend is well received, it never signals an end to experimenting. Industry veterans continue
exploring and experimenting because consumers expect to be treated to novel treats regularly. Demand for innovative treats makes the bakery industry among the most competitive in the world.
Are we going to see any new and innovative product range being introduced by your organisation?
Innovative products are what gets us closer to our clients. Thus, the year will definitely witness continues developments and product range that are clients have been waiting for.
Does the Indian market fare at par with the international counterparts in terms of the availability of innovative bakery products? What’s the hindrance?
The stringent norms laid by FSSAI that need to be implemented, has raised the bar for all Indian companies placing them at par with the international players. In addition, the recent wave starting 2020 of MAKE IN INDIA has taken care of the logistics part, completely eliminating the issue of availability.
What do you think is the market size for Sprinkles in India? Which category is the biggest consumer of the same viz. hotels, bakeries, home bakers, etc.?
The Sprinkles market has had a substantial growth since the last couple of decades. And it’s expected to grow even more with in the current scenario where we have a wave of trends flooding in the industry. With the variations available in sprinkles, each of the verticals have turned out to be heavy
users of these tiny melodies.
The Indian bakery segment has become extremely competitive with bakery products being seen as widely available. How competitive is the Indian bakery products manufacturing segment? Do you all interact on a platform that helps in the exchange of ideas?
Definitely, a big yes when it comes to being competitive. Most of the companies are now client oriented and believe in designing and manufacturing products depending on the needs which raises the bar of competition. Trade fairs, exhibitions are our biggest platforms where we get to exchange ideas and also learn from our fellow competitors.
What do you feel about the bakery exhibition scenario in India? Which are the areas which can be focused on?
These national fairs are a boon to all the players in the industry. These shows are carefully designed and stand tall for its international styling, comprehensiveness, and vastness of the industry.
The COVID-19 impact has been felt in many ways across the globe. How would you rate the impact of the scenario on your business on a scale of 1 to 10? What specific reason would you attribute your rating to?
The impact could be rated to a 6 considering the fact that the novel coronavirus/COVID-19 pandemic has significantly impacted all businesses across the globe. A mix effect with sudden surge during lockdown and a slowdown later leave that rating in place for 2020-21.
What has been your business response to the market impact? How has the business been impacted for you, in percentage terms?
The future usually arrives in an orderly fashion. But for business and retail, a year like no other meant that the future showed up early, and in an ugly mood. But due to the advantage of product availability within the borders the impact pinch was bearable.
