Industry the world over is aiming for top spot with best of modernisation.
Innovation is the key to excellence in the present competitive environment. The more innovative are the concepts, better are the chances to achieve the desired target. Every industry of today’s world is fighting for the top spot with the best of their innovation. The driving force of every player in the pharmaceutical industry is also the ‘innovation’ strategy. Every product by a pharmaceutical player has to be different and unique. Hence, product innovation is an essential element for survival.
A product innovation is the introduction or modification of goods or services that is new or has additional benefits or uses or has significantly improved characteristics or improved uses. In case of service, there is overall increase is the service rendered or experience.
A process innovation refers to the implementation or introduction of a new or improved production or delivery method. It may lead to development of new product or new uses of product. Introduction of new salt or any excipients that enhance performance of a particular dosage form can be treated as a new product development in pharmaceutical industry.
In the past it was okay if companies do not develop new products and rely on flagship products for growth. But with ever-changing technologies and competition in the market, the product cycle has become narrow and there is a continuous need for innovation. Also, change in consumer’s mindset has led to need for more effective and user-friendly products which leads to product innovation.
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Industry Banks On Technology For Milk Safety
In October 2019, Food Safety and Standards Authority of India (FSSAI) released a full report after carrying out a survey on safety and quality of liquid milk in the country. Although the survey results hint towards demolishing milk adulteration perception, an in-depth analysis of the report reveals that 1 in 10 packets of milk purchased by consumers could be unsafe. Hence more is required in the dairy sector in order to address the issue of milk adulteration at all levels. On a whole, further steps are required to be taken to achieve transparency and efficiency in the dairy sector of India through public private partnership and best use of technology.
IRRESPONSIBLE ADVERTISING UNDER SCANNER
To increase the monitoring on misleading advertisements in the food and beverages sector, the FSSAI signed a MoU with ASCI, the self-regulatory body of advertisement industry in 2016. As per the agreement ASCI comprehensively monitor the advertisements across various media. The move by the two regulators to work together has resulted in reduction in filing of complaints.
Plastic Ban - A Boon Or Bane?
This Independence day, Prime Minister Narendra Modi took a pledge to ban the use of single-use plastic by October 2. Although the plastic ban is directed towards a healthier environment, businesses in the food, beverage retail and e-commerce industries are set to be the most affected by this development. Now all stakeholders are working on finding alternatives to plastic.
Curbing Obesity
With a mission to lead and drive global efforts to reduce, prevent and treat obesity, the World Obesity Federation (WOF) launched World Obesity Day in 2015 that is now observed globally on October 11. With more than 135 million individuals affected by obesity in India, abdominal obesity is one of the major risk factors for cardiovascular disease (CVDs). The WOF estimates about three out of ten Indians are expected to be obese by 2025. India needs to gather some learning lessons from other countries where the industry is collaborating with regulators to achieve regulatory environments that are conducive for product reformulation, labelling and marketing regulation, ensuring a range of healthy options for consumers.
'FICCI Foodworld India 2019'
“Government to support industrialists and budding entrepreneurs to set up food processing industries”
When Is It Fair To Call A Food ‘Natural'?
Most regulations, be it for food or drugs or cosmetics, have one common requirement which states something like -- the declarations and claims “should be not misleading, false, or exaggerated”.
Popularising Millets To Address Malnutrition
The millet initiative is a continuation of enhancing the nutritional intake among the malnourished. Making millets popular to the masses again will be a major breakthrough in overcoming malnutrition and rural poverty while being more sustainable for the environment. It can also drive new markets and business opportunities.
What's Cooking In APAC Region?
In 2016, the Asia-Pacific (APAC) region's food and beverage industry achieved an estimated turnover of $3.23 trillion, and was backed by a consistent year-on-year growth rate of 11 per cent, presenting a wealth of opportunities. With rising incomes and growing awareness of healthy eating among a burgeoning middle and upper class, the food companies see a clear opportunities for them in the region.
Asia Is Facing Increasing Health And Dietary Challenges
Roquette, a global leader in innovative plant-based ingredients, has recently opened new offices and an innovation center in Singapore, increasing its focus on Asia’s nutrition and health challenges. The state-of-the-art facilities, which include a research laboratory, customer technical services as well as the new regional headquarters, will allow Roquette to tailor its products and address the specific health and dietary challenges of the region such as obesity or diabetes.
Better Logistics & Cold Chain Facilities - Key to Reducing Food Loss
Better Logistics & Cold Chain Facilitieskey to Reducing Food Loss
