Market Segments – Ingredients
MediKane recently saw an opportunity to enter a new market, which is the global Food Ingredients market – with specific reference to the global dietary fibre markets.
It will involve supplying our plant-based products to food processors who buy ingredients to make final products. This includes bakeries, health food manufacturers and processed meat producers, although the applications go well beyond these industries and will include in-organic applications.
The reasons this market is available to MediKane are:
- The product is an ingredient for the NutriKane range
- It uses the same supply lines as MediKane’s other product ranges
- The Quality Control and storage requirements are the same as existing products
- MediKane’s technical team are highly experienced in the product and the consumer products that the food processors sell
- MediKane’s marketing and sales team have successfully developed products for this market in the past:
- Customer types are well known, many in detail
- Main competitors and their products are known
- Pricing is well established – we can sell at the low end of the range
- MediKane has excellent distribution and selling networks in Australia the USA and Japan - recent network associations include parts of Europe and Asia
- MediKane can produce a high-quality product at a lower cost than many competitors
This is a US$5.4 billion global market with a compound growth rate between 2020-2026 of 12.9%. The bakery sector continues to show this high growth rate.
The Dietary Fibre market – Applications
- Breakfast cereals & snacks
- Meat products
- Infant food
- Companion animal nutrition
- Others (personal care & cosmetics)
Key segments for MediKane - based on our Sugarcane Fibre product
- Gluten Free Baking (breads)
- Baking-breads/flat breads, cakes, doughnuts
- Processed meats - meat patties
- Increasing fibre content to many existing packed goods looking to improve health claims/clean up labels
- Other potential markets:
- Beverages (adding fibre to fruit drinks/milks)
MediKane Industrial Product Branding
We will market our industrial product under the brand name ‘SugarKane Fibre’. This is a versatile, unique functional food ingredient.
SugarKane Fibre is a new sugarcane dietary fibre rich in phytonutrients and minerals. Hundreds of manufactured foods can use SugarKane Fibre.
Among the advantages of SugarKane Fibre when used in customer food products are:
- Moisture retention before and during cooking / baking
- Improves production yields and reduces cost
- In some products, this improves mouthfeel – as tested by MediKane’s technical partners
- It reduces water activity of a baked product and so helps improve shelf life.
Sales will be to the USA, Canada, Australia, and global manufacturers with relationships spreading to other countries, specifically Europe. Other potential markets include Japan and South America.
SugarKane Fibre sells in 10kg bags in Australia and 20lb bags in North America. All sales will be via agents and distributors.