Case study: Specialty Maltose Syrup – Holistic Market Environment Research in China

Holistic market environment research in China The challenge

A leading global biotechnology company producing enzymes and micro-organisms had observed growth in the specialty syrup market. It sought to obtain a deeper understanding of the market and customer demand trends.

The objectives of the study were to forecast the size of the overall market, gauge customer demand patterns (i.e. applications, functions and compositions of specialty maltose syrups), as well as understand available products and prices in the market and the strategies of competing specialty syrup producers.

The process

Spire held face-to-face in-depth interviews with major specialty syrup producers, importers, distributors and industry experts. Telephone interviews were also conducted with major end-users of functional maltose syrup, including confectioneries, beverage producers, dairy products manufacturers, pharmaceutical companies, etc. Secondary research were carried out as well.

The results

The study suggested that the Chinese market lacked an understanding of specialty syrups and required education from our client for the growth opportunity to materialize.

Project deliverables included a report detailing:

Current and forecasted market size for specialty syrup
Local practices and government regulations
Market segmentation by product categories, customer segments and geographic regions
Current applications and functions of functional maltose syrup within each end customer segment
Required functional maltose syrup composition for various applications and functions
End-users’ awareness of other functions of functional maltose syrup not currently exploited and the degree of receptivity to these new functions and applications
End-users’ purchase and usage patterns, decision making dynamics and satisfaction with current suppliers/brands, unmet needs
Profile of key specialty syrup producers