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Flavour & fragrance co Takasago launches India mfg facility in Chennai
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Thursday, 09 March, 2017, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Takasago, one of the world’s top five flavour and fragrance companies, launched its India manufacturing facility at One Hub Chennai. The facility, with a manufacturing capacity in excess of 10,000 tonnes per annum, is a part of the company’s aggressive expansion plans for India.
For more than 95 years, Takasago has developed flavours and fragrances for some of the world’s most successful food, beverage, fine fragrance, household and personal care products. Takasago has a strong research and development (R&D) that creates the most prestigious, effective and innovative flavours and fragrances.
The fact that Ryoji Noyori, director, Takasago, was awarded a Nobel Prize in Chemistry in 2001 is a testimony to the cutting edge innovation at Takasago.
Satoshi Masumura, president and chief executive officer, Takasago International Corporation, said, “India, being the fastest-growing economy with a young population, is on the cusp of being a world leader with reforms and policies that make it one of the ideal investment destinations.”
“We see opportunity for immense growth, as the world is just a click away. Modern lifestyles, increased travel and aspirations that drive consumers to experience varied and improved products are the driving factors for us to be present in this market,” he added.
Masumura stated, “Our focus market being India, this facility will also serve Sri Lanka, Bangladesh and other neighbouring countries. Ease of connectivity, surplus technical talent and this upcoming township (an alliance between the governments of Japan and India) made Chennai an ideal choice.”
Speaking on the India facility, T T P Shaheel, managing director, Takasago International India, said, “Though we have entered this market quite late, we aim to be amongst the top five players in the country.”
“This facility is a major part of our expansion plans for India. We are expecting to grow in both flavours and fragrances, while leveraging various consumer insights and market research tools to collaborate with our customers so as to build customer intimacy,” he added.
“However, being the only Asian origin company on the global charts, technology, backed with our rich heritage and experience in the other parts of the continent, makes us an ideal partner, a perfect blend to serve our customers in India,” Shaheel said.
The increase in the personal disposable incomes of consumers, increased confectionery and bakery sales and higher preference towards personal wellness products has raised the demand for flavour and fragrance products in the country.
The growth in this segment has been largely led by such factors as growth in demand from the young population and a rising preference towards premium fragrance and flavour products.
The growth in the long run will be further infused by rising urban populations and growth in preferences towards a better lifestyle. The demand would also stem from the rising demand for flavour and fragrance products from the Tier-2 and Tier-3 cities, mainly due to an increased use of personal wellness products.
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