International Flavors & Fragrances (IFF) opened new flavor production facility in India
The new facility, located in Gurgaon, will develop flavors for customer's in National Capital Region…The new facility, located in Gurgaon, will develop flavors for customer's in National Capital Region (NCR), and for companies that produce prepared foods, sweets, beverages, and dairy products for the Indian market.
Spanning over an area of 20,000ft², the facility will house creative, technical, sensory, and sales professionals.
IFF chairman and CEO Doug Tough said the company's increased presence in India is in line with the ongoing plan to expand IFF's presence and create infrastructure to serve emerging markets, especially those experiencing the most high growth rates and demographics.
IFF Flavors group president Hernan Vaisman said the company is committed to customers in India and has R&D capabilities and technologies, in-house talent to develop the best tastes for the region.
IFF, which offers flavoring agents and fragrances used in food, beverages and other products, is present in India through its wholly owned subsidiary International Flavors & Fragrances India.
The Indian subsidiary accounts for 3% of its overall revenue, which totalled about $3bn.
According to International Flavors & Fragrances India managing director Sridhar Balakrishnan the company's sales in India witnessed a growth of 16% year-over-year over the past five years.
In the country, the company has two manufacturing plants in Chennai, one in Jammu and Kashmir, and eight contract manufacturers.
The flavors market in India is valued at Rs12bn ($21.43m) annually, increasing at a rate of 12% year on year.
This investment comes after the company announced the opening of a new creative centre in Shanghai, China, a major upgrade to the creative center in Mumbai, India, and the groundbreaking of two new manufacturing plants in China and Singapore.
IFF is a global creator flavors and fragrances used in sweet goods, food products, beverages, beauty care, detergents and household goods, and it has presence in 32 countries globally.
