What were readers hungry for in November 2024? We've taken a look at our Google Analytics to present the top five reads in taste and flavor industry news.
1. Turpaz Acquires German Flavor Company Schumann
On November 7, 2024, Turpaz Industries acquired German flavor company Schumann & Sohn GmbH. This marks Turpaz’s fourth acquisition of 2024.
Founded in 1948, the Schumann company currently operates a production and development site in Karlsruhe, Germany. The company’s portfolio offers flavor solutions for the food industry and nutritional supplements, and specializes in sweet flavors. Schumann sold 6.7 million euros in the first nine months of 2024.
2. Symrise Reports Sales Up 11.1% in First Nine Months of 2024
Jean-Yves Parisot, CEO of Symrise AG, "Symrise was able to seamlessly continue the positive business development of the past months in the third quarter. Despite the current volatile market environment due to geopolitical tensions and continued inflation pressure, we are confident for the rest of the year and expect robust demand. Our diversified portfolio and broad, international footprint will continue to help us realize our growth potential and create sustainable value this year. We are firmly convinced that we have set the right course for the future."
3. Kerry Group to sell Kerry Dairy Ireland to Company Co-Op
According to the proposed transaction, Kerry will continue to have 30% ownership to support alignment between Kerry Dairy Ireland and the Co-Op’s members and stakeholders until July 31, 2035. The Co-Op will have the right to purchase the remaining 30% interest for 150 million euros any time before that date.
Edmond Scanlon, chief executive officer of Kerry Group, said, “The proposed transaction will result in a global leader in taste and nutrition solutions and an end-to-end industry leader in dairy. On completion, Kerry will become a pure play global business to business taste and nutrition company, with sustainable nutrition at its core, while also supporting our financial objectives.”
4. Gen Z Looking For Complex Heat and Mashup Flavors, Says New Report
On November 19, 2024, Rubix Foods released its NEXT Flavor Report, which collects data from third-party market researchers and Rubix’s network of content creators. The report notes five key trends that will influence Gen Z’s food purchases in the upcoming year.
5. Biotech Flavor Market Expected to Reach $69 Billion by 2034
“Prominent biotech flavor companies are investing in R&D activities to generate new and advanced microbial flavors that enhance product offerings and meet evolving customer expectations for distinctive flavors and health benefits,” said an analyst with Fact.MR.
