Top five manufacturer Takasago will manufacture in excess of 10,000 tonnes of its products each year at the facility in Chennai.
“We see opportunity for immense growth [in India], as the world is just a click away,” said Satoshi Masumura, Takasago’s president said.
He added that the plant would also serve neighbouring countries, and Chennai was the “ideal choice” of location because of its ease of connectivity, surplus of technical talent and the city’s established relations with Japan.
TTP Shaheel, managing director of Takasago’s Indian operation, added that he had high ambitions even though the company had entered the market behind its competitors.
“We are expecting to grow in both flavours and fragrances while leveraging consumer insights and market research tools to collaborate with our customers to build intimacy,” Shaheel said.
“Being the only Asian company on the global marketplace, our technology and rich heritage in Asia makes us an ideal [flavours] partner in India.”
India has been experiencing considerable growth in middle-class income, bringing with it a consumer revolution across many segments. Increased confectionery and bakery sales, along with a higher preference towards personal wellness, has raised demand in Takasago’s segment.
The company expects that the long-term growth of it’s Indian outfit will gain further by rising urban populations and growth in lifestyle consumption.
This demand will also stem from the growing performance of the segment in tiers two and three cities, mainly due to an increased demand for personal wellness products.