MEXICO – Kerry, a multinational food ingredients company based in Ireland, has announced the opening of a new taste facility in Irapuato, Mexico, as it looks to strengthen its position in the Latin American market.
According to Kerry, the new facility is expected to significantly expand the company’s offerings across a range of food and beverage categories, including refreshing and alcoholic drinks, snacks, meat, dairy and bakery.
The facility is expected to primarily serve Kerry’s customers in Mexico, Central America, the Caribbean and the Andean region.
According to Marcelo Marques, president and CEO of Kerry Latin America, the new taste facility will allow the company deliver on consumer demands across the region.
“We look forward to working with customers to bring innovative taste solutions to satisfy consumer needs and create a world of sustainable nutrition,” Marques said.
Marques further noted that Covid-19 has impacted consumer behaviour and taste preferences across Latin America, and companies need to be in a position to understand and respond to this evolving dynamic.
The new site is thus expected to help Kerry deliver tailored solutions for customers in the Latin American region.
Kerry’s investment comes at a time when the Latin America Specialty Food Ingredients Market is projected to grow at a CAGR of 6.60% during the forecast period from 2021 to 2026.
According to the market research firm, the speciality food ingredinets market which has been estimated at USD 5.76 Billion in 2021 is projected to reach US$7.93 Billion, presenting new opportunities for Ingredient companies such as Kerry.
Edson Cortes, Taste lead for Kerry Latin America, added: “Mexico boasts 35% of the taste market in the Latin America region and presents solid opportunities for growth and innovation.
“This important investment positions Kerry as the leader in the flavours market in Latin America as we seek to consolidate our position in the market and deliver great taste solutions with our customers.”
Earlier this year, Kerry announced that it is investing €30 million to build a second production facility in Indonesia, as it looks to expand its offering for customers in Southeast Asia.
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