Symrise acquires minority stake in Bonumose to accelerate growth in sugar reduction solutions
USA – German purveyor of flavours and fragrances Symrise has acquired a minority stake in US-based sugar alternative manufacturer, Bonumose in an attempt to gain a footing in the fast growing market for low calorie sweeteners.
Virginia-based Bonumose is an early stage food ingredient manufacturer that specialises in the affordable production of rare monosaccharides (alternatives to sucrose) such as tagatose and allulose.
Founded in 2016, the company recently opened a new R&D facility and manufacturing plant earlier this year enabling quality, consistent, and economic production of their growing portfolio of sugar alternatives.
Symrise notes the move to acquire a stake in the Charlottsville company will accelerate growth in its sugar reduction initiatives which is a high-priority focus for the North America region within the Taste, Nutrition & Health segment.
“This investment will enhance our flavour and taste balancing technologies with Bonumose’s innovative and economical tagatose and other alternative sweetening solutions,” said Nick Russell, Senior Vice President – Business Incubation Group, Symrise AG.
Diversification to sugar reduction couldn’t be timelier as there growing demand for sugar substitute products from the food and beverage business to meet consumer needs for better-for-you products.
The global sugar substitutes market is projected to grow from $7.91 billion in 2022 to $12.86 billion by 2029, at a CAGR of 7.20% in forecast period, 2022-2029, according to Fortune Business Insights.
“Combining our technologies, will enable us to offer our customers new pathways to sugar reduction and taste balancing solutions. In turn, this will allow them to reduce sugar while optimising the taste of better-for-you products for their consumers,” adds Russell.
According to Russell, demand is particularly high in beverage and ice-cream categories and with the support of Bonumose’s enzymatic expertise, he expressed confidence to bring novel and disrupting ingredients to the marketplace.
Bonumose is reported to have enjoyed continued strong fortunes due to the performance of its patented enzymatic technology. This allows for the sustainable bulk production of healthy ingredients from globally-abundant plant material.
Ed Rogers, Bonumose Chief Executive Officer and Co-Founder said: “The strength of Symrise as an augmented flavour house paired with Bonumose’s patented enzymatic technology will enable cutting edge solutions to sugar reduction.”
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