Symrise has opened a new site in Tehran, Iran, where it will set up sales offices and application-specific laboratories to act as a bridge between Eastern and Western markets.
By setting up a new business unit in the country called Symrise Parsian, the company will strengthen its presence in the “growing” Middle East market. Symrise wants to use the knowledge gained on site to develop custom-tailored products for the market in the Persian Gulf region, made for local and international customers in the food and beverage industry.
It said that Iran’s location made the country and important trading hub that presented “a variety of trading opportunities for the future”. With its local infrastructure in place, Symrise will be able to serve its customers faster and more effectively while engaging with them in a purposeful manner, Symrise said.
In this way, the company can recognise customer needs and market demands early on and implement these in its product development, it added.
Symrise chief executive officer Heinz-Jürgen Bertram said: “Having our own site in the region underlines our dedication to Iranian customers and this attractive market. We are thus a step ahead of many other international companies.”
Symrise Parsian managing director Mohammad Faieghi added: “The population of roughly 80 million is well educated with a healthy demographic distribution of 50% under the age of 30. There is a lot of demand for products such as high-quality perfumes, cosmetics and foods that conform to leading global standards. The total market potential in this area is estimated to be more than €100 million.”
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