Asian-Pacific markets continued to provide solid growth opportunities for Kerry, notes the ingredients and flavours group as it released an interim management statement for the first nine months to 30 September 2011.
Business volumes for its standard and functional ingredients, as well as its flavours systems in that region grew by 10.1%, said the Irish group.
Meat technologies grew strongly in Australia and New Zealand, continued Kerry, adding that dairy and lipid systems again achieved good growth in the nutritional sector.
It said that Kerry Pinnacle continued to grow strongly through "value propositions" in the lifestyle bakery sector while emulsifiers achieved double digit growth.
Management also reveals that Kerry’s overall sales revenue across all markets in the period jumped by 7.9%, while business volumes grew by 3.4% with product pricing/mix increasing by 4%.
“Relative to the first nine months of 2010, business volumes were ahead 3.9% in ingredients & flavours and 1.6% in the Group’s consumer foods division,” continued the Irish firm.
In the Europe, Africa and Middle East (EMEA) region, Kerry’s business volumes reflect 2.6% regional growth in the nine months to the end of September. But the group notes that while overall performance in the region was “above industry average” it varied across end-use-markets and regional markets due “to cost pressures arising from raw material pricing.”
Kerry management said that snack applications in the region continued to provide good growth opportunities for its cheese systems and seasonings.
Development in the meat sector in those countires was constrained due to "challenging sectoral issues" but its poultry applications performed well. Kerry said its sweet systems achieved good growth in EMEA, in particular through confectionery, yoghurt and bakery applications.
And the Irish group also reported solid growth in the challenging ready-to-eat cereals category in the EMEA countries.
In the Americas region, Kerry said that despite tougher market conditions and the background of input cost inflation it managed a growth rate of 3.6% in business volumes. Savoury and dairy systems continued to perform well, it said, due to demand from the yoghurt and dairy sector and through coating systems in the meat industry.
Cereal and sweet categories in the Americas remained challenging though due to what Kerry described as "competitive trends and delayed product launches."