PepsiCo extends agreement to use Senomyx ingredients in non-alcoholic beverages
Global drinks major PepsiCo has extended its collaborative agreement with flavor ingredients producer Senomyx, for the next two years.
As per the agreed terms, the company will retain its exclusive worldwide rights to use Senomyx sweet flavor ingredients that have been developed for use in non-alcoholic beverages.
Senomyx will continue to receive research funding payments through August 2016 and will also be eligible for milestone payments based upon the achievement of predetermined goals, as well as royalty payments.
Commenting on the agreement, Senomyx president and CEO John Poyhonen said, "Senomyx's Sweet Taste Program has realized significant accomplishments during the past four years. We look forward to continuing to work with our valued partner PepsiCo on this successful program."
In April this year, PepsiCo had entered into a research agreement with Senomyx to identify new salt flavor modifiers.
Through this collaboration, the company has agreed to provide research funding for the Salt Taste Program for 2014, with options to extend the research funding period.
PepsiCo will have non-exclusive rights to salt flavor modifiers that are discovered during the research funding period.
Image: PepsiCo will retain its exclusive worldwide rights to use Senomyx sweet flavor ingredients. Photo: Courtesy of PepsiCo
Non-alcoholic Fruit Juice Energy & Sports Drinks Dairy Hot Drinks Soft Drinks Bottled Water
Technology Packaging Process Technology
Markets & Regulations Markets Regulatory & Safety
Why was the report written? Marketers in the Beer, Cider & Pre-mixed Spirits market face a major challenge. Understanding market size and segmentation is valuable, but the key to effective targeting is knowing just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends. This data report solves these problems by providing survey-based data on consumer trends and consumer groups, and market data that shows the exact size of consumer groups, how much of the Beer, Cider & Pre-mixed Spirits market they account for, and which consumer trends drive their behavior. What is the current market landscape and what is changing? As consumer confidence increases with economic recovery, consumer trends will be directly affected. Since the global financial crisis of 2008–2009 the organized retail market has been characterized by an increase in the amount of discounted and own-brand products. Beer &Ale, Flavoured Alcoholic Beverages, Lager, and Low Alcohol Beer & Lager are not considered essential items and therefore consumption patterns have been negatively affected. As economic and market recovery continues over 2012, consumption patterns will record a positive trend in both the medium and heavy frequency bands and the amount of non-users should decrease. What are the key drivers behind recent market changes? Consumers’ uptake of products and the influence of consumer trends are fundamental causes of change in markets – making knowing what these trends are and the extent of their influence crucial. The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of consumption across 26 consumer groups. This data provides a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having. What makes this report unique and essential to read? The data provided is unique in the market as it tracks consumer behavior through to its actual value impact on a product market. This provides readers with a unique data analysis of the market, allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviors. Buy online from $0