Synthite Industries Private Ltd. is an Indianoleoresin extraction firm, supplying ingredients to food, fragrance and flavour houses. The company is based in Kochi. In 2008, it had 30% of the world's market share. The company was established in 1972 with 20 employees. It was founded by C. V. Jacob who started the company after working in civil construction for two decades. Initially it produced industrial chemicals before shifting to oleoresins. The oleoresin business was initially based on research by the Central Food Technological Research Institute in Mysore. However, the technology developed was not yet mature, and it took several years of additional research and development by Synthite to make the technology viable. It took another four years before they convinced food producers that they could produce quality products on time. By 2008, it has grown to 450 crore and 1200 employees, with a 2012 goal of 1,000 crore. The company achieved this goal, with a total of 2,000 employees. The company only began selling directly to consumers in its native India in 2014. Some of its major clients include Nestle, Bacardi and Pepsi. The company is currently run by the founder's son, Viju Jacob. In 2012, Synthite commissioned its first overseas production facility in Xinjiang, China with a production capacity of 550 tonnes per annum of paprika oleoresins. The company produces oleoresin spices, essential oils, food colours, and sprayed products. It also has products that are organic and fair-trade. The company also has investments in realty and hospitality. In 2012, production capacity was 38,000 tonnes. To meet its expansion goals, it needs to improve access to raw materials. Increasing raw materials access means that they will need China, Sri Lanka and Indonesia for their abundant raw materials supplies. In particular the company is focused on developing its paprika processing investment in Hejing County, China established in 2012 as pivotal to rapid revenue growth. In 2019, Synthite started its third manufacturing facility located at Wucheng county in Dezhou in China's Shandong province. It was inaugurated by Indian Ambassador to China Vikram Misri along with local Chinese government officials. Some observers quoted by Outlook an Indian magazine feel that the company has over-invested in capacity, increasing their costs.
The Synthite Industries Employees’ Union had called a strike in the first week of April after seven employees were transferred to other states. The 37-day-long strike was called off after talks held in the presence of the labour commissioner and turned violent.
