Israeli flavour house Frutarom has been mopping up smaller players including Savoury Flavours, Aromco and East Anglian Food Ingredients, and Wild has bought US mint ingredients and flavours specialist AM Todd.
And Julian Wild, food group director at legal firm Rollits, thinks 2012 will see yet more consolidation. "It's indicative of the fact it's no longer beautiful to be small," he says.
"Unless companies are highly specialised or doing something unique, there is no benefit to being small. Food manufacturers want to deal with big suppliers who can offer a comprehensive, global service, so in this market you need to be a substantial player."