INTERNATIONAL FLAVORS & FRAGRANCES INC.

INTERNATIONAL FLAVORS & FRAGRANCES INC. Overview

Company Headquarters: New York, US

Founded: 1889

Workforce: ~24,000

Company Working: International Flavors & Fragrances Inc. (IFF) is engaged in manufacturing flavors and fragrances. The company uses the beauty of art and the precision of science and partners with the customers for the development of tastes, ingredients, scents, experiences, and solutions for the innovative products which the world craves. The company is among the global leaders in food, beverages, health, bioscience, and sensorial expertise, International Flavors & Fragrances Inc. continuously innovates its products for a better consumer experience. The company is operating its business for more than 130 years to find the most advanced solutions to provide superior products to the market. The company offers products and solutions based on the needs of the consumers. International Flavors & Fragrances Inc. provides end-to-end services as compared with the other enterprises. The company has an unparallel product portfolio that has diversified applications in various industries. International Flavors & Fragrances Inc. has leadership in taste, nutrition, texture, scent, cultures, probiotics, enzymes, and soy proteins. Moreover, the company also offers various sugar alcohols/polyols for differentiated applications. International Flavors & Fragrances Inc. mainly operates through taste, scent, and Frutarom segments. The company has more than 128,000 products listed in its product portfolio, which are sold in more than 200 countries globally. The product manufactured by the company is used in food & beverages, personal care, and household applications. The company has 104 manufacturing facilities and 82 creative centers and application laboratories located in 44 different countries. It has a sales presence across the world.

Strategy

International Flavors & Fragrances Inc. primarily focuses on investment, which is identified to be the company’s key strategy. In order to strengthen its business portfolio and broaden its geographic reach, the company actively engages in investments and keeps expanding its manufacturing, presence, sales organization, and product offerings into emerging markets. For instance, the company in these markets has significantly increased as a result of the 2018 acquisition of Frutarom and the N&B Transaction, both of which had a sizable presence in emerging countries. It has been actively engaged in R&D and invests in product innovations and upgrades. For instance, the company has invested 629 USD million dollars in 2021 which is 76% more compared to 2020. IFF is also committed to sustainability and has set ambitious goals to reduce its environmental impact. The company aims to achieve net-zero carbon emissions by 2040 and has already made significant progress towards this goal. For example, IFF has reduced its greenhouse gas emissions by 50% since 2021. As a member of RE100 it has achieved 58.7% renewable electricity at its facilities. A wide range of offerings in the food flavors segment is one of the primary reasons for its global dominance.

Company Snapshot

$5,140M

Revenue

24,000

Employees

1889

Founded

New York, US

Headquarters

SWOT Analysis

Strengths

Focus on R&D
Well-established raw material procurement network
Strong market position
Well-established raw material procurement network
The company has the strongest product portfolio of 128,000 products
It has a large network of dependable raw material suppliers enabling the business to get around any supply chain bottlenecks.

Weaknesses

Negative publicity due to lawsuits
High attrition rate
Their market is heavily dependent on Europe and America continents.
Workforce attrition is high when compared to comparable firms in the industry.

Opportunities

Expansion in emerging economies
Sales through e-commerce channels
Growing e-commerce industry
Expansion through online sales channels
Opportunity for marketing to strengthen brand position in new market

Threats

Regulatory concerns in international markets
Intense market competition
Regulatory concerns
Increasing market competition
Threat related to inflation due to Ukraine war
A lack of trained staff in a particular worldwide market might pose a significant danger to the organization.

Key Developments

Date	Approach	Development
July 2018	Acquisition	International Flavors & Fragrances Inc. acquired Frutarom Industries Ltd. for approximately USD 7.1 billion. The acquisition helped expand the company’s product portfolio and global market presence.
June 2021	Launch	IFF (International Flavors & Fragrances Inc.) launched Nurica in the United States, this ingredient reduces the levels of sugar and lactose without hampering the sweetness and taste of the natural milk.
April 2020	Agreement	Evolva formed an agreement with IFF to develop and expand with the commercialization of vanillin.
April 2019	Product Launch	IFF announced the launch of Henry Rose, a line of fine fragrances, to set a new precedent for transparency in fine fragrance and personal care.
February 2019	Expansion	IFF announced the expansion of Tastepoint by the IFF model in multiple geographies around the world and provide localized service to dynamic middle-market customers in a variety of locations.
February 2021	Merger	IFF and DuPont's Nutrition & Biosciences Business merged to form a global ingredients and solutions leader serving consumer-oriented food and beverage.
April 2020	Agreement	International Flavors & Fragrances formed an agreement with Evolva (Switzerland) to develop and expand with the commercialization of vanillin.
February 2019	Expansion	International Flavors & Fragrances Inc. announced the global expansion of the Tastepoint by IFF model. Frutarom's large and well-established client base, as well as its offering to those customers, are being leveraged while remaining focused on the specific needs of their local market.
April 2018	Acquisition	International Flavors & Fragrances completed the acquisition with Frutarom (Israel) to become the global leader in taste, scent & nutrition.
June 2021	Launch	International Flavors & Fragrances Inc. launched Nurica in the United States, this ingredient reduces the levels of sugar and lactose without hampering the sweetness and taste of the natural milk.
February 2019	Expansion	International Flavors & Fragrances Inc. announced the expansion of Tastepoint by the IFF model in multiple geographies around the world and provide localized service to dynamic middle-market customers in a variety of locations.

Product Offering

International Flavors & Fragrances Inc.
- Botanical Extracts
- High Intensity Sweeteners
- Global Sugar Alcohols Market
- Sugar Reducing Ingredients Market

Financial Performance

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