Achieving our 2025 strategy
Our 2025 strategy, Committed to Growth, with Purpose outlines our intention to deliver growth in partnership with our customers, achieve ambitious financial targets, while also making progress on our longer term purpose ambitions in the areas of creations, nature, people and communities.
Our 2025 strategy, derived from our purpose, sets out our roadmap to deliver sustainable value creation over the next five years for all our stakeholders. It is powered by three core growth drivers and four growth enablers, and supported by our focus on Excellence, Innovation.
“We have effectively implemented our strategy across our growth drivers and enablers, and the key themes we identified have been proven to be the right ones.”
Gilles Andrier, Chief Executive Officer
Our 2025 strategy
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GROWING TOGETHER WITH OUR CUSTOMERS
At the core of our business is our relationship with our customers. Providing them with creative, innovative and sustainable solutions that are loved by consumers is what motivates us every day.
Going beyond our current portfolio to further expand into nutrition, food ingredients and beauty.
Maximise mature market opportunities at the same time as extending our high growth market leadership.
Embracing opportunities in today’s more fragmented customer landscape and driving growth in the local and regional customer segment.
Expanding strategic relationships with suppliers, start-ups and partners; enhancing co-creation with customers.
Focusing on climate, water and biodiversity preservation; and further embedding environmental sustainability in our product portfolio.
Nurturing a diverse and inclusive workforce; evolving workplace trends; caring for employee health and wellbeing.
Bringing benefits to the communities where we source and operate and continuing our efforts in sourcing responsibly.
Delivering the highest standards across our value chain, from operational and financial performance to the delivery of a superior customer experience.
Excellence, innovation, simplicity – in everything we do
Growth driver #1 – Expand the portfolio
We’re expanding our traditional portfolio of flavours and fragrances, naturals and delivery systems into nutrition, food ingredients and beauty. This broader offering helps our customers better respond to consumer demand for products that support health and wellbeing, positive ageing and changing lifestyles while meeting their expectations around ethical and responsible business issues.
KEY ACHIEVEMENTS IN 2022
Leading position in the natural colour business
We continued to strengthen our portfolio in the natural colour space. Givaudan and DDW combined forces to create the broadest palette of natural colours ever, aiming to take a leading position in the natural colour business for key colours and enhancing our leadership in delivering multisensorial food experiences consumers love.
Encapsulation capabilities strengthened
We strengthened our encapsulation capabilities for active cosmetic ingredients with the acquisition of 48% of Nanovetores Group.
Strengthening our sustainable fragrance ingredients
Our strategic collaboration with LanzaTech will enable the development of sustainable fragrance ingredients from renewable carbon.
Expanding plant-based texturisers
A commercialisation agreement with Fiberstar for a new citrus-based texturising ingredient. This collaboration will support the expansion of Givaudan’s Taste & Wellbeing portfolio and help expand plant-based texturising ingredients to new markets.
Growth driver #2 – Extend customer reach
The trend for smaller and local brands is driving growth in the local and regional customer segment alongside a continued potential with larger international and global customers. We want to provide more tailored approaches to meet the wider range of customer needs in this rapidly changing and more fragmented landscape.
KEY ACHIEVEMENTS IN 2022
Unlocking evolving consumer needs
Opening of a new Consumer & Sensory Insights (CSI) centre in Johannesburg, South Africa to unlock evolving consumer needs, local differences and sensory expectations and create food experiences loved by consumers.
Integrated centre to support our customers' growth
Inauguration of our first integrated fragrance encapsulation centre in Singapore, underscoring our commitment to the Asia Pacific region. This holistic centre will sustain our innovation, operational reliability and internal agility to effectively support our customers’ growth.
Growth driver #3 – Focussed market strategies
We’re responding to growth forecasts in global consumption and investing in high growth markets to ensure greater proximity to our customers and develop further understanding of local consumer preferences. We plan to maximise mature market opportunities over the next five years and extend our high growth market leadership, particularly in China.
KEY ACHIEVEMENTS IN 2022
Meeting future consumer needs
Launch of our Customer Foresight futurescaping platform to leverage big data, artificial intelligence (AI) technology and Givaudan’s deep expertise to meet future consumers needs.
Artificial intelligence helps fragrance co-creation service
Collaboration with Tmall Innovation Centre (TMIC) to launch the fragrance industry’s first AI-powered fragrance co-creation service in China – ’Creatogether’.
Excellence, Innovation & Simplicity – in everything we do
From excellence in operational and financial performance to the delivery of a superior customer experience, we aim to deliver the highest standards across the value chain. Innovation is our lifeblood, from creating differentiating solutions that address our customers’ challenges to leading the way in areas such as biotechnology and digitalisation. At the centre of everything we do are our customers.
KEY ACHIEVEMENTS IN 2022
Integration process of acquired companies
Further progress in integrating recently acquired companies on our platforms such as SAP and GBS, as well as on our creation, development and commercial systems.
Sustainable, natural and clean-label citrus flavours
Launch of BioNootkatone, a breakthrough ingredient that answers market demand for sustainable, natural, clean-label citrus flavour without the cost and supply volatility of traditional citrus extracts.
Environmental fate laboratory in Vernier
Investment in a fully-certified internal environmental fate laboratory in Vernier, enabling in-house expertise in developing renewable and biodegradable fragrance technologies.
Green Mark Gold certification
We obtained the Green Mark Gold certification for our integrated encapsulation centre in Singapore, demonstrating our high standards in tackling responsible energy consumption challenges.