Achieving our 2025 strategy
Our 2025 strategy, Committed to Growth, with Purpose is our roadmap to deliver sustainable value creation over the next five years for all our stakeholders.
Our intention is 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 is powered by three core growth drivers and four growth enablers, and supported by our focus on excellence and 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 2023
DDW becoming Sense Colour
Following our acquisition of DDW, The Color House, we have established it as a separate business unit: Sense Colour. Moving forward together, we continue to enhance our leadership in natural colours and to strengthen our ability to create the multisensorial food experiences consumers love.
Introduction of Rosabloom™
The introduction of Rosabloom™, a biodegradable molecule, addresses our customers’ need for a sustainable floral rosy ingredient with outstanding diffusion and bloom. Five times more performant than citronellol, it follows green chemistry principles and shows outstanding carbon efficiency.
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 2023
The Food Experience Lab
We launched The Food Experience Lab for Taste and Colour at Nurasa in Singapore to enable local food tech start-ups to develop regional plant-based creations.
Expansion of Protein Hub
We expanded our Protein Hub at our Zurich Innovation Centre in Kemptthal, Switzerland to support the growth of dairy alternatives. Offering specialised expertise, state-of-the-art digital technologies, and an integrated portfolio of solutions specific to dairy alternatives, the Hub will accelerate new product development, allowing for the co-creation of exciting new food experiences.
New Innovation Hub
We opened a new Innovation Hub in Dubai to accelerate regional innovation and co-creation. Including new labs, and a consumer and sensory insights centre, the hub will create exceptional food experiences.
Growth driver #3 – Focused 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 2023
Tropical Food Innovation Lab
We opened the Tropical Food Innovation Lab in Brazil: an innovation ecosystem for the development of sustainable food and beverages to leverage the biodiversity offered in Brazil and strengthen food innovation in Latin America.
Food experiences in Chengdu
In Chengdu, China we opened a new office offering a full range of food experiences for the Chinese market, fuelling innovation and growth in China’s savoury business. The office offers the latest digital tools and an immersive meeting room that combines multiple senses to facilitate co-creation with our customers.
Renovated oral care laboratory
Our newly renovated Oral Care Application and Innovation laboratory in Ashford offers state-of-the art equipment, allowing our team to respond with innovative proposals to customer briefs.
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 2023
AI technology Myrissi
Our new AI technology Myrissi, provides an innovative way of translating scents into colour patterns, marking a key step forward in expanding our customer-centred digital solutions. Myrissi’s ability to capture and predict the spontaneous emotional perception of fragrance experienced by consumers helps drive the creative and product development process by determining the best alignment between colours, emotions and scents.
We joined the LEAD Network
We joined the LEAD Network (Leading Executives Advancing Diversity) to support our ongoing ambition of increased gender representation at leadership level and to strengthen our commitment to growing diversity and inclusion.
‘Enterprising Leader’ award
We received the ‘Enterprising Leader’ award at the 2023 RE100 Awards. This recognises our efforts in leading our industry through our renewable electricity journey.
‘Gold’ award from Lundquist
We were the only company awarded ‘Gold’ in the third edition of Lundquist .trust research study. Cited was our purpose-driven digital communication and transparent communication that features seamless integration of our sustainability commitments.