International Flavors and Fragrances Inc (NYSE: IFF) |
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International Flavors And Fragrances Inc's Comment on Competition and Industry Peers
The flavors and fragrances market is part of a larger market which supplies a
variety of ingredients and components that consumer products companies utilize
in their products. The broader market includes large multinational companies or
smaller regional and local participants which supply products such as seasonings,
texturizers, spices, enzymes, certain food related commodities, fortified products
and cosmetic ingredients.
The market for flavors and fragrances is highly competitive. Based on annual
sales, our main competitors consist of (1) the three other large global flavor
and fragrance manufacturers, Givaudan, Firmenich and Symrise, (2) mid-sized
companies, (3) numerous small and local manufacturers with more limited research
and development capabilities who focus on narrow market segments and local customers
and (4) consumer product companies who may develop their own flavors or fragrances.
We, together with the other top three companies, represent approximately two-thirds
of the total estimated sales in the global flavors and fragrances sub-segment
of the broader market.
We believe that our ability to compete successfully in the flavors and fragrances
market is based on (1) our understanding of consumers, (2) innovation, arising
from the creative skills of our perfumers and flavorists and the technological
advances resulting from our research and development activities, (3) our ability
to create products which are tailor-made for our customers’ needs, (4)
developing strong customer intimacy and (5) driving efficiency in all that we
do.
Large multinational customers and, increasingly, mid-sized customers, may limit
the number of their suppliers, placing some on “core lists,” giving
them priority for development and production of their new or modified products.
To compete more successfully in this environment, we must make continued investments
in customer relationships and tailor product research and development in order
to anticipate customers’ needs, provide effective service and secure and
maintain inclusion on certain “core lists.”
Overall company Market Share Q1 2025 |
*Market share is calculated based on total revenue.
News about International Flavors and Fragrances Inc Contracts |
April 22, 2025
Revolutionizing Nutraceuticals: IFF Pharma Solutions to Showcase Innovative Plant-Based Dietary Supplements at Vitafoods Europe 2025 In an era defined by a conscientious shift towards sustainable and health-conscious living, the nutraceutical industry finds itself at a pivotal crossroad. As consumers increasingly seek out natural and effective health solutions, companies are compelled to innovate and adapt. Seizing this momentum, IFF Pharma Solutions is set to make waves at the highly anticipated Vitafoods Europe 2025, reaffirming its dedication to advancing plant-based dietary supplements. Scheduled to be held at the illustrious Fira Barcelona Gran Via, this premier global nutraceutical event will serve as ...
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April 11, 2025
Innovation in Motion: IFF s Strategic Expansion into MexicoIn an era where innovation and agility remain paramount, International Flavors and Fragrances Inc. (IFF) is making significant strides in reinforcing its commitment to customers in Latin America. The company, listed on the New York Stock Exchange under the ticker IFF, has announced its latest venture, unveiling a new hub at Mexico City s Tecnoparque. This strategic move signals the company s dedication to enhancing its service capabilities within a region that continues to show burgeoning potential and demands for cutting-edge solutions.IFF s decision to consolidate its operations within Mexico City reflects its commitment to deepening market presen...
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May 30, 2024
Sophisticated International Flavors and Fragrances Inc (IFF), a global leader in the fragrance and flavor industry, has released its highly anticipated 2023 Do More Good Report. This comprehensive report outlines the company s commitment to environmental sustainability, social responsibility, corporate governance, and sustainable solutions, collectively referred to as ESG+.The report highlights IFF s significant contributions towards reducing carbon emissions, showcasing how the company s innovative solutions enabled customers and consumers to avoid approximately 24.6 million tonnes of CO2e emissions. IFF s dedication to sustainability comes as the world continues to grapple with the environmental challenges...
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May 29, 2024
IFF Showcases Environmental Leadership and Progress in 2023 Do More Good ReportIn their recently released 2023 Do More Good Report, IFF (NYSE:IFF) highlights their commitment to sustainability and outlines the significant strides they have made towards their environmental, social, governance, and sustainable solutions (ESG+) strategy. The report highlights IFF s major achievements, including their innovations that have helped customers and consumers avoid approximately 24.6 million tonnes of CO2e emissions. The report can be accessed at iff.com/domoregoodreport and provides an in-depth look into IFF s sustainability efforts across their organization. By visiting the website, readers can gain valuable insight...
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Sources: International Flavors and Fragrances Inc and all companies mentioned above in this report
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