International Flavors & Fragrances Inc. creates, manufactures, and supplies flavors and fragrances for the food, beverage, personal care, and household products industries either in the form of compounds or individual ingredients. The company’s flavors and fragrances compounds combine various ingredients that are blended, mixed, or reacted together to produce proprietary formulas created by its perfumers and flavorists. With operations in 32 different countries worldwide, the company collaborates with its customers to serve consumers in approximately 100 countries. The company operates through two segments, Flavors and Fragrances. Product Offerings Flavors The company’s Flavors compounds are used by its customers in four end-use categories, such as savory, beverages, sweet, pharmaceutical and oral care (sweet), and dairy. The company also manufactures various flavor ingredients for its use in developing flavor compounds. Savory: The company produces flavors, which are used in soups, sauces, condiments, prepared meals, meat and poultry, and potato chips and other savory snacks. Beverages: The company creates flavors for juice drinks, carbonated beverages, flavored waters, and spirits; and has creative expertise dedicated to beverage flavor systems. Sweet: The company creates flavor concepts and heat-stable flavors for bakery products, as well as candy, chewing gum and cereal, which each have distinctive sweet tastes. For pharmaceutical and oral care products, the company produces flavors for products, such as toothpaste and mouthwash. Dairy: The company offers a range of value-added compounded flavors for all dairy applications, including yogurt, ice cream, cheese, cream, and butter flavor. The company also offers a range of vanilla extracts and various flavor solutions that build on its understanding of vanilla. Fragrances The company engages in the creation of fragrances. The company’s fragrances are a key component in the world’s finest perfumes and best-known consumer brands, including fabric care, home care, personal wash, hair care, and toiletries. The company’s Fragrances business consists of Fragrance Compounds and Fragrance Ingredients. Fragrance Compounds: In 2014, the company realigned its creative and commercial teams within Fragrance Compounds into two market categories, such as Fine Fragrances and Consumer Fragrances. Fragrance Compounds refers to its fragrance compounds that are used by the company’s customers in these two market categories. Fine Fragrances: The company has created some of the fine fragrance classics, as well as niche fragrances. Consumer Fragrances: The company’s consumer fragrances include five end-use categories of products, such as fabric care, including laundry detergents, fabric softeners and specialty laundry products; home care, including household cleaners, dishwashing detergents and air fresheners; personal wash, including bar soap and shower gel; hair care; and toiletries. Fragrance Ingredients: The company creates, develops, and manufactures a portfolio of fragrance, and to a much smaller extent flavor, ingredients, for internal use in its compound businesses and for external use in preparation of compounds by its customers and other third parties, including the company’s competitors. It has approximately 1,200 separate fragrance ingredients. Acquisitions In 2014, the company completed the acquisition of Aromor Flavors and Fragrances Ltd., a manufacturer and marketer of complex specialty ingredients. Strategies The major elements of the company’s strategies include leveraging geographic reach; strengthening innovation platform; and improving portfolio. Research and Product Development The company spent $254 million on research and product development activities in 2014. Governmental Regulation The company’s products and operations are subject to regulation by governmental agencies in each of the markets in which it operates. These agencies include the Food and Drug Administration and equivalent international agencies that regulate the flavors and other ingredients in consumer products; the Environmental Protection Agency and equivalent international agencies that regulate its fragrance compounds; the Occupational Safety and Health Administration and equivalent international agencies that regulate the working conditions in its manufacturing, research laboratories and creative centers; local and international agencies that regulate trade and customs; the Drug Enforcement Administration and other local or international agencies that regulate controlled chemicals that the company uses in its operations; and the Chemical Registration/Notification authorities that regulate chemicals that the company uses in, or transports to, the various countries in which the company manufactures and/or markets its products. Competition The company’s major competitors consist of Givaudan, Firmenich, and Symrise. History International Flavors & Fragrances Inc. was founded in 1909.
intl flavors & fragrances
(IFF:New York Consolidated)
521 West 57th Street
New York, NY 10019
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