The Top 10 Flavor and Fragrance Companies

Table of Contents

Executive Summary

• Market development
• Givaudan
• International Flavors & Fragrances
• Firmenich
• Symrise
• Takasago International Corporation
• Sensient Technologies Corporation
• T.Hasegawa
• Mane
• Robertet
• Frutarom
• Conclusion

Chapter 1 Report introduction

• Introduction
• Methodology

Chapter 2 Market development

• Summary
• Introduction
• Market size and growth
• Drivers of flavor and fragrance market
• Consolidation of major players
• Shifting base to low cost Chinese market
• Developing innovative flavor combinations
• Technology advances
• Inhibitors of flavor and fragrance market
• Long term relationships
• Research and development
• Compliance with quality and regulatory standards
• Investments in production in the field of fine ingredients
• Future outlook

Chapter 3 Givaudan

• Summary
• Introduction
• History
• Recent financial performance
• Acquisitions and divestments
• Market positioning
• Strategies for growth
• Expanding Givaudan' s market position
• Introduction of new products
• Investments
• Introduction of newly creative and innovative ideas
• Movement towards health and wellness products
• Innovation and NPD
• SWOT analysis
• Strengths
  • Market leadership
  • Diversified portfolio and innovation
  • Increased market share
• Weaknesses
  • Customer concentration
  • Integration risks
• Opportunities
  • Good growth in developing markets
  • Consolidation of big players
  • Strong growth in fine fragrances
• Threats
  • High raw material prices
  • Rising competition
  • Regulation
  • General market risks

Chapter 4 International Flavors & Fragrances

• Summary
• Introduction
• History
• Recent financial performance
• Acquisitions and divestments
• Market positioning
• Fragrances
• Flavors
• Strategies for growth
• Focus on core business
• Innovation
• Innovation and NPD
• SWOT analysis
• Strengths
  • Strong market position
  • Strong focus on core business
  • Strong R&D activities
• Weaknesses
  • Weak liquidity position
• Opportunities
  • Rising demand for flavors in savory and beverage applications
  • Rising demand in India and China
• Threats
  • Compliance with regulations
  • Increases in raw material costs

Chapter 5 Firmenich

• Summary
• Introduction
• History
• Recent financial performance
• Acquisitions and divestments
• Market positioning
• Perfume division
• Flavors division
• Ingredients division
• Strategies for growth
• Inorganic growth
• Operational initiatives
• Innovation and NPD
• SWOT analysis
• Strengths
  • Strong market position
• Weaknesses
  • Ownership status
• Opportunities
  • Acquisition of Danisco' s Flavor division
• Threats
  • Competition

Chapter 6 Symrise

• Summary
• Introduction
• History
• Recent financial performance
• Acquisitions and divestments
• Market positioning
• Flavor and Nutrition
• Scent and Care
• Strategies for growth
• Inorganic growth
• Expansion into new markets
• Strategic alliances
• Innovation and NPD
• SWOT analysis
• Strengths
  • Strong positioning in attractive markets
• Weaknesses
  • Declining profitability
• Opportunities
  • Acquisitions
  • Beverages as a growth market
• Threats
  • Increasing raw material costs

Chapter 7 Takasago International

• Corporation
• Summary
• Introduction
• History
• Recent financial performance
• Market positioning
• Flavors
• Fragrances
• Aroma chemicals
• Fine chemicals
• Strategies for growth
• Reinforce its position
• Global expansion
• Innovation and NPD
• SWOT analysis
• Strengths
  • Presence in China
  • Strong financials
• Weaknesses
  • Dependence on Japan and Western Europe
• Opportunities
  • Expansion of facilities in key markets
  • Renovation of Shanghai Creation Center
• Threats
  • Matured domestic market for fragrances

Chapter 8 Sensient Technologies Corporation

• Summary
• Introduction
• History
• Recent financial performance
• Market positioning
• Flavors and Fragrances
• Color
• The Asia-Pacific group
• Strategies for growth
• Product expansion
• Exploring new markets
• Improved pricing and cost savings
• Innovation and NPD
• Sensient' s future
• SWOT analysis
• Strengths
  • Strong results
  • Diversified revenue line
• Weaknesses
  • High dependence on the North American market
• Opportunities
  • Growth of cosmetics in emerging markets
  • Stable global dairy market
• Threats
  • Competition
  • Laws and regulations

Chapter 9 T.Hasegawa

• Summary
• Introduction
• History
• Recent financial performance
• Market positioning
• Flavors
• Fragrances
• Strategies for growth
• Focus on core business
• Expansion in global market
• Integrating R&D system
• SWOT analysis
• Strengths
  • Strong market position
• Weaknesses
  • Weak performance of the fragrance division
• Opportunities
  • Expansion plans
  • Focus on China
• Threats
  • Saturating domestic flavored beverage market

Chapter 10 Mane

• Summary
• Introduction
• History
• Recent financial performance
• Market positioning
• Strategies for growth
• International expansion
• Movement towards organic and natural products
• Innovations and NPD
• SWOT analysis
• Strengths
  • Strong revenue growth
• Weaknesses
  • Low R&D expenditure
• Opportunities
  • Relocation of production facility in Bangkok
• Threats
  • Increasing raw material costs

Chapter 11 Robertet

• Summary
• Introduction
• History
• Recent financial performance
• Acquisitions and divestments
• Market positioning
• Strategies for growth
• Expansion in US
• Inorganic growth
• Innovation and NPD
• SWOT analysis
• Strengths
  • Geographically diversified operations
• Weaknesses
  • Weak profitability
• Opportunities
  • Expansion of flavor facility in US
• Threats
  • Consolidation

Chapter 12 Frutarom

• Summary
• Introduction
• History
• Recent financial performance
• Acquisitions and divestments
• Market positioning
• Flavors
• Fine Ingredients
• Trade and Marketing
• Strategies for growth
• Focus on core businesses
• Focus on superior customer service and product development
• Expand market position in developed and emerging markets
• Expand position in natural and healthy products
• Focus on research and development
• Enhance profitability
• Innovation and NPD
• SWOT analysis
• Strengths
  • Established global company
  • Strong presence in emerging markets
  • Strong technological base and innovation
• Weaknesses
  • Weak liquidity position
  • Litigations
• Opportunities
  • Growth through strategic acquisitions
• Threats
  • Compliance with environmental regulations
  • Increased competition in fine ingredients

Chapter 13 Other major flavor and fragrance companies

• BASF Aktiegesellschaft
• Company information
• Market positioning and NPD
• Evonik Degussa
• Company information
• Market positioning and NPD
• Kao Corporation
• Company information
• Market positioning and NPD
• Kerry Group
• Company information
• Market positioning and NPD
• Lyondell Chemical Company
• Company information
• Market positioning and NPD
• Ogawa & Co., Ltd
• Company information
• Market positioning and NPD
• Polarome International Incorporated
• Company information
• Rhodia SA
• Company information
• Market positioning and NPD
• Soda Aromatic Co, Ltd.
• Company information
• Market positioning and NPD
• Zeon Corporation
• Company information

Chapter 14 Conclusions

• Summary
• Introduction
• Trends
• Innovation and new product development
• Growth in developing markets
• Strategies for success
• Inorganic growth
• Expanding market position in emerging markets
• Focus on R&D
• Focus on core business
• Outlook
• Index

List of Figures

• Figure 2.1: Turnover of flavor and fragrance divisions in the top 10 players, $m, 2006
• Figure 3.2: Givaudan financial performance, CHFm, 2003-2006
• Figure 3.3: Sales composition by division, 2006
• Figure 3.4: Givaudan revenues, CHFm, 2006
• Figure 3.5: Sales evolution by region, 2005-2006
• Figure 3.6: Givaudan SWOT analysis
• Figure 4.7: IFF financial performance, $m, 2003-2006
• Figure 4.8: IFF R&D spend, 2006
• Figure 4.9: IFF SWOT analysis
• Figure 5.10: Firmenich SWOT analysis
• Figure 6.11: Symrise financial performance, €m, 2005-2006
• Figure 6.12: Symrise SWOT analysis
• Figure 7.13: Takasago financial performance, ¥m, 2003-2006
• Figure 7.14: Takasago SWOT analysis
• Figure 8.15: Sensient financial performance, $m, 2003-2006
• Figure 8.16: Flavors and fragrances, revenue by product line
• Figure 8.17: Color, revenue by product line
• Figure 8.18: Sensient SWOT analysis
• Figure 9.19: T.Hasegawa financial performance, ¥m, 2004-2007
• Figure 9.20: Flavors revenue by product line, 2006
• Figure 9.21: T.Hasegawa SWOT analysis
• Figure 10.22: Mane financial performance, €m, 2003-2005
• Figure 10.23: Sales by business segment, 2006
• Figure 10.24: Mane SWOT analysis
• Figure 11.25: Robertet financial performance, €m, 2004-2006
• Figure 11.26: Robertet SWOT analysis
• Figure 12.27: Frutarom financial performance, $m, 2003-2006
• Figure 12.28: Frutarom SWOT analysis

List of Tables

• Table 2.1: Turnover of flavor and fragrance division in the top 10 players, $m, 2006
• Table 3.2: Givaudan financial performance, CHFm, 2003-2006
• Table 3.3: Givaudan geographical revenues, $m, 2003-2006
• Table 4.4: IFF financial performance, $m, 2003-2006
• Table 4.5: IFF business segment revenues, $m, 2004-2006
• Table 4.6: IFF geographical revenues, $m, 2003-2006
• Table 6.7: Symrise financial performance, €m, 2005-2006
• Table 6.8: Symrise business segment revenues, €m, 2005-2006
• Table 6.9: Symrise geographical revenues, €m, 2005-06
• Table 7.10: Takasago financial performance, ¥m, 2003-2006
• Table 8.11: Sensient financial performance, $m, 2003-2006
• Table 8.12: Sensient business segment revenues, $m, 2003-2006
• Table 8.13: Sensient geographical revenues, $m, 2003-2006
• Table 9.14: T.Hasegawa financial performance, ¥m, 2004-2007
• Table 9.15: T.Hasegawa business segment revenues, ¥m, 2004-2007
• Table 10.16: Mane financial performance, €m, 2003-2006
• Table 11.17: Robertet financial performance, €m, 2004-2006
• Table 11.18: Robertet business segment revenues, €m, 2005-2006
• Table 11.19: Robertet geographical revenues, €m, 2005-2006
• Table 12.20: Frutarom financial performance, $m, 2003-2006
• Table 12.21: Frutarom geographical revenue distribution, $m,
• Table 12.22: Frutarom business segment revenue distribution, $m, 2003-2006