INTERNATIONAL FLAVORS & FRAGRANCES INC (IFF)

International Flavors & Fragrances (IFF) is a global creator and manufacturer of food, beverage, health & biosciences, scent, and pharma solutions, along with adjacent products such as cosmetic actives and natural health ingredients, used across a broad range of consumer products. The company reported 2022 sales of approximately $12.44 billion, with about 42% from global consumer products companies and 58% from small and mid-sized companies; its top 25 customers accounted for 28% of sales, none individually exceeding 10%. Geographically diverse, IFF generated about 29% of sales in the U.S., with no other single country exceeding 6%.

The company operates through four segments—Nourish, Health & Biosciences, Scent, and Pharma Solutions—and is transitioning toward a reorganized structure around Food & Beverage, Household & Personal Care, and Health end markets. The Nourish segment provides natural-based ingredients for nutrition, texture, and taste across food and beverage categories, including Ingredients, Flavors, and Food Designs units; it announced the planned sale of its Savory Solutions Group, expected to close in 2023. The Health & Biosciences segment develops biotechnology-derived enzymes, cultures, probiotics, and specialty ingredients for food, personal care, animal nutrition, and industrial applications, following the 2022 divestiture of its Microbial Control business.

The Scent segment creates fragrance compounds, ingredients, and cosmetic actives for perfumes, personal care, and household products. The Pharma Solutions segment manufactures cellulosics and seaweed-based excipients used in pharmaceutical and dietary supplement formulations, along with specialty industrial applications. IFF emphasizes innovation through extensive R&D operations (about 3,200 employees globally, with 940 U.S. patents granted and 546 pending) and consumer insight-driven product development across its global creative centers.

The company operates roughly 220 manufacturing and R&D facilities in about 45 countries, sourcing around 30,000 raw materials, and is undergoing a facility optimization initiative expected to close about 30 manufacturing sites by the end of 2023. IFF maintains a comprehensive ESG strategy, the “Do More Good Plan,” targeting 2030 goals in environmental stewardship, social equity, governance transparency, and sustainable solutions, and has received multiple sustainability and workplace recognitions. The company operates within a highly competitive global market, facing rivals such as Givaudan, Firmenich, Symrise, DSM, Kerry, ADM, Novozymes, and Chr.

Hansen, competing on innovation, sustainability, vertical integration, and customer-tailored solutions. As of December 31, 2022, IFF employed approximately 24,600 people worldwide, with about 5,500 in the United States, and its operations are subject to extensive global regulatory oversight covering food, pharmaceutical, environmental, and chemical safety standards.