Fragrance and beauty sales are driving Givaudan's sustained growth, following a turbulent market brought on by the coronavirus pandemic.
For the first nine months of 2021, the privately-held fragrance and flavours provider saw its fragrance and beauty sales inflate 8.4% on a like-for-like basis.
Fine fragrance and active beauty were among Givaudan’s best-performing segments, as retail actively picked up and customers utilised direct-selling and e-commerce channels.
Sales of fragrance ingredients and active beauty grew 14.8%, a 14% up on comparable growth the previous year.
Meanwhile, fine fragrance sales shot up almost 30%, driven by a significant rebound in prestige fragrances and specialty retail, said Givaudan.
The rebound compares to a 11.3% decline seen in the first nine months of 2020, as Covid-19 significantly impacted an appetite among customers for fine fragrances.
“I am very happy with our continued strong performance across all parts of our business and in particular the ongoing recovery in fine fragrances, active beauty and in foodservice,” said Givaudan’s CEO Gilles Andrier.
“We have made excellent progress in our 2025 strategic growth initiatives and whilst the external environment still contains many uncertainties, we have demonstrated a strong focus on execution, in supporting our customers and in playing an important role in the global supply chain in food and beverage, as well as household, health and personal care products.”
Having weathered the storm of the pandemic, Givaudan is looking ahead to its 2025 ambitions.
Three main areas of growth have been identified: expanding the portfolio, extending customers reach and focused market strategies.
A target of 4-5% increase of organic sales growth has been set in place for 2025.
