Taste & Wellbeing: Givaudan signals nutritional focus with Flavour name change
Effective immediately, the Swiss flavours and fragrances companyâs Flavour Division will be known as Taste & Wellbeing.
The new name, according to Givaudan, better reflects the companyâs growing interest in wellbeing â a portfolio which encompasses âwellbeing and nutritional focused-solutionsâ, we were told.
Givaudan has expanded its flavours portfolio âin a significantâ way over the past five years. âWe have a specific range of products designed for the health market space, such as botanical extracts with health benefits backed by clinical studies,â âDivision President Louie dâAmico told FoodNavigator.
âAs part of the strategic additions we have made to our offering, we have the opportunity to own more of the customer challenge and play a critical role delivery healthy food experiences that consumers value.â â
FoodNavigator asked dâAmico if the name change reflects growing demand for âwellbeingâ products since the outbreak of COVID-19. âThe current situation has, of course, put health and wellbeing high on the agenda for consumers, but this is part of a wider ongoing health, nutrition and wellbeing trend.â
âWe are seeing this trend drive consumer demand across all regions for food that supports healthy living and positive nutrition without compromising on taste.â â
In the same announcement, Givaudan said it has also changed the name of its Fragrance Division, which will now be known as Fragrance & Beauty.
COVID impacts and a new 2025 Strategyâ
The new division names come as Givaudan announces its 2025 Strategy.
In it, the company outlines plans to further expand its current portfolios through M&A, to âbetter respond to consumer demand for products that support health and wellbeing, positive ageing and changing lifestyles, whilst meeting their ethical and responsible business expectationsâ. â
From a financial standpoint, Givaudan says it aims to delivery average organic sales growth of 4-5% on a like-for-like basis, and average free cash flow of at least 12%, by 2025.
This comes after the company struggled to maintain business activity in certain divisions in the first half of 2020, due to COVID-19. Overall, the company said it âsustained strong business momentum whilst maintaining its operations and global supply chain with minimal disruptionâ âand achieved âgood growthâ across most product segments and geographies.
However, Fine Fragrance and to a lesser extent Active Beauty in the Fragrance division, and Foodservice in the Flavour division experienced âa significant reductionâ in business activity between March and June this year.
âNevertheless, we have been highly focussed on maintaining our activities throughout the crisis and have seen strong demand in specific segments of our portfolio,â âdâAmico told this publication.
âWhilst visibility remains short and a number of key markets remain in the grip of the COVID-19 crisis, we have confidence in our business and as such our ability to meet our 2020 targets.ââ