International Flavors&Fragranc Stock Price, News & Analysis

IFF will announce its first quarter 2023 earnings on May 8, 2023, after market close. The company's management will host a live webcast on May 9, 2023, at 9:00 a.m. ET to discuss the results and business outlook with investors. The event can be accessed via the company’s website, with a replay available for those who cannot attend the live session. IFF, a leader in food, beverage, health, biosciences, and scent, focuses on creating innovative solutions and experiences that cater to global market demands. The company emphasizes its commitment to sustainability and collaboration with customers, aiming to deliver high-quality products that enhance lives.

On April 20, 2023, IFF announced the promotion of Trudi Loren to vice president of Global Innovation, Creation and Design, Fine Fragrance. Loren will lead the creative and innovation teams within the Fine Fragrance business unit globally. Her experience spans over 30 years, including significant roles at leading fragrance companies and Estee Lauder. Loren is expected to enhance fragrance R&D innovation and develop new perfumes for the market. Valery Claude, IFF's vice president of Innovation and Creation, expressed confidence in Loren's abilities to elevate the fine fragrance business. IFF, publicly traded on NYSE under the symbol IFF, continues to focus on combining science and art to provide essential solutions across various industries.

On April 19, 2023, IFF announced the launch of its innovative pectin-based technology, VERDIGEL™ SC, enhancing its vegan softgel offerings. This technology aims to cater to rising consumer demand for carrageenan-free supplements, providing manufacturers with a versatile solution without compromising quality or stability. VERDIGEL™ SC only requires the addition of water and a plasticizer, ensuring ease of production. The product aligns with consumer preferences as it is vegan, halal, kosher, and non-GMO, containing no gluten, allergens, or preservatives. IFF will showcase this new technology at Vitafoods Europe in Geneva from May 9-11, highlighting its commitment to meeting evolving customer needs in the nutraceutical sector.

International Flavors & Fragrances (IFF) announces the passing of Dale F. Morrison, Chair of the IFF Board, who died at the age of 74. Morrison had over a decade of experience on the IFF Board, serving as Chair since February 2022. His leadership was pivotal in IFF's global transformation, enhancing its role in the CPG value chain and setting new standards for innovation. Following his retirement due to health issues, Roger W. Ferguson, Jr. has been appointed as the new Board Chair. CEO Frank Clyburn expressed deep sorrow over Morrison's passing and acknowledged his contributions to IFF's strategic direction. Morrison's extensive leadership experience included roles at major companies such as McCain Foods and Campbell Soup Company, and he was recognized for his strategic vision and innovation.

On April 6, 2023, IFF announced a study in collaboration with IRCAM Amplify, exploring the strong connections between sound, smell, emotion, and consumer behavior. The research reveals that sound can elevate purchase intent for scents by 58% in e-commerce contexts, enhancing emotional ties to fragrances. This innovation is positioned to transform online shopping by enabling brands to market new scents digitally, thereby driving business growth. IFF, a leader in scent creation, employs extensive consumer data and AI tools, which, combined with IRCAM's sound design expertise, opens new avenues for scent marketing in various product categories, including home and beauty. The study underscores the potential of a multi-sensory experience to improve user experience and brand engagement.

IFF has successfully achieved a significant milestone in the dietary supplement industry by encapsulating high viscosity liquid and semi-liquid ingredients using its patented SeaGel^® technology. This breakthrough allows for the development of plant-based softgels that rival traditional gelatin products. Notably, IFF has partnered with AQUANOVA AG to encapsulate NovaSOL^® Curcumin in a vegan format, addressing the growing consumer demand for plant-based alternatives. This advancement enhances encapsulation efficiency and is expected to cater to the increasing market for plant-based supplements.

Danisco Animal Nutrition & Health, part of IFF, launched Axtra® PRIME, a new enzyme blend for piglet production aimed at enhancing nutrient digestion and gut health. Available in the U.S., this solution addresses challenges like weaning stress and diet variability, which can negatively impact piglet performance. The blend contains multiple enzymes, including xylanase and protease, and has shown promising results in improving growth rates and overall profitability for producers. IFF continues its commitment to innovative solutions in animal nutrition to support better health outcomes and operational efficiency.