Developing Better Products

through Natural Chemistry

Penta Manufacturing Company is Family Owned and Operated for Over 40 Years.

Here is a partial listing of our Family of Gums and Resins utilized in many formulations.
For detailed paperwork on all of our items consult our web site at www.pentamfg.com

■■ARABIC GUM ■■LOCUST BEAN GUM

■■BALSAM PERU RESIN ■■MYRRH GUM POWDER
■■BENZOIN GUM RESIN ■■MYRRH GUM RESIN PIECES
■■BENZOIN SIAM RESIN ■■MYRRH RESINOID
■■BENZOIN SUMATRA RESIN ■■OAKMOSS RESIN
■■CASTOREUM ABSOLUTE RESIN ■■OLIBANUM GUM
■■DAMMAR GUM ■■OPOPONAX RESIN
■■ELEMI RESIN ■■PODOPHYLLUM RESIN
■■GALBANUM RESIN ■■STYRAX RESIN
■■GHATTI GUM ■■TOLU BALSAM RESIN
■■GLYCERYL ROSINATE ■■TRAGACANTH GUM
■■GUAR GUM ■■XANTHAN GUM
■■KARAYA GUM
■■LABDANUM RESIN

For a complete list of all our natural, natural identical and synthetic ingredients
visit us at our www.pentamfg.com

Penta Manufacturing Company

A Division of Penta International Corporation

50 Okner Parkway, Livingston, New Jersey 07039-1604 Phone: (973) 740-2300 Fax: (973) 740-1839
E-Mail: sales@pentamfg.com Web: www.pentamfg.com

PF1807_penta_july2018.indd 1 6/1/18 10:44 AM

 July 2019 | Vol. 44 no. 7
www.PerfumerFlavorist.com

2019 F&F Leaderboard:

Diversifying Portfolios, Partnerships and Company Culture

Frankincense
and Myrrh
Hexyl Butyrate
and Hexanoate

Woods, Gums
and Resins WANT MORE?
Check out our digital edition exclusives!
www.PerfumerFlavorist.com/DE

PF1907_cover.indd 1 6/13/19 2:34 PM

 DELIGHTING
YOUR
SENSES For Over 30 Years
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The life science business of Merck KGaA,

Darmstadt, Germany operates as MilliporeSigma
in the U.S. and Canada.

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2018-11971

PF Full Page.indd 1 5/21/19 10:43 AM

PF Full Page.indd 1 6/4/19 4:50 PM
 CONTENTS VOL. 44 NO. 7 | JULY 2019

FLAVOR
22 12 Flavor Bites: Hexyl butyrate and Hexanoate
By John Wright
Fresh and “fuzzy,” hexyl butyrate and hexanoate both have
complex fruity profiles that can be used in a range of orchard
fruit, tropical fruit, berry, dairy and other flavor applications.

76 Organoleptic Characteristics of Flavor Materials

By Judith Michalski
This month’s column features discussions on maté absolute,
methyl ketone mix, ethyl-5-hydroxydecanoate, benzoin siam
resinoid and more.

FRAGRANCE
16 Frankincense and Myrrh and Its Socio-Economic Impact
By Peter Greenhalgh, IFEAT Study Tour Coordinator
For approximately 10,000 people in northern Somalia, the
coveted perfumery ingredients, frankincense and myrrh,
provide an economic opportunity and way of life.

DE1 Frankincense: Scent of the Spirit Realm

By Alexis Palmer Karl
Frankincense is a resin, but further, it is a binding of ritual
and history: elastic in its use and meaning, it has served in
both religious and occult practices, rising and falling with the
hubris of mankind’s beliefs.
Visit perfumerflavorist.com/DE for your Digital Edition.

INGREDIENTS
8 Product Roundup: Woods, Gums and Resins

16 INDUSTRY
6 Editor’s Note: A Conversation on Diversity

10 Industry: News and Analysis

22 2019 Flavor & Fragrance Leaderboard

The F&F industry has moved beyond traditional business,
establishing stakes in alternative proteins, artificial
intelligence, nutrition and renewables, among others. This
year’s leaderboard features perspectives from executives
leading the top companies to grow beyond the traditional
business model.

12 80 Worldwide Sources / Ad Index

2 Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_TOC-Masthead_fcx.indd 2 6/13/19 2:36 PM

 BROAD PORTFOLIO
WITH THE

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Untitled-2 1 1/24/18 3:19 PM

 EDITORIAL

76 Editor in Chief
Managing Editor
Assistant Editor
News Editor
Jeb Gleason-Allured | 1-630-344-6069/jallured@allured.com
Deniz Ataman | 1-630-344-6070/dataman@allured.com
Ryan Daily | 1-630-344-6058/rdaily@allured.com
Eden Stuart | 1-630-344-6053/estuart@allured.com

ADVERTISING SALES
Associate Publisher Paige Crist | 1-630-344-6060/pcrist@allured.com
Advertising Coordinator Kasia Smialkowski | 1-630-344-6025/ksmialkowski@allured.com

AUDIENCE DEVELOPMENT
Marketing Specialist Bianca Esposito
Customer Service 1-847-559-7554/customerservice@perfumerflavorist.com

DESIGN
Design Manager Kim Fry
Senior Graphic Designer Hon Bannapradist
Production Manager Bryan Crowe

CORPORATE
Partner & CEO George Fox
Partner & President Janet Ludwig
CFO Rich Winters

DE1
Director of Events Maria Prior
Digital Products Director Rose Southard
Executive Assistant Maria Romero

OTHER ALLURED PRODUCTS

Flavorcon
Allured Business Media World Perfumery Congress
1-630-653-2155 • fax 1-630-653-2192 Cosmetics & Toiletries magazine
Cosmetics & Toiletries Bench Reference
336 Gundersen Drive, Suite A
Cosmetics & Toiletries magazine: Portuguese edition
Carol Stream, IL 60188-2403 USA
Global Cosmetic Industry magazine
www.Allured.com
Beauty Accelerate
Skin Inc. magazine
Face & Body Midwest spa expo and conference
Face & Body Northern California spa expo and conference
Face & Body Southeast spa expo and conference

SUBSCRIPTIONS
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4 Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_TOC-Masthead_fcx.indd 4 6/13/19 2:36 PM

PF Full Page.indd 1 5/21/19 10:29 AM
 Editor’s Note

A Conversation on Diversity

I
t’s no coincidence
that the more the
F&F industry faces
the public, the
more initiative is placed
on improving corporate
culture and environmental
awareness. We’re seeing
more programs and
DENIZ ATAMAN
certifications in place by
Managing Editor
F&F companies to address
dataman@allured.com
corporate sustainability for employees, customers and the environment. As
the platform for the flavor and fragrance industry, it’s important for Perfumer
& Flavorist to address our readers’ concerns and ideas surrounding industry
P&F Magazine culture and innovation. One issue that couldn’t be timelier is addressing the lack
Editorial Advisory Board of women and diversity in leadership positions. While we receive submissions
for articles and talks from all around the world, which in and of itself creates a
diverse mix, we can always do more.
CARLOS BENAÏM The F&F industry is unique in that it’s self-regulated, creative, technologically
Master Perfumer, Vice President advanced and positioned as an advocate and protector of nature’s biodiversity
International Flavors and Fragrances and it’s wonderful to see many F&F companies expanding their corporate culture.
From start-ups to multi-nationals we are seeing companies in the industry
PATRICK DUNPHY, PH.D. embrace inclusivity, diversity and equal pay. The more diverse the workplace, the
Independent Vanilla and more authentically we can connect with our customers. And the more authenti-
Flavor Consultant cally we connect with our customers, the more our businesses can grow. It’s a
fruitful feedback loop – ending gender inequality in the workforce could boost
MATTHIAS GUENTERT, PH.D. productivity by 16%, according to stats from the World Economic Forum.
Independent Flavor and Food We’re seeing more certifications and acknowledgements towards gender
Consultant equality in F&F news. Most notably, Firmenich recently received the global
EDGE certification for gender equality in the workplace. In the spring, Laure
JUDITH MICHALSKI Moutet Manheimer was the first woman to receive the prestigious Eric Bruell
Senior Flavorist Distinguished Service Award during the Fragrance Creators Association spring
abelei Flavors dinner. IFF is tackling discrimination against lesbian, gay, bisexual, transsexual
and intersex (LGBTI) individuals by signing on to the United Nations Global
JOHN WRIGHT LGBTI Standards of Conduct for Business. Organizations like the Women in
Independent Flavorist and Author Flavor and Fragrance Commerce (WFFC) offer incredible opportunities for
members to grow professionally, as well as recognize women who have made
JOHN CAVALLO, PH.D. significant contributions towards the modernization of the industry. Givaudan’s
Senior Vice President of Technology
We Lead program offers a forum for budding female professionals to receive
& Commercial Development,
professional development and advancement. Yet, it’s 2019, and as an industry and
Citromax
as a society we still lack diversity in leadership positions. Once we stop having to
acknowledge these milestones, we know we’ve made it because then equality will
be the norm. What can we do to make sure we’re providing the tools to create a
broader platform to hold more dynamic voices in the industry?
And with all of this said, I’d like to hear from you on what we can do to
include individuals from all backgrounds who are making differences and blazing
trails in F&F. Tell us what your organization is doing. We want to hear from you.
If you have ideas or thoughts, please feel free to contact me directly:
dataman@allured.com.

I hope you enjoy this issue.

With warmth from Brooklyn,

Deniz Ataman

6 Editor’s Note Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_EdNote_fcx.indd 6 6/13/19 2:39 PM

 



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PF Full Page.indd 1 5/21/19 8:47 AM

 Product Roundup [Raw Materials, Equipment & Services]

Woods, Gums and Resins

Symroxane alpha-Ionone
Symrise AG
www.symrise.com
Symroxane unites velvety, woody elements, vetiver and dried fruit
aspects with a hint of tobacco and amber. Especially in the field of fine
fragrance and personal care, Symroxane reveals its excellence. Escape
the ordinary and use Symroxane, one of our renewable specialties, as
your key for exclusive and lively creations.
Natural Advantage
www.natadv.com
Natural Advantage introduces natural alpha-Ionone (FEMA# 2594, CAS#
127-41-3). Alpha-ionone occurs naturally in Burley tobacco, tea and
whiskey. It is best described as having the characteristics of warm violet,
raspberry, woody, floral and sage aromas. Due to its woody, piney or citrus
characteristics, it is widely used in fragrances as well as tobacco and tea
flavors. At certain dilution, alpha-Ionone possesses impressive cedarwood
nuances. Recommended use level: 0.01 to 10 ppm as consumed. EU and
US natural, kosher, non-GMO.

Driftwood - M_0063658 (1S)-(-)-a-Pinene, natural, ≥97%, FCC, FG

Mane
www.mane.com
Driftwood is a specialty created with Ambramone, a Mane captive molecule.
It unveils radiant ambery scent with elegant facets. At an affordable price in
the woody family, it can be used in oriental or woody accords. Driftwood also
blends well with fruity or green notes, creating a powerful distinctive character.
MilliporeSigma
www.sigmaaldrich.com/flavors-fragrances
FEMA# 2902 is citrus, spicy with pine and turpentine like nuances. It
imparts a fresh herbal and slight cooling camphoreous lift. It also offers
an herbal, spicy and slight tropical aftertaste. Our product is certified food
grade, natural, halal, kosher and follows the IFRA guidelines.

8 Product Roundup Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_Roundup_fcx.indd 8 6/13/19 2:41 PM

 Photographer Didier D. Daarwin
Getty Images/Albert Mollon - Offset/Marco Govel.

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5/21/19 10:45 AM
 Industry

PEOPLE NEWS

Firmenich Appoints Paul Andersson President of China Division

Firmenich has appointed Paul Andersson presi-
dent of Firmenich China. In his new role Andersson
will be tasked with accelerating expansion in the
company’s second largest market.
Over the last 30 years Firmenich’s investments
in China have included its largest flavor manufac-
turing plant in the world, located in Zhangjiagang;
operations in Shanghai and Kunming which serve
its perfumery and ingredients business; a research
center in Shanghai; and commercial facilities
with application laboratories in Shanghai, Beijing
and Guangzhou.
“Firmenich has great ambitions in China,” said
CEO Gilbert Ghostine. “Lately we have been accel-
erating our strategic investments here, as reflected
by our partnerships with Layn and ArtSci, and most
recently the launch of our largest flavor plant in lead a new chapter of innovation and expansion for
the world in Zhangjiagang. With Paul’s outstanding Firmenich in China’s thriving and highly digitally-
leadership credentials and strong business partner- savvy market,” added Andersson. “I look forward
ships developed over the past 35 years, he is the right to mobilizing our unique set-up in China, cutting
leader to take Firmenich’s innovation and excellence across leading research, creativity, commercial and
to new heights for our customers across China.” production facilities and expertise, to shape locally-
“Having spent over 7 years in Asia during my relevant and highly differen­tiating technologies for
career, I am excited to be moving to Shanghai to Chinese consumers.”

EFFA Appoints Bo Dohmen as Public Affairs Officer

Bo Dohmen has joined the European Flavour
Association (EFFA) as public affairs officer.
A native of the Netherlands, Dohmen is fluent
in English, French and Spanish, with a working
knowledge of Swedish and German. Prior to joining
EFFA, she worked for a public affairs consultancy
in Brussels.
“We are very pleased to announce this new
appointment,” said EFFA executive director
Alexander Mohr. “Bo brings to this position some
solid public affairs experience, having worked in
European advocacy consultancies over the last years.”
“I am very excited to join the EFFA team today,”
added Dohmen. “The flavor industry is playing a
significant role in the food and drink sector and I am
very much looking forward to further contributing to
highlight the benefits of flavors to our stakeholders
and customers alike.

Reproduction in English or any other language of all or part of this article is strictly prohibited. © 2019 Allured Business Media.

10 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_Industry_fcx.indd 10 6/13/19 2:43 PM

PF Full Page.indd 1 6/13/19 5:16 PM
 Flavor Bites: Hexyl butyrate
and Hexanoate
Fresh and “fuzzy,” hexyl butyrate and hexanoate both have
complex fruity profiles that can be used in a range of orchard
fruit, tropical fruit, berry, dairy and other flavor applications.

T
BY JOHN WRIGHT he complex families of related chemicals found in many
johnwrightflavorist@gmail.com natural foods gave rise to several different historical creative
approaches. One approach was to take the chemical that
was subjectively the most effective and use it alone at an
exaggerated level. This approach certainly worked. It may
not have resulted in the most subtle or authentic flavors, but it lay behind
many best-selling creations. The opposite approach was to assume
everything was there “for a reason” and had to be included. Creativity was
expressed by adjusting the levels of the different chemicals. This, rather
more academic, approach also worked, and resulted in many fine flavors.
The drawback was the higher than optimal level of complexity, which
reduced the impact of the flavor. Perhaps the best approach lies in between
these two extremes.
Last month, we looked at hexyl acetate (FEMA# 2565, CAS# 142-92-7).
It is often accompanied in nature by a very complex list of related hexyl
esters. Two of these stand out from the herd. Hexyl butyrate (FEMA# 2568,
CAS# 2639-63-6) and hexyl hexanoate (FEMA# 2572, CAS# 6378-65-0).

Reproduction in English or any other language of all or part of this article is strictly prohibited. © 2019 Allured Business Media.

12 Flavors Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_Wright_fcx.indd 12 6/13/19 2:43 PM

 All three chemicals have complex fruity profiles, the
acetate accentuates pear and the hexanoate accen-
tuates passionfruit. The butyrate lies in between.
All three esters share similarly challenging “fuzzy”
attributes, perhaps best described as fresh, and often
work well in combination. The best ratio of the three
esters varies considerably with flavor profile.
Note that the dose rates given throughout this
article are the levels suggested for use in flavors
intended to be dosed at 0.05% in ready-to-drink
beverages or in a simple bouillon.

Orchard Fruits
Apple: Hexyl butyrate and hexyl hexanoate both
work to round out the dominant notes of hexyl
acetate. Both should be used in the region of 1,000
ppm and add significantly to taste effects.
Apricot and Nectarine: Apricot and nectarine
flavors are naturally quite deep in character. Hexyl
butyrate is best used at around 500 ppm. Hexyl
hexanoate adds subtle realism to the taste profile at
100 ppm.
Cherry: Hexyl butyrate adds an attractive effect
of fresh fruit at 100 ppm in authentic style flavors.
Hexyl hexanoate also works to improve taste at
similar or slightly lower levels, nearer 50 ppm.
Peach: Hexyl hexanoate functions very well in
fresh peach flavors and can be used at around 400
ppm. Hexyl butyrate can be used at the same level
in many “skinny” peach flavors. Lower levels, nearer
100 ppm, work better in more subtle, authentic,
fresh flavors.
Pear: This relative balance between the butyrate
and hexanoate is also effective in fresh, ripe pear
flavors. Hexyl butyrate should be added at 1,000 ppm
and hexyl hexanoate much lower, around 100 ppm.
Plum: Hexyl butyrate should take the lead in
plum flavors. An ideal level of addition is 2,000 ppm.
Hexyl hexanoate should be added at 500 ppm. The
use of the three esters in combination is especially
beneficial in this interesting flavor category.
Tropical Fruit Flavors
Banana: Hexyl butyrate at 800 ppm, in conjunc-
tion with around 100 ppm of hexyl hexanoate, work
to improve any banana flavor by adding freshness
and depth of taste.
Guava: Hexyl butyrate is easily the most useful of
the three hexyl esters in guava flavors. A good start-
ing point is 1,000 ppm. Hexyl hexanoate completes
the picture at 500 ppm, adding freshness and cover-
ing cloying notes.

13

PF1907_Wright_fcx.indd 13 6/13/19 2:43 PM

 Flavor Bites
Kiwi: Hexyl butyrate is also the king of this com-
bination in kiwi flavors. A good level is 1,500 ppm.
Hexyl hexanoate should only be used at a low level,
around 100 ppm, to avoid tilting the delicate profile
towards passionfruit.
Mango: The ideal combination of hexyl esters
to emphasize the juicy notes in mango flavors uses
similar quantities, around 500 ppm, of all three. If
required, taste effects can be enhanced even further
by raising hexyl hexanoate to 1,000 ppm.
Melon, Cantaloupe: Cantaloupe melon flavors
happily incorporate even higher levels of all three
esters, in the range of 1,000-2,000 ppm, depending
on the degree of juiciness required.
Papaya: Papaya flavors are better served by
modest levels, around 20 ppm, of hexyl butyrate.
Hexyl hexanoate can be used at slightly higher levels,
up to 100 ppm.
Passionfruit: Hexyl hexanoate really comes into
its own in passionfruit flavors. A good starting level
is 5,000 ppm, paired with around 3,000 ppm of
hexyl butyrate.
Pineapple: The ideal ratio of the three hexyl esters
is quite similar in pineapple flavors, but the levels
are, understandably, much lower. Hexyl butyrate
should be added at around 500 ppm and hexyl hex-
anoate at around 1,000 ppm. This combination adds
a fresh, tropical character and elusive sweetness.
Pomegranate: Hexyl butyrate, at around 2,000
ppm, and hexyl hexanoate, at around 1,500 ppm, help
to overcome the dominant iso-amyl esters and their
combined effect enhances hexyl acetate immensely.
Watermelon: Levels of all three esters are lower
in watermelon than in other melon categories. Hexyl
14 Flavors Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Wright_fcx.indd 14
butyrate should be used at around 500 ppm and
hexyl hexanoate at around 200 ppm.
Berry Flavors
Blackberry: All three esters can be used in black-
berry flavors at very similar levels, around 800 ppm,
giving a lovely, juicy, fresh boost to the profile.
Blackcurrant: Hexyl acetate should be the domi-
nant partner in realistic blackcurrant flavors. Hexyl
butyrate, at 400 ppm, and hexyl hexanaote, at 100
ppm, play useful, but distinctly secondary, roles.
Blueberry: The same comments apply to blue-
berry flavors. Hexyl butyrate should be used at one
hundred ppm and hexyl hexanoate at a mere 50 ppm.
Cranberry: Similar levels, around 200 ppm, work
best in cranberry flavors, a profile where fresh, juicy
notes are especially welcome.
Raspberry: Hexyl acetate is slightly in the lead in
realistic raspberry flavors, but hexyl butyrate, at 500
ppm, and hexyl hexanoate, at 300 ppm, round out
the profile nicely.
Strawberry: A similar balance works for strawberry
flavors, adding hexyl butyrate and hexyl hexanoate,
both at around 200 ppm, to emphasize freshness.
Dairy Flavors
Butter and Cheese: Hexyl butyrate at 50 ppm
and hexyl hexanoate at 20 ppm add subtle freshness
to cheese and butter flavors, especially Cheddar
cheese styles.
Cream and Fresh Milk: Slightly lower levels,
20 ppm of both hexyl butyrate and hexanoate are
helpful in cream and milk flavors.
Other Flavors
Bacon and Ham: The effect of adding these three
esters to bacon and ham flavors is extremely subtle
but still useful. Hexyl butyrate and hexyl hexanoate
should both be added at 50 ppm.
Grape, Concord: Hexyl butyrate should be added
to Concord grape flavors at the same level as hexyl
acetate, 500 ppm. Hexyl hexanoate plays a lesser
role at 200 ppm.
Rum, Brandy and Whisky: Hexyl butyrate
and hexyl hexanoate serve to quietly lift all
spirit flavors, both at around 50 ppm.
Tea: Unlike hexyl acetate, both the butyrate
and the hexanoate are better suited to black tea
flavors than green tea flavors. Levels of use for
both esters are in the region of 100 ppm or lower.
Tomato, Fresh: Hexyl butyrate is the most
useful ester of the series in fresh tomato flavors
and can work well at 300 ppm. Hexyl hexanoate
is also helpful, but at a lower level of addition,
nearer 50 ppm.
6/13/19 2:44 PM
PF Full Page.indd 1 5/21/19 8:26 AM
 Frankincense and Myrrh and
Its Socio-Economic Impact
For approximately 10,000 people in northern Somalia, the coveted perfumery ingredients,
frankincense and myrrh, provide an economic opportunity and way of life.

*This report was published from the Socio-Economic Reports compiled by the International Federation of
Essential Oils and Aroma Trades (IFEAT). The research for this report was conducted in 2016/17 and published
in IFEATWORLD in July 2017.

BY PETER GREENHALGH, IFEAT Study Tour Coordinator

Reproduction in English or any other language of all or part of this article is strictly prohibited. © 2019 Allured Business Media.

16 Ingredients Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_IFEAT_fcx.indd 16 6/13/19 2:45 PM

 B
oth frankincense and myrrh (F&M)
grow as small trees or shrubs; they
are both of the botanical family
Burseraceae. Frankincense (also
called olibanum) is classified as
belonging to the Boswellia genus,
while myrrh is obtained from trees
of the Commiphora species. The
nomenclature of these products is both complex
and confusing. Thus, there are numerous species
and varieties of F&M trees, each producing a
slightly different type of resin. Differences in soil
and climate create even more diversity of the resin,
even within the same species. The primary species
relied upon today are Boswellia carterii (Somalia)
and Boswellia papyrifera (Ethiopia) for frankincense
and Commiphora myrrhae for myrrh. Robert S.
Pappas argues that frankincense should also be
classified by chemotype as well as species and
discusses the five main chemotypes that encompass
the five main species.1
Political instability, combined with geographic
isolation and the nomadic nature of much of the
collection area, makes it almost impossible to get
accurate data. According to A. Y. Farah, officials of
the Frankincense and Gums Development and Sales
Agency reasonably estimated that the number of
families in northern Somalia alone that primarily
depend upon incense gathering is around 10,000
and the occurrence of commercial frankincense,
“is absolutely crucial to the subsistence of a large
number of the regional population.”2 More recently,
in 2013, Zahra Osman Guelleh of Neo Botanika
(Somaliland), a trader in aromatic gums and resins
and their essential oils, stated that: “For many
villagers, the collection of gum often represents
their only opportunity to earn cash and this is
particularly important for the financing of signifi-
cant events such as weddings, funerals or for the
purchase of food stocks.”
F&M are tree resins produced in East Africa,
particularly Ethiopia, Somalia, Somaliland and
Puntland, the southern Arabian Peninsula, particu-
larly Yemen and Oman, and the Sahelian region of
Africa. Other producing countries include Sudan,
Kenya, Chad, Central African Republic, Cameroon
and Uganda. The trees are found in very exposed
and arid or semi-arid regions with poor organic
soil composition.
Tapping Trees
Most resin (whether F or M) is obtained either
by collecting the exudate or more commonly by
the tapping of wild growing trees. Tapping involves
making deliberate incisions into the bark of the tree.
The resin is left to exude from the tree and harden
PF1907_IFEAT_fcx.indd 17
for a few days. The collector then returns to collect
the hardened gum and re-mark the tree for more
gum to start exuding. Resins are usually collected
every 10 to 15 days.
F&M is predominantly a traditional trade under-
taken by nomadic communities and networks that
has been in existence for thousands of years. Tapping
is done by traditional means by indigenous com-
munities, including local farmers and villagers, with
nomadic traditions and is often undertaken along-
side other activities, including herding. Collection
is, at times, carried out by pastoralist peasants who
include poor members of the community, women
and/or children, as they collect water and wood fuel
or tend small stock or by organized tappers/collec-
tors. It is not an organized or agricultural type of
harvesting, but rather a wild craft method.
Political instability,
combined with geographic
isolation and the nomadic
nature of much of the
collection area, makes it
almost impossible to get
accurate data.
The collection of the resin occurs at a particular
time and season, varying between regions. The gum
activity is concentrated during the very low vegeta-
tive activity period when the trees have no leaves.
Tapping occurs during the dry season from trunks
and branches. The particular details of the tapping,
such as the time of year it is undertaken, its dura-
tion, and the interval between individual tapping,
varies according to the species and the customs in
the area of production. For example, in Somalia
there are usually two periods when Boswellia is
tapped, each lasting three to four months, involving
successive tapping at approximately 15-day intervals,
with the timing of the tapping periods dependent
upon the onset and extent of the rains.
17
6/13/19 2:45 PM
 Frankincense and Myrrh and Its Socio-Economic Impact
Most resin is obtained by the tapping of wild growing trees, which involves making deliberate incision into the back of the tree and letting resin exude and then harden.
Processing Frankincense and Myrrh
After the gum has been tapped and collected into
bags and packaging, the villagers or farmers collect
the gum and store it in an excavation, cave or some
kind of camp, to accumulate for some time while
they are harvesting in a certain region. This probably
contributes to the stabilization of the gum resin.
Finally, after sufficient quantities have been col-
lected, they are brought to the village or town, where
the material is classified, graded and traded. All this
is done manually. The resin is stored for about 12
weeks to harden. The only processing undertaken
after collection is the sorting and grading of the resin
globules. This is usually done by the local merchant
to whom it is sold rather than by the collector.
The cleaning process is undertaken in the collec-
tion centers where the primary material ranges from
being as white as milk to a deep dark red. Following
18 Ingredients Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_IFEAT_fcx.indd 18
cleaning, sieving, sorting and picking, the material
finally ends up graded by color or size. After the
material is cleaned, the trader comes to negotiate
the purchase and export of the product. Most of the
product is exported in this form, although there is a
local market for chewing frankincense.
Further processing is predominantly undertaken
in the importer’s country and depends on usage.
The resins are used in unprocessed form for both fra-
grance and flavor purposes, distilled to yield volatile
oils with characteristic and balsamic odors used
in perfumery. Solvent extracts are also prepared as
resinoids and absolutes used as fixatives in perfumes.
Although the bulk of processing was undertaken
outside the gum-producing countries, processing
plants have been set up in Somaliland, Kenya and
Oman. This indicates a clear evolution in the F&M
supply chain.
6/13/19 2:45 PM
 Typically, frankincense is produced by water
distillation and not usually by steam injection, with
diesel thought to be the major energy source. Oil
yields from processing appear to vary considerably
and Pappas quotes the following oil yields. Boswellia
serrata, primarily of Indian origin, is often very
rich in oil content with oil yields of around 10% or
more. High oil yields and low odor quality result in
low prices. Boswellia sacra, which is typically from
Oman and is an oil-rich resin, yields around 9-10%.
Boswellia carterii and Boswellia frereana, usually
from Somaliland, typically has oil yields of 5-6% and
around 2% range respectively.1
Fine Fragrance to Pharmaceutical
Applications
The markets and end-uses for the resins fall into
three main sectors: fragrance (chiefly for incense
use – either in religious ceremonies or around
the home but with some fine fragrance applica-
tions); flavor (principally ‘maidi type’ for chewing
but with some minor uses of the oils as flavoring
agents such as mouthwashes); and pharmaceutical
applications. Both F&M were known for centu-
ries in folk medicine and are used now in some
medical products and in aromatherapy in the form
of resins (incenses), oleoresins and essential oils.
All of the products show antimicrobial properties
and for that purpose were and are widely used in
Chinese and Ayurveda medicine. Frankincense is
also used to relieve depression and anxiety and
myrrh has analgesic properties and is used in the
treatment of rheumatic pain and arthritis. Both
are present as additives to mouth care products
and toothpastes and are also used in a variety of
skin care products. Incense was commonly used
to disinfect air in churches and homes and this
tradition has remained until recently in different
religious liturgies. Incense is, without question, its
greatest use, and in addition to Eritrean-type frank-
incense being used by the Orthodox and Roman
Catholic Churches, China is believed to be using an
PF1907_IFEAT_fcx.indd 19
increasing proportion of its imports for the manu-
facture of incense sticks rather than, as previously,
for traditional medicines.
The F&M markets operate under various con-
straints and challenges. Some of the production
constraints include: inconsistent quality, tapping
or cleaning processes leading to variable grades;
regulatory measures and forest management
programs and practices are often poor or lacking,
reflecting the poverty of the regions; land degrada-
tion, clearance and use of wood for fuel can, in the
long term, threaten supplies, if unabated; climatic
changes, which can affect the timing and length
of the dry season when harvesting is undertaken;
deforestation, livestock over-grazing and changes
in land use, will affect production levels; political
instability, military and border conflicts, particu-
larly in Somalia and between Ethiopia and Eritrea;
lack of tree tenure in some countries to guarantee
incentives to farmers and pastoralists in order to
conserve and manage the woodlands. In addition,
Sadqa Haq, CEO Lubanchem, argued that NGO
provision of food to nomads in the Horn of Africa
during the last drought five years ago was reduc-
ing the incentive to collect resins. She now reports
that the situation on the ground has changed and
the pastoralists have formed collectors’ groups,
especially in north eastern Kenya, and are more
focused on obtaining high quality resins for the
markets. This change in attitude is very promis-
ing for the conservation of the indigenous resin
producing trees.
There are also various marketing constraints,
which include changes in market demand, little
marketing or trade registration (including very
limited export or import statistics) and the threat
from synthetic products. However, the use of F&M
depends on their characteristic fragrance properties
rather than functional properties and this makes it
much more difficult for them to be substituted.
19
6/13/19 2:45 PM
 Frankincense and Myrrh and Its Socio-Economic Impact
By the Numbers
Frankincense is traded in the greatest volumes
and is available in the largest number of different
grades. It ranges in appearance from pale pieces or
tears up to several centimeters in size, to smaller
pieces, and from powder and siftings to large, red-
dish-brown or dark agglomerated masses. Myrrh is
traded in smaller volumes and has fewer clean, pale
grades to choose from. All the resins have a fragrant
aroma due to the presence of essential oil and this
accounts for their commercial importance.
It is difficult to trace the exact volume of trade
in F&M. In very recent years, France, the UK and
the United States have been reported as sizeable
importers of frankincense resins for further pro-
cessing. Guillaume Delaunay, founder and president
of Bilobia Natural and formerly General Manager of
Starlight Products, estimated that at least 400 MT
per year (and probably more) of the carterii or sacra
type goes into the fragrance industry.3 This can
be differentiated from the Ethiopian type, which
is exported in much larger volumes and thus the
Eritrean or church type of frankincense accounts
for the majority of incense traded around the world.
Delaunay estimates that average annual exports
from 1987-2006 of B. carterii and B. sacra from
Somalia, Somaliland and Puntland have averaged
460MT, while exports of B. frereana have been
between 50 and 70 MT. Yemen and Oman are
estimated to export approximately 120MT each
year of B. carterii and B. sacra and 60MT of B.
frereana, including an unknown quantity of gum
resins that originate from Somalia/Somaliland and
transit through these countries. Exports of frank-
incense from Ethiopia and Eritrea are much larger,
with annual exports of B. papyrifera estimated at
2,300MT with a further 700 to 800MT from other
sub-Saharan producers. More recently, Osman
Guelleh has estimated current annual Somaliland
harvesting levels and potential as follows: B. carterii
gum resin production 200 MT to potentially around
1,000 MT; B. frereana gum production 150 MT to
potentially 400 MT; myrrh production 90 MT to
potentially 400MT; and opoponax current produc-
tion 6MT to potentially 40 MT.4 While recognizing
the inadequate data, Trygve Harris discusses the
substantial fall in Omani frankincense annual
production to around 30 MT, with harvesting totally
dependent upon immigrant Somali labor.5 Coppen
in Chikamai and Casadei eds. stated: “Total world
demand is estimated at around 2,500 tonnes/year
but this figure is subject to some qualification and
much uncertainty. China and Europe are the largest
markets but the Middle East, North Africa and
20 Ingredients Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_IFEAT_fcx.indd 20
(to a lesser degree) the US also import significant
amounts directly from source.”6
Today, with no official statistics with regard
to export destinations, one can safely argue that
China and the Middle East (and to a lesser extent
Europe) have definitely become the largest import-
ers. Although a significant proportion of imports in
the Middle East are re-exported, China purchases
for medicinal applications and also for burning
incense sticks, whereas Europe and America use
a similar type of incense (the Eritrean type) in
the Orthodox and Roman Catholic Churches. The
Northern African and Middle East destinations
import the “Maidi” and the “Luban Maidi” for
chewing gum and there are sizeable sales in local
markets for chewing uses. France is certainly the
leading importer of the B. carterii or B. sacra for
perfumery and fragrance use, including essential
oils and resinoids. In recent years, the popularity
of aromatherapy and self-medication with essen-
tial oils has contributed significantly to a rise in
the international demand for frankincense and
myrrh. Similarly, Boswellia resins are used for
their antiseptic, anti-arthritic and anti-inflamma-
tory effects, while recent German, Indian and U.S.
research has indicated its use as a possible treat-
ment for cancer.
References
1. Robert S. Pappas 2016,“Frankincense – A classification by
chemotypes rather than just species” Ultra International BV;
www.ultranl.com/frankincense-essential-oil-chemotypes.
2. Farah, A.Y., 1988. The Milk of the Boswellia Forests:
Frankincense Production Among the Pastoral Somali. Thesis,
London School of Economics and Political Science, University
of London, U.K. 382 pp. Somali Academy of Sciences,
Mogadishu, Somalia. (Edited version publ. 1994, Department
of Social and Economic Geography, Uppsala University, xiv +
142 pp.).
3. Delaunay, G., 2010. Incense: Supplies and Markets. In: IFEAT
International Conference 2010. Marrakech, 26 – 30 September
2010. London: IFEAT.
4. Guelleh, Osman Guelleh 2016, The Incense Trail: A Supply
Chain in Flux.*
5. *Harris, Trygve, 2016, The Mother of Society and the Umbrella
of our Lives: Frankincense in the Sultanate of Oman.
6. Chikamai, B. and Casadei, E., 2005. Editors. Production
and Marketing of Gum Resins: Frankincense, Myrrh and
Opoponax. NGARA Publication Series 5/09/2005, pp. 97.
* Paper presented at IFEAT Dubai Conference Sept. 25-29, 2016, “The Middle
East: Challenges at the Historical Crossroads of the F&F Trade
6/13/19 2:45 PM
PF Full Page.indd 1 6/6/19 8:50 AM
 2019 Flavor & Fragrance
Leaderboard
The F&F industry has moved beyond traditional
business, establishing stakes in alternative
proteins, artificial intelligence, nutrition and
renewables, among others. This year’s leaderboard
features perspectives from executives leading
the top companies to grow beyond the traditional
business model.

O
ver the last year, the flavor and Leffingwell cites the cosmetic ingredient sector as a
fragrance industry has seen sales expansion opportunity for natural fragrances.
unprecedented growth in business He added, “Whereas cosmetic ingredients are increas-
and cultural change. This year’s ingly being added to the sales areas, so also consumer
leaderboard takes a look at the desires for natural products [are] no longer just for
industry’s investments to further R&D and sales ‘natural flavors,’ but also [for] ‘natural fragrances.’”
in plant-based ingredients, functional ingredients, Trade restrictions paired with global political
meat substitutes and—though its legislation is in uncertainty are driving policy initiatives, which is
limbo—cannabis and CBD. Additionally, the industry’s exemplified by the Fragrance Creators Association
culture is evolving to address gender disparities and May 2019 federal fly-in in Washington D.C. This year’s
acknowledge the LGBTI community in order to Chinese and E.U. trade policies pose a significant
strengthen equality standards and thus cultivate more adverse impact on diversifying essential oil sourc-
voices to contemporize F&F. The industry’s efforts ing and the livelihood of farmers around the world.
to diversify portfolios and company culture are the Farah K. Ahmed, president and CEO of Fragrance
touchstones for this year’s leaderboard. Creators, testified against the United States Trade
Representative, advising the Administration not to
Sales are rising despite global uncertainties place trade or tariff restrictions on essential oils and
It’s difficult to give an approximate figure on the concentrates of essential oils classified in HTS heading
global F&F market’s growth—but it’s safe to say that 3301. “Restrictions on these products will lead to
sales are rising amidst stringent regulatory policies, higher costs for U.S. producers (many of which are
tariff and trade restrictions and a continuous price small businesses), retailers, and every person in every
and harvest volatility for natural raw materials, community in the nation—all without any accompany-
among others. Market data reports a range between ing benefit to U.S. industry ... In addition, hundreds of
$24-53 billion by 2025 a,b. As we’ve acknowledged in thousands of American jobs are dependent on scented
past issues, the industry continues to be more seg- products, which require these essential oil inputs, and
mented than ever, where F&F companies are targeting could be jeopardized,” said Ahmed.
non-traditional F&F territories within food, health
and beauty sectors. “In 2018 & so far in 2019 we have Pets, Cannabis and Technology
seen the most transformation in decades. Virtually all Most notably, Givaudan’s acquisition of Naturex
the major F&F players have been active in highly tar- in September 2018 and Albert Vielle in May 2019,
geted acquisitions—IFF-Frutarom being the largest,” indicates the company’s foray into becoming one of
commented John Leffingwell, Ph.D., president, the international leaders in plant extraction for food,
Leffingwell & Associates. Among these acquisitions, health and beauty. As one of the top three F&F com-
panies in the world, Givaudan saw significant sales
a Markets and Markets report: Flavors and fragrances market worth $24.13
growth from Naturex’s contributions in flavor and
billion by 2022
b Newson6 report: Flavors and fragrance market 2019 fragrance reaching a total of CHF 150 million.
Reproduction in English or any other language of all or part of this article is strictly prohibited. © 2019 Allured Business Media.

22 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_Leaderboard_fcx.indd 22 6/13/19 3:18 PM

 Within the nutrition segment, Symrise’s Diana
division of food, pet food and probiotics saw a 7.9%
CAGR to e165.9 million, in contrast to the Q1 2018
sales of e153.8 million. A recession-resistant category,
the pet food segment showed double-digit growth
driven by rising customer demand, price adjustments
and a particularly strong performance in North
America; similarly, the probiotics segment posted
double-digit growth primarily from EAME regions.
Cannabis and CBD (the non-psychoactive
ingredient found in hemp) are continuing to find
its place in flavor and fragrance products. In
January 2019, the United States Congress passed
the Agriculture Improvement Act of 2018 (also
known as the Hemp Farming Bill Act of 2018),
removing hemp from the Controlled Substance Act,
and legalizing its production for industrial use. The
legal production and use of hemp opens up access
for formulators to access and develop food and
cosmetic products. The cannabis market is expected
to reach $57 billion by 2027, and 40% of that
growth will come from CBD according to the Hemp
Gazettec. Due to the shifting regulatory landscape of
hemp and marijuana-derived products, businesses
are encouraged to exercise caution in promoting
health claims; however, its presence in the wellness
movement continues to boom.
Ingredient and technology platforms have also
been a major area of innovation for the F&F leaders,
particularly in naturals and plant-based solutions for
food and fragranced products. The demand for plant-
based ingredients continues to grow, with provenance,
wellness and sustainability as the touchstones for
current shifting consumer values; as well as biodiver-
sity promotion to source from different proteins aside
from animal sources. The alternative protein market
is expected to reach $5.2 billion by 2025, with soy
proteins leading growthd.
Artificial intelligence as a perfumery tool is another
area of investment into companies’ innovation strate-
gies. Givaudan’s scent-creation A.I. tool, Carto, was
launched in Spring 2019. Perfumers interact with a
touch screen to access Givaudan’s odor value map,
instead of a traditional spreadsheet, while the Carto
tool produces a sample of the fragrance. “The system
allows [perfumers] to bring together physicoc­hemical
science and technology to maximize the use of our
palette of ingredients while making experime­ntation
simpler and fun,” said Maurizio Volpi, president of
Givaudan's fragrance division.”
In the fall of 2018, Symrise partnered up with
IBM Research and its computational creativity
cLegal Cannabis Industry Poised For Big Growth, In North America And
Around The World
d Credence Research report: Global Alternative Proteins Market
PF1907_Leaderboard_fcx.indd 23
technology to develop an internal AI system named
Philyra to design new scents. The technology created
two fragrances for Brazilian cosmetics company, O
Boticario. “Artificial Intelligence is quite simply the
next frontier of perfumery innovation and discovery.
Watching it unfold, and helping to direct it, is a privi-
lege and the most significant milestone in my career,”
said Symrise senior perfumer, Dave Apel.
Shifting Company Culture
Company cultures are also shifting corporate
values to acknowledge employee diversity and
inclusivity, while committing to equal pay. In the
Spring of 2019, International Flavors and Fragrances
(IFF) signed on to the United Nations Global LGBTI
Standards of Conduct for Business (the Standards).
The Standards address discrimination against
lesbian, gay, bisexual, transsexual and intersex
(LGBTI) individuals in the community, workplace
and marketplace. IFF CEO, Andreas Fibig said, “By
signing onto the Standards, we are purposefully
championing equal and equitable rights for all on a
global level, especially those who are traditionally
the most vulnerable. Adopting these Standards will
help our efforts in engaging with communities and
partners that respect the rights of LGBTI communi-
ties as much as we do. We are extraordinarily proud
to be part of this outreach.”
In March of last year, Firmenich finalized its
commitment towards becoming a 100% certified
gender equality employer by planning on establishing
equal pay a global standard across its operations.
In 2015, the company was certified as an Equal Pay
employer by the Swiss government. “Globally, our
female colleagues represent 40% of our workforce
and 36% of our senior management. By being
certified as a 100% gender equality employer, we
are reaching our next level of excellence, going
far beyond equal pay, with clear benchmarks to
measure our success transparently.”
It’s a long road towards cultural, technological,
political and innovative change within F&F.
Non-traditional ways of business and thinking are
entering into the force fields to push F&F into a
more collaborative, communicative, sustainable
and innovative direction.
Editor’s Note:
In order to address the diversification of the F&F
industry into other non-traditional F&F segments,
the following list reports the financial results for
the fiscal year-end ending in 2018 and the 12-month
average exchange rate over respective fiscal periods.
23
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard

Givaudan
Geneva, Switzerland
2018 sales: CHF 5,527 milliona / $5,653 million

G
ood business momentum continued
for Givaudan in 2018, the third year
of its 2020 strategy, demonstrating
what the company says is its ability to
deliver on short-term objectives while
investing for long-term success.
This path to the long term included strategic
acquisitions during the year that included Naturex,
Centroflora Nutra and Expressions Parfumées. The
acquisition of Albert Vieille, a French company spe-
cializing in natural ingredients used in the fragrance
and aromatherapy markets, was announced in late
2018 and completed in May 2019. Also, in 2018,
Givaudan entered into a strategic partnership with
Synthite, a global player in the supply of high-quality
botanical extract ingredients. The acquisitions last
year were part of a total nine such investments since
2014 that represented an additional CHF 1 billion of
annualized sales – acquisitions that fit the company’s
a https://www.perfumerflavorist.com/networking/news/company/Givaudan-
Releases-2018-Full-Year-Results--504860321.html
2020 ambition of creating further value through
profitable, responsible growth.
With sales of CHF 5,527 million, Givaudan’s top
line growth in 2018 was a 5.6% increase on a like-
for-like basis and 9.4% in Swiss francs, with a free
cash flow of 12.7% of sales. These numbers were in
line with the financial targets of the 2020 strategy
and reflected growth in both of Givaudan’s business
divisions: flavor sales were CHF 3,002 million, an
increase of 4.6% on a like-for-like basis and 10.8%
in Swiss francs; fragrance sales were CHF 2,525
million, an increase of 6.6% on a like-for-like basis
and 7.8% in Swiss francs.
Despite good progress being made against all
three of its strategic pillars – growing with customers,
delivering with excellence, and partnering for shared
success – the company acknowledged that it faced
challenges in 2018. Raw material prices increased
significantly in all categories and price increases were
introduced to compensate. In common with others in
the industry, there were also significant supply disrup-
tions in fragrance ingredients.

Gilles Andrier
CEO, Givaudan

Focusing on 2020 Strategy

Big numbers underline Givaudan’s continued
position as the global industry leader in flavors and
fragrances. At the end of 2018, the company had
148 locations worldwide, 64 production sites, nearly
13,600 employees worldwide, and a market capital-
ization of CHF 21,016 million.
With financial targets also part of its strategy,
Givaudan seeks to create value for its shareholders
through sustainable and responsible growth. These
targets aim to outpace the market with 4-5% sales
growth and a free cash flow of 12-17% of sales, both
measured as an average over the five-year period of
the strategy cycle. In 2018, Givaudan maintained
good business momentum and achieved results
that were in line with the financial targets set for Gilles Andrier, CEO

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PF1907_Leaderboard_fcx.indd 24 6/13/19 3:18 PM

 2020. CEO Gilles Andrier says he is pleased with the
results and with the company’s progress towards
its strategic objectives. “Our strong performance in
2018 demonstrates our continued ability to deliver
on our short-term objectives, while at the same
time investing for the long-term future success of
our business through innovation, acquisitions and
CAPEX,” says Andrier.
Flavor division sales figures for 2018 included
CHF 9 million from Centroflora Nutra, acquired in
May, and CHF 146 million from Naturex, acquired
in September. The sales performance was driven by
new wins and strong business momentum across all
regions. The division’s key strategic focus areas of the
2020 strategy – health and well-being, and naturals
– grew at double digit and high single digit levels
respectively. From a segment perspective, beverages,
dairy, sweet goods and snacks were the main con-
tributors to the growth. Consumer demand for more
natural, clean label and organic products is a key
opportunity, and Givaudan continued to respond to
this by joining forces with companies that allow it to
provide a strengthened offering to its customers and
become the market leader in naturals. Givaudan’s
acquisition of Centroflora Nutra was completed in
2018, and the acquisition of Naturex, with its strong
Louie D’Amico
President, Flavour Division
Expanding Geographical Presence
Across both business divisions, Givaudan con-
tinued to invest for the long term with the further
expansion of its geographical presence. During the
year, the company opened a new commercial and
development center in Jakarta, Indonesia and made
strategic investments in its Applied Microbiomics
Center of Excellence in Toulouse, France to support
further scientific innovation in microbiomes.
In January 2019, the Givaudan opened a
new flavors technical and commercial center in
Casablanca, Morocco. The CHF 1.2 million invest-
ment means that for the first time in Morocco, the
company will offer in one location a full range of
flavor application capabilities serving customers
in the savory, beverages, sweet goods, dairy and
snacks segments. The 600 sq meter facility integrates
application labs with specialized technologies along
with commercial spaces for customer taste and
smell experiences. Louie D’Amico, president of the
flavor division, said of the new center: “Through
our local presence, customers will benefit from a
PF1907_Leaderboard_fcx.indd 25
portfolio of plant extracts and natural ingredients
across the food and beverage, nutrition and health
sectors, makes Givaudan a leader in natural flavors
and natural ingredients.
Fragrance division passed a particular milestone
in 2018. With strong market share gains over the
previous few years, acquisitions and continued
growth in high growth markets, Givaudan’s fine
fragrance business achieved global leadership
during the year. “Historically, we have been the
leader by far in consumer products, and after three
years of close to double digit growth we achieved
leadership as well in fine fragrances. This is an
important achievement for us,” says Maurizio Volpi,
president of the fragrance division, citing a combi-
nation of a strong team across the board and a good
ingredients line-up, with captive ingredients being
particularly successful.
While it was a good year for Givaudan overall,
the impressive figures for 2018 coincided with
another big number – the company celebrated 250
years of its heritage last year. To maintain its indus-
try leadership in the coming years, Givaudan will
no doubt be looking beyond this illustrious 250-year
milestone and continuing to follow the paths set by
its 2020 strategy.
Louie D’Amico, President Flavour Division
faster response as well as access to a wider range of
Givaudan’s global capabilities in flavors and extracts.”
Also, in the early part of this year, Givaudan
entered into a long-term partnership with Bio
FD&C, a South Korean beauty innovation company
25
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard
that specializes in active ingredients designed for
anti-ageing cosmetics. The move is in line with
Givaudan’s strategy of expanding the capabilities of
its active beauty business.
Spanning flavors and fragrances, Givaudan
identifies certain common themes such as naturals,
health and well-being, the use of flavor concepts and
ingredients in fragrance applications (for example,
in candles), and technology solutions for sustainable
natural ingredients (for example, enhanced fermenta-
tion). And while the company’s fragrance business is
more global, flavors is more regional mainly because
of local taste preferences and regulatory requirements.
Securing Raw Materials Supply
The company has placed an increasing emphasis
in recent years on natural products that promote
health and well-being, and growth is being shaped
through acquisitions, strategic partnerships and
investments. This emphasis on naturals is in line
with global megatrends and rapidly changing
consumer behaviors that are bringing change to the
global flavor and fragrance industry. The demand
for more natural and organic products is seen by
Givaudan as a real business opportunity and is
increasingly joining with other businesses to provide
strengthened offerings to its customers and become
the market leader in naturals.
Within raw material supply, 2018 saw signifi-
cant increases of disruptions; not surprisingly, the
company has been trying to reduce its exposure
26 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 26
to such challenges. Adverse events in 2018 tested
Givaudan’s response capabilities, but it was able to
meet all customer orders. “We all took great pride
in the way we handled these crises. Feedback from
customers was particularly positive on our com-
pany’s performance during these difficult periods,”
says Volpi.
It is difficult to predict extreme events in raw
materials supply, although some defensive measures
can be put in place. “We have been increasing our
level of vertical integration over the past 10 years
when it comes to ingredients that we use ourselves,”
says Volpi. This integration is in naturals as well as
synthetic ingredients and involves acquisitions, joint
ventures and partnerships.
Apart from adverse events, the growth in demand
for natural products raises questions about supplies
that are sustainable, a pressure which Givaudan
acknowledges. “Given this demand from consumers,
we know that we must source consciously, working
diligently in both our sustainability efforts and new
areas of research to ensure a planet of plentiful
supply in the future,” says D’Amico.
“In recent years the majority of our external
partnerships have focused on naturals and over 90%
of our research efforts in flavors have focused on
new natural solutions. We have been very successful
in applying technologies such as enhanced fermen-
tation, using natural processes to create natural
ingredients, in a sustainable way. Such technologies
provide a path to a sustainable future.”
6/13/19 3:18 PM
 Maurizio Volpi
President, Fragrance Division
Changing Regulatory Environments
Increased demands from consumers for more
transparency and sustainability have led to a more
complex regulatory environment, and companies
must commit to the full regulatory compliance of
all products in ensuring they are safe for people
and the environment when these products are used
as intended.
Givaudan works closely with its customers to
help them understand changes in the regulatory
environment as well as the impact these changes
will have on their consumer products. More than
200 employees in the company’s regulatory sections
help in these efforts from over 25 locations.
In flavors, regulatory teams have been strength-
ened as the business widens its interest to areas such
as food stuff and organics, working in close partner-
ship with customers to help them with regulatory
interpretations and shaping labelling declarations.
Offerings in these new areas have been boosted
through the knowledge and products gained from
the portfolios of acquired companies such as Vika,
Centroflora and Naturex.
“Regulations in the food and beverage industry
play a critical role in assuring the safety of the food
supply. The flavor industry has a heritage of excep-
tional safety standards and a strong commitment to
all governing regulations worldwide. Our industry
associations work on behalf of the flavor companies
to understand and interpret any changes or updates
in regulations that affect the industry,” says D’Amico.
In Europe, increased testing requirements
behind the regulation concerning the Registration,
Evaluation, Authorization and Restriction of
Chemicals (REACH) as well as other regulatory
bodies are resulting in stricter label needs. After 10
years’ of work and a significant financial investment,
Givaudan completed the REACH registration phase
on schedule in 2018. The company is now fully
REACH compliant and has registered over 300 sub-
stances. Work is now focused on defending materials
in the evaluation phase of REACH.
Bold New Frontiers
New and exciting opportunities offered by
technology are changing the way business is done
in the global flavor and fragrance industry. For its
part, Givaudan regards innovation as central to
its strategy and in recent years has been piloting
the potential of artificial intelligence, big data and
emerging technologies. It is currently implementing
PF1907_Leaderboard_fcx.indd 27
Maurizio Volpi, President Fragrance Division
Givaudan Business Solutions (GBS), a new organiza-
tional unit to leverage digitalization, innovation and
process simplification to offer a greater experience to
its customers. Andrier said, “It is a large transforma-
tion for us and is unique to our industry. GBS will
provide best-in-class business services and solutions
that support us to further improve our operational
efficiency and increase our agility.”
In a significant step in this area, in early 2019
the company launched its Digital Factory, a project
accelerator that brings together its experts, partners
and customers from around the world to explore
new ways of transforming the business and driving
opportunities in innovation. The Digital Factory
is in Paris next to Station F, the biggest start-up
campus in the world. “The launch of our Digital
Factory will help us to accelerate these digital
opportunities and further expand into new spaces
as we continue shaping the future of our industry
by leading the way into the next era of customer
experience,” said Andrier.
Such possibilities are being supported by the
creation in 2018 of a Givaudan-supported academic
chair at CentraleSupélec, a higher education insti-
tution in France. The company had already been
collaborating with researchers at CentraleSupélec
for a year or so, but the creation of the chair
extends this arrangement and will involve several
PhD students focusing on flavors and fragrances in
the world of data science.
To further extend its geographical coverage,
Givaudan formed a partnership in 2018 with Bits x
Bites, the first food tech accelerator to be based in
China. Givaudan’s collaboration with Bits x Bites
27
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard

will help it discover new disruptive technolo-

gies in food processing, digitalization and
artificial intelligence.
“When looking at the digital world, the
ideas and possibilities seem endless. There is
no doubt that digital technologies are playing
and will increasingly play a role in the future of
our business,” says D’Amico. In April this year,
the company’s fragrance business unveiled one
example of this possible future with “Carto,”
an AI perfumer creation tool the company says
reinvents the way perfumers create.
Carto invites perfumers to create new
accords through a playful visual approach,
with a wide touch screen, where they can
create their formulas differently from the
traditional spreadsheet or olfactive pyramid
representations. Volpi says Carto brings to life
perfumers’ ideas, inspirations and creative Carto allows perfumers, like Calice Becker (pictured), to create new accords through a playful
visual approach, with a wide touch screen, where they can create their formulas differently from
concepts in a very efficient way while taking the traditional spreadsheet or olfactive pyramid representations.
away the repetitive tasks. “The role of the
perfumer remains at the center of creation;
‘Carto’ comes as the digital support they can
use to enhance their creative work,” he says.

A Sense of Tomorrow In recent years the

Today, as part of global efforts to safeguard the
future of the planet, all players in the flavor and
fragrance industry are expected by their stakehold-
ers to operate their businesses responsibly and
sustainably. While companies may have different
approaches to this obligation, Givaudan’s view
is that rather than being a burden, sustainability
offers opportunities to add value to its business
as well as making a positive impact on the envi-
ronment and society as a whole. The way it goes
about this is guided by a framework called A Sense
of Tomorrow, which was introduced in 2017. In
essence it is a consolidation of the company’s global
sustainability activities around sourcing, innovation
and the environment.
Among the highlights of its performance in 2018,
the first full year of A Sense of Tomorrow, Givaudan
reported that 24 key raw material categories were
being sourced in a responsible way and that 78% of
its main direct suppliers achieved site audit compli-
ance; in innovation, it said the flavor business was
at the forefront of creating the future of protein,
and fragrances was demonstrating diversity in
responsible innovation, from new scientific meth-
odologies to sustainable beauty compounds; and
in acting for the environment, Givaudan reported
a 13.9% decrease in absolute terms of Scope 1 and
2 greenhouse gas emissions, 69.4% of its electricity
now came from renewable sources, and that water
use was reduced by 24.4%.
majority of our external
partnerships have focused
on naturals and over 90%
of our research efforts in
flavors have focused on
new natural solutions.
In addition, the company’s leadership on climate
change continued to be recognized by CDP, the
non-profit global environmental disclosure platform,
with an A- grade for both climate change and water
security. This was the fourth consecutive year on the
leadership level for the company, which has been
disclosing GHG emissions through its participation
in CDP since 2007.
The Sustainability Progress Review includes case
studies of what is being done within the company
and with its partners and suppliers in realizing its
sustainability ambitions and contributing to the
United Nations Sustainable Development Goals. One
example of how sustainability is being embedded
b BisaboLife is a registered trademark of Givaudan.

28 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_Leaderboard_fcx.indd 28 6/13/19 3:18 PM

 in the company’s processes can be seen at Pune in
India, where a new flavors manufacturing facility
was opened in early 2019 and features innova-
tive water and energy consumption actions. In
fragrances, Volpi is enthusiastic about the com-
pany’s “massive” progress with its active ingredient
BisaboLifeb, a fully bio-sourced bisabolol obtained
by fermentation from plant sugars and launched in
2017. BisaboLife offers the opportunity of taking
care of sensitive skin by fortifying and soothing
the skin and scalp while restoring comfort. In
2018, Givaudan Active Beauty presented clinical
test results that showed the hair care benefits of
BisaboLife in rinse-off products. The new active
ingredient offers a potential alternative to plant or
chemical sources of bisabolols. “And for custom-
ers, it is an innovative solution that enables them to
replace ingredients from unsustainable sources. This
way is the future, really,” says Volpi.
Next Chapters and Beyond
Looking to the remainder of 2019 and beyond,
Andrier identifies innovation, biotechnology, digitali-
zation and sustainability as critical areas for success.
“We see many opportunities to leverage these areas,
PF1907_Leaderboard_fcx.indd 29
and the acquisitions we have made to create dif-
ferentiated services and new ways of working and
develop new ingredients and creations that delight
our customers,” says Andrier.
The company says economic and political uncer-
tainty in many parts of the world will continue to be
challenges, as will volatility around raw materials.
Despite this, Givaudan remains optimistic about the
outlook for its business, saying it is well positioned
to take advantage of the trends of growing popula-
tions, people living longer and more responsibly,
and accelerating urbanization. In this setting, the
company can be expected to maximize the strength-
ened capabilities gained from its recent acquisitions.
“The next chapter of Givaudan’s history will be
inspired by our customers, our changing world, its
challenges and opportunities. We will build upon our
rich heritage to create flavors and fragrances that
delight the senses and satisfy changing consumer
preferences. We will leverage artificial intelligence
to innovate next-generation solutions. Givaudan will
be a big player in the naturals space and will also
explore adjacent areas where bioscience holds excit-
ing new potential. We will continue to expand into
fast-growing markets in Africa, Asia and beyond.”
29
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard

International Flavors
and Fragrances
New York, New York
2018 sales: $4 billiona

A
t the time of the publication of the 2018
Leaderboard, the news of IFF acquiring
Frutarom was relatively fresh. While
there were some rumors of Frutarom’s
acquisition prior to that, the news was
a surprise to the F&F industry. In October 2018, IFF
completed the acquisition of Frutarom.
With contributions from Frutarom, the company
posted $4 billion in sales for 2018, an increase of
17% from 2017’s $3.4 million. Of the sales, Frutarom
contributed $359.6 million with its core business,
excluding trade and marketing, and grew by 4% on
a like-for-like basis prior year. IFF’s scent business
saw sales increase by 6%, or $114.1 million, to $1.9
billion, while its taste business saw sales increase
6%, or $105.2 million, to $1.7 billion. Not even a
a https://www.perfumerflavorist.com/networking/news/company/IFF-Releases-Full-
year of being a part of IFF, and the Frutarom deal is
showing lucrative results.
Outside of the Frutarom deal, IFF continued its
sustainability efforts. After surpassing three out
of four of its 2020 environmental goals in 2017,
the company launched EcoEffective+, a new set of
environmental goals focusing on emission reduc-
tions, zero waste-to-landfill and responsible water
stewardship. In addition to these new goals, IFF
has been recognized for its sustainability initia-
tives thus far. At the beginning of 2019, IFF made
the Carbon Disclosure Project’s (CDP) A List for
Climate Change for the fourth year in a row and
was recognized as a 2019 Industry Mover by SAM,
a subsidiary of RobecoSAM which specializes in
providing environmental, social and governance
(ESG) data, benchmarks and ratings.

2018-Results-505793821.html

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PF1907_Leaderboard_fcx.indd 30 6/13/19 3:18 PM

 Andreas Fibig
CEO and Chairman
Since last year, what has IFF done to maintain
or raise its position on the leaderboard? What
would you attribute to your success in 2018?
On October 4, 2018, IFF completed the acquisi-
tion of Frutarom to become a global leader in taste,
scent and nutrition. The combined 2018 sales for
IFF and Frutarom was approximately $5.1 billion,
which we believe strengthens our position on the
leaderboard.
Additionally, the combination:
• Creates a differentiated portfolio with an
increased focus on naturals and health and well-
ness as well as more comprehensive solutions,
• Provides opportunities to expand into attractive
and fast-growing categories; such as savory solu-
tions, natural colors, natural food protection and
health ingredients,
• Broadens complementary and growing customer
base; including enhanced exposure to the fast-
growing small- and mid-sized customers, such as
private label,
• Establishes enhanced platform to deliver sustain-
able, profitable growth and
• Provides strong value creation opportunities to
maximize shareholder value – including cross-
selling benefits as well as cost synergies.
Welcoming Frutarom into the IFF family was a
momentous day in IFF’s history. Working with their
talented teams and gaining access to new technology,
fast-growing categories and a greater customer base
leads us to the next era of IFF and beyond.
Looking at our success in 2018, we achieved
strong advancements in both top and bottom-
line results, as well as our record-setting sales of
approximately $4.0 billion – including sales related
to Frutarom, as well as mid-single digit growth in
both taste and scent. Our growing Tastepoint by IFF
business, for example, allows us to meet the needs
of smaller, regional customers – while continuing to
serve our larger, global customers.
Raw material shortages continue to challenge
the industry’s supply. What is the future of natural
ingredients and how do you propose a more stable
supply chain for the future? How are synthetic
ingredients playing a role in this stability?
With limited natural resources, IFF has invested
in efforts to ensure the availability of sustainable
ingredients. If an ingredient is supply-constrained
due to overharvesting or climate change -- that is the
PF1907_Leaderboard_fcx.indd 31
Andreas Fibig, CEO and Chairman
definition of unsustainable. Circular Design principles
guide our development processes resulting in a portfo-
lio of sustainable options for the products we create.
Approximately half of the ingredients in our
catalog are renewable or bio-based, but we are
continually addressing gaps in our catalog through
a variety of initiatives. For example, Indian sandal-
wood is a desirable fragrance ingredient. Therefore,
IFF identified a sustainable sandalwood source in
New Caledonia that is fully renewable, guarantee-
ing that for every tree that’s cut, one is replanted
– making it sustainable – and protecting the future of
our supply chain.
Additionally, synthetic ingredients play a critical
role in the stability of our ingredients and supply
chains. Over 50% of our synthetic ingredients are
renewable, meaning they are derived from renew-
able resources, and this is crucial for protecting our
planet. Some synthetic molecules are nature identical,
which means they exist in nature, but our chemists
can replicate the molecule using organic chemistry
principles, without depleting the global supply of
natural resources. We believe that building a broad
palette of ingredients that is socially responsible and
environmentally conscious enables our customers to
offer sustainable solutions for their product needs.
What are some the regional differences you’re
seeing across F&F categories? Are you seeing
any common themes between these differences?
If so, what are they and how is this driving your
business?
In the world of taste, we see food trends and
consumer preferences vary greatly by region and
country. For example, in North America, the market
31
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard
is very much driven toward clean eating, natural
ingredients and plant-based foods. In Latin America,
recent regulations around processed foods have
brought a new range of natural beverages, juices and
a surge of vegetable-based products. In Greater Asia,
texture in food and beverages is a massive trend,
seen by example in bubble tea. In Europe, the culi-
nary movement towards ethnic cuisines and meals
that have spice and heat are rising in popularity.
Through a combination of future-trends analysis,
consumer insights and a sustainability-focused devel-
opment process, our Re-Imagine programs help IFF
serve unmet needs in the food and beverage market,
while also contributing to positive environmental
and social solutions. In addition, we believe certain
Frutarom capabilities will help drive improvement in
this area as well.
Within our scent business, consumer trends
continue to shape our product portfolio. Across the
fragrance industry, the consumer demand for trace-
able, clean-label solutions affects all of our global
regions. Similar to better-for-you taste solutions, con-
sumers are looking for fine and consumer fragrances
that meet sustainability criteria, such as social and
environmental responsibility. One example is our
capability to create Cradle to Cradleb certified fra-
grances. IFF’s proof-of-concept PuraVitac fragrance,
launched in 2016, was the world’s first Cradle to
Cradle Certified fragrance. Cradle to Cradle certifica-
tion ensures that the scent meets stringent standards
in the categories of material health, material reuti-
lization, renewable energy and carbon management,
water stewardship and social fairness.
Working directly with our taste and scent custom-
ers allows us to monitor consumer trends and in
return, offer custom solutions that meet the needs
of the global market. While flavor and fragrance
trends continue to vary by region, the consumer shift
toward healthier lifestyles is driving our approach to
creating regenerative products.
While consumer demands are applying
pressure to F&F companies for more transpar-
ency and sustainability, regulations are adding
an extra obstacle to the flavor and fragrance
industries. What role will regulations play in the
future of the industry and how is your company
responding to them?
Demands currently come from a number of
sources. In a direct fashion, consumer demand for
better-for-you products continues to drive our taste
and scent businesses, as we improve our creation pro-
cesses and product offerings. In addition to consumer
b-c Cradle to Cradle and PuraVita are registered trademarks of IFF.
32 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 32
demands, our industry must follow the regulations
put in place by the governmental authorities in all
of the countries that we serve. Indirectly, NGOs and
retailers require us to meet additional regulatory
requirements that are closely monitored by our global
regulatory affairs, quality, environmental health and
safety and legal teams at the global level.
We respond to these demands as we have done so
historically, by maintaining close communication with
our customers and taking an integrated approach to
providing solutions that meet both our customers’
requirements and government regulations.
In response to consumer demand for transpar-
ency, we have several programs in place that allow
us to provide sustainable solutions to our customers.
One example is our responsible sourcing program.
We proudly hold 11 For Life certifications, under-
scoring our commitment to responsibly sourcing
ingredients throughout our supply chain. For Life
certifications recognize an organization’s adherence
to specific sustainability criteria, including transpar-
ency, environmental responsibility, fair working
conditions and positive relationships with producers
and local communities.
We see regulations playing the same role in the
future, but in many cases, customer requirements are
now leading the way we create our products. Looking
ahead, we will continue to meet government require-
ments, while serving the specific needs of our global
and regional customers with exceptional quality.
Increasingly, the F&F industry has looked at
digital advancements, like AI and VR, as ways to
grow and improve its business. How have these
technologies inspired F&F and what role do
these technologies play in its future?
IFF is a pioneer in the area of analytics, algorithm
and artificial intelligence in domains such as R&D,
procurement, operations and the technical optimi-
zation of fragrances. For example, when modeling
fragrance formulas, we can employ AI technol-
ogy. This process allows us to explain fragrance
characteristics, such as consumer perception, by
monitoring ingredient combinations, and our propri-
etary algorithms improve the quality and efficiency
of our approach.
Beyond the expertise of our talented scientists, we
have partnerships with industry-leading thinkers to
continuously improve the use of technology within
our business. Additionally, our Scientific Advisory
Board (SAB), led by our executive vice president,
chief global scientific and sustainability officer, bring
together world class, multi-disciplinary, external
experts to enhance our R&D programs. We believe
that digital advancements, coupled with expert-level
6/13/19 3:18 PM
 thinking, will continue to shape not only
IFF, but our industry as a whole – leading
us to create products that are efficient,
dynamic and driven by the ever-improving
technology we use.

One of the biggest challenges in

the 21st century is the threat of global
warming and the ecological disasters
associated with it. In terms of your
own company, what specific initiatives
have you taken part to become more
sustainable?
Our sustainability strategy spans
across all areas of our business, with three
supporting pillars that highlight specific
initiatives: sensational people, regen-
erative products and positive principles.
Sensational people are the heart of IFF,
and we engage our employees and sup-
pliers to embed diversity throughout our
organization and promote an inclusive
company culture. Regenerative products
are the framework for how we create taste
and scent solutions – inspired by circular
design. Lastly, the positive principles pillar highlights
Lastly, what is IFF’s plans for 2019? What are
our commitment to eliminating all forms of waste,
some of the categories your company is focusing
using clean renewable energy and managing our
on and where do you think the future of F&F is
environmental footprint on a global scale.
heading?
Specifically, in 2018, after surpassing three of
our four 2020 targets, we launched new environ- Looking at 2019, we are excited about the com-
mental goals focused on emissions reductions, bination of IFF and Frutarom capabilities. Our core
zero waste to landfill and water stewardship. The IFF business and new Frutarom businesses are very
initiatives, known collectively as “EcoEffective+,” complementary. Our taste offering has expanded into
are implemented by our green teams around the new categories in naturals (colors, food protection),
world − and will take us to 2025 and beyond. savory and health ingredients. We have broadened
Green teams are cross-functional groups of customer base and are adamant about developing
employees who have a demonstrated passion for novel technologies (e.g., sustainable scent encapsula-
sustainability. They drive progress at their loca- tion, 3D printing, new cosmetic actives, etc.).
tions, and they connect monthly with the other From a market standpoint, health, customization,
teams to share global best practices. In 2017, better-for-you food, beverage and home and personal
for example, our South Brunswick, New Jersey care products are at the forefront of what consumers
location achieved the industry’s first GreenCircle want. F&F players are slowly shifting away from tra-
certification for Zero Waste to Landfill. Now, ditional F&F and moving into specialty ingredients,
through our EcoEffective+ initiatives, IFF seeks which helps broaden customer offerings. For IFF,
to achieve zero waste to landfill status at all of our we have been expanding into adjacent markets over
major manufacturing facilities by 2025. the past five years and we can leverage our newly
EcoEffective+ is the next step for IFF to further expanded portfolio via additional value-enhancing
embed sustainability principles. We aim to align our combinations.
strategy with the Sustainable Development Goals As we enter 2019, our priorities as an organization
(SDGs) put in place by the United Nations. We are clear—execute our strategy, integrate success-
believe deeply in the value of sustainability—and we fully, drive differentiation and embed sustainability
are committed to doing our part to protect the planet —as we deliver strong financial results and build a
and its people—while continuing to meet the needs stronger company for our customers, employees and
of our customers and the consumers they serve. shareholders.

33

PF1907_Leaderboard_fcx.indd 33 6/13/19 3:18 PM

 2019 Flavor & Fragrance Leaderboard
Firmenich
Geneva, Switzerland
2018 sales: CHF 3,700 million / $3,814 million*
O
ver the last year, the Geneva-based
F&F house expanded its portfolio with
technology-driven innovations, and
enhanced its company culture through
a renewed commitment to employee
diversity and equal pay. Overall, the company saw
a 9.6% (in Swiss francs) growth in sales with eight
acquisitions over the last two years, expanding
its presence in the U.S. West Coast (Agilex), sub-
Saharan Africa (Flavourome) and Central and South
America (Nelixia).
During the year, Firmenich’s flavor division
responded to consumers’ growing interest in healthy
food and beverage options surrounding plant-based
ingredients. Most notably, Firmenich partnered with
Layn Natural Ingredients in China, which specializes
in plant-based sweeteners, flavors and botanicals.
In Sept. 2018, Firmenich announced its acquisition
of Senomyx, a sweet, cooling and bitter solutions
specialists. Additionally, the company acquired
Italy's Campus, which focuses on natural functional
ingredients for protein applications, clean label,
meat, dairy, sauces and plant-based foods.
On the other side of the F&F equation,
Firmenich’s fragrance division focused on
expanding its naturals portfolio through its
NaturalsTogether sourcing program, where the
company builds long-term relationships with
*FY July 2017 – June 2018.
Gilbert Ghostine
CEO, Firmenich
Driving a New Era of Transformative Growth
Outpacing global GDP, the perfume and taste
industry is experiencing positive growth with
encouraging prospects ahead, fuelled by growing
urbanization and rising consumer purchasing power.
In this context, Firmenich continued its growth
momentum with a 9.6% increase in Swiss Francs,
reaching 3.7 billion Swiss Francs in net sales.
Alongside our consistent industry-leading organic
growth, we completed nine strategic acquisitions over
the past two years, while also expanding our footprint
34 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 34
producers of natural ingredients. In May 2018,
the company launched its third white biotech
perfumery ingredient: a more refined and sustain-
able version of Z11. Additionally, the company
is expanding its R&D capabilities via artificial
intelligence through a partnership with Ecole
Polytechnique Fédérale de Lausanne to enhance
the fragrance creation process for perfumers. For
cleaning products, the company continues to focus
on malodor solutions for cleaning products in
South Africa, India and Bangladesh. Most notably,
Firmenich implemented its “Mobile Toilet for Her”
as part of India’s Swachh Bharat hygiene initiative.
The mobile toilets, which are operated by trained
female attendants, provide a safe, hygienic and
enjoyable toilet experience for local women.
Firmenich is comprised of 7,600 employees and
the company has announced several public initia-
tives to ensure equality, diversity and inclusion in its
corporate culture. It was recognized as the seventh
company in the world as a globally certified gender
equality employer by EDGE, a leading gender equality
certifier. Mieke Van de Capelle, chief human resources
officer at Firmenich said, “Globally, our female col-
leagues represent 40% of our senior management and
workforce. This recognition confirms we are making
gender balance a priority, going far beyond equal pay.
We will not stop here, as we remain determined to
achieving the highest level of excellence in this area.”
in key strategic markets from China and India to
Brazil, Mexico and South Africa, just to name a few.
In parallel, as an innovation-driven organiza-
tion, we continued to invest in world-class science,
our engine of growth, with over 3,800 live patents
today. We are also developing a broad range of new
technologies to amplify how we do business, from
data analytics to our new Digital Lab dedicated to
augmenting our creation capabilities through artificial
intelligence. In addition, we are investing significantly
in e-commerce platforms and digital tools.
6/13/19 3:18 PM

Gilbert Ghostine, CEO Firmenich
Championing Inclusive Capitalism
Recognized for our inclusive capitalism model,
we are continuously growing our business while
creating long term value for all our stakeholders: our
customers, colleagues, shareholders, suppliers, com-
munities and the planet. I deeply believe in balancing
our short-term execution needs with the critical
investments required to thrive in the long run.
Bringing our purpose to life as “creators of posi-
tive emotions to enhance wellbeing, naturally,” we
are leveraging our science knowledge to address key
societal challenges from nutrition to sanitation.
New Leaders Shaping Next Chapter of Growth
We are continuously evolving our organization to
deliver strategic value to our customers and part-
ners. For instance this year, I appointed Emmanuel
Butstraen as our new president of flavors to firmly
strengthen our position as the partner of choice in
taste and nutrition. Reinforcing our commitment
to China, our second largest market worldwide, I
also nominated one of our most senior perfumery
leaders, Paul Andersson, as our new president of
Firmenich China. Finally, to improve our customer
service and speed to market, I integrated our pur-
chasing competencies within our One Operations
organization for increased impact.
Our Creators at the Heart of our Success
We are very proud of how broadly the expertise
and excellence of our creators was celebrated by the
industry this year.
Our master perfumer, Alberto Morillas
became the only perfumer to win three Lifetime
PF1907_Leaderboard_fcx.indd 35
Achievement Awards celebrating his brilliant career,
as one of the world’s greatest perfumers. After
receiving the very first-ever Lifetime Achievement
Award from the US Fragrance Foundation in 2013,
this year he received this honor from the German
and Austrian Fragrance Foundations.
Also, our master perfumer Olivier Cresp was
inducted into the Academia Del Perfume Foundation
of Spain. One of only 16 fragrance industry profes-
sionals to receive this exclusive honor globally,
Olivier was recognized for his extraordinary talent
and mastery of the Spanish market where some of
his top fragrances have become real classics.
We also nominated two new master flavorists
to join our global circle of leading creators. Bipin
Khara is a pioneer in sugar reduction with more
than 20 years’ of Firmenich successes, particularly in
beverages; and Chun-yu Song is a protein and savory
specialist with an outstanding track record of over 16
years with Firmenich.
Expanding our Footprint Globally
Expanding our footprint and accelerating our
speed to market, we inaugurated more than 10 new
sites this year, cutting across manufacturing plants,
laboratories and offices.
Most recently, we launched our largest flavors
plant in the world in Zhangjiagang. Operating
with digitally-advanced manufacturing systems
and the highest quality, health, safety, security and
environmental standards, this state-of-art plant is
designed to best meet growing customer demand in
China, with increased speed, operational excellence
and traceability.
We also opened our new production and creation
facility in South Africa, to offer best-in-class Swiss
quality, innovation and service to our customers in
South Africa and across the Sub-Saharan and East
African market. With this plant we are significantly
reducing delivery times, without compromising on
our world-class compliance, quality, health, safety
and environmental standards.
The company's initiatives address key societal challenges from nutrition to
sanitation through its latest marketing campaign.
35
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard
Making Firmenich the Best Place to Work:
Dialing up Diversity & Inclusion
One area where we are making great strides is
diversity and inclusion. My ambition is to make sure
Firmenich remains the most inspirational place to
work in our industry with a culture and working
environment that enables all our 7,600 colleagues
to thrive. Offering equal opportunities for all our
people, is not only rooted in our DNA as a family-
owned company, it is the right thing to do!
Today, we are one of only seven companies, and
the first in our industry, to be globally certified as
a gender equality employer by EDGE, the world’s
leading business certification standard in this area.
Building on this global certification, we are the
first Swiss company to join the Valuable 500, along-
side global companies such as Unilever, Accenture,
Microsoft and Virgin Media.  alone, we removed 150 metric tons of sugar from
We have been walking the talk on diversity and
inclusion for over four decades, and count hundreds
of highly talented colleagues with different abilities
within our operations globally. Partnering with the
Valuable 500 will enable us to exchange best prac-
tices with like-minded companies to accelerate this
movement and make a difference to the 1.3 billion
people living with disability in the world.
Innovating For Wellbeing
Everyday our people are putting our innovation to
work to tackle some of today’s most pressing chal-
lenges. Let me share some examples:
Making Healthy Taste Delicious
When it comes to taste, we want to make healthy
taste delicious for all.
The world of food reached a historic landmark
this year, with the definition of healthy diets by
the EAT-Lancet Commission report in January 2019.
Written by 37 scientists from 16 countries over a
three-year period, this is the very first scientific
Firmenich was recognized by EDGE, the world’s leading business certification
standard in this area.
36 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 36
report outlining what a universal healthy and sus-
tainable diet looks like; demonstrating that what is
good for you, is also good for the planet.
This universal healthy diet is flexitarian, with bal-
anced animal and plant-based proteins, a doubling of
consumption of fruits, vegetables and nuts, as well as
a 50% reduction in added sugars.
Considering that 2.1 billion adults are overweight
or obese in the world today, we are committed to
bringing this healthy diet to life and making it aspi-
rational and accessible to all.
More than a decade ago, we started investing
in technologies to make healthier food and drink
options taste delicious. These investments have
paid off significantly. Today our latest technology
TastePRINTa can reduce up to 100% of added sugar
naturally without compromising on taste. Last year
products that consumers love, removing 600 billion
calories from their diets.
Our partner Layn in China plays a critical role
in enabling this platform, by giving us access to the
world’s broadest source of natural sweeteners, such
as monk fruit and stevia.
We are also actively involved in shaping green
protein solutions to ensure their nutritional value
is matched by their deliciousness and appeal to
consumers. Building on the growing vegan and
vegetarian movement, we have introduced a com-
prehensive portfolio of “Smart Protein” solutions,
including ingredients and delivery technologies
designed to create great-tasting plant-based food and
beverages. Combining our mastery of taste, with our
world-class science and in-depth consumer under-
standing, these capabilities enable our customers
to create delicious eating experiences across savory,
sweet goods and beverages.
Accelerating Access to Sanitation
In line with our vision to accelerate access to sani-
tation for all, we continue to focus on bringing our
breakthrough malodor control technologies to the
populations most in need. Today our solutions are
used with toilet cleaning products in South Africa,
India and Bangladesh. And this is just the beginning!
Actively championing India’s Swachh Bharat
initiative to “Clean India,” through a partnership
with the Pune Municipality, on World Toilet Day,
we opened the doors of our new “Mobile Toilet for
Her” providing a safe, hygienic and pleasurable toilet
experience for local women. The fully refurbished
bus features toilets, shower cubicles, a panic button,
as well as diaper changing and nursing stations, all
maintained by trained female attendants.
a TastePRINT is a registered trademark of Firmenich
6/13/19 3:18 PM
 Acknowledging our leadership in driving social
innovation, Wharton Business School published
a case study on our work to reinvent the sanita-
tion economy with breakthrough malodor control
technologies. Mobilizing today’s youth is one of
the most critical preconditions for delivering the
SDGs at scale. That’s why we partner with universi-
ties around the world to mobilize youth as change
agents. This sanitation case study is a good example
of how we put our expertise to work to solve real
life problems. 

Tackling Climate Change

With the past five years ranked as the warmest
five-year period on record, it is no surprise that
climate issues dominated this year’s World Economic
Forum’s annual assessment of global risks.
A critical pillar of Firmenich’s inclusive capital-
ism business model is our deep commitment to
the environment.
Coming out of COP 21, when I realized the
urgency of keeping our planet below two degrees, I
mobilized my teams across Firmenich to set our-
selves the most ambitious environmental goals.
 For instance, we aim to operate with 100%
renewable electricity across our operations
worldwide by 2020. Delivering on this goal, today
we operate with 80% renewable electricity and have
already reached 100% across Europe, North America
and Brazil.
It is very encouraging for us to see our work
deliver measurable positive impact. For instance,
this year, we stood out with L’Oréal, as one of only
two companies worldwide out of 7,000 to have
achieved “Triple A” with CDP, the gold standard for
environmental management and disclosure, with an
A in climate, water and forestry.
Acting as thought leaders in this space, we
recently hosted a critical business dialogue on
climate action with Ambassador de Alba, the UN
Gilbert Ghostine and Ambassador de Alba
Secretary-General’s Special Envoy for the 2019
Climate Summit, gathering business leaders cutting
across critical sectors, from luxury and consumer
goods to banking.
Given the scale and urgency of today’s climate
challenge, the special envoy called on all business
leaders to step up their actions, while engaging in
strategic partnerships cutting across sectors to go
further and faster together.
Looking ahead, we look forward to strengthening
our winning culture, based on diversity and inclu-
sion, to ensure all of our people can thrive. We will
also continue to pursue our digitalization journey
to enhance and accelerate our capabilities, while
putting our science to work to address key societal
challenges from nutrition and sanitation all the way
to climate change.

37

PF1907_Leaderboard_fcx.indd 37 6/13/19 3:18 PM

 2019 Flavor & Fragrance Leaderboard
Armand de Villoutreys
President, Perfumery & Ingredients
Firmenich’s 2018 was
very successful across per-
fumery and ingredients. We
expanded access to respon-
sibly-sourced, high-quality
naturals with a strategic
stake in Nelixia in Central
and South America. We
accelerated our speed-to-
market, opening seven new
facilities worldwide, from a
global perfumery creative center in Singapore to an
innovation hub in South Korea. Reinventing the way
we operate, we introduced high-speed automated
fragrance compounding in our three major creative
development centers in Geneva, Paris and Princeton,
and are automating our fine fragrance application
laboratory in Paris. We gained access to additional
customers after winning new core lists, and we are
reaching new types of customers, via our mid-market
expansion, which began last year with Agilex and
continued this year with Fragrance West. Firmenich
is now the only perfume house with a presence on
the West Coast in the United States.
Creative Recognition across the Industry
Creators are at the heart of our business. In
2018, master perfumer Olivier Cresp received the
Fragrance Foundation’s Lifetime Achievement Award
and was inducted into the Academia Del Perfume
Foundation of Spain. Master perfumer Tony
Reichert obtained the American Society of
Perfumers’ Lifetime Achievement Award. Firmenich
was the most awarded perfume house at the Fifi
Awards in 2018, with key wins for customers in the
US, Spain, Italy and the Middle East: Glossier You,
Gucci Bloom, Aromatherapy Collection for Bath &
Body Works, Givenchy Gentleman, Altaia Tuberose
in Blue. We reinforced our creative teams with 15
new perfumers and flavorists, and we know they too
will bring new wins and great creativity.
Clear Leadership in Sustainability
Since 1991, when Firmenich signed the first
Sustainability Declaration of the International
Chamber of Commerce, we have been tackling
climate change and advancing social impact. In 2010,
we were the first perfume house to mandate that all
our new molecules be biodegradable. Today, all of our
new molecules pass a screening process, called Green
Gate, to measure their degradation potential and
compliance with strict environmental safety criteria.
38 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 38
In addition, in June 2018, we unveiled EcoScent
Compassb, a holistic fragrance sustainability measure-
ment tool. Based on globally recognized metrics and
guidelines (European Commission PEF, IFRA and
WBCSD), EcoScent Compass determines a fra-
grance’s sustainability footprint across three criteria: 
intrinsic green properties, environmental and social
impact. This enabled the launch of our first “Scent for
Good, Naturally” fragrance collection responding to
customer demand for naturals, renewability, biode-
gradability, while protecting the planet and its people.
Innovation in Science and Digital
We are constantly improving our best-in-class
palette of ingredients with new naturals, renewable
biotech and biodegradable molecules. We launched
our third white biotech ingredient in May 2018, a
refined and environmentally-friendly version of our
iconic Z11, a warm, woody amber note. In August
2018, Firmenich inaugurated its digital lab – d-lab –
in partnership with the Ecole Polytechnique Fédérale
de Lausanne to harness artificial intelligence (AI).
Robots will never replace perfumers, but AI can
provide intelligent tools that help our perfumers
be more creative and more efficient. Firmenich has
already proven the value of digital, incorporating
virtual reality into our product testing with our
partner Strategir. Our objective remains to con-
tinuously improve product design, from consumer
insights to creative development.
Importance of Protection and Transparency
First and foremost, regulation guarantees safety
for consumers. Together with the International
Fragrance Association (IFRA), Research Institute for
Fragrance Materials (RIFM), Personal Care Products
Council (PCPC) and other industry groups, we con-
tinually test, monitor and improve perfume safety
and quality. We are also working to answer the need
for transparency while protecting our intellectual
property and that of our customers. Copying and
counterfeiting is widespread. Our patented, captive
ingredients help us protect our formulas and provide
end-to-end solutions. In addition, EcoScent Compass
helps our customers respond to consumer demand
for transparency, traceability and sustainability.
Continuity during Challenges
Several force majeure situations – from factory
fires to transportation issues – impacted our sup-
pliers’ ability to deliver raw materials, resulting
in market scarcity and increased prices. Risk
management is one of our top priorities, and we
want to provide supply in the most responsible and
b EcoScent Compass is a registered trademark of Firmenich
6/13/19 3:18 PM
 © ComByAvm
NEW CAPTIVES IN

SHARING INNOVATION 2019

Every perfumer around the world has worked with Firmenich ingredients at least once in their life. Each year, Sharing Innovation offers them
a new selection. The 2019 edition shares natural extracts from proprietary technologies and responsible sourcing, as well as new molecules
from green chemistry. In addition, Beyond Muguet offers new territories for fresh and transparent floral notes.
Discover more at www.firmenich.com/ingredients

PF Full Page.indd 1 5/29/19 11:29 AM

 2019 Flavor & Fragrance Leaderboard
sustainable way for our customers. We have spe-
cialized, transversal teams to implement business
continuity plans. These teams manage ingredi-
ent availability and guarantee that unavoidable
reformulations protect both perfume integrity
and quality. After identifying valuable lessons this
year, we modified our procurement philosophy to
strengthen the security of our supply. In addition,
our NaturalsTogetherc sourcing program has built
long-term relationships with quality producers of key
natural ingredients. We have a positive impact not
only our own business, but their businesses as well,
and the livelihoods of their own communities.
Belief in a Positive Future
We are optimistic about the future, because
we believe in people, creativity and sustainability.
Sensoriality is a key factor for the success of brands
and products, and Firmenich is their guide for smell
and taste. Our results are positive, with growth in
Asia, Latin America, Africa and Europe in particular.
We have a clear innovation strategy, are leaders in
perfume technologies and continue to embrace our
digital journey.
We are proud of a new state-of-the-art development
center in Geneva, and we are extending our footprint
in key countries and new sectors with high growth.
We are empowering our management and project
managers to be more agile, dynamic and creative.
Our creativity and positivity is impacting not just the
fragrances we produce and the consumers who use
them, but also the way we do business and the way
the industry will do business in the future.
Emmanuel Butstraen
President, Flavors
I am thrilled to have
joined Firmenich as president
of flavors.  botanicals and uses state-of-the-art extraction tech-
I am leading a great team
of motivated professionals
all committed to driving
breakthrough innovation
and fostering solid customer
relationships.
This industry is incred-
ibly dynamic and fast-paced
with never ending opportunities for innovation,
growth and reinvention.  continue leading in taste and nutrition.
Each year brings new trends, unexpected
challenges and endless possibility. Last year the
c NaturalsTogether is a registered trademark of Firmenich
40 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 40
industry continued to experience significant con-
solidation; and with each player following
their own unique agenda, this evolution will con-
tinue to be of great interest.
The food and beverage industry continues to
experience rapid change, as consumers around the
world demand products that are heathier, natural
and more nutritious, in addition to having ingredi-
ents that are recognizable and traceable. The call to
action is clear: Help make good food for everyone
to enjoy.
Making Healthy Taste Great
As pioneers in taste modulation, we have created
an established portfolio of technologies that can
refine the taste experience, from the overall flavor to
an individual sensation. Our deep expertise in taste
across all its dimensions has allowed us to quickly
support our customers to deliver more nutritious
products without sacrificing the delicious experience
associated with their brands.
Today, reducing sugar remains one of the biggest
opportunities for our customers to create health-
ier food and beverages and it remains a strategic
priority for our business. Our latest technology
TastePRINT can reduce up to 100% of added sugar
naturally without compromising on taste. Last year
alone, we removed 150 metric tons of sugar from prod-
ucts that consumers love, removing 600 billion calories
from their diets. In 2018, we further underscored our
commitment with two milestone achievements to
advance our leadership in this area. 
 First, we entered a strategic agreement with
Layn Natural Ingredients, a leader in premium,
plant-based sweeteners, flavors and botanicals. This
agreement has given Firmenich exclusive access to
the widest range of natural sweeteners and taste
modulation extracts in the industry. 
Consumers want the cleanest ingredients pos-
sible. Layn has direct access to China’s most pristine
nologies to produce a range of natural sweeteners and
extracts, such as monk fruit (LuoHan) and stevia, for
which Firmenich has the worldwide rights.  
We also announced our acquisition of Senomyx, a
leader in taste innovation and a recognized pioneer
in sweet, cooling and bitter solutions. Building
on our long-term partnership with Senomyx that
has spanned more than a decade, we proudly wel-
comed Senomyx to the Firmenich family in order to
 
Championing Vegan & Flexitarian Diets
The rise of veganism and flexitarianism, where
people who are reducing the amount of animal-based
6/13/19 3:18 PM
 foods they consume, is inspiring a wide range
of meatless innovations hitting the consumer market.
From a sustainability perspective, our innova-
tion is focused on promoting a diet that is less
dependent on animal protein. We are committed
to helping our customers create natural and tasty
vegetarian and vegan products.    
We recently launched our “Smart Protein” capa-
bilities. After years of research and collaboration,
we developed a range of tools and technologies that
address the primary challenges associated with flavor
and taste in plant-based and alternative proteins.
Masking undesirable base off-notes was the first
step, but our capabilities have evolved beyond this,
with the development of ingredients and delivery
technologies which provide the fatty succulence and
juiciness typical of meat proteins, but which are gen-
erally missing in plant-based analogues.  
Yet these vegetarian trends don’t only apply
to savory and we have made similar advances in
innovation for sweet goods and beverage prod-
ucts. Whether developing plant-based protein
yogurts, beverages or fortified bars containing
protein, we understand the technical challenges
and can help our customers overcome them.  our customers and their consumers can trust.
Beyond our internal capabilities, last
year we acquired Campus, an innovator in the appli-
cation of natural functional ingredients for protein
applications, specializing in clean label, meat, dairy,
sauces and plant-based food. This acquisition broad-
ens our capabilities in naturals and protein solutions,
cutting across animal and vegan food products.  far beyond today’s labelling requirements to
Campus has deep expertise and application
knowledge in using natural products, such as fibers,
to create customized functional solutions for a broad
range of protein applications. The company is built
on innovation and has made its mark in protein
solutions. We will continue to expand Campus’ reach
globally and leverage its capabilities into new catego-
ries such as dairy and plant-based solutions.
Firmenich expanded its natural solutions by entering a partnership with Layn,
a leader in plant-based sweeteners, flavors and botanicals. The company also
grew its cooling, bitter and sweet solution capabilities through its acquisition
of Senomyx.
PF1907_Leaderboard_fcx.indd 41
Firmenich’s “Smart Protein” solutions offers a range of tools and technologies
to address challenges associated with flavor and taste in plant-based and
alternative proteins.
Keeping it Natural
In a world of increasingly label-conscious con-
sumers we are dedicated to developing a portfolio
of the most authentic natural taste profiles that
As the industry transforms to meet the need for
both natural and clean label products, we too are
transforming to ensure we remain leaders in creat-
ing great tasting, natural and traceable food and
beverage experiences. 
We are committed to full traceability and are going
provide our customers and their consumers with
information they can understand and trust. We are at
the source of the highest quality natural ingredi-
ents and are committed to end-to-end management
of our most critical raw materials, including vanilla,
citrus, mint, red fruits, tea and many others. 
We continue to put our world-class science to
work to create natural taste profiles drawn from
nature in a sustainable and traceable way. We use
a range of techniques, from soft, solvent-free and
CO2 extractions, to “kitchen techniques” leveraging
culinary arts, as well as innovative bio-based
approaches like fermentation to offer the best of
nature sustainably.
The Future of Taste
Flexitarianism, as well as natural and clean
label will continue to be a driving force within the
industry. In line with our ambitious innovation
agenda, we will partner with our customers to meet
their consumers’ expectations for great tasting,
nutritional food and beverage experiences, created
from natural, sustainable ingredients.
41
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard

Symrise
Holzminden, Germany
2018 sales: €3,154 milliona / $3,726 million*

I
n 2018, Symrise continued its strong growth
by registering e3,154 million in sales and an
EBITDA of e631 million, an increase of 9%
from 2018 fiscal year numbers. Marking the
13th year of sales growth, the company has
also continued to invest in sustainable raw materials,
training and educating employees and expanding or
optimizing production capabilities.
a https://www.perfumerflavorist.com/networking/news/company/Symrise-
Releases-2018-Financial-Results--507083891.html
*FY ended June 2018
At the heart of Symrise’s growth is its efforts to
understand consumers’ demands for natural flavor
and fragrance ingredients that are both transparent
and sustainable. On the fragrance side, Symrise has
developed a sulfate turpentine oil, created from a
paper by-product, to be used in fragrance mixtures.
For flavors, the company has done extensive research
in what consumers around the globe look for in
natural products, finding that regional demands for
natural food and beverages vary greatly.

Heinz-Jürgen Bertram
Chairman and CEO

Since last year, what has Symrise done to main-

tain or raise its position on the leaderboard? What
would you attribute to your success in 2018?
In 2018, Symrise again experienced strong
growth. One of the reasons for this success is our
strength in using our resources in a highly targeted
way—be it the right investments at the right time,
the development of our own talented employees or
responsibly handling important raw materials—
especially at a time when materials essential for the
industry are becoming increasingly scarce. Symrise
has planned ahead and used backwards integration
for important raw materials or established long-term
and trustworthy partnerships with suppliers – thus
continuing to measurably strengthen the sustainabil-
ity of sourcing.
Taking all this together, i.e. purchasing sustainable
raw materials, training and educating employees, Heinz-Jürgen Bertram, Chairman and CEO
expanding production capacities or optimizing exist-
ing ones, this leads to the following: We are investing to be one of the most profitable companies in this
at many levels in our business and experienced our industry. We generated earnings of e2.12 per share
13th year of growth in a row in 2018. for our shareholders, and the profit distribution will
To give you a few key figures: We achieved an continue to rise. Equally important for us is that we
organic sales growth of 9% in the 2018 fiscal year grow faster than the market with our diverse prod-
and set a sales record once again, with e3,154 ucts. Our compound annual growth rate, or CAGR,
million in sales and an EBITDA of e631 million. was 8.2% for the period from 2006-2018.
With our profit/EBITDA margin of 20%, falling In short, our sales grew faster than the cor-
within our target corridor of 19-22%, we continue responding markets. We remain one of the most

42 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_Leaderboard_fcx.indd 42 6/13/19 3:18 PM

 Symrise’s sustainability goals include procuring 100% of its most important agro- and aquaculture raw materials from sustainable sources by 2025.
profitable companies in the industry. Thanks to our
high level of innovation, we were able to expand our
market position while boosting our sustainability
performance. These definitely are achievements that
make us proud.
Raw material shortages continue to challenge
the industry’s supply. What is the future of natural
ingredients and how do you propose a more stable
supply chain for the future? How are synthetic
ingredients playing a role in this stability?
We do see a very far reaching future for natural
ingredients. In the flavor and nutrition segments,
we place great emphasis on close cooperation with
the producers of our natural raw materials. The
topic of “naturalness” can be illustrated by manifold
examples, such as our code of nature initiative.
Symrise is meeting the global trend towards natu-
ralness with this comprehensive concept and based
it on four pillars: the best naturals, applied science,
transparency and consumer-driven. The reason for
this is simple. Consumers are placing increasing
emphasis on naturalness. They want to understand
exactly what the ingredients of their food are and
where they come from. They expect products to
come from sustainable agriculture. And they want
carefully prepared and properly stored foods and
PF1907_Leaderboard_fcx.indd 43
beverages so that they retain their original taste and
nutritional value.
Also, we are increasingly utilizing the byproducts
that arise from raw materials processing for food
production, replacing artificial cosmetic ingredients
with products from sustainable and renewable
sources or using byproducts from the paper industry
for the development of fragrances that are certified
as sustainable. Let me give you three examples:
• For instance, we are using food side streams from
bananas. Just imagine, one third or 1.3 billion
tons of global agricultural food production today
is lost or wasted along the food chain, and many
natural resources are not consistently used in
food production. Our nutrition segment (Diana)
has significant experience in turning these valu-
able ingredients into equally valuable products.
These byproducts still contain many nutrients
such as proteins, antioxidants, minerals, fiber or
other micronutrients, which are valuable from a
nutritional point of view. For example, the pro-
duction of our banana purees, flakes and powder
—which are used in baby food and other products
—generates around 22,000 tons of banana peels a
year, which still contain a lot of dietary fiber and
health-promoting substances. If we extract and
recycle these and many other natural ingredients,
43
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard
it will have a positive impact on the environment.
In this way, we contribute to the conservation of
natural resources while also creating new markets
and economic advantages for our company.
• Or take our cosmetic ingredients that we are
increasingly basing on natural and renewable
raw materials. These ingredients are trending
among global consumers a lot right now. As a
consequence, more and more cosmetics produc-
ers are responding to the wishes of consumers by
using raw materials and ingredients that come
from nature and can be sustainably cultivated
and harvested. At Symrise, we are offering the
perfect fit for this demand. Among others, we
have developed Hydroliteb 5 green, which can do
all the same things as the traditional Hydrolite 5,
but the ingredient is natural-based and sustain-
able. It is made from a by-product generated in
producing sugar from sugar cane. It can be used
in numerous applications to moisturize the skin,
enhance the efficacy of ingredients and improve
the appearance, consistency and protection of the
product itself.
• And my third illustration of our sustainable &
natural approach: Until now, only paper and
wood products had been certified with the
globally recognized FSC certificate for protect-
ing forests. In a joint project with one major
customer, Symrise has now become the first
company ever to receive this certification for
a liquid raw material: the raw sulfate turpen-
tine oil, a by-product from the paper industry
that is used in numerous fragrant mixtures.
Turpentine-based ingredients, such as citronel-
lol, geraniol, dihydromyrcenol or linalool, are
fundamental in the perfumer’s palette. These
raw materials are indeed used in no less than an
average of 30 % of all Symrise fragrant mixtures
sold to its customers. Turpentine oil is produced
from the industrial processing of pine – the
trees come from the southeast United States,
where they have been grown in certified renew-
able plantations.
What are some of the regional differences
you’re seeing across F&F categories? Are you
seeing any common themes between these dif-
ferences? If so, what are they and how is this
driving your business?
Given strong differences in sensory preferences
from region to region, comprehensive consumer
research forms an important part of our R & D activ-
ities. The extensive R&D undertaken at the company,
b Hydrolite is a registered trademark of Symrise.
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PF1907_Leaderboard_fcx.indd 44
which is supplemented by a wide-reaching external
network of research institutes and scientific facili-
ties, forms the basis of our product development.
Our research centers around the globe work closely
with the respective regional sales and application
technology teams to offer customers and consum-
ers tailor-made solutions and products for different
regional requirements.
With our knowledge about the versatile consumer
preferences in mind, we regularly carry out intensive
research on a global level. We find that naturalness,
sustainability, trend-savviness, authentic regional
products and ethical aspects are common themes.
At the same time, they want as few ingredients as
possible, and those they understand as additive and
preservative free.
Delivering true natural products is a complex
task. Scent and taste preferences are as versatile and
diverse as the global concepts of naturalness. This
depends on many things, such as region, legal status
and product categories. For example, in March 2017,
we carried out a study in the United States. We found
that naturalness was most sought-after in the yogurt
category by 68% of consumers. We had the lowest
figures in the ready-to-eat (RTE) meals category.
Still, almost 47%, i.e. half of the consumers surveyed
said that naturalness was a quality they looked for.
We found it also interesting to compare yogurts
and RTE meals, because they highlight that natu-
ralness contains various meanings. For instance,
consumers in the United States expect subtle
differences from their brands in terms of most
impactful “clean labelling.” People are looking for
organic ingredients and freshness claims on yogurt
packaging. In RTE meals, they are more interested
in respectful breeding of animals.
To add to this: No matter in which region of
the world our customers and their consumers are
we are meeting their full array of wishes, such as
certain religious requirements or nutritional prefer-
ences. Take vanilla, for example: Alcohol is typically
used in vanilla extraction. However, it is prohibited
in the manufacture of halal products for Muslim
consumers. We have thus developed an alternative
manufacturing process that extracts the same rich
vanilla flavor without the use of alcohol. We also
obtain this vanilla from our sustainable cultivation
cooperation in Madagascar, which in turn benefits
local farmers.
While consumer demands are applying pressure
to F&F companies for more transparency and sus-
tainability, regulations are adding an extra obstacle
to the flavor and fragrance industries. What role
will regulations play in the future of the industry
and how is your company responding to them?
6/13/19 3:18 PM
 Demand for natural is not the same across the board. In a study, Symrise conducted a study of U.S. yogurt consumers and found that 68% of them sought naturalness in
their yogurt products.
Regulations are a key driver in how we do busi-
ness and satisfy customer demand but are often a
lagging indicator of consumer demand and trends.
Whilst the impact of regulation cannot be ignored
and accounted for, by working closely with custom-
ers (who are directly and immediately influenced by
consumer trends) we are able to position ourselves
ahead of the curve and be prepared for the chal-
lenges that regulations ultimately bring.
An example of this is transparency in the fra-
grance sector. By working closely with one of our
multi-national partners who were being pressured
to disclose more by NGOs and consumers, we were
able to prepare an internal policy relating to public
disclosure of fragrance ingredients and leverage that
position in further discussions with other multina-
tionals responding to their competitors’ increased
transparency. This positioning has prepared the
business for future regulatory impacts arising from
the calls for greater transparency and has ensured a
“soft landing” for this topic internally.
In addition to our own monitoring activities and
trade association activities, the partnerships we
progress with our customers ensure we are well-
positioned and prepared for regulatory changes.
PF1907_Leaderboard_fcx.indd 45
On the flavor side, the regulatory landscape for
food including flavorings is rapidly changing around
the world. Many emerging economies are establish-
ing regulations as the eating habits in these countries
are changing dramatically from self-produced to
ready-to-eat meals. Symrise is closely monitoring
all these developments and active in the relevant
associations to understand the business implications
of any change at a very early stage and to adjust the
portfolio where necessary.
Increasingly, the F&F industry has looked at
digital advancements, like AI and VR, as ways to
grow and improve its business. How have these
technologies inspired F&F and what role do these
technologies play in its future?
We want to move from being a product developer
and manufacturer to a comprehensive solutions
provider – and for this purpose we are increasingly
establishing digitized and networked processes. But
when it comes to digitization, we can also come back
to the innovations. Here’s one example: Together
with IBM’s Thomas J. Watson Research Center and
with the help of artificial intelligence, we developed
two market-ready perfumes for the Brazilian market.
45
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard
The art and science of designing a winning
perfume has been something we at Symrise have
been doing for more than 200 years. Now our
perfumers can work with an AI apprentice by their
side that can analyze thousands of formulas and
historical data to identify patterns and predict novel
combinations, helping to make them more produc-
tive, and accelerate the design process by guiding
them toward formulas that have never been seen
before. Compared with other computer-aided models
from IBM Research for other industry branches,
creating fragrances require highly detailed precision.
In the fragrance business in particular, the market
demands new creations every season. AI identifies
existing fragrances and suggests complementary
additional components and formulas. Perfumers use
these suggestions and then tweak them, to empha-
size a certain fragrance note, and improve how long
it lasts on the skin.
One of the biggest challenges in the 21st
century is the threat of global warming and the
ecological disasters associated with it. In terms of
your own company, what specific initiatives have
you taken part to become more sustainable?
The commitment of Symrise to the sustain-
ability of what we do and the preservation of our
natural environment is inextricably linked to our
economic ambitions. As a signatory of the United
Nations Global Compact, we actively support the
principles of responsible business outlined therein.
In December 2018, Symrise was recognized with
the German Sustainability Award in the category
“Germany’s most sustainable large corporation
2019.” We are delighted to receive this honor, and we
are proud of our achievement and its recognition by
the wider public. Our numerous employees all over
the world are very dedicated to these goals. And for
me, the award also means that we are treading this
path in exactly the right way: We have identified the
key areas in which we can make a difference for our
stakeholders – and can thus combine sustainability
with economic success and achieve the best results.
In our sustainability goals, which we are develop-
ing in parallel with our new strategic goals, we have
stipulated that we want to procure 100% of our
most important agro- and aquaculture raw materials
from sustainable sources by 2025. Our efforts can be
seen, for example, in the sustainable sourcing of raw
materials that are so immensely important for per-
fumery, such as patchouli, in Indonesia, or lavender,
in France. We work closely with local producers to
promote sustainable agriculture while ensuring the
availability of high-quality materials for us. This is
particularly important to make us less dependent on
the volatile raw materials markets. At the same time,
46 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 46
we are focusing on more naturalness, which our
customers and, above all, consumers want.
Lastly, what are Symrise’s plans for 2019?
What are some of the categories your company is
focusing on and where do you think the future of
F&F is heading?
Years ago, we positioned ourselves well with our
strategy. It is based on the three pillars of growth,
efficiency and portfolio; the three of these together
make up the foundation of our long-term profit-
able business. We will continue to focus on organic
growth, and we intend to develop adjacent growth
areas through combinations of our diverse skill sets.
In addition, we are aligning the company closely to
market requirements. We are further expanding our
portfolio in the direction of innovative and high-
margin products, diversifying it and at the same
time achieving noticeable synergy effects. Last but
not least, we are becoming increasingly efficient and
sustainable. Furthermore, we want to continue to
grow by making strategic acquisitions. This includes
the agreement signed in January to acquire the
American company ADF/IDF to strengthen our nutri-
tion portfolio and our presence in the United States.
This skill-set made us the company with the
broadest range in the industry, and we also cover the
most fields because we strategically moved beyond the
traditional fragrance and flavor business at an early
stage. We now generate one-third of our sales with pet
and baby food, probiotics, active cosmetic ingredi-
ents and functional, health-promoting ingredients.
This share is to increase further until 2025, when we
intend to generate about a quarter of sales each in the
areas of flavor, fragrance, care and nutrition. And take
our innovations: We can apply them in many busi-
ness areas. And our probiotics experts work together
with colleagues from such diverse areas as cosmetic
ingredients, oral care and pet food. We always strive
to network as many parts of the company as possible
and thus create added value.
With our diversified approach, we have laid the
foundations for a promising future and we have
manifested this within our long-term goals for
the year 2025: With continuous organic growth
of 5-7%, we want to increase our sales to around
e5.5-6 billion. Our EBITDA is expected to expand
to 20-23%. We are driving forward our expansion
in high-growth business areas with targeted invest-
ments – even beyond fragrances and flavorings. We
are strengthening and securing our own natural raw
material base. We will convert our market-leading
innovative strength even more rapidly into innova-
tive, market-ready products. And we are supporting
our talented employees so that they learn to utilize
their full potential.
6/13/19 3:18 PM
PF Full Page.indd 1 5/22/19 9:46 AM
 2019 Flavor & Fragrance Leaderboard

Mane
Le Bar-sur-Loup, France
2018 sales: €1,253 million / $1,480 million

C
ontinuing its growth from 2017, Mane
has posted consolidated sales of e1,253
million for 2018, an increase of 8.4%
from previous year numbers. During
the year, the company made a number
of key investments to strengthen its beverage,
confection, savory and seasoning businesses. The
company acquired Kancor, which expanded its
spices, oleoresins and extracts offerings. Additionally,
it started a joint venture called Ethical Extracts that
specializes in delivering sustainable and traceable
coffee extracts and aromas for the beverage, food
and cosmetic industries.
While Mane saw solid growth in 2018, it wasn’t
without challenges. In the year, a number of raw
material crisis affected the company’s supply of
aroma chemicals for its perfumery business. The
company utilized alternative syntheses to transform
essential oils components into the ingredients in dire
supply, despite price increases. To address the chal-
lenges facing its fragrance business, the company
opened a fragrance development center in New
Jersey in September 2018 and continued its invest-
ments in consumer insight.

Jean M. Mane
President and CEO

Since last year, what has Mane done to maintain

or raise its position on the leaderboard? What
would you attribute to your success in 2018?
In 2018, Mane posted consolidated sales of e1,253
million, up 8.4% from 2017 ($1,479 million, +13.2%).
Without the negative impact of exchange rates last
year, our turnover in Euros would have progressed
by 13.3%. Combined with the impressive top-line
growth figures reported over the previous years, this
performance shows that we have been able to wage
through the challenges of the raw material crises
of the last years and continue to place us among
the fastest growing leaders of the fragrance and
flavor industry. This performance was saddened
by the loss of Maurice Mane in August, who still
held the position of chairman of the supervisory
board until his demise. He was a tenacious, coura-
geous and respected leader, whose vision had given
a new dimension to the company by promoting
the diversification of its activities in flavors for the
food industry and its international reach, a vision
the fourth generation has been striving to pursue,
embrace and improve since 1995. Jean M. Mane, President and CEO

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PF1907_Leaderboard_fcx.indd 48 6/13/19 3:18 PM

 The overall performance of the group continues
to result from our uninterrupted investments to
expand our reach and capabilities around the world,
particularly in our R&D and production facilities.
The addition of new talents to our teams to foster
partnerships with selective customers who value our
commitment to technology and innovation allows
us to capture the demand for on-trend flavors and
fragrances, created from more consciously and
sustainably sourced ingredients. The new affiliates
and facilities inaugurated this year are proof of our
commitment to better serve our customers in the
United States, India, the Andean region and expand
our reach in East Africa, while our major invest-
ments currently under construction reiterate our
commitments to the Chinese market.
After a very strong 2017 year for our flavors divi-
sion, we have strengthened our positions at strategic
partners and our successes in beverages, confec-
tionery and seasonings. To consolidate our unique
expertise and portfolio of Pure Capturea natural
flavor solutions across segments, complemented by
the establishment of our MANUFRI joint venture
with Nufri—one of the biggest fruit processors in
Europe—for the production of fruit compounds for
a-g Pure Capture, Sense Capture, Freshplex, Jungle Essence, Bigarane,
Ambramone and Green Motion are registered trademarks of Mane
PF1907_Leaderboard_fcx.indd 49
beverages and the completion of our vertical integra-
tion in spices, oleoresins and extracts through the
acquisition of Kancor, we have recently announced
the conclusion of a new strategic partnership with
Akbar Brothers, one of the largest traders of tea in
the world. This new joint venture, called Ethical
Extracts, is uniquely positioned to provide high-
end tea and specialty coffee extracts and aromas to
beverage, food and cosmetic sectors globally with
100% traceability and sustainability. With access to
the world’s best teas and most modern extraction
technology at source, combined with Mane’s 148
years of expertise in creating world class food and
beverage solutions, this partnership shall foster the
development of new and innovative natural beverage
ingredients, in line with consumers’ expectations for
more natural experiences.
In addition, our consumer insight team has
developed a research program on flavor and emo-
tions. This innovative approach uses the principles of
the psychology of cross-modal associations to design
the emotional profiles of various flavors and bring
added value for better product development and
differentiation, in accordance with brand images and
positioning. It was particularly useful from a vanilla
ice-cream market review showing that, for a same
liking score, consumers could associate different
products to totally different emotional universes.
49
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard
In terms of nutrition, consumers want healthier
and nutritionally beneficial products. Our customers
in the food industry are looking to reduce the sugar
and salt content of their products. The challenge is to
do this without drastically altering the taste consum-
ers are used to. To this end, Mane has developed a
range of products, Sense Captureb, to help its cus-
tomers adapt to these behavioral changes and new
consumer expectations. To ensure the result meets the
taste expectations of consumers in terms of organo-
leptic quality, Mane offers natural Sense Capture
solutions to decrease quantities of sugar and salt
without changing the taste of the “lighter” products.
In savory as well, we are working every day from
farm to fork to deliver trustful and tasty solutions that
answer the growing demand for natural ingredients
and full transparency. This approach has been applied
to our spices sourcing initiatives, conducted under the
leadership of our Kancor teams, and we have added
new varieties to our range of concentrated vegetable
juices through our sourcing partnerships, which give
us direct access to information at every stage of the
process, in line with our full traceability objective for
our customers. Our snacks experts have focused on
gaining insight about today’s consumer expectations
and trend discovery platforms, how the trend scout-
ing is changing influenced by the internet and social
media in a digitalized world and how the food and
flavor industry has to adapt to these changes. For
the first time this year, we will showcase our meat
capabilities at IFFA. By addressing the requirements
of the meat industry in a culinary way, Mane will
share its outstanding expertise in creating the finest
aromatic ingredients and tailor-made functional
solutions for meat businesses, including our Sense
Capture Protein solution to tackle the inclusion of
vegetable proteins in meat products. We have also
developed a full range of Sense Capture Mask solu-
tions to formulate for flexitarian, vegetarian and/or
vegan products adapted to typical soy, pea, wheat,
oat, and algae off-flavors, to secure consumer accep-
tance, achieve the right taste, and the optimal flavor
balance of the finished product.
2018 has been a challenging year for our fra-
grance division, due to the numerous raw material
crises that have particularly affected the supply of
aroma chemicals for the perfumery side of the busi-
ness. This situation has triggered a complex domino
effect on the availability and the price of many raw
materials. Our high inventory policy, combined with
our knowledge of alternative syntheses to transform
essential oils components into the ingredients in dire
supply were mobilized to overcome the shortages,
even if price hikes could not be avoided.
Despite these challenges, the division performed
strongly thanks to our strengthened collaboration
50 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 50
with our strategic customers to create more value
from our innovation, our creativity and our continu-
ous investments in building our R&D capabilities,
specifically including the grand opening of a brand
new, state-of-the-art Fragrance Development Center
located in Parsippany, northern New Jersey in
September 2018. The 100,000 sq. ft. facility is home
to Mane’s commercial, creative and R&D teams
in the United States. The expansive space is fully
equipped with cutting-edge robotics, a 2,000 sq.ft.
consumer insights testing center, sensory odor
booths and extensive testing laboratories continu-
ously replenished with 100% fresh air allowing for an
odor-free fragrance creation environment. Growing
our investments in consumer insight and leading
our teams to design consumer preferred fragrances
have enabled us to strengthen our strategic position
with our major personal care partners and further
sustain our successes in the fabric care and air care
segments, particularly with our Freshplexc malodor
solutions, which include proprietary molecules from
our Fundamental Research programs. In line with
the growing demand for natural fragrances, we strive
to enlarge the palette of our perfumers through sus-
tainably sourced iconic naturals and new ingredients
that spark their creativity.
As Mane consolidates its position in the fine
fragrance world, we were proud that Cécile Matton,
whose creativity is nourished by the palette of Mane
ingredients, from high-end, iconic naturals to Jungle
Essenced extracts, was named “Perfumer of the Year
2018” by the editors of Cosmétique Mag.
Meanwhile, our ingredients division has been
busy introducing a number of consciously sourced
ingredients at the 2018 World Perfumery Congress
(WPC) in Nice, including new botanicals, magnified
iconic perfumery ingredients and rectified citrus oils
thanks to our fractionation capabilities to cope with
the furocoumarin concern.
Leveraging on our historical presence in
Madagascar, and after reintroducing the cultiva-
tion of Bourbon vetiver several years ago, we have
presented a superior quality of Bourbon geranium
essential oil, chosen for its floral, aromatic and fresh
notes, sourced under the supervision of Terres en
Mêlées, an NGO, which promotes rugby among girls
to give them a chance to pursue their studies abroad.
After premiering Timur pepper at the previous
WPC edition, we continued to explore new spicy
notes with our Forest Pepper Jungle Essence.
This extract made from spicy-citrusy berries from
Thailand, locally named Makwaen, unveiled a new
kind of citrus notes with orange, pink pepper tonali-
ties and aldehydic facets. We purchase the berries
directly from the farmers in the villages through
our local team, to ensure a full traceability of the
6/13/19 3:18 PM
 In 2018, Mane inaugurated its Medellin, Colombia manufacturing site, which was designed using LEED sustainability standards.
geographic origin and support the local farmers, and
process them in our Bar-sur-Loup headquarters.
Among the new botanicals presented, we featured
our Four Corners Alcoholic Resinoid: this everlast-
ing, liquorous, dried fruit scent brings fruity, sweet
and balsamic tonalities. It is derived from a wild
fruit from the tropical forest of Cameroon sourced
with the collaboration of the AAFEBEN NGO, as
part of a project for the preservation of the protected
reserve of Dja and improvement of local communi-
ties’ conditions.
In addition, for the first time, we presented to the
industry two specialties created with a selection of
our captive molecules: Bigaflower, designed with a
high level of Bigaranee for its interesting soft green
notes of petitgrain, this specialty exhibits a floral
addictive note with comforting facets to deliver a
delightful natural neroli scent; and driftwood, a
radiant ambery scent with elegant facets reminiscent
of white woods created with Ambramonef to add
structure and style to fragrances.
Each year, we reinvest over 8% of our annual reve-
nues in R&D, maintaining a high level of investment
particularly in organic chemistry and biotechnology,
as well as in the development of new natural actives
through our Kancor team. Supporting fundamental
PF1907_Leaderboard_fcx.indd 51
research and optimizing processes for the produc-
tion of aroma chemicals through our safety process
laboratory, in line with the principles of Green
Chemistry, enables us to enrich our capabilities for
innovative fragrance and flavor solutions. This year,
we commissioned a new chemistry plant in India
with additional capacity which is key for the future
of our captive molecules, and to enable us to “make
our own” aroma chemicals in dire supply conditions
further to the domino effect caused by the numerous
raw material crises.
Our commitment to sustainable innovation also
includes designing more eco-friendly chemical prod-
ucts and processes so as to reduce or eliminate the
use of hazardous substances. In 2011, we designed
our own assessment tool named Green Motiong
based on the 12 principles of Green Chemistry
introduced by P. Anastas and J. Warner. Green
Motion rates the health, safety and environmental
impact of manufactured ingredients for the flavor
and fragrance industry on a 0 to 100 scale. The safer
and the less impactful the process, the higher the
rating. Green Motion has been widely implemented
within our organization as a tool to design more eco-
friendly flavors and fragrances and is gaining more
awareness at our customers, who are placing it at
51
6/13/19 3:18 PM
 2019 Flavor & Fragrance Leaderboard
the heart of their reflection about the environmental
footprint of their products.
I am also proud to announce that, after being
awarded the 2017 CSR Challenges Trophy for our
environmental approach, we accepted the Top
Sustainable Family Business award in 2018, which
recognizes the efforts of the group towards sus-
tainability and ethics, particularly the setup of a
whistleblowing hotline in 2016 and the creation of a
group ethics committee which reports to me.
Raw material shortages continue to chal-
lenge the industry’s supply. What is the future
of natural ingredients and how do you propose
a more stable supply chain for the future? How
are synthetic ingredients playing a role in this
stability?
Raw materials shortages have particularly
affected the industry over the last years, making our
responsible purchasing policy ever more crucial: the
quality of our relationships with suppliers helps to
sustain our supply chains in the long term. We are
committed to building lasting relationships with
suppliers all around the world based on balancing
individual interests, trust, and reciprocal corporate
social responsibility (CSR) commitments. We believe
we have a responsibility to influence the actions
of our suppliers in terms of both environmental
and socio-economic impact. This ambition aims to
incorporate CSR as a key selection criterion for our
suppliers, alongside aspects such as quality, cost and
deadlines. For this reason, our responsible purchas-
ing policy is an integral part of our CSR strategy
and we expect our suppliers to adhere to the Group’s
ethical and CSR principles. To achieve this aim,
we ensure suppliers are linked to a CSR policy and
provide support to evaluate their practices and carry
out on-site audits.
By the end of 2017, already more than 90%
of the purchases made at MANE Bar-sur-Loup
were from suppliers committed to a CSR policy
(either by signing our Purchasing and Sustainable
Development Charter, or by communicating a CSR
report verified by an independent third party),
thereby exceeding our 2021 objective. In the future,
we will continue to work towards growing the
proportion of significant suppliers to have undergone
a CSR assessment such as an on-site audit by Mane,
Ecovadis evaluation or on-site audit by an indepen-
dent third party using the SMETA standard. We are
giving priority in our audit schedule to suppliers
identified as potentially most at risk, with a low self-
evaluation score or presenting a potential CSR risk
linked to their product or country of origin.
We particularly focus on building more stable
supply chains and sustainable sourcing projects
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PF1907_Leaderboard_fcx.indd 52
on specific naturals such as vanilla and iconic
perfumery flowers produced in the Grasse region.
In Madagascar, we have developed strong ties with
local communities and endeavor to constantly create
shared value with all stakeholders involved in the
vanilla supply chain. Following initiatives in place
since 2009 to support the FITAMA cooperative to
produce fair trade certified vanilla, Mane renewed
its commitment by signing a tripartite agreement
with FANAMBY NGO and FLORIBIS in May 2014.
The aim was to implement an entirely traceable
vanilla supply, from pollination to the flavor stage
in order to ensure a stable supply while guarantee-
ing complete traceability along the supply chain
and ensuring the quality control of vanilla beans
from farming communities in the north-western
part of the great island. From a social perspec-
tive, the vanilla responsibly purchased by Mane in
Madagascar complies with ethical standards and
positively impacts 10,000 farmers.
Furthermore, we have implemented a five-year
reforestation program in a protected area to limit
forest destruction due to plantation expansion, and
reintroduced several years ago the cultivation of
vetiver Bourbon in collaboration with the communi-
ties involved in the vanilla supply chain to generate
a second source of income for the farmers, thus
strengthening the sustainability of this value chain.
For several years now, as part of its responsible
purchasing policy, Mane has been committed to
building special relationships with small growers of
perfume plants from Grasse and Provence such as
narcissus, jasmine, Centifolia rose, mimosa, lavandin
and cypress.
While consumer demands are applying
pressure to F&F companies for more transpar-
ency and sustainability, regulations are adding
an extra obstacle to the flavor and fragrance
industries. What role will regulations play in the
future of the industry and how is your company
responding to them?
On the regulatory front, our experts are actively
involved within national and international orga-
nizations across the world to council and help
shape the definition of regulations by govern-
ments. Although we have been keen to encourage
common approaches in the definition of flavoring
and fragrance regulations, we have observed that
the political changes that have happened over the
last years have moved governments away from a
global approach and pushed towards more national
protectionism. As elected president of IOFI, I am
responsible for guiding the board in strategy develop-
ment and implementation of the global association’s
initiatives in science, advocacy, communication
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World of Flavour & Fragrance

Stock locations United Kingdom • The Netherlands • China • USA • UAE

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 2019 Flavor & Fragrance Leaderboard
and sustainability, and my main priority will be to
maintain and eventually extend a global approach
to the safety evaluation and regulation of flavorings.
In the case of dual ingredients, yet another layer of
complexity is being added to an already extremely
complex regulatory and certification environment.
As president and CEO of Mane, the quality and
safety of our products in compliance with regulations
wherever our flavors and fragrances are used, is and
always will be my utmost priority. To do so, we have
built a network of regulatory affairs experts around
the Group so that regulatory compliance becomes a
key differentiation factor for Mane, not an obstacle.
In line with our CSR commitments, we are also
engaged on the key topics of transparency and
sustainability. Transparency has become the hottest
topic in our industry, particularly on the fragrance
side. We partner with our customers in different
exercises of transparency aimed at giving more infor-
mation to consumers about the composition of the
fragrance used in their favorite branded products,
yet believe that tackling the delicate subject of the
protection of formulations and “business secrecy”
should be resolved in a global and harmonized way.
The consumer demand for more sustainability is
a positive trend pushing the industry to find more
sustainable sources of raw materials, which has
always been at the heart of our concern at Mane.
The issue posed by the demand for more sustain-
ability stems from the various interpretations of
what is sustainable, which is why we were active in
the drafting of the sustainability charter of IFRA/
IOFI and why we have conceived Green Motion
to be a comprehensive tool for the assessment of
how sustainable an ingredient or a formula is. Our
efforts have been acknowledged by professor Roger
Sheldon, a recognized authority on green chemistry,
world widely known for developing the e-factor
concept, in the article he published for the 25th
anniversary of this metric, in which he describes the
rise of e-factor and more generally green chemistry’s
global impact on environmental footprint minimiza-
tion in the chemical industry, quoting Mane and
Green Motion as an exemplary application to assess
the “greenness” of a process and product in the gate-
to-gate manufacturing domain.
Increasingly, the F&F industry has looked at
digital advancements, like AI and VR, as ways to
grow and improve its business. How have these
technologies inspired F&F and what role do
these technologies play in its future?
Digital advancements such as the emergence of
artificial intelligence tools allow us to go further in
the understanding of consumers and the way our
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PF1907_Leaderboard_fcx.indd 54
creations move them. The continuous increase of
data available from consumer research and new
possibilities offered by big data analysis, machine
learning or deep learning can be applied to our
industry as opportunities to process data faster or
differently, like aggregating, modeling or predicting
information from plural sources. At Mane, we want
to utilize the power of AI to create new tools to help
identify what will resonate with a specific data set,
such a particular age group in a particular geogra-
phy. We believe this power can be used as a tool to
direct our perfumers and flavorists’ work to deliver
against a particular brief target but cannot replace
their creative impulse. The application of data
analysis and AI can also be of great use at the source
of our natural raw materials, helping farmers gather
numerous data sets to improve their agricultural
practices depending on the weather conditions for
instance, while blockchain technology can be used
as an efficient solution to prove the traceability from
farm to final product which is increasingly sought
by consumers.
One of the biggest challenges in the 21st
century is the threat of global warming and the
ecological disasters associated with it. In terms
of your own company, what specific initiatives
have you taken part to become more sustainable?
Mane is committed to sustainable and profitable
development, driven by a long-term vision. With this
in mind, we have been developing our Corporate
Social Responsibility (CSR) strategy for several years
now to find a balance between economic growth,
respect for people, and environmental protection, all
of which are essential for the long-term prosperity of
our company.
The group is involved in various local and inter-
national associations and organizations that develop
its economic framework to encourage sustainable
development in partnerships with various company
stakeholders. Our international commitments include
the United Nations’ Global Compact, of which we
have been a signatory since 2003, hence being the
first in our industry to adhere to this initiative.
As a signatory of the UN’s Caring for Climate
initiative since 2007, we have made a voluntary
commitment to help fight climate change, and set the
goal of reducing CO2 emissions per tonne of product
by 15% between 2009 and 2021 and of increasing
the percentage of renewable energy in total energy
consumption to 10% by 2021.
In 2015, we signed the Paris Pledge for Action,
thereby committing to support all actions towards
ensuring the objectives of the Paris Agreement,
signed during the COP 21, are met or surpassed in
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 2019 Flavor & Fragrance Leaderboard
order to limit temperature increases to less than
2° Celsius. To demonstrate this commitment, we
revised our energy consumption objectives in 2018:
after surpassing our 2021 objective to reduce by
20% the energy consumption per tonne of product
compared to 2009, we now aim to reduce CO2 emis-
sions (Scopes 1 and 2) per tonne of product by 40%
by 2025 compared to 2016, increase the percentage
of renewable energy in total energy consumption to
33% by 2025 and reduce the absolute value of CO2
emissions (Scope 3) by 20% by 2025 compared to
2016. This year, we have decided to take things a step
further with a green electricity contract representing
100% of the total electric consumption of our French
production sites.
In terms of waste management, we have already
exceeded our target for 2021 to recover over 80%
of all our waste generated, both hazardous and
non-hazardous, four years earlier than expected. We
also made great strides towards achieving our goal
to ensure that more than 90% of our total shipped
product tonnage is from ISO 14001 certified sites
by 2021 as Mane’s two production sites in Indonesia
(Cibitung and Cikarang) were certified ISO 14001
for their environmental management system in
October last year.
Our commitment to sustainability has also been
embedded in our efforts to design and construct
greener buildings as part of a holistic approach
to sustainability. In France, our new reception
center received the LEED Gold certification, one
of the world’s most demanding and recognized
certifications that rewards the high environmental
quality of buildings. And as announced in 2017, we
inaugurated a new manufacturing site in Medellin,
Colombia, which did not simply double our pro-
duction capacity: this intelligent construction was
conducted under LEED standards built with con-
vergent, efficient and sustainable systems focused
on the respect and care for natural resources as part
of our commitment to sustainability and the protec-
tion of the environment. Its bioclimatic design
provides adequate lighting, ventilation and indoor
air quality combined with a closed cycle of water
consumption with a rainwater and wastewater
treatment plant.
Lastly, what are Mane’s plans for 2019? What
are some of the categories your company is
focusing on and where do you think the future of
F&F is heading?
Looking ahead, we will continue to build on our
strategy to invest in fundamental research to fuel
our capacity to innovate, putting a strong emphasis
on researching new technologies and processes to
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PF1907_Leaderboard_fcx.indd 56
produce raw materials with a low environmental
impact. This objective has been at the heart of the
development of Green Motion, which we have used
as a continuous improvement tool to take a greener
approach to the production of aroma chemicals
and natural extracts. Mane has also developed
its own production of natural molecules through
the use of classical fermentation and enzymatic
reactions since 1987, the year of the establishment
of our biotechnology department, as another way
to reduce our environmental impact. We comple-
ment our approach by building more stable supply
chains of natural raw materials by vertically
integrating or establishing technical, economic or
societal partnerships with the growers, to ensure
they receive a decent revenue from their crop or
from the development of additional cultures, and
by promoting the respect of good farming practices
to reduce the use of pesticides for instance. In this
respect, the acquisition of Kancor has opened new
horizons, not only in India, to actively include all
actors in the supply chain of the flowers, roots,
fruits and spices processed by our Indian extrac-
tion units. Our goal is to work towards improving
the livelihood of our upstream and downstream
partners, all the way to consumers.
We will also maximize the use of the significant
investments initiated in the past years to further
increase our global footprint and reach, with the
addition or expansion of our research and develop-
ment capabilities, including dedicated facilities for
consumer insight and sensory research, as well as
our production capacity in strategic markets.
In China, the construction of our new production
hub in Pinghu, Zhejiang Province is well under way
and is expected to start operations in 2020. The new
site will substantially increase our manufacturing
capacity whilst maintaining best-in-class service
levels to its customers across Greater China and
Korea. With a total investment of $60 million, it is
our largest investment in China to date. This invest-
ment in this key high growth market is another
significant milestone in achieving our ambitions.
By further building-up our capabilities in China, we
confirm our position as a strategic partner to our
customers on the mainland. We aim to continue
growing with them to anticipate and meet future
consumer needs and preferences.
In the United States, we continue to build on the
added capacity in our flavors production plant, while
planning major investments to our fragrances produc-
tion facilities in New Jersey after the grand opening of
our Fragrance Development Center this year.
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 2019 Flavor & Fragrance Leaderboard

Takasago
Tokyo, Japan
Total sales: ¥141,592 million* / $1,278 million

T
akasago’s consolidated net sales rose
3.5% year over year to ¥141,592
million, with its flavors business
growing 1.5% year over year to
¥83,312 million as a result of the
strong performance by its German subsidiary. Net
sales on the fragrance side rose 6.3% year over
year to ¥38,183 million as a result of the strong
performance by the French subsidiary. Aroma
ingredient sales also rose by 8.4% to ¥11,409, with
growth attributed to the steady performance of
menthol, the business segment’s mainstay.
*FY ended March 31, 2018. Source: Takasago's annual report
Regionally, net sales in Japan decreased by 0.3%
year over year to ¥65,340 million, while operating
income grew by 5.1% to ¥2,631 million as a result of
the strong growth in the aroma ingredients business.
Net sales in the Americas grew by 2.9% to ¥32,359
million, while operating income decreased 45.7%
to ¥610 million due to increasing costs incurred to
strengthen the US subsidiary’s infrastructure. In
Europe, net sales grew by 21.2% to ¥22,083 million,
with operating income increasing by 92.8% to ¥1,224
million, with strong performance by the German
subsidiary. Asia’s net sales rose by 1.2% to ¥21,809
million, while operating income fell by 32.9% to
¥1,771 million due to the shortcomings of the
Singaporean subsidiary.

Satoshi Masumura
President and CEO

Since last year, what has Takasago done to

maintain or raise its position on the leaderboard?
What would you attribute your success in 2018?
The Takasago Global Plan, which started in 2009,
has been driving a string of three-year mid-term
management plans toward 2020 as we approach our
100th anniversary. In 2018, “One-T” began as the
final mid-term management plan. Up until then, we
have dealt with various challenges in each depart-
ment, but the name “One-T” embodies our resolve to
execute the business plan by dealing with important
issues which must be tackled as the group in unison
through unifying the entire Group as truly One-
Takasago worldwide.
One-T focuses on five basic policies: customer
satisfaction, business growth, strategy, technical
Satoshi Masumura, President and CEO
innovation, profitability improvement and human
resources development. These five basic policies are
centered upon the “corporate” concept, which signi- operating systems, facilitate consistent management
fies that we tackle challenges as the group in unison. and develop better global communication. As a
To realize One-T, we must strengthen cooperation means to this end, we have established a new Global
and collaboration between group companies, which Integration Headquarters, which has been striving
up until now have been operating with emphasis to rapidly enhance governance like never before and
on independence, standardize criterion, build improve global functions.

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 Despite consumer perceptions of synthetic flavors and fragrance, Masumura believes that synthetic ingredients could play a major role in resolving natural raw material
issues, if clients and consumers are educated correctly in its uses.
One-T is the mid-term management plan, and
we are at the very stage of bringing its true success
into fruition. However, many initiatives founded
in the five basic policies and corporate concept are
already underway at Takasago. In terms of business
growth strategy for example, Takasago has not only
begun construction on a new factory in Indonesia
but is also looking into building a QC center and
logistics center in Germany. In technical innovation,
we are furthering both group cooperation as well
as open innovation to drive added value proposals
in fragrances and flavors though greater synergy,
while collaborating with other companies, different
types of industries, research institutes and universi-
ties. Takasago organically integrates three types of
innovations: “concepts” to generate new value by
scientifically analyzing and assessing the human
senses, “products” to materialize those concepts
into original products, and “processes” to establish
safe and efficient production technology with a low
environmental impact. Takasago will bring unique
and effective technologies and products into reality,
which focus on our corporate philosophy to contrib-
ute to society through technology.
PF1907_Leaderboard_fcx.indd 59
Raw material shortages continue to challenge
the industry’s supply. What is the future of natural
ingredients and how do you propose a more stable
supply chain for the future? How are synthetic
ingredients playing a role in this stability?
I also feel customer awareness about natural
ingredients is gradually growing. Even with regional
differences, this global trend will remain strong. We
can expect the demographic trends and economic
development spoken of often, including an increas-
ing population and growth of the middle class, to an
influence of greater consumption of natural ingredi-
ents in foodstuff as well as fragrances. We can also
see needs for natural raw materials, such as greater
use of biofuel, to grow in various fields besides
flavors and fragrances. This climate will make com-
petition to procure natural ingredients increasingly
fierce worldwide.
Takasago responded to these circumstances by
starting a program to sustainably procure strategic
raw materials under the name Takasago Global
Procurement Sustainability Key Initiatives (TaSuKI).
Specifically, we are (1) formulating and implement-
ing basic procurement policies for long-term, stable
59
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 2019 Flavor & Fragrance Leaderboard
procurement of strategic raw materials, (2) provid-
ing support to the producers and local communities
in various regions worldwide to preserve the
environment for sustainable procurement, (3) ensur-
ing full compliance to practice ethical procurement
activities through our supply chain and (4) vitalizing
communication with our outside stakeholders about
our procurement activities in order to support the
above. In the research field, Takasago furthers the
development of alternative materials friendly to both
people and the environment in addition to promot-
ing activities that include the use of renewable raw
materials to preserve the biodiversity of natural
flavors and fragrances.
The use of synthetic ingredients could be a
major key to resolving the issues surrounding the
procurement of natural raw materials including
their limitation of resources and susceptibility to the
climate and political situations. Raising awareness
in both client manufacturers and consumers about
the safety and functionality of synthetic ingredients
is vital in order to further the use of these materials.
Takasago started its business as a synthetic perfume
and flavor manufacturer with a century of history.
We will continue working to research and develop
synthetic aroma ingredients, and we hope to con-
tribute to resolving the challenges involving natural
raw materials.
What are some of the regional differences you
are seeing across F&F categories? Are you seeing
any common themes between these differences?
If so, what are they and how is this driving your
business?
If we compare flavors and fragrances, up until
now flavors are used to bring depth to things such
as food culture, palatability and even religion, while
creating diverse markets distinct to each region.
However, the expansion of globalization, social net-
working services and other communication tools is
reducing the diversity between regions and bringing
out common traits. Among these traits are natural
consciousness that includes natural foods and clean
label, and health consciousness that includes sugar
and salt reduction. These needs are not only shared
in American and European markets but also other
markets worldwide including new emerging markets.
Even though the needs for easy-to-prepare meals
gain greater traction due to changes in lifestyles,
people’s desire for great taste is further expanding.
Even with fragrances, health consciousness and
needs for environmental friendliness have become
cross-regional trends. On the other hand, emerg-
ing markets show a strong demand for economic
value. Flavors and fragrances companies must be
able to respond to these diverse needs, and the
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PF1907_Leaderboard_fcx.indd 60
responsibilities of suppliers with emphasis on safety
and security are ever growing.
While consumer demands are applying
pressure to F&F companies for more transpar-
ency and sustainability, regulations are adding
an extra obstacle to the flavor and fragrance
industries. What role will regulations play in the
future of the industry and how is your company
responding to them?
Flavors and fragrances are encompassed by a
variety of regulations from the procurement of raw
materials to production and distribution. U.S. and
European countries have led in these regulations,
but new emerging markets have been enacting a
wide range of regulations in recent years. If we
consider the role required of flavors and fragrances
companies beyond these regulations, we find an
extremely broad range of requirements that include
environmental regulations, religious precepts and
Sustainable Development Goals (SGDs).
Regulations certainly limit freedom in scent
creation. At the same time, they give a feeling of
safety to consumers and might lead to new creation.
Flavors and fragrances companies must take a
positive approach to these trends as an opportunity
without reservation that such circumstances will
obstruct corporate activities. We must respond
proactively to protect and further our interests as
well as those of all of our stakeholders from client
manufacturers to consumers. These activities should
earn people’s trust and peace-of-mind toward flavors
and fragrances and further enhance their presence.
Takasago engages in various efforts toward regula-
tions in all facets of its business from research and
development to procurement and manufacturing.
Increasingly, the F&F industry has looked at
digital advancements, like AI and VR, as ways to
grow and improve its business. How have these
technologies inspired F&F and what role do
these technologies play in its future?
Greater attention to Artificial Intelligence (AI) in
recent years has incited some distinct features in the
digital field unlike the repeated booms of the past. The
social environment referred to as an information-ori-
ented society cultivates AI and AI in turn accelerates
an information-oriented society to complete a timely
cycle. Currently, digital technology more heavily
affects industries with images, audio and other data
which are easy to convert as big data, but the flavors
and fragrances industry is no different. Considering
the development speed of digital technology today,
all industries including the flavors and fragrances
will reap the benefits of this new development while
6/13/19 3:19 PM
 also directly encountering its threats. The flavors and
fragrances industry as user should clarify its purpose
of use before getting engaged.
One of the biggest challenges in the 21st
century is the threat of global warming and the
ecological disasters associated with it. In terms
of your own company, what specific initiatives
have you taken part to become more sustainable?
Companies require efficiently smart operations to
effectively use limited resources and form a sus-
tainable, recycle-oriented society. In this endeavor,
Takasago pours its strength into 3R activities in
manufacturing by reducing, reusing and recycling.
We interweave knowledge and ingenuity to maximize
the use of many emissions, such as residue from raw
materials, waste water, sludge, waste oil, waste sol-
vents, scrap from equipment and containers, in order
to aid in stable operations and corporate growth. The
advanced continuous flow reaction technology, with
which Takasago is leading in the industrial produc-
tion, also contributes to high thermal efficiency and
waste reduction. In Takasago’s fine chemicals and
aroma ingredients businesses, asymmetric synthesis-
using catalyst is playing a vital role and contributes
to a sustainable society. In procurement, Takasago
has been conducting the TaSuKI project to sustain-
ably procure strategic raw materials, and in research,
we work to incorporate green chemistry.
In recent years, manufacturing sites of chemical
companies worldwide are confronted by accidents.
It goes without saying that safety at manufactur-
ing sites is a major prerequisite for sustainability.
PF1907_Leaderboard_fcx.indd 61
Takasago has set April 10 as a Safety Day throughout
the entire group, including all overseas sites. We
provide education and enlightenment and inspect
equipment by recognizing “safety above all else”
in order to cultivate a culture of safety. We see the
Safety Day as one part of sustainability and focus
our strength.
Lastly, what are Takasago’s plans for 2019?
What are some of the categories your company is
focusing on and where do you think the future of
F&F is heading?
Dealing with challenges caused by the rising
prices and lack of raw materials are urgent issues
in the second year of the One-T mid-term manage-
ment plan in 2019. In addition to the strategies that I
have already discussed, we have been standardizing
raw materials, facilitating sourcing from multiple
companies and enhancing aspects of business such
as international bids.
Scent is something that further elevates delicious-
ness of food, and even contributes to the treatment
of patients in medical facilities and is a necessity in
a wide range of fields in the society and purposes
to deepen the quality of life in both mind and body
of people. It has potential to be utilized in much
broader areas and purposes than we currently recog-
nize, and flavors and fragrances companies have an
important mission to pursue these possibilities. I am
certain that opportunities for flavors and fragrances
companies to contribute to people’s healthy mind
and body and to play an ever greater role to enrich
their lives will continue to expand in the future.
61
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 2019 Flavor & Fragrance Leaderboard

Sensient Technologies Corp.

Milwaukee, Wisconsin / Hoffman Estates, Illinois
2018 sales: $746,932 milliona

F
ollowing the restructuring of its flavor
business in 2017, which included
divesting non-strategic and low margin
business, Sensient maintained its flavor
and fragrance business, while setting it
up for growth in 2019 and beyond. Focusing on the
consumer, the company is looking to capitalize on craft
beverage and non-dairy markets, while also finding
ways to tap into the fire and spicy trend, apparent in
spicy cocktails and Nashville hot chicken flavors.
a http://investor.sensient.com/file/Index?KeyFile=396760728 (The numbers taken
In addition to following consumer trends and
growth opportunities, the company has made prog-
ress on its sustainability initiatives. The company
implemented the use of a forest product chain-
of-custody certification for raw materials sourced
from sustainable forest operations and has found
success with its SensiCaps line of microencapsu-
lated fragrances formulated without formaldehyde.
Additionally, the company has established a 10-year
goal to reduce energy, water and hazardous waste
by 2025.

for the leaderboard only include Sensients’ flavor and fragrance business.)

Paul Manning
CEO

Since last year, what has Sensient done to main-

tain or raise its position on the leaderboard? What
would you attribute to your success in 2018?
2018 sets up Sensient’s F&F business for long term
success. We completed our flavor business restructur-
ing program in 2017, divested all non-strategic and
low margin business and consolidated our manufac-
turing footprint to improve operating efficiencies.
Our customers continue to express that speed and
user experience as drivers of success for their brands.
Being able to bring flavors, colors and technologies
under one final product that exceeds sensorial taste
expectations, and doing that with speed, differenti-
ates us from the rest. Our customers highly value our
synergistic approach to execution, and we will continue
to do that.
Our problem-solution mindset towards product
innovation also resonates with customers. In 2018,
we made some significant investments in clean
technologies to complement consumer demand for
the clean label and functional benefits. One important
step in this direction is the acquisition of a clean
water extraction company, Mazza Innovation LLC. In
addition to the acquisition, Sensient has made a sig-
nificant investment in the field of application science
to explore the true drivers of success when it comes to
Paul Manning, CEO
application challenges.

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 As consumers become more adventurous with their flavors, Sensient sees an opportunity with blending flavors and offering a greater range of tastes.
Raw material shortages continue to challenge
the industry’s supply. What is the future of natural
ingredients and how do you propose a more stable
supply chain for the future? How are synthetic
ingredients playing a role in this stability?
Flavors are integral to a brand’s success. On that
front, clean label is synonomous with products that
come with supply chain and raw material assur-
ances. Whether it is vertical integration or “farm
to formulation” guarantee, without this assurance,
there are very few ways left for brands to commit
to this promise. Synthetic flavors cannot compete
in this environment. But this demand has to be met
and is only going to increase pressure to supply clean
ingredients as noted in the question.
Crop volatility and compromised supply chain
have historically hurt customers and their brands.
Our approach is to help our customers mitigate this
risk. Generic products like vanilla can be switched in
a formula; however, for a specialized set of products
such as extracts, there is room for suppliers to bring
differentiation with a sustainable mindset from the
crop itself. Starting with a healthy supply chain is the
best assurance we can give to our customers. Vertical
integration is one obvious way; another is to leverage
innovation in application science and technology to
PF1907_Leaderboard_fcx.indd 63
extend the efficiency of all the clean ingredients in a
meaningful way.
What are some of the regional differences
you’re seeing across F&F categories? Are you
seeing any common themes between these dif-
ferences? If so, what are they and how is this
driving your business?
The consumer flavor palate is expanding, facili-
tated by immediate access to new and exciting foods.
Digital platforms have created an ecosystem that
facilitates quick absorption of new trends. With that
comes flavor migration and blurring of regional
taste profiles. One observation is an exponential
increase in acceptance of fiery flavors, ex. Nashville
hot chicken and spicy cocktails. Some categories
are experiencing more changes versus others, but in
general, this blending of flavors is creating an excit-
ing time for consumers to experiment and satisfy a
wide array of their taste desires.
Our primary intent in these efforts is to prepare
our customers to be more agile and proactive in
their product development process. This fact has
influenced how we service our customers with
flavor concepts that are grounded in familiarity but
also stretches their taste experimentation. Sensient
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 2019 Flavor & Fragrance Leaderboard
With veganism and vegetarianism on the rise, Sensient hopes to tap into this growing market.
has not only been consistent in investing time and
resources towards understanding and predicting
global flavor profiles, but also how these flavors are
incorporated into the various product formats, from
beverages to vegan products.
While consumer demands are applying
pressure to F&F companies for more transpar-
ency and sustainability, regulations are adding
an extra obstacle to the flavor and fragrance
industries. What role will regulations play in the
future of the industry and how is your company
responding to them?
Sensient’s efforts on sustainability and tran-
parancy are pillars of our success. Defining and
taking ownership of sustainable efforts is the best
way to comply with uncertain regulations. The
long term health of the ecosystem of our farms and
supply wellbeing is reflected in our acquisition of
a clean botanical extraction company along with
creating flavors with clean technology, provenance
and free of palm oil. Our sustainability efforts in
fragrance are reflected in using “green chemistry”
principles to minimize chemical process; an example
b SensiCaps is a registered trademark of Sensient Technologies.
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PF1907_Leaderboard_fcx.indd 64
is our SensiCapsb line of microencapsulated fra-
grances formulated without formaldehyde. We have
also implemented the use of a new forest product
chain-of-custody certification for raw materials
sourced from sustainable forest operations.
These efforts are just some of the examples of
our collective effort in safeguarding our resources
and investing in people who ultimately are respon-
sible for cultivating a sustainable mindset in the
organization.
Increasingly, the F&F industry has looked at
digital advancements, like AI and VR, as ways to
grow and improve its business. How have these
technologies inspired F&F and what role do
these technologies play in the future?
Technology is integral to our business strategy,
be it understanding the molecular genetics of the
ingredients or partnering with orgnanizations who
are using computer learning to make sense of the big
data universe.
That said, it is important to maintain a healthy
balance between technology and how it gets imple-
mented. It is too early to see how AI can shape the
flavor business, but early adoption is key to any
future success.
6/13/19 3:19 PM
 One of the biggest challenges in the 21st
century is the threat of global warming and the
ecological disasters associated with it. In terms
of your own company, what specific initiatives
have you taken part to become more sustainable?
Sensient is committed to the principles of sound
environmental stewardship and the responsible and
sustainable use of energy and natural resources. To
mention a few:
• We established 10-year goals to reduce energy,
water and hazardous waste intensity by 2025
• Our seed-to-shelf program focused on sustainable
supply chain
• Emphasis on new products and technologies that
reduce environmental pollution and conserve
natural resources
Sensients has taken several actions to lower its
carbon footprint, investing in facilities and technolo-
gies that carry sustainability and efficiency as its
guiding principles.
Lastly, what are Sensient’s plans for 2019?
What are some of the categories your company is
focusing on and where do you think the future of
F&F is heading?
Expanding consumer taste and demand for
clean products are creating some interesting
PF1907_Leaderboard_fcx.indd 65
opportunities in the food and beverage industry.
The merging of consumer needs is reflected in the
number of innovations that reach the store shelves
every year. Craft beverages and non-dairy products
are leading segments for innovation.
• Sensient will continue to expand our efforts in
extracts. We will differentiate on taste, rigorous
quality control, vertical integration, and clean
extraction technologies.
• Lead with a problem-solution mindset with our
technology on taste modulation, focus on sugar
and sodium reduction and protein masking. Show
demonstrable difference in product segments that
have an inherent issue for unfulfilling taste profile,
such as non-dairy formulations.
• Veganism is on the rise leading to innovative
brands that did not exist a few years ago. Sensient
will be playing an important role in these growing
segments.
• Continue to provide the customer with integrated
flavor, color and technology solutions.
Sensient will strive to find the best balance
between creativity and functional needs to develop
flavors and fragrances with the highest acceptance
and the best performance final product.
65
6/13/19 3:19 PM
 2019 Flavor & Fragrance Leaderboard

Robertet
Grasse, France
2018 sales: €525 million / $620 milliona

I
n 2018, Robertet continued its growth by
posting e525 million in sales, an increase of
7.5%, led by growth with new and former
clients. In addition to focusing on natural
flavor and fragrance ingredients, the
company has expanded into new business segments,
including the health and beauty space.
a https://www.robertet.com/en/financial-information/figures-about-the-group/
Similar to other F&F companies, Robertet has
faced raw material challenges in 2018, specifically
in the case of synthetic ingredients. However, the
company has responded with a range of business
initiatives and programs. Robertet also continued
its work with Ginkgo Bioworks in order to deliver
lactone products and is looking to grow in 2019
following emerging health and wellness trends.

Phillippe Maubert
Chairman and Global President

Since last year, what has Robertet done to

maintain or raise its position on the leaderboard?
What would you attribute to your success in 2018?
Robertet continues its significant organic growth
in 2018 with a 7.5% increase in sales (@ constant
currency). This increase was fueled by growth with
new and current clients seeking to leverage our 180-
year history in natural raw materials along with our
most recent innovations and new product offerings.
With the global wellness market worth more than $4
trillion, we have focused significant effort in build-
ing our portfolio for the global wellness consumer.
Robertet’s newest business division, health and
beauty, has also contributed to our expanded product Phillipe Maubert, Chairman and Global President
offering in a very positive way. We have maintained
our position in the more traditional fragrance
and flavor businesses and broadened our client Raw material shortages continue to challenge
base without diluting our laser focus on customer the industry’s supply. What is the future of natural
satisfaction. ingredients and how do you propose a more stable
Overall, we are proud of the robust category supply chain for the future? How are synthetic
and client expansion that we saw in 2018. We saw ingredients playing a role in this stability?
geographical growth into the developing markets of Similar to other companies in our industry,
India and China as well as continued success in the Robertet has felt the impact of the challenges that
mature and highly competitive markets of the United the synthetic ingredients market presented in 2018.
States and Europe. Our early assessments of suppliers in those categories

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PF1907_Leaderboard_fcx.indd 66 6/13/19 3:19 PM

 While addressing raw material challenges, Robertet is continuing to deliver a palette of natural flavor and fragrance ingredients that resonate with consumers.
have shown strategic reconfigurations of their supply
chains to offer better stability. From our perspective as
a main reference in natural ingredients, we continue
to invest in our global affiliates dedicated to specific
sourcings and our partner farms to continue to offer
unique natural raw materials as well as enhancing
the supply positions of traditional raw materials.
Robertet’s long history and established position in
Corporate Social Responsibility (CSR) will continue
to guide our actions in those investments.
Our work in cultured ingredients with our
partner, Boston-based Ginkgo Bioworks, has resulted
in the successful commercialization of products in
the lactone family. This joint achievement which
has opened a channel for new product development
beyond our traditional sources.
What are some of the regional differences
you’re seeing across F&F categories? Are you
seeing any common themes between these dif-
ferences? If so, what are they and how is this
driving your business?
Differences in regional markets in F&F cat-
egories can be driven by any number of factors,
whether it is economical differences, regulatory/
legality differences, or consumer preferences and
PF1907_Leaderboard_fcx.indd 67
lifestyles to name a short few. For instance, con-
sumers across the globe are concerned about their
health and wellness but respond in varied behaviors
across regions. Some regions see growth in “ancient
wisdom” and the traditional natural remedies of
their ancestors while other regions may focus more
on healthy eating and weight loss products. What
is common across these differences is that natural
is perceived by a consumer as better-for-you, as
evidenced by the clean label trend across F&F
categories around the globe. With natural being a
key part of the DNA of Robertet, we are constantly
harnessing our knowledge of natural products to
bring healthy solutions to these wellness categories,
bringing value to our clients.
While consumer demands are applying
pressure to F&F companies for more transpar-
ency and sustainability, regulations are adding
an extra obstacle to the flavor and fragrance
industries. What role will regulations play in the
future of the industry and how is your company
responding to them?
Transparency and sustainability are extremely
important, even essential factors for the future
of our industry. While regulations vary by region,
67
6/13/19 3:19 PM
 2019 Flavor & Fragrance Leaderboard
While natural disasters have impacted citrus and vanilla crops in the past, climate changes and global warming poses a direr challenge for flavor and fragrance
ingredient companies.
the main themes are indeed transparency and
consumer safety. Regulation may seem like an
obstacle, but we choose to view them as a protec-
tion for our industry against lower quality products
and long-term supply issues. These regulations
are just minor hurdles in a long list of challenges
that Robertet has had to successfully navigate
through our continued leadership in the naturals
industry to service our clients. We all know that
industry will be more regulated in the future and
are actively engaged in our industry’s trade associa-
tions and research institutes at all levels. Consumer
safety is a paramount objective as we proactively
work to shape the regulations governing this part
of our industry.
Increasingly, the F&F industry has looked at
digital advancements, like AI and VR, as ways to
grow and improve its business. How have these
technologies inspired F&F and what role do
these technologies play in its future?
68 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 68
We have seen many ways in which the F&F
industry has looked at utilizing technology across
various parts of our business. Whether using
virtual reality (VR) to create more experiential
demonstrations of smell and taste or using artificial
intelligence to help predict consumer behavior
through “big data” type analyses, companies have
worked to incorporate these technologies to benefit
their business. Just as in every other industry,
technology can help advance corporate objectives.
However, if we envision a future where technol-
ogy is a given tool at every company’s disposal,
then the differentiation will always be the human
intelligence and ethos that directs and drives the
technology towards a noble objective. No one can
contest that data collection and pattern analyses
are faster and more efficient because of technol-
ogy, but we believe that true insight comes from
human understanding and empathy—and for that
there is no replacement. We are also seeing the tech
industry come under fire for protecting the privacy
6/13/19 3:19 PM
 of consumer information and further regulation is
expected here as well.
One of the biggest challenges in the 21st
century is the threat of global warming and the
ecological disasters associated with it. In terms
of your own company, what specific initiatives
have you taken part to become more sustainable?
Robertet qualifies our raw material sources
for climate risk as part of our due diligence in
building and maintaining a sustainable palette of
natural ingredients. In the past, climate risk has
been thought of as large-scale natural disasters
such as hurricanes or earthquakes disrupting one
to several sources of an ingredient like citrus or
vanilla. Today and in the future, we see climate
risk with an expanded definition inclusive of the
global phenomenon of climate change and global
warming. This phenomenon touches multiple
regions and sources with changes of global weather
patterns, increasing or decreasing variables such as
temperature or rainfall – critical to growing regions
of natural raw materials. As a company we are
PF1907_Leaderboard_fcx.indd 69
committed to corporate social responsibility and to
developing solutions to continue to deliver quality
natural raw materials as we encounter challenges
around the globe.
Lastly, what are Robertet’s plans for 2019?
What are some of the categories your company is
focusing on and where do you think the future of
F&F is heading?
Robertet is well positioned to grow in 2019 with
some emerging categories in health and wellness,
with our continued focus on bringing natural
ingredients to the forefront of the marketplace. At
this year’s Natural Products Expo West in Anaheim,
CA our global team documented a number of trends
and categories that will inspire development in all
regions across F&F categories, from innovative
beverages to personal care and nutritional supple-
ments. The future of the F&F industry is to continue
to deliver on the changing consumer expectations’
through innovative products – to bring nature and
wellness to all consumer’s everyday lifestyle.
69
6/13/19 3:19 PM
 2019 Flavor & Fragrance Leaderboard

T. Hasegawa
Tokyo, Japan
2018 sales: ¥49.8 billion* / $451 million

*FY ended in Sep. 2018 according to T. Hasegawa’s financial report

Takao Umino
President and COO, T. Hasegawa Co., Ltd.

Tom Damiano
CEO, T. Hasegawa USA, Inc.

Driven by Natural and Clean-Label

The company’s focus this year has surrounded
expanding its clean-label and natural ingredient
offerings. In Feb. 2019, T. Hasegawa established
organic certification at its Cerritos, California pro-
duction facility. Its second manufacturing facility in
Corona, California is also organic certified. Founded
and headquartered in Tokyo, Japan, the company
has proactively responded to its overseas demand in
2018 and years passed.
“Certified organic flavors from Cerritos are a
Takao Umino, President and COO, T. Hasegawa Co. Ltd.
crucial extension of our line of clean-label offerings
to customers,” said CEO Tom Damiano in a press
release. “As our company continues to grow, we are
able to partner with more and more organic projects
around the world, thereby supporting organic prac-
tices, fair wages, and economic development.”
In March 2019, the Corona facility also received
the AA rating from the British Retail Consortium
(BRC) denoting the company’s commitment to safety
and product quality. The company also announced
its pledge against animal testing in March 2018
joining companies like Coca-Cola, PepsiCo and
Ocean Spray, among many others.
According to the 2018 financial reporta, the 2017
domestic flavors and fragrances market expanded to
2% compared to 2016. Total net sales expanded as
a result of sales growth for fragrance products from
the parent company and the China subsidiary. Flavor
reported a growth of ¥42,186 million and fragrances,
¥7,565 million, for a total of ¥49,751 million.
Domestic strategy revolved around anticipating

a www.t-hasegawa.co.jp/en/ir/pdf/fy18_financial_results2.pdf Tom Damiano, CEO, T. Hasegawa USA, Inc.

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PF1907_Leaderboard_fcx.indd 70 6/13/19 3:19 PM

 According to T. Hasegawa, consumers are increasingly asking for adventurous flavor choices or blurred flavor profiles, like chilaquiles and shakshouka flavors for breakfast.
new market demands from an aging population
and health-conscious consumers. Overseas strategy
focused on growing savory flavors and beverage
flavors, while shifting away from synthetic ingredi-
ents to natural to respond to the heightened demand
for natural flavors.
Since last year, what has T. Hasegawa done to
maintain or raise its position on the leaderboard?
What would you attribute to your success in 2018?
Over the past year, T. Hasegawa has leveraged
additional partnership platforms and internal
technological advancements to accelerate product
development so that we can meet the quick changing
consumer preferences beyond conventional products.
Raw material shortages continue to challenge
the industry’s supply. What is the future of natural
ingredients and how do you propose a more stable
supply chain for the future? How are synthetic
ingredients playing a role in this stability?
T. Hasegawa views delivering a stable supply of
products to customers as one of the most important
PF1907_Leaderboard_fcx.indd 71
responsibilities as a manufacturer to ensure cus-
tomer satisfaction and loyalty. We proactively
monitor critical markets by working with our suppli-
ers to gain market knowledge and continuously seek
information from all sources including government,
trade and research associations in order to build a
response to changes in market conditions. We aim
for transparency throughout our supply chain and
share forecasts with our suppliers to better plan
material flow through contracted volumes and price,
where possible.  
As the demand for natural ingredient transpar-
ency increases, making sure the ingredients that
we’re using are both sustainably and ethically
sourced is paramount, however the pressure on
our team to use natural ingredients in our flavors is
minimal given that we have been manufacturers of
innovative natural flavors for over a century.
With customers responding favorably to prod-
ucts with natural flavors, we see that a barrier to
purchase is usually paying a higher price for such
flavors. In overcoming this challenge, our custom-
ers must convince consumers of the value of the
71
6/13/19 3:19 PM
 2019 Flavor & Fragrance Leaderboard
improved, natural product, to justify the potentially
higher price tag, or consider reformulating with
synthetic flavors in which the supply chain can be
optimized to allow price to be often less expensive.
What are some the regional differences you’re
seeing across F&F categories? Are you seeing
any common themes between these differences?
If so, what are they and how is this driving your
business?
Middle Eastern and Mediterranean flavors are
trending higher in popularity. We feel that the trend
to consume new international flavors will continue
as younger consumers are spearheading this appeal
to try new things. Innovation-inspired breakfast
options have trended more internationally such
as chilaquiles and shakshouka which are creating
diversity amongst breakfast flavors.
Consumers around the world use street food
markets as a way to try new flavors and you’re start-
ing to see that trend hit CPG companies taking street
flavors straight to the shelves to attract consumer’s
desire for authenticity.
Lastly, we are seeing trends across regions of
blurred flavor profiles where innovation is winning
out to allow bolder flavors meld with softer compan-
ion flavors giving us a unique twist of familiar flavors.
While consumer demands are applying
pressure to F&F companies for more transpar-
ency and sustainability, regulations are adding
an extra obstacle to the flavor and fragrance
industries. What role will regulations play in the
future of the industry and how is your company
responding to them?
Regulatory changes, product safety, and risk
analysis have been dominant topics within our
regulatory team as we work with our customers and
suppliers to build transparency. Being quick to adopt
best practices in product safety and testing is vital to
our culture.
Risk management and adjusting processes to
meet new regulatory challenges are currently key
concerns for the industry. Our response is working
within our cross functional teams to fuel supply
chain initiatives that provide alternative solutions
thereby providing our customers an organic certified
product that complies with new regulations well in
advance of regulatory deadlines.
We continue to anticipate an increase in regula-
tions and consumer driven third party certification
entities increasing the granularity of data needed
by our customers. T. Hasegawa partners with our
customers before or during exploration of a product
launch to research and determine the acceptability
72 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_Leaderboard_fcx.indd 72
in the interested country. We work with our custom-
ers to fulfill flavors that comply with demands. Over
the past century, T. Hasegawa has sold flavors for
compliance in over 200 countries.
Increasingly, the F&F industry has looked at
digital advancements, like AI and VR, as ways to
grow and improve its business. How have these
technologies inspired F&F and what role do
these technologies play in its future?
AI in the flavor industry has been more sophisti-
cated and functional leading to its use across various
divisions including marketing and operations. In
marketing we unlock data from algorithms that leads
to stronger data which offers value for optimizing
solutions to our customers and potential customers.
In manufacturing, we use AI to assist in complex
decisions as well as automate tasks. We collect data
from sensors embedded in the processing equip-
ment or other front-end inputs and able to monitor
product quality issues. AI and blockchain are two
technologies that are catalyzing the pace of inno-
vation for future growth at T. Hasegawa. These
technologies will allow us to continue to achieve
results in scalability, security, privacy, conversational
platforms with our customers and continue to build
our intellectual property platform.
There are many advancements in the digital
space related to virtual reality and one that we are
anticipating to be leading that charge for the flavor
industry is virtual reality’s effect on our percep-
tions of food and investigating how smell and touch
could be added to VR to influence perception. There
is significant potential in the union of smell and
VR, however technological improvements are still
required and being developed.
Flavor industry influencers are expecting VR
to become a game-changing advertising tool that
provides sensory experiences that are guided and
strategic messaging implanted into the program
to build nostalgic or new innovative techniques. T.
Hasegawa is currently exploring ways that we can
encompass these tools into future campaigns.
One of the biggest challenges in the 21st
century is the threat of global warming and the
ecological disasters associated with it. In terms
of your own company, what specific initiatives
have you taken part to become more sustainable?
T. Hasegawa USA, Inc. is committed to being a
leader in what it means to be a sustainable busi-
ness within the flavor industry. Our ability to hold
ourselves accountable to these standards positively
impact the world through the choices we make
every day.
6/13/19 3:19 PM
 T. Hasegawa is working to reduce its energy use
and greenhouse gas emissions worldwide. Whether
we’re cutting down energy consumption inside our
facilities or finding sustainable ways to transport our
raw materials and finished flavors, T. Hasegawa is
committed to reducing our carbon footprint a little
more each year.
From reducing water use and cutting down
on waste to leading the way in energy efficiency
and partnering with suppliers who also practice
sustainability we are doing our part to give future
generations the chance to enjoy flavorful food. Our
leadership team is committed to continuous invest-
ment within T. Hasegawa to create a system with less
impact to the environment.
Lastly, what is T. Hasegawa’s plans for 2019?
What are some of the categories your company is
focusing on and where do you think the future of
F&F is heading?
2019 is focused on escalating our investments and
expansion in sales, marketing and technical team
PF1907_Leaderboard_fcx.indd 73
members while forging deeper partnerships with our
customers. As we continue to invest in our marketing
efforts we are building contextually-specific content
and focused on assisting our customers to build
value in their businesses through our flavor portfolio
so that we can engage them on a long-term partner-
ship. Our increased technical resources are staying
ahead of product development innovation so that we
can accelerate our customer experience.
Backward integration of our supply chain
continues to be evaluated and invested in so that
we can continue to provide competitive pricing as
well as increased control of our raw materials used
to make flavors.
As consumers’ desire for convenience and better
health and wellness expand, we feel T. Hasegawa
is poised to support our customers meet that
demand. We want to empower our customers with
the flavors that drive purchase decisions or rise in
consumption.
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 2019 Flavor & Fragrance Leaderboard

Huabao International Holdings Limited

Hong Kong, China
2018 sales: RMB 3,981 milliona / $603 million

Chu Lam Yiu

CEO

A
s the flavor and fragrance
industry braces for an
uncertain future with
increased global trade
tensions, rumblings of a
global economic downturn, stringent
regulations and shifting consumer
demands, many F&F companies are in
the midst of a transition. This is true
in the case of Huabao International
Holdings Limited.
In the opening comments of Huabao’s
2018 shareholder statement, Yiu said: “In
2018, the global economy and financial
markets were turbulent due to the rise
of trade protectionism, Brexit and risks
in emerging economies. In 2018, China’s economic customers and responded to the “Big Health” trend
growth rate reached 6.6%, the lowest growth rate in with the launch of sweet and scorch-type extracts
28 years. Against the backdrop of slowdown in the made from highland barley. On the fragrance side, its
macroeconomy, the group adhered to the strategy of personal care fragrance business recorded a single-
concentric diversification focusing on the taste-based digit increase in sales from 2017 numbers, due to
industry and successfully completed the strategic rising demand for shampoo and dye products.
adjustment of its business segment.” To adjust for the changes in the marketplace,
For the twelve months ending Dec. 31, 2018, the Huabao disposed of its VMR Products business,
company recorded revenue from its flavor and fra- which designed, produced and distributed elec-
grance totaling RMB 2,149 million, a slight decrease tronic cigarettes to Juul Labs for $31.3 million in
of about 1.7%. Additionally, the operating profit October 2018. Additionally, the company acquired
of the segment amounted to RMB 1,230 million, a foodservice company Jiahao Foodstuff in Sept. 2018,
slight decrease of approximately 1.8% from 2017 as a means to expand in the fast-growing Chinese
numbers. The stable operating profit was attributed foodservice market.
to the optimization of product mix, a revised market With the future in mind, Yiu said, in her 2018
strategy and development across new markets. shareholder statement: “With such [a] challeng-
In 2018, the company continued to focus on the ing macroeconomic environment, the Group will
stability and taste of its tobacco flavors by research- respond positively by consolidating its share in the
ing flavoring technologies, while also developing existing markets and identifying the problems and
non-combustible flavor products to meet the rising demands of customers and consumers while explor-
demand for e-cigarettes and electronic smoking ing potential new markets to help customers gain
devices globally. For its food and beverage flavors, success. Our management is of the view that with
Huabao maintained relationships with its domestic the advancement of structural shift, China’s economy
will progress amid stability and moves toward a
a http://huabao.todayir.com/attachment/2019032717020200033438659_en.pdf high-quality development path.”
(the financial results only account for Huabao’s flavor and fragrance business)

74 Industry Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_Leaderboard_fcx.indd 74 6/13/19 3:19 PM

 Catch up on our latest videos
and podcasts!
Gain valuable insight on materials, trends and innovations impacting the
flavor and fragance industries.

RECENT VIDEOS

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 Organoleptic Characteristics
of Flavor Materials
This month’s column features discussions on maté absolute,
methyl ketone mix, ethyl-5-hydroxydecanoate, benzoin siam
resinoid and more.

BY JUDITH MICHALSKI
Senior Flavorist, abelei flavors;
jmichalski@abelei.com
Organoleptic Evaluation Panelists
• Gerard Mosciano, Consulting Flavorist
• Deborah Barber, Senior Flavorist, FONA
• Cyndie Lipka, Master Flavorist, Prinova
• Tom Gibson, Director, Flavor Architect, Flavor First Flavors
• Robert Pan, Senior Flavor Chemist, T. Hasegawa USA Inc.
• Alpa Roman, Senior Flavorist, Flavor & Fragrance Specialties
• Bill Aslanides, Senior Flavorist, Synergy Flavors, Inc.
• Aparna Oak, Director of Flavor Innovation, Imbibe
Many thanks to Imbibe for generously hosting this session!

Reproduction
Reproduction in English
in English or any
or any other
other languageofofallallororpart
language part of
of this article
articleisisstrictly
strictlyprohibited.
prohibited.©©
2019 Allured
2016 Business
Allured Media.
Business Media.
76 Flavor Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_Michalski_fcx.indd 76 6/13/19 3:20 PM

 Maté absolute Ethyl-5-hydroxydecanoate
Supplier: Biolandes Supplier: MilliporeSigma
GRAS, CAS# 977146-47-0, Ilex paraguariensis, FEMA# 4444, CAS# 75587-06-3
natural Natural occurrence: Red raspberry.
Odor: @ 100%. Herbal, smoky, green, and mossy Odor: @ 100%. Waxy, slightly sweet, peachlike,
with a hint of leather. cream, lactonelike and creamy.
Taste: @ 10 ppm. Herbal, green, brown, phenolic and Taste: @ 5 ppm. Oily, lactonelike, creamy, coconut-
astringent. like and celerylike.
Taste: @ 20 ppm. Herbal, slightly dried fruitlike, phe- Taste: @ 10 ppm. Oily, lactonelike, creamy and
nolic, green, tealike, astringent and bitter. slightly peachlike.
Possible applications: Tea and herbal tea as well as Possible applications: This interesting material is
tobacco flavors will be enhanced by this mate- very lactone-like and will be useful in flavors that
rial. Other areas where it might be used are dried normally contain them, including butter, peach,
fruit, vanilla and perhaps castoreum replacers. apricot, nectarine, coconut, mango, nuts like
Biolandes: www.biolandes.com macadamia, pistachio and pecan, young
cheeses like cream, American and Colby.
Benzoin siam resinoid MilliporeSigma: www.sigmaaldrich.com/
Supplier: Biolandes flavors-fragrances
FEMA# 2133, CAS# 9000-72-0, Styrax tonkinenesis,
natural
Odor: @ 100%. Sweet, vanillinlike, balsamic, cream
and coumarinlike.
Taste: @ 10 ppm. Sweet, balsamic, brown, vanilla-
like, fruity and berrylike.
Taste: @ 20 ppm. Sweet, brown, balsamic, berrylike,
vanillalike and phenolic.
Possible applications: As well as vanilla flavors, this
resin will perform very nicely in berry flavors,
especially strawberry, raspberry, cherry, cranberry,
“red vines” type, etc. by providing depth in the
profiles. It will also be appreciated in maple, cola,
cherry cola, root beer and dried fruit flavors.
Biolandes: www.biolandes.com

Methyl ketone mix, natural

Supplier: Mane
FEMA# various, CAS# various
Odor: @ 1%. Waxy, earthy, slightly bananalike,
mushroomlike, blue cheeselike and savory.
Taste: @ 2 ppm. Waxy, earthy, creamy, cheesy and
slightly moldy.
Taste: @ 5 ppm. Waxy, blue cheeselike, earthy and
raw mushroomlike.
Possible applications: A few molecules of this mix-
ture will waken up a ripe banana flavor, but its
main benefit will be in cheese flavors, especially
blue, gongonzola, Stilton and aged cheddar.
In much lower dosages, it will add depth and
creaminess to other dairy flavors like milk,
yogurt, kefir, condensed milk and sour cream.
Mane: www.mane.com

77

PF1907_Michalski_fcx.indd 77 6/13/19 3:20 PM

 Organoleptic Characteristics of Flavor Materials

8-Decen-5-olide trans-2, cis-6-Nonadienol natural

Supplier: Sigma
FEMA# 4441, CAS# 32764-98-0
Natural occurrence: Osmanthus.
Synonym: Jasmolactone
Odor: @ 100%. Fatty, floral, cononutlike, creamy,
oily and lactonelike.
Taste: @ 0.5 ppm. Floral, oily, slightly green, creamy
and soft.
Taste: @ 1 ppm. Perfumey, oily, creamy, slightly
green and coconutlike.
Possible applications: This lactone will fit nicely into
floral flavors like rose, hibiscus, jasmine, orris
and violet. It can lend floral notes to fruits like
peach, apricot, raspberry, red apple, raspberry
and blueberry flavors. At lower levels it can be
useful in macadamia, pecan, and coconut and
honey flavors.
MilliporeSigma: www.sigmaaldrich.com/
flavors-fragrances
Source: Natural Advantage
FEMA# 2780, CAS# 28069-72-9
Natural occurrence: Cantaloupe, cucumber, corn-
mint, water melon, violet leaf and flower and
prickly pear.
Odor @ 1%. Green, fresh, oily and cucumberlike.
Taste: @ 0.05 ppm. Green, fresh and cucumberlike.
Taste: @ 0.1 ppm. Oily, green, fresh, melon rindlike
and cucumberlike.
Possible applications: A little of this powerful alcohol
will go a long way in adding fresh character to
cucumber and melon flavors, especially water-
melon, honeydew, cantaloupe and the like. It
will also be welcome, albeit at miniscule levels,
in kiwi, green pepper, dragon fruit, lettuce and
green olive.
Natural Advantage: www.natadv.com

Ethyl acetoacetate ethylene glycol ketal

Source: MilliporeSigma
FEMA# 4477, CAS# 6413-10-1
Not yet found in nature.
Synonym: Apple ketal
Odor: @ 100%. Sweet, ethereal, fruity, fer-
mented, green and sharp.
Taste: @ 20 ppm. Light, fruity, green,
fresh, unripe and apple/pearlike.
Taste: @ 30 ppm. Fruity, green,
unripe, fresh, fruity and
apple/pearlike.
Possible applications:
Although this material’s
synonym specifies
apple, it will also
add freshness and impact
to pear, strawberry, kiwi,
dragon fruit, pineapple and
banana. Its fermented notes
can also be useful in rum,
wines and ciders.
MilliporeSigma: www.sigmaaldrich.com/
flavors-fragrances

78 Flavor Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com

PF1907_Michalski_fcx.indd 78 6/13/19 3:20 PM

 Always
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 Worldwide Sources

INDIA UNITED KINGDOM

Ad Index
Advertiser Web site Page
Advanced Biotech www.adv-bio.com 47
Aurochemicals www.aurochemicals.com 21
Axxence Aromatic GmbH www.axxence.com 15
Berjé, Inc. www.berjeinc.com C3
Firmenich, Inc. www.firmenich.com 39
Flavorcon www.flavorcon.com 29
Fleurchem, Inc. www.fleurchem.com 61
Hangzhou Grascent Co., Ltd. www.grascent.com 19
Indukern www.indukern-ffingredients.com 7
John Wright www.johnwright.com 13
Lluch Essence www.lluche.com 79
Mamta Polycoats www.mamtapolycoats.com 37
Mane www.mane.com 9
MG Essential Ingredients www.mgessentialingredients.com 5
MilliporeSigma sigma-aldrich.com/flavors-fragrances C2
Natural Advantage www.natadv.com 55
OQEMA/Lansdowne Chemicals Plc ww.oqema.com/en 53
Penta Manufacturing Co. www.pentamfg.com C4
Shanghai Buychemi Information Technology Co. www.buychemi.com 57
Symrise www.symrise.com 1
Vigon International, Inc. www.vigon.com 3
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Xiamen Bestally Biotechnology Co., Ltd www.bestally.com.cn 11

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 Digital Edition Exclusive

Frankincense:
Scent of the Spirit Realm
Frankincense is a resin, but further, it is a binding of ritual and history: elastic in its
use and meaning, it has served in both religious and occult practices, rising and
falling with the hubris of mankind’s beliefs.

BY ALEXIS PALMER KARL

Reproduction in English or any other language of all or part of this article is strictly prohibited. © 2019 Allured Business Media.

DE1

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 Frankincense: Scent of the Spirit Realm
A
heavy package arrives
at my door, a present
from my husband, who
knows I dearly love
surprises. I tear into it
as I always do, making
my way through the
layers of onion skin
paper, each releasing a heady, dusty scent into
the air. When finally, I reach the center, I find an
African mask looking up at me; age coloring the
wood black, delicately carved birds swooping
along the contours of the cheek – an elegant beak
diving down the front, bisecting the abstract
features. And while the object itself is arresting,
beautiful and powerful in its own right, the scent
coming of it is equally compelling. I smell dust,
smoke, delicate oils of aromatic wood, traces of
herbs and the unmistakable heavy lingering resin.
It smells of frankincense and more…unknown saps
rendered into pastes and glazes: an aroma that
seems to reach out through time, telling the tale of
sacred rituals, and magic throughout the eras.
Turning this mask to peer at its underside, I see
rough-hewn carving marks that speak of the artist’s
unique touch. Here the scent is lighter, as resins do
not coat the surface as they do the front. Here is
the scent of wood, and something altogether more
human—a faint trace of the body—perhaps the echo
of the person who once wore the mask, perhaps the
artist himself.
I am reminded of a Minkisi power object in the
Metropolitan Museum. This figure of the African
Kongo tribe dates from the early 20th century, and is
literally filled with sacred resins and magical matter.
Often anthropomorphic or zoomorphic, the hand
carved Minkisi figures traditionally have a hollowed
head or stomach, acting as the “spiritual focal point.”
Spiritually charged medicinal materials are placed
inside these hollows, and sealed with resins, frank-
incense among them. The medicinal core can vary,
though often it is associated with the dead, and thus
ingredients such as grave dirt, bone and clay will be
used. Each Minkisi is adorned with varying materi-
als: nails, hair, chicken blood, resin, shells, feathers,
clothing and horn, depending on the owner’s needs.
The object is repeatedly used, its form added onto
with more materials sealed with resin, rendering its
spiritual powers deeply personal.a
Turning my attention back to this remarkable gift
in my hands, I regard the mask, lift it, and release
another cloud of scent. This time, dried flowers,
a https://www.metmuseum.org/exhibitions/listings/2015/kongo/blog/posts/materials-
that-make-mangaaka
DE2 Ingredients Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_DE_Karl_1st.indd 2
rust and once again resin: cloying, deep and warm
and notes of smoke and unmistakable frankincense
waft to my nose. I ride the fragrant wave away
from Africa towards Europe, where I am heralded
into a memory of Santa Maria Cathedral in Rome.
Its towering marble pillars support the Byzantine
tiled domed ceiling, ironically, I think, as they were
pilfered from the ruins of Ancient Roman temples,
Varieties of frankincense are
found in Africa, India and the
Middle East (where it was
carried from Yemen along
the incense trade road).
where incense was burned to call forth the deities.
In Santa Maria, ornate braziers swing to and fro,
releasing dragon puffs of incense along these ancient
columns, the faces of Isis and Osiris still visible in
the marble surfaces to the observant visitor. I’ve
asked many times what secret ingredients are within
this incense, and always have been shooed away. Yet
on a recent visit, I found a kindly historian, who in a
whispered voice told of the blend of myrrh, benzoin,
rosemary, and the ubiquitous frankincense, acting
as a fragrant intermediary between parishioners
and the divine. It was this unnamed historian who
exclaimed excitedly, while gesturing to the smoke
creating a delicate haze within the large cathedral,
“Imagine, this incense or something like it, was
burned in the temples…and before that, in the
tombs of Egypt…we just borrowed it back.” Maybe, I
think now, it is an echo of paganism, and one which
helped lead early Catholics to a place of worship
with a familiar practice; the use of aromatic smoke
to call forth the divine.
This is the extraordinary nature of this resin
– marking time with its aroma. It is culturally
immortal, and religiously significant. But the use
of frankincense within ritual goes much further
back, and to understand it and its hold on a number
of cultures, we must look to an ancient Egyptian
6/18/19 10:32 AM
 Hatshepsut ordered expeditions to the Land of Punt, known today as Somalia, and Eastern Ethiopia, and exported an African species of frankincense trees ( Boswellia papyrifera),
to be cultivated in her gardens of Amen-Ra.
ruler, ritual burial practices and an expedition that
changed the world.
The Road to Frankincense
“I have led them on water and on land to explore
the waters if inaccessible channels, and I have reached
the incense terraces” - Queen Hatshepsut 1558-1085 BC
Varieties of frankincense are found in Africa,
India and the Middle East (where it was carried from
Yemen along the incense trade road). It is harvested
by making a deep incision in the bark of the tree, and
five-inch pieces of bark are peeled away to allow the
milky sap to be released. The sap must dry for three
weeks before setting, and harvested as frankincense
tears, the largest of these orbs full of essential oil.
In the interest of this article, I will follow frankin-
cense’s African path, and its allure for the ancient
PF1907_DE_Karl_1st.indd 3
Egyptian queen, Hatshepsut of New Kingdom who
ruled from 1558-1085 BC. Hatshepsut was posted
as Queen Regent in place of her nephew, Thutmose
III, who was too young to rule. As Thutmose III
was coming of age, The Queen walked amongst her
people dressed in the ceremonial beard and staff
of a Pharaoh, and claimed the gods had named her
Queen Pharaoh. Two decades of a fruitful, peaceful
rule under Queen Hatshepsut changed the face of
fragrance forever. Hatshepsut ordered expeditions
to the Land of Punt, known today as Somalia, and
Eastern Ethiopia, and exported an African species
of frankincense trees (Boswellia papyrifera), to be
cultivated in her gardens of Amen-Ra.1 This species
is found today in Ethiopia, Eritrea and Sudan.
The expedition is beautifully carved in the walls
of her temple in Deir al-Bahari. Frankincense and
myrrh became an integral part of the Opening
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6/18/19 10:32 AM
 Frankincense: Scent of the Spirit Realm
of the Mouth burial ceremony, where the resins
were burned to fumigate the body of the deceased
before being anointed with sacred aromatic oils and
wax-based unguents, containing both resins – thus
securing themselves within the ritualistic spiritual
realm of aromatics within this culture. Frankincense,
known as “perfume of the Gods,” was burned in
large censors during a number of Egyptian cer-
emonies accompanied by incantations to allow the
gods to inhale the aroma. The aromatic smoke was
believed to create a protective pathway for the dead
to ascend to the spirit realm.
Frankincense and Ritual
It is this particular concept that has caught my
attention, and sent me running to the pages of
archeological histories and spell books recount-
ing the findings of delicate perfume vessels in the
tomb of Tutankhamen (1350 BC) containing frank-
incense-laden perfumes, the aroma still lingering.
In addition, I find myself surrounded by countless
European, 14-17th century magical grimoires, their
pages etched with esoteric symbology, the invoking
of spirits, and more than a few spells calling for the
use of frankincense in both oil and incense form.
Frankincense in our modern world has achieved the
balance Hatshepsut demanded of the material. It is
perfume and incense, ritual and personal. It links
these two concepts, and when worn on the body,
simply vibrates with history.
Perhaps it is this which so fascinates: that this
one particular resin has ridden the centuries within
human ritual. Frankincense has been passed as
smoke along the swaddled bodies of Egyptian
mummies to render them more pleasing to the gods,
and to clear the path to the underworld. In its oil
form, it has graced refined perfumes of the ancient
world. It was employed in ancient Jewish temples
as the sole holy incense, and was said to burn in
the Temple of Babel, as well as ancient Greek and
Roman temples. Deemed too pagan, frankincense
fell out of favor with the advent of Christianity,
only to be pulled back into ritual use with the rise
of Catholicism. At the same time, frankincense had
been employed in occult practices in Europe as seen
in grimoires, and later in Hoodoo practices of the
19th century Southern slaves; who brought their
rituals with them from Africa, while binding their
magical work with the invoking of Christian saints.
Frankincense is a resin, but further, it is a binding
of ritual and history: elastic in its use and meaning,
it has served in both religious and occult practices,
rising and falling with the hubris of mankind’s beliefs.
“Averting their faces with horror from license and
luxury, the pioneers of early Christianity condemned
DE4 Ingredients Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_DE_Karl_1st.indd 4
incenses and perfumes as pagan survival that had to
be rejected if the soul was to be saved.”2
“The perfumes of frankincense and myrrh that are
stilled burned in the great cathedrals of Latin Europe
make a heavenly scent, especially when they are
inhaled along with the odor of beeswax candles and
alter flowers. Incense was such heady stuff, that the
early Christians hemmed and hawed before incorporat-
ing such pagan trappings into their rites, and it was
one of the first things banned by the reformers of the
sixteenth century.”
– Edwin T Morris, “Fragrance- The story of Perfume
from Cleopatra to Chanel”
The spirit-summoning
practices linked with
frankincense use found
its way to America in the
mid-1800's, carring in the
belief and ritual of African
slaves who were tethered
to American soil, and thus
in their enslavement,
American religious beliefs.
“In one area of doctrine the Church seems to have
reached out and embraced a principal of perfumery
somewhat reminiscent of the pagan world. This was
in the theory of the odor of sanctity which could
well have had its origins in the ancient belief that
if perfumes were indeed aspects of divinity, then
saintly individuals would at death give forth a sweet
and pleasing odor.”3
Frankincense and Magic
The Grimoire Verum: A Handbook of Black
Magic, is an 18th century book of occult spells
relayed from accounts of a 15th century work. With
references to the much earlier Clavicula Salomonis
(Key of Solomon), the text concentrates on the
6/18/19 10:32 AM
 Frankincense tree, Boswellia sacra
summoning of spirits and demons through a
series of complicated, and often aromatic rituals.
Inevitably, ritual within these texts relies on fragrant
elements to aid in the magical work, and this is
where one sees a call for frankincense repeatedly. In
one invocation, the caster is instructed to create an
asperser, or bundle of “mint, marjoram and rose-
mary tied with thread spun from a virgin girl under a
waxing moon,” to be used as a tool for sprinkling of
charged water along with the following scents: “You
must use lignum aloe, frankincense, and mace…
over the scents recite the following oration, ‘God of
Abraham, God of Isaac, God of Jacob, God of our
fathers, blessed this paper and increase the power of
these odors, so that they receive in them the virtue to
attract the spirits that I will invoke’….Deign oh lord,
to bless and to sanctify these scents, so that they are
a health-bringing remedy for us, bringing salvation
to our bodies and spirits…”4
PF1907_DE_Karl_1st.indd 5
In yet another spirit conjuration within the
Grimoire Vernun, the rite calls once again for
frankincense to prepare the space for magical work,
“Before entering inside (your circle) it is necessary
to fumigate it with musk, amber, lingum aloes and
frankincense. And for the incense needed for the
invocations, that will only be frankincense.”5
Though thousands of years have passed since
the tombs of Egypt were billowing with aromatic
smoke, and centuries since the initial publication
of the arcane Grimoire Verum, the spirit-sum-
moning practices linked with use of frankincense
found its way to America in the mid-1800’s, carried
in the belief and ritual of African slaves who were
tethered to American soil; and thus in their enslave-
ment, American religious beliefs. Hoodoo folk
magic is of African origins, with blending of Native
American herbal lore and European folk magic;
with texts like the Grimoire Verrum introduced to
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6/18/19 10:32 AM
 Frankincense: Scent of the Spirit Realm
the African community, and assimilated into their
folk magic practices.6
In Catherine Yronwode’s Hoodoo Herb and Root
Magic: A Materia Magica of African- American
Conjure, there is a particular ritual which calls for
frankincense in the summoning of a spirit. The spell
details the setting out a glass of water in which black
salt has been dissolved—using it as a black mirror—
or scrying mirror. One is instructed to anoint a black
candle “black arts oil,” light it, and burn a “large
amount of frankincense … on charcoal.” Once the
spirit is called from within the water glass, it will
remain there to be questioned.7
In modern magical ritual,
frankincense is linked to the
air element, and often used
to cleanse the ritual space.
In modern magical ritual, frankincense is linked
to the air element, and often used to cleanse the
ritual space – its aromatic smoke calling forth the
otherworldy realms, aiding in inducing visions,
and offering spiritual protection. Its oil anoints
ritual objects, or is added to others oils and organic
materials to fortify spell work. We see the resonance
of historical ritual within the modern, as well as the
resin’s revival in the use in beauty and fragrance in
our modern world.
A key ingredient in perfumer Maria McElroy’s
beauty elixir, Camellia Face Oil, is frankincense.
Frankincense, she reveals, encourages new skin cell
growth, healing scars and balancing complexion.
In her fragrance of the same name, frankincense
is paired with all natural oils of camellia, rose,
Moroccan jasmine, gardenia and neroli, with the
frankincense lifting as a whisper of incense within
the mélange of delicate flowers.
Asc Alchemical’s truly spellbinding fragrance,
Sephirot, embraces historical ritual practices by
blending frankincense with woods, verbena and
DE6 Ingredients Vol. 44 • July 2019 | Perfumer & Flavorist www.PerfumerFlavorist.com
PF1907_DE_Karl_1st.indd 6
spices which rise with intoxicating delicacy, winding
about the bright green notes. The fragrance promises
the repelling of negative energy and fostering protec-
tion, and is sold exclusively at Catland Books in
Bushwick Brooklyn, amidst ritual tools, spellbooks
and beautifully designed tarot cards
Yet another perfume in which frankincense
is integral to the blend, is perfumer Mik Coyle’s
“Vesper” of his Mikmoi fragrance line. This scent’s
incense note wafts with heady abandon, lingering
with milky fig and green-tinted rose, a soft suede
note along with bittersweet lillet.
The extraordinary story of frankincense continues
today. I have walked through mists of its aromatic
smoke on street corners in Manhattan, where the
frankincense tears, once regarded as precious as
gold, lie in unceremonious heaps upon a card
table. A veil of frankincense smoke still lingers in
the cathedrals of Europe, as well as esoteric magic
shops in New York City, clinging to the hair and
clothes long after one’s visit. Its oils are in countless
beauty products, promising youthful skin, and clarity
of complexion. Its compelling oil is in numerous
contemporary perfumes; scenting necks and wrists
with its mysterious aroma, while whispering tales
of ancient ritual in its sillage. In our own way, we
celebrate the power of this resin as the ancients once
did. It is woven into the fabric of our culture, its long
winding history vibrating in its everyday use as we
embrace its sacred, cultural history and carry it into
a modern era.
References:
1. Edwin T Morris, “Fragrance- The story of Perfume from
Cleopatra to Chanel” (1984) Charles Scribner’s Sons P.
2. Maple, E. The Magic of Perfume (1973)The Aquarian P.
3. Maple, E. The Magic of Perfume (1973)The Aquarian P.
4. Peterson, J. H /Grimorium Verum : A Handbook of Black
Magic ( 2007/ 1700s/1500’s) Createspace P.
5. Peterson, J. H /Grimorium Verum : A Handbook of Black
Magic ( 2007/ 1700s/1500’s) Createspace P
6. Yronwode, C. “ Hoodoo Herb and Root Magic : A Materia
Magica of African- American Conjure: Traditional Formulary
Giving the Spiritul Uses of Natural herbs, Roots, Minerals, and
Zoological Curious” (2002) The Lucky Mojo Curio Co.
7. Yronwode, C. “ Hoodoo Herb and Root Magic : A Materia
Magica of African- American Conjure: Traditional Formulary
Giving the Spiritul Uses of Natural herbs, Roots, Minerals, and
Zoological Curious” (2002) The Lucky Mojo Curio Co.
6/18/19 10:32 AM
PF Full Page.indd 1 6/6/19 8:51 AM
 Developing Better Products
through Natural Chemistry
Penta Manufacturing Company is Family Owned and Operated for Over 40 Years.

Here is a partial listing of our Family of Gums and Resins utilized in many formulations.
For detailed paperwork on all of our items consult our web site at www.pentamfg.com

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■■BENZOIN SIAM RESIN ■■MYRRH RESINOID
■■BENZOIN SUMATRA RESIN ■■OAKMOSS RESIN
■■CASTOREUM ABSOLUTE RESIN ■■OLIBANUM GUM
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■■GUAR GUM ■■XANTHAN GUM
■■KARAYA GUM
■■LABDANUM RESIN

For a complete list of all our natural, natural identical and synthetic ingredients
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Penta Manufacturing Company

A Division of Penta International Corporation

50 Okner Parkway, Livingston, New Jersey 07039-1604 Phone: (973) 740-2300 Fax: (973) 740-1839
E-Mail: sales@pentamfg.com Web: www.pentamfg.com

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