Givaudan’s Next Era of Growth, Innovation and Fragrance Excellence

Read the full  2026 Fragrance Leaders & Newsmakers issue here.

*Commentary courtesy of Givaudan

• 2025 sales: 7,472 million euros (group sales); 3,830 million euros (Fragrance & Beauty division sales)
• Headquarters: Geneva, Switzerland

Givaudan delivered strong results in 2025, with sales of CHF 7.5 billion, up 5.1% on a like-for-like basis. Growth was broad-based across all markets, segments, and customer groups, with high-growth markets increasing by 8.0% and mature markets by 2.4% LFL. CEO Christian Stammkoetter said the performance, achieved despite tough comparables and a volatile environment, reflects the company’s unique ability to support customer growth and the dedication of its teams, and noted that Givaudan exceeded all its financial ambitions for the 2021–2025 strategic cycle period.

Commentary by Christian Stammkoetter, CEO, Givaudan

"As I start my first year as CEO, my priority is to build the future in line with Givaudan’s new 2030 strategy cycle and our shared purpose—creating for happier, healthier lives with love for nature—together with our teams," says Christian Stammkoetter, CEO, Givaudan.Givaudan

I can’t speak about legacy without acknowledging how grateful we all are to Gilles Andrier for his contribution to Givaudan over the last 30 years. His visionary leadership helped the Company consistently deliver industry-leading performance and create significant shareholder value. I am excited to build on his work to drive growth and innovation with our talented teams, customers, and partners worldwide. Givaudan’s creativity, customer-centricity, unique culture, and 250-year heritage in crafting extraordinary scents and tastes provide an excellent basis for the future.

As I start my first year as CEO, my priority is to build the future in line with Givaudan’s new 2030 strategy cycle and our shared purpose—creating for happier, healthier lives with love for nature—together with our teams.

The months ahead will be about listening and learning. I am new to Givaudan, and new to this industry and so I will ask questions—not to challenge for the sake of it, but to bring an outside perspective and help us see opportunities and risks in new ways.

With nearly 30 years in the consumer goods industry, I aim to apply deep customer understanding to help optimize our business today, while also bringing my passion for innovation and technology to future-proof it for tomorrow. Always together with our people, customers and partners.

Three words you will hear me say often: Optimize. Future-proof. Together.

Identifying key themes in our operating environment helps us shape our business and develop innovative solutions, as global challenges also present opportunities. These include geopolitical and economic uncertainty and evolving regulatory and transparency requirements, as well as shifting consumer trends, such as more conscious purchasing and changing demographics. All of these create new avenues for growth and value creation. We aim to drive sustainable growth with our customers—partnering with the existing ones as well as extending our customer reach, deepening our geographical presence and expanding our portfolio. And here innovating for differentiating solutions will play a very important role. I have confidence in our proven business model, and I am optimistic about the opportunities ahead.

Fact Sheet

At the end of 2025, Givaudan had:

• More than 17,500 employees
• 167 sites worldwide
• 65 creation and research centers
• A procurement spend over CHF 4 billion
• Over 2,800 raw material suppliers in more than 100 countries
• Over 15,600 global partners supplying indirect materials and services

Commentary courtesy of Givaudan, featuring Maurizio Volpi, President, Fragrance & Beauty, Givaudan

“The uniqueness of Givaudan’s business model, especially in Fine Fragrances, is that it is highly diversified across all the different fine fragrance categories as well as the fine fragrance channels,” said Maurizio Volpi, President, Fragrance & Beauty, Givaudan.Givaudan

Fragrance & Beauty sales reached CHF 3,830 million in 2025, representing 7.9% growth on a like-for-like basis. Fine Fragrance continued its strong momentum, rising 18.3% following 18.4% growth in 2024, while Consumer Products also delivered solid performance with 6.8% growth, building on a particularly strong 13.5% increase the previous year. Overall sales of Fragrance Ingredients and Active Beauty declined slightly, by -1.4%, as double-digit growth in Active Beauty helped offset softer demand in Fragrance Ingredients.

Givaudan was extremely happy about its Fine Fragrance results, said Maurizio Volpi, President of the business activity, noting that the company has doubled the business around the world in the last five years in absolute value. While competitors have noted slowing in Fine Fragrances, the natural hedges provided by Givaudan’s diversified fragrance portfolio offers protection, he said.

“The uniqueness of Givaudan’s business model, especially in Fine Fragrances, is that it is highly diversified across all the different fine fragrance categories as well as the fine fragrance channels,” he said.

While prestige brands count for 30-35% of sales, Givaudan also focuses on specialty retail as well as a portfolio of local and regional brands that have emerged in the last three to five years in many parts of the world, especially in South Asia, the Middle East, and Africa (SAMEA). This category is fascinating right now, Volpi said, growing at 30% to 35% a year.

“Our exposure to this business is fueling the growth of Fine Fragrances, and so we have some immunity to the fluctuations that other companies might be seeing in the prestige brands,“ Volpi said.

Consumer Products, which accounts for 61% of Fragrance & Beauty sales, saw sustained solid growth across all categories in 2025, building on a very strong prior year and driven by strong performance in high-growth markets and pricing actions. Navigating higher input costs while focusing on sustainable, high-value products, strong customer engagement, innovation, and effective pricing continues to drive success, enabling Givaudan to meet evolving consumer needs and support customer growth.

In 2025, Givaudan introduced innovative products to meet diverse customer needs. Among them is Givaudan Active Beauty’s Evernityl, a marine-derived ingredient from the macroalgae Laminaria hyperborea. Produced through an upcycling process, it transforms fresh algae into a high-precision active that combats skin aging and supports youthful skin. Universal and inclusive, Evernityl targets existing signs of aging while helping prevent future damage, building on the company’s research into skin microbiomes and harmful metabolites.

In 2025, Givaudan introduced innovative products to meet diverse customer needs. Among them is Givaudan Active Beauty’s Evernityl, a marine-derived ingredient from the macroalgae Laminaria hyperborea. Givaudan

“The concept of beauty is evolving,” said Volpi. “Today, people celebrate every stage of life, and approach ageing more proactively, with a growing focus on prevention. Skin health is now a cornerstone of beauty, and consumers are increasingly seeking brands that support their pursuit of longevity.”

Givaudan also advanced customer-centered digital solutions with Guardians of Memories, a new experience on Roblox, the most important gaming platform in the world with 90 million daily users.

Designed for Gen Z and Alpha, Guardians of Memories demystifies fragrance by letting players experiment with ingredients and composition in a safe, interactive environment. The game explores the link between scent, memory, and emotion, fostering a community of future fragrance enthusiasts. Developed in collaboration with Givaudan’s Fine Fragrance and Digital teams, Guardians of Memories engages young consumers in their preferred digital environment and builds on their growing interest in perfumes.

“As part of our global digital strategy, we are developing innovative tools that strengthen Givaudan’s position as the creative partner of choice,” said Volpi. “With Guardians of Memories, we are engaging a new generation through a playful and educational experience that highlights the artistry and craftsmanship at the heart of perfumery, while helping us better understand evolving consumer expectations.”

Givaudan Fragrance & Beauty also introduced in 2025 ChériScentz, a revolutionary fragrance design tool that allows perfumers to evoke sensuality among consumers and evoke feelings of attraction and intimacy in their creations. Adding to the company’s leadership and expertise, this groundbreaking tool complements the already extensive range of neuroscience technology innovations, including MoodScentz+, VivaScentz and DreamScentz.

Based on neuroscience and consumer insights, ChériScentz assesses fragrance sensuality through visual stimuli, enabling consumers to explore sensory pleasure in everyday life. Aligned with Givaudan’s focus on enhancing emotional connection through perfume, ChériScentz shows how scents evoke attraction, intimacy, and shared experiences. The patent-pending tool, developed with the Health and Wellbeing Centre of Excellence, also helps Givaudan meet growing demand for authentic, inclusive, and emotionally resonant fragrances that extend beyond fine fragrance into bath, body, laundry, and home applications.

“This innovative tool draws on advanced research from global consumer studies and uses our specialized methodology for assessing fragrance sensuality,” said Volpi. “The result is a robust approach that delivers highly discriminating, high-quality insights with strong consumer relevance across markets.”

Volpi is positive about the outlook for Fragrance & Beauty overall, despite the volatile macro environment. Innovations that anticipate customer needs and consumer trends, and a perfumer’s palette featuring the best, safest and most sustainable molecule innovation will continue to drive Givaudan’s solid growth, he said.

“I remain confident in our portfolio and in the breadth of capabilities we bring to supporting our customers’ growth,” he said. “The artistry of our perfumers brings a wide range of fragrance stories to brands around the world. At the same time, our beauty innovations continue to push the boundaries of the industry, inspiring and empowering customers with tailored products designed to enhance well-being.”