International Flavors & Fragrances (IFF) FY2025 results: revenue $10.9 billion, down 5.2% on the year

IFF creates and manufactures products used in food, beverage, health and biosciences and scent, along with adjacent products including natural health ingredients. Its customers make dairy, meat, beverages, snacks, savoury and sweet foods, baked goods, personal care products, soaps and detergents, cleaning products, perfumes, dietary supplements, food protection, infant, elderly and animal nutrition, functional food, bio-fuel and oral care products. The United States was approximately 28% of sales in 2025, no other country was more than 10%, and no customer was 10% or more. In 2025 the business ran five segments, Taste, Food Ingredients, Health and Biosciences, Scent, and Pharma Solutions until that business was sold in May 2025; the former Nourish segment was split into Taste and Food Ingredients on 1 January 2025.

Taste and Food Ingredients

Taste develops and produces flavour compounds and natural taste solutions used in savoury products such as soups, sauces, meat, fish, poultry and snacks, in beverages from juice drinks to spirits, in sweets including bakery, candy, cereal and chewing gum, and in dairy products, along with value-added spices and seasoning for meat, food service, convenience, alternative protein and culinary uses. Food Ingredients holds natural, artificial and plant-based specialty ingredients that give food and beverages their functional properties, plus specialty soy and pea protein with value-added formulations, emulsifiers and sweeteners. It also covers natural antioxidants and anti-microbials used to preserve beverages, cosmetics, healthcare products, pet food and feed additives and extend their shelf life, savoury solutions such as spices, marinades and mixtures, and inclusion products combining flavourings with fruit, vegetables and other natural ingredients.

Health and Biosciences

The segment produces enzymes, food cultures, probiotics and specialty ingredients for food and non-food use, and is made up of five businesses. Health supplies ingredients for dietary supplements, functional food and beverage, specialised nutrition and pharma. Food Biosciences supplies products for fresh dairy, cheese, bakery and brewing that extend shelf life and affect stability, taste and texture, with enzyme solutions that allow low sugar, high fibre and lactose-free dairy. Home and Personal Care makes enzymes for laundry and dishwashing detergents, cleaning and textiles, plus patented enzymatic polymers that are renewable and biodegradable alternatives to functional ingredients in home cleaning and beauty products. Animal Nutrition makes feed enzymes and animal health products for livestock farming, and Grain Processing makes yeasts and enzymes for biofuel production and carbohydrate processing.

Scent

The segment creates fragrance compounds and fragrance ingredients used in perfumes and in household and personal care products. Fragrance Compounds are proprietary combinations of several ingredients, organised into fine fragrances, covering perfumes and colognes from luxury to mass market, and consumer fragrances, covering fabric care such as laundry detergents and softeners, home care such as household cleaners, dishwashing detergents and air fresheners, and body care such as personal wash, hair care and toiletries. Fragrance Ingredients are natural and synthetic, active and functional ingredients used internally and also sold to third parties, including competitors, with spare manufacturing capacity used to make ingredients for outside sale while securing supply for the company's own perfumers.

What was sold

The former Pharma Solutions segment produced cellulosics and seaweed-based pharmaceutical excipients used in prescription and over-the-counter medicines and dietary supplements. That disposal group, including certain adjacent businesses, was sold on 1 May 2025, and the nitrocellulose business inside the segment was sold on 9 May 2025.

Materials, plants and people

At 31 December 2025 the company sourced approximately 20,000 different raw materials from a broad network of domestic and international suppliers and distributors. Natural ingredients come from flowers, fruits and other botanicals and from plant, animal and marine products and commodity crops such as wheat, corn and soy, bought direct from farms or in processed form, and combined with chemicals they also serve as raw materials for synthetic ingredients. Supply is managed through fixed or formula-based contracts, hedging materials linked to liquid commodities, strategic supplier relationships, indexed pricing, reduced formulation complexity, make-versus-buy decisions and local sourcing. There were approximately 170 manufacturing facilities, creative centres and application laboratories in approximately 30 countries, with major manufacturing sites in the United States, the Netherlands, Spain, Germany, Indonesia, Turkey, Brazil, Mexico, Slovenia, China, India, Ireland, Norway, Finland, Denmark, Belgium and Singapore. The company employed approximately 21,500 people worldwide at the same date, approximately 5,500 of them in the United States.

From International Flavors & Fragrances' annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 27 February 2026: read the full 10-K.