As consumer wishes evolve rapidly, collaboration and co-creation with customers, other partners and suppliers allows faster breakthrough innovations in both Taste & Wellbeing and Fragrance & Beauty. TASTE & WELLBEING A holistic approach With consumer expectations increasing and demands changing at a remarkable pace, pro-activity and partnerships are essential. We take a holistic approach to co-creation, and our collaboration is always multidirectional. It starts with a deep understanding of consumers, revealing not only what they enjoy, but why they enjoy it. This foundation leads us down the development path together, from end-to-end, brainstorming to production, supported by ingenuity, creativity, speed, efficiency, and the belief that as one, we are stronger. In 2021, we formalised a platform for co-creation with customers to better address their needs and accelerate product development. With this approach, we aim to become the go-to partner for our customers to co-create consumers’ preferred food experiences, supported by our expertise, technologies and ecosystem. Co-creation takes many forms, from working directly with customers on projects through our new platform to the establishment of sites or facilities designed for co-creation, to strategic external partnerships, and front-end collaborations with start-ups. A significant example of a new facility is the Protein Innovation Centre in Singapore opened jointly with Bühler, global leader for food processing solutions. The centre welcomes food processing companies, start-ups and university researchers from across Asia Co-creating with customers and partners Pacific, keen to co-create plant-based food experiences. The centre combines the pilot technology of Bühler’s extrusion and processing equipment with Givaudan’s new culinary facilities and its world-leading expertise in flavour, taste, ingredient and product development. Front-end innovation allows us to combine our market knowledge, science at scale and capabilities for commercialisation with the agility of start-ups, and together accelerate product development. For example, Givaudan, along with Bühler and Migros, the largest retail company in Switzerland, has set up the Cultured Food Innovation Hub at the flagship Zurich Innovation Centre to accelerate development of cellular agriculture products. FRAGRANCE & BEAUTY Co-creating in a digital world In our Fragrance & Beauty business, we work with our customers to develop tailored market strategies to tap into mature market opportunities, and extend our leadership in high growth markets through extensive grassroots work and the sharing of unique insights. Co-creation with Givaudan can take many forms: working directly with customers on projects; the creation of facilities designed for co-creation; external partnerships; and front-end innovation efforts. Co-creation and collaboration with customers and partners to innovate and develop game-changing products and solutions that shape the worlds of taste, nourishment, scent and beauty. Givaudan – 2021 Integrated Annual Report Acting as a force for good Cr eations Co -creating with customers and partners 57 Acting as a force for good