Our business model
What we do
We use our smart science to create high performance ingredients and technologies that improve people’s lives. We are a B2B company that sells small, but valuable, quantities of ingredients to customers of all sizes. These ingredients deliver vital functionality at low inclusion levels, giving us a strong competitive advantage.
What our business needs
Our competitive advantages
We grow by creating new market and technology niches rather than by winning market share in large established markets. We target fast-growth niches that value our leadership in innovation and sustainability through higher margins. This allows us to compete on value rather than on price, supporting our goal of delivering profit growth, ahead of sales growth, ahead of volume growth.
There is no one big competitor that spans all our markets; instead, there are different competitors in each of our niches. We have a broad base of customers, large and small. This high number of customer/product combinations reduces our exposure to any specific customer, market or geography.
We sell in test tube and vial quantities, rather than tanker loads, and are increasingly moving to selling in dollars per gram rather than dollars per kilo. This means we operate flexible, capital-light manufacturing sites, rather than large continuous operation plants, and do not have to invest significant capital to create value.