Our strategy
Sustainability + Innovation = Growth
Over the last 18 months we have accelerated key elements of our strategy to progress our transition to a dedicated Consumer Care and Life Sciences company. Across these markets, sustainability together with innovation will drive our future growth. We are focused on implementation, working in partnership with our customers and suppliers, to deliver on our Purpose of using Smart science to improve lives™.
A strategy for a changing world
Sustainability
Aligning our business with our Purpose and accelerating our customers’ transition to sustainable ingredients.
Croda
- 1.5°C Science Based Target verified
- Implementing decarbonisation roadmaps for our sites; quantified capex required
- Completed periodic reassessment of our material issues and climate related risks and opportunities
- Croda Foundation established to permanently improve more lives
Consumer Care
- Established Consumer Care as a new sustainability solutions provider in premium markets
- Acquired Alban Muller to accelerate our transition to more natural raw materials
- Selling our ECO range of bio-based products to replace petrochemical based surfactants in Home and Personal Care products
Life Sciences
- Meeting the sustainability challenges of Crop Care customers with low carbon, bio-based and biodegradable delivery systems
- More than doubled number of World Health Organisation (WHO) vaccine projects we are working on, to support vaccines for 15 of the WHO’s 24 priority diseases
Pursuing our Commitment
Innovation
The lifeblood of our business, we seek to increase the proportion of NPP (New and Protected Products) that we sell.
Croda
- Enhancing our own innovation centres and network of open innovation partners
- Established new centre for biotechnology process design and optimisation
- Investing in digital across all areas of our business model including AI and data mining for knowledge management
Consumer Care
- Embracing biotechnology, as well as chemistry, to develop more sustainable ingredients
- Strengthened our Plant Cell Culture capability in Beauty Actives
- Becoming more knowledge-intensive; 44% NPP as % total sales (2020: 38%)
Life Sciences
- Developing next generation sustainable crop care delivery systems based on biologics
- Working on over 150 COVID-19 applications
- Secured 130 new customers and 250 new programmes, two thirds for non-COVID applications
- Becoming more knowledge-intensive; 48% NPP as % total sales (2020: 27%)
Identifying unmet needs
Growth
Consistent top and bottom-line growth, with profit growing ahead of sales, ahead of volume.
Croda
- Agreed divestment of the majority of our industrials business
- Increasing our sales, innovation and select manufacturing capabilities in North Asia
Consumer Care
- Built our presence in the fragrances and flavours market following the Iberchem acquisition in 2020; synergy and integration plans on track
- Acquired Parfex, leader in fine and natural fragrances
- Expanded our French-based botanical ingredients in China
Life Sciences
- Realised significant benefits from Avanti acquisition
- Building a drug delivery business of global scale to unlock future opportunities in mRNA and gene therapy applications
- Doubled capacity in three key patient health care technologies
Delivering for our shareholders
Strategic priorities by sector
Case study: Investing in natural fragrances
In June 2021 we built on the foundation that Iberchem has provided in the fragrances and flavours market with the acquisition of Parfex, a fine fragrance business based in Grasse in the South of France. Grasse has been the centre of the world’s perfume industry since the 18th century. It is blessed with abundant natural fragrance sources, producing two thirds of the natural raw materials used by the French perfume industry. Parfex employs a dedicated team of perfumers working on natural fragrances and has recently launched a new renewable range. We are creating a new R&D facility that will become the creation centre for natural, sustainable, biodegradable and fine fragrances within Croda.
The new R&D centre will provide more than 2,000 square metres of laboratory and office space. Sustainability and the customer experience were at the heart of the design of the new centre. The centre incorporates a ‘green’ roof with fragrance vegetation and the space has been designed to enable collaboration with our customers, perfumers and R&D specialists. This investment in natural fragrances for premium personal care and fine perfumery is a potential differentiator in the fragrance markets.
The new R&D centre will provide more than 2,000 square metres of laboratory and office space. Sustainability and the customer experience were at the heart of the design of the new centre. The centre incorporates a ‘green’ roof with fragrance vegetation and the space has been designed to enable collaboration with our customers, perfumers and R&D specialists. This investment in natural fragrances for premium personal care and fine perfumery is a potential differentiator in the fragrance markets.
Our markets
Developing and delivering innovative, sustainable ingredients is at the heart of our business.
Find out moreOur approach
Sustainability means doing business the right way, adapting and challenging ourselves to meet business needs, today and in the future.
Find out moreSmart science
Innovation drives us to achieve our Purpose, from the ingredients we create and how we operate, to the natural, renewable raw materials that we use.
Find out more