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
Aligning our business with our Purpose and accelerating our customers’ transition to sustainable ingredients.
- 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
- 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
- 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
The lifeblood of our business, we seek to increase the proportion of NPP (New and Protected Products) that we sell.
- 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
- 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%)
- 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%)
Consistent top and bottom-line growth, with profit growing ahead of sales, ahead of volume.
- Agreed divestment of the majority of our industrials business
- Increasing our sales, innovation and select manufacturing capabilities in North Asia
- 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
- 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
Case study: Investing in natural fragrances
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.
Launch of first report on biotechnology opportunities in the personal care market
27 September 2022: The “Biotechnology: personal care market report” is the first in a series from Croda which aim to help other forward-thinking companies leverage the opportunities offered by...Read more
Developing and delivering innovative, sustainable ingredients is at the heart of our business.Find out more
Sustainability means doing business the right way, adapting and challenging ourselves to meet business needs, today and in the future.Find out more
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