19
already has a good starting point through engagements
with key players in the market for plant-based dairy and
plant-based meat, but we will lift our capabilities further
to respond to the fast-moving market requirements.
underexploited, high-value product applications exist,
and opportunities in shifting product mixes towards
these higher-value products in specific applications as
well as optimizing how to serve the markets will thus be
pursued.
In Foodservice, our business is also characterized
by large variations in the value that we can capture
depending on the applications. As in Bakery and Dairy,
there are pockets of high-value applications and products,
and the focus going forward will thus be to focus
on the higher-value products in the portfolio as well as
to optimize our go-to-market approach.
Key enablers to deliver on ambition
We have developed a strategic roadmap with key focus
areas that will be addressed by a range of initiatives
to lift our performance for the future. The goal is to
further differentiate ourselves from our competitors by
enhancing our Customer Co-Development approach
and sustainability offerings. To succeed, we need to
offer a customer experience that is second to none and
create even more differentiated solutions meeting the
needs of our customers, consumers and the world we
live in.
Our aim is to continue our growth journey by further
utilizing our global strengths and harvesting synergies.
To enable this, we will strengthen our global product
management to fully leverage insights, expertise and
resources as well as aim for global scale effects and
efficiencies with more integrated and holistic end-to-end
supply chain planning and execution.
Natural
Emulsifiers
Personal
Care
Technical
Products &
Feed
Plant-based
Foods
Health & Nutrition
platform
The market shows a clear increase in consumer
demand for healthy and fortified nutrition. As a result,
consumer goods companies are looking to develop
product offerings meeting this demand. This gives AAK
an opportunity to build capabilities related to oils and
fats health claims to enable our customers to claim
health benefits.
The plant-based foods market is a fast-growing
market where oils and fats can be an impactful differentiator
to the quality, taste and texture of the final
product. Our deep and broad knowledge within oils and
fats provides an opportunity for AAK to become the
preferred provider to plant-based foods companies. AAK
For the remaining segments within AAK – Natural
Emulsifiers, Personal Care, and Technical Products &
Feed – the current strategy stays the most promising
option for further value creation.
Natural Emulsifiers (lecithin) is a speciality segment
with a large overlap with AAK product applications.
Our recent acquisition in the UK is a first step into this
market.
Personal Care is a growing business with a strong
value proposition in the beauty industry’s quest to
move to more natural ingredients, where the future
growth rates will be a function of the industry’s ongoing
replacement of mineral oils.
Technical Products & Feed is another healthy
business,
functioning as an outlet for various sidestreams
as well as serving the market with strong
value propositions in, for example, animal feed and
waxes for candles.
Bet for the future
Maintain current strategy