IFF Scent Division Launches Science of Wellness Program

Rhea-AI Summary

On May 20, 2021, IFF (NYSE: IFF) launched its Science of Wellness program in response to consumer demand for holistic wellbeing solutions. This initiative leverages over forty years of fragrance research and advanced AI technology to create scents that offer emotional and cognitive benefits. The wellness market is expected to grow annually by 5 to 10% by 2025. An IFF study indicated that 87% of consumers prefer fragrances with wellness benefits. The program aims to innovate in fragrance design, utilizing extensive data to inform product development.

Positive

• Launch of the Science of Wellness program to target consumer wellbeing.
• Program based on over 40 years of fragrance research and AI technology.
• Market for wellness products projected to grow by 5 to 10% annually by 2025.
• 87% of consumers prefer fragrances that provide emotional and physical benefits.

Negative

• None.

NEUILLY-SUR-SEINE, France, May 20, 2021 /PRNewswire/ -- On World Meditation Day, IFF's (NYSE:IFF) Scent division has launched its Science of Wellness program to address consumer desires for a more holistic approach to their wellbeing. The program, which builds on the Company's more than forty years of research in fragrance and its impact on emotion and wellness, is designed to guide the creation of scents that support science-based consumer wellbeing, with emotional, cognitive and physical benefits.

Through the combination of neuroscience and consumer perception data, a best-in-class fragrance palette, and the use of its in-house artificial intelligence tool, created in 2006, IFF perfumers design scents that can be used in fast-moving consumer goods in the wellness space.

Nicolas Mirzayantz, President, Scent, said, "IFF has a long history of research into the effects of fragrance on consumer wellness and emotions, along with an AI exploration initiated in 2006. Combining the results of these ongoing studies with the AI unique capabilities, a 15-year pioneer, is allowing our perfumers to awaken emotions and move into territories that we believe are more exciting and relevant for our customers and consumers alike. By pulling together our research, ingredients, and technologies into one program, we are expanding our ability to serve growing consumer demand for wellness solutions."

Products that support wellness are in high demand, with the health and wellness market expected to grow by 5 to 10% annually by 2025 according to Mc Kinsey (Feeling good: The future of the $1.5 trillion wellness market). Further, according to an IFF study conducted in 2020 with 20000 consumers, 87% of consumers reported preference for fragrance with emotional and physical benefits. IFF believes that through its extensive fragrance portfolio, technologies and research, combined with its exceptional creative talent, it is uniquely positioned to address global consumer desire for products with wellness attributes. Mr. Mirzayantz continued, "Supported by the power of its 5 billion datapoints, the IFF Science of Wellness program fosters innovation and supports perfumers by making science-based recommendations, while proposing unexpected scent combinations for fragrances and cosmetics."

"For a perfumer, having access to best-in class perfumery ingredients and the latest technological advances in the digital, neuroscience, and artificial intelligence fields is a fantastic source of inspiration which genuinely helps us on a daily basis," said Fanny Bal, Perfumer, IFF.

Follow and join the #scienceofwellnessxiff conversation online.

Welcome to IFF
At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn.

© 2021 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved.

Contact: IFF CORPORATE	Contact: IFF SCENT
Michael DeVeau	Tracy Paul
Chief Investor Relations & Communications Officer	Tracy Paul & Company
212.708.7164	917.693.9139
Michael.DeVeau@iff.com	Email: tracy@tracypaul.com

 

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SOURCE IFF

FAQ

What is IFF's Science of Wellness program?

The Science of Wellness program is an initiative launched by IFF on May 20, 2021, aimed at creating scents that support consumer wellbeing through emotional and cognitive benefits.

How does IFF use AI in its fragrance development?

IFF utilizes an in-house artificial intelligence tool developed in 2006 to analyze consumer perception and neuroscience data, enhancing its fragrance creation process.

What market growth is projected for wellness products?

The health and wellness market is expected to grow by 5 to 10% annually by 2025, according to McKinsey.

What percentage of consumers prefer wellness-related fragrances according to IFF?

An IFF study revealed that 87% of consumers prefer fragrances that offer emotional and physical benefits.

When was the Science of Wellness program launched by IFF?

The Science of Wellness program was launched on May 20, 2021.