Givaudan Eyes Pet Food Market Expansion Through Acquisitions

Givaudan SA, a Swiss fragrance and flavor company, is exploring entering the rapidly expanding pet food market, possibly through acquisitions. CEO Gilles Andrier highlighted the sector`s impressive growth, noting competitors like Symrise AG and Nestle SA are already profiting from it. While finding suitable acquisition targets in the competitive market is challenging, acquiring a pet food ingredient maker could provide Givaudan with a starting point. Andrier expressed optimism about Givaudan`s overall market share growth and year-end results, citing gains over competitors like BASF SE, DSM-Firmenich AG, and Symrise. Entering the pet food sector could offer Givaudan opportunities to provide ingredients and flavors that enhance the taste of pet food, treats, and supplements. The global pet food market is predicted to reach almost $500 billion by 2030, driven by a growing pet population and demand for premium products.