International Flavors & Fragrances (NASDAQ: IFF) is the third largest manufacturer of flavor and fragrance chemicals by revenue and the only one of the top five manufacturers based in the U.S. Its chemical compounds are sold to international food, household product, and cosmetics companies.
Revenues and net profits have grown steadily from 2005-2007, with annual revenue growth ranging from 5% to 8%, as IFF taps the emerging luxury and middle class markets of Latin America and Asia. These regions of the world offer the most opportunities for expansion - for instance, the Brazilian cosmetics market is expected by Kline & Company to grow by double digits each year for the next five years and has already become the fourth largest cosmetics market worldwide. IFF also sees opportunities to introduce new products in the midst of the natural and organic foods movement - consumers prefer healthy alternative foods made with natural flavorings to taste similar to the foods they used to consume.(Read more at Wikinvest )