BASF, one of the world’s largest chemical companies as well as a leader in sustainable product innovation, unveiled a strategic collaboration with International Flavors & Fragrances Inc. (IFF), a global leader in bioscience innovation, to fuel the innovation in IFF’s Designed Enzymatic Biomaterials™ technology platform and create next-generation enzyme technologies for fabric, dish, and personal care as well as industrial cleaning applications.
This partnership integrates two industry leaders with a basic common goal: to create high-performance, sustainable solutions that address changing consumer and market needs.
By combining BASF's advanced chemical expertise with IFF's biotechnology and protein engineering knowledge, the collaboration aims to deliver innovative solutions at scale. These solutions will create advancements in cleaning performance, improve personal care products, reduce environmental impact, and contribute to a more sustainable future.
As per Coherent Market Insights, the Biotechnology Market will grow at a 12.3% compound annual growth rate (CAGR) from 2025 to 2032, from USD 1,034.63 Bn in 2025 to around USD 2,330.47 Bn by 2032. Increasing prevalence of chronic diseases, new product launches, and strategies like mergers, acquisitions, and collaboration are expected to drive the global biotechnology market growth over the forecast period.
“This partnership marks a strategically significant step for both companies,” said Michael Heinz, member of the Board of Executive Directors of BASF. “By combining our research and development expertise, we are creating the foundation to bring large-scale innovative solutions to market faster for our customers.”
“We are very excited about the collaboration with BASF to jointly unlock new potential in enzyme and polymer technologies,” said Erik Fyrwald, CEO of IFF. “Our partnership enables us to develop market-driven solutions that create sustainable value for both the industry and the environment.”
The collaboration will focus on developing innovative enzyme systems and bio-based polymers, helping customers achieve better performance while using fewer resources. Both companies will continue to operate independently along with maintaining their competitive positions, and combining their strengths to drive innovation as well as offer more choices to customers globally.
By combining BASF’s extensive experience in chemistry with IFF’s expertise in biosciences, this collaboration will make the way for the creation of new enzyme systems and bio-based polymers that cater to a wide range of industries, including textiles, personal care, and industrial cleaning.
Together, they aim to not only enhance performance but also instantly lower the environmental footprint of products. This alliance underscores the growing need for sustainable innovation in the biotechnology sector, positioning both companies to lead the charge in delivering eco-friendly, high-performance solutions for a rapidly evolving global market.
Source:
News: BASF
