AAK Annual Report 2020

AAK Annual Report 2020 11 Innovation as a foundation At AAK, innovation is a means to accelerate sustain- able growth for us and our customers. By constantly exploring new insights, new raw materials and new technologies, we are able to co-develop unique solu- tions that open the door to a wealth of opportunities. This is what makes working with AAK different. Market insights Our solutions are never a success unless they add tangible, long-term value to our customers. Through our co-development approach, we start by gaining deep insights into the drivers behind market demand, as well as the challenges they present. This gives us a powerful framework to ensure each solution is exactly in line with the customer’s specific requirements. Value at every stage When it comes to creating a new solution, our global network of Customer Innovation Centers is home to many of the best engineering and technical minds in the business. We work in close collaboration with our customers’ own teams and experts to bring the best resources into play at every stage. This allows us to make sure that value is created throughout the process until the final solution is ready for launch. Our approach to innovation ensures relevant solutions that are swiftly implemented in the marketplace to create new options for meeting consumer demands on sensory experience and nutrition. But increasingly important, it also creates long-lasting values in the supply chain by ensuring efficient, safe and sustainable solutions in handling and processing. New innovations In the pandemic-challenged 2020, we increased our focus on sustainable and safe innovations within plant-based foods and nutrition as well as on sustain- able and safe supply chains. We have brought products to market focusing on new and emerging challenges in the food supply chain – this in accordance with our strategy to decrease food safety risks within infant nutrition and improve the functionality of plant-based foods. In the confectionery space, we have developed new solutions to eliminate harmful trans fatty acids in confectionery products across the globe. Sustainable innovation Our innovation projects include ambitions to respect, as far as possible, the so-called precautionary approach. This means that we strive to implement more environment-friendly technologies, applications and products to address impacts of the full life cycle of our solutions. Innovation for the future Going forward and within our strategic framework, we will continue to work closely with our customers, suppliers and other partners to gain market insights and steer our innovation efforts towards customer co-developed solutions that continuously make better consumer products happen. We will also increase our focus on solutions for plant-based foods and nutritional solutions that can be implemented in the food sector where we already have a strong footprint through our regional Customer Innovation Centers and close connection to the market.