AAK Annual Report 2020

Bakery started off 2020 with a very strong first quarter, which, unfortunately, was followed by a second quarter significantly impacted by the Covid-19 pandemic. The business picked up during the second half of the year, reporting good growth. Solutions AAK provides a wide range of solutions for major bakery applications, such as biscuits, cookies, lamina- tion applications, cakes, bread, and pizza. Our solu- tions are developed to meet customer requirements for health, sustainability, functionality, and process efficiency and may be tailored for specific consumer demands. Trends Consumers are focused on healthier and more sus- tainable solutions where sugar and calorie reduction, low-saturated fats, waste reduction, and shelf-life extension are key areas. New products Created through our co-development approach, we have developed many new customized products, both consumer-oriented, for example calorie- and sugar- reduced biscuits, and customer-oriented, such as production efficiency improvements. Future growth There is a growing demand for efficient and value- adding bakery solutions worldwide. To take advantage of the trend, we will continue to strengthen our posi- tion as an oils and fats specialist with deep technical industry knowledge. We will do so through specialized and dedicated resources and a strong network of regional Customer Innovation Centers and go-to- market teams to facilitate local customer penetration. Bakery AAK Annual Report 2020 19