"We plan to continue growing strategically across all of Asia Pacific, organically by expanding our partnerships with key principals and customers, and through targeted acquisitions."
How has Azelis grown in the APAC region?
Since inaugurating our Asia Pacific regional headquarters in Singapore in 2016, we have experienced exponential growth in the region through strategic acquisitions, key mandate wins with principals, and sales expansion with customers, our three key pillars of growth.
Since 2017, we have completed 20 acquisitions in Asia Pacific, across multiple countries and market segments, significantly expanding our lateral value chain and the innovative solutions we offer.
We have also invested in our innovation capabilities, opening our first Regional Innovation Center (RIC) for Food & Nutrition in Singapore in 2021, focusing on developing healthy and tasty recipes across all applications that are then cascaded across the region and our laboratory network.
What trends in demand have you observed?
One major trend is a stronger focus on sustainability, which is a core part of our business model. We are actively reviewing our portfolio to identify sustainable ingredients, which can be used to develop sustainable formulations, and allows us to suggest sustainable alternatives to our customers.
Another major trend has been ensuring adequate safety stock due to supply chain challenges. We have invested in creating a smart and flexible supply chain hub in our regional headquarters in Singapore, where a complex supply chain system is managed centrally by a dedicated team. From centralized logistics to invoicing, the hub serves the entire region and ensures we maximize product availability, as being able to foresee demand and ensure product availability at the right time is critical for our business.
Where do you see growth opportunities?
While we look to grow in all our market segments, we will continue to focus on our key market segments. We see growing demand for products with an element of health and nutrition, which is why we are also focusing on expanding our lateral value chain in our Pharma and Food industries with nutritional ingredients. Within all our markets, we are also focusing on ways to implement our sustainability strategy to deliver sustainable solutions for each industry, from healthier food formulations to clean beauty formulations and agricultural solutions that are better for the environment.
Can you describe the key challenges?
One key challenge is price volatility. We have undertaken a few strategic initiatives to best manage the impact of price increases on our business and our partners. Transparency in how we communicate and operate is integral to how we manage our relationships and underpins the trust our principals and customers have in our business.
Most importantly, we demonstrate how we create additional added value through our innovation services and extensive lateral value chain. We help customers gain a competitive advantage in their markets through the creation of new products that meet consumer needs or help in reducing manufacturing costs.
What is Azelis’s approach to digitalization?
Digitalization is an incredible opportunity to get closer to our partners. We aim to position digitalization as an extension of how we conduct business with our partners: innovatively, respectfully, and with transparency. For each of our stakeholders, internally and externally, we are developing tailored tools that reflect the solutions we offer. For instance, we developed a platform for our customers where they can access everything from product information to ready-to-use formulations and place orders with just a click. Taking this a step further, our digital and innovation teams collaborated to create our e-Lab, a service where customers can request technical support to formulate a new concept, customize an existing formulation, or solve a technical issue. Everything is designed to create a safe, confidential, and user-friendly experience for both our customers and our teams.
What is your growth strategy looking forward?
Asia Pacific is a high-growth market, and one where we also have room for growth. We will continue to focus on driving our growth in Asia Pacific, as our business model envisions an Azelis footprint in every country where business growth potential is available. We plan to continue growing strategically across all of Asia Pacific, organically by expanding our partnerships with key principals and customers, and through targeted acquisitions. Our people are also integral to the success of our business, and we will continue to focus on employee engagement and nurturing opportunities for personal and professional growth.