diff --git a/.changeset/kind-yaks-clean.md b/.changeset/kind-yaks-clean.md
new file mode 100644
index 0000000000..63316e7532
--- /dev/null
+++ b/.changeset/kind-yaks-clean.md
@@ -0,0 +1,5 @@
+---
+'react-select': patch
+---
+
+Memoize stripDiacritics in createFilter for the input with memoize-one so that stripDiacritics is not called for the same string as many times as there are options every time the input changes
diff --git a/packages/react-select/src/filters.js b/packages/react-select/src/filters.js
index 3dea2f2a7d..3f738f90ef 100644
--- a/packages/react-select/src/filters.js
+++ b/packages/react-select/src/filters.js
@@ -9,6 +9,9 @@ type Config = {
 };
 
 import { stripDiacritics } from './diacritics';
+import memoizeOne from 'memoize-one';
+
+const memoizedStripDiacriticsForInput = memoizeOne(stripDiacritics);
 
 const trimString = str => str.replace(/^\s+|\s+$/g, '');
 const defaultStringify = option => `${option.label} ${option.value}`;
@@ -32,7 +35,7 @@ export const createFilter = (config: ?Config) => (
     candidate = candidate.toLowerCase();
   }
   if (ignoreAccents) {
-    input = stripDiacritics(input);
+    input = memoizedStripDiacriticsForInput(input);
     candidate = stripDiacritics(candidate);
   }
   return matchFrom === 'start'