For anyone working in the food and beverage market, it’s clear that we stand at a crossroads in our mission to meet an ever-growing (and often conflicting) set of demands.
On the one hand, the total value of the global functional food and beverage market now stands at around US$ 280 bn, and it will continue to rise – not least because there will be some 10 bn people living on our planet by 2050. On the other hand, global competition in this market is fiercer than ever.
Delivering increased quality and consistency at low cost and high speed has never been more important as literally tens of thousands of new Food & Beverage products are being launched each year. For example, in 2021 alone, we saw the launch of 4,500 new plant-based meat and dairy alternatives and nearly 26,000 new dairy products.
Manufacturers need to keep continually shortening and simplifying their innovation and new product development cycles while complying with evolving legislation worldwide. At the same time, they need to satisfy consumer demand for delicious, nutritious and – increasingly importantly – sustainable food and drink products. Here, the numbers tell their own story:
Taste (and texture) is still king: around 33% of shoppers globally say they prioritize taste when buying food –more than any other product characteristic.1
Consumers are more health-conscious: for example, 66% of global consumers are looking to improve their diets by reducing their sugar intake1.
Protecting our planet is a must: some 6 in 10 US consumers said it’s important that the foods they buy are produced in an environmentally sustainable way2.
Meeting all these needs is not an easy job. Which is why at DSM we decided to make some changes to our business for 2022 – by creating a simplified, consolidated Food & Beverage business group to serve our customers worldwide.
Our new Food & Beverage business is part of a broader strategy shift announced by DSM in September 2021 aimed at transitioning towards becoming a fully focused Health, Nutrition & Bioscience company.
In Food & Beverage, we are striving to achieve a world where customers and consumers no longer have to choose between taste, texture, and the health of people and planet. We want our food and beverage customers to enjoy it all via a ‘one-stop-shop’ of industry-leading nutritional and functional ingredients, combined with our global and local expertise and science-based solutions.
In practical terms, this adjustment means that we are now better placed to help manufacturers fast-track product development and achieve more efficient production and bring stand-out products to market across a wide range of segments, including: Dairy (fresh dairy & cheese), Bakery, cereals & bars, Savory foods, Beverages & brewing, Plant-based protein alternatives, and Confectionery & fruit.
And ultimately, when those products hit the shelves, they will also be a hit with consumers. It all comes back to those magic words: Taste, texture and health. Enjoy it all!
26 April 2022