GET TO KNOW: MARCO MONTEIRO FROM FIRMENICH
Firmenich is the largest privately-owned company in the perfume and flavor business. Swiss and family owned, they have created many of the world’s favorite perfumes for over 100 years and produced a number of the most well known flavors we enjoy each day.
We had the opportunity to ask Marco a few questions on the food and beverage industry before FoodnNext. See what he had to say:
FNA: What do you believe has been the key change in the F&B sector over the past five years?
MM: Over the past 5 years, the industry has seen the rise of the local dynamos. These dynamos have been stealing share from the big food players in the FMCG landscape through operating on lower OPEX, launching quicker innovation and exhibiting an agile speed to market on new products.
Consumers are driven today by the internet of things and exposure to global trends. They want innovation, together with better taste and nutrition at affordable prices.
FNA: Where do you see the three key challenges driving innovation in the industry over the next five years?
MM: 1)Reduced sugar, salt, msg, fat reduction and clean label, whilst still retaining the great taste. This is where Firmenich have great technologies to be able to do this. We are more than just a flavour supplier. We are an all-in-one solutions provider. Firmenich spends more than R5bn globally per year on R&D on Taste Modulation.
2) More consumers will be asking for natural and non GMO products in their food and drink products
3) There will be an increased focus on clean label and better nutrition or fortified food stuffs.
FNA: The F&B sector is undergoing huge change. What are the three tips you would give for success in the coming five years.
MM: 1) The innovation pipeline needs to more agile. F&B companies need to launch products aimed at the ever changing consumer quicker. 12-18 months innovation pipelines just don’t cut it anymore. Consumers want it available now! This is the world we live in.
2) Consumers and in particular Millenials are the most adventurous, making them a promising target group for flavour innovation. Their hunger for unusual flavours highlights the importance of innovation in order to maintain consumer interest
3) Be proactive on the regulations coming on sugar, salt, fat, msg reduction and clean label. For e.g. It was our experience that with the local sugar tax implemented in April this year that manufacturers were racing to the deadline.
FNA: Which type of people do you believe would gain the most form attending your session this year?
MM: All F&B Manufacturers as well as start-ups looking to innovate and compete with global players.