Reimagining the Future of Flavors

 

REIMAGINING THE FUTURE OF FLAVORS

What if we could predict what we will eat over the next 10 years? None of us have a crystal ball to predict the future. However, thanks to signals and cues from consumers, predicting the future is not only possible but necessary for businesses. Consumer changes are happening faster than ever, and this requires businesses to be at the forefront of innovation. At IFF, we see 5 main signals pointing to consumer shifts. Change in "Trust and Transparency" will affect our future world. Today, trust is at an all-time low, and consumers have gradually begun to trust each other more than institutions and large companies; in other words, a shift from the "institutional trust" model to the "distributed trust" model has occurred. This trust model resembles the understanding of trust from the era of small communities, with one difference: today's "small community" consists entirely of the online world. Technology has undoubtedly played an important role in this shift. Today, the trust economy is entirely built on reputation. Think about it—if the food we consumed could speak, what story would they tell about their journey? Since consumers have already turned to reputation-based trust, it has become very important for businesses to bring trust and transparency to their processes and measure their ratings. The second signal is Regenerative Design, which means designing with sustainability in mind. The world population is expected to reach 10 billion by 2050. On the other hand, one in three food items produced in the world is either lost or wasted. Therefore, the industry needs to address how it will feed the world population when we reach 2050. Increasing resource scarcity is driving the intelligent modification of components and the transformation of lifestyles. What if we could create valuable new byproducts from waste in current production processes? For example, this has been happening for years in cheese production; separating whey and cheese byproducts and using them in other nutritious products. This change will not only provide quality, consistency, and cost efficiency but will also give companies the opportunity to tell inspiring stories about advanced transformation and new byproducts. Companies that embrace this will continue to serve with absolute competitive advantage. Sensory Renaissance is the third signal that changes our approach to innovation. Contrary to the consensus that we have 5 senses to perceive the world,

according to New Scientist Magazine, we actually have 21 senses. Today's consumers are much more sophisticated and value experience; therefore, interacting with them only at the level of scent or taste is no longer sufficient.

According to Generation Y and Z consumers, "experience" is much more important than "having" things; in these generations, three out of four people prefer to spend their money on experiences rather than physical possessions. In other words, consumers are beginning to shift from consuming "expensive products" to consuming what "makes an impact." For example, what if our dining experiences could be Instagram-worthy? Sensory brand experience will be very important for future generations. The fourth signal is Augmented Self. The mind-body connection has become a measurable science that helps improve health and wellbeing holistically. With increasing consumer demand to monitor their health, wearable technology usage has increased more than threefold in the past four years. Technologies will provide consumers with motivating and measurable new approaches to tracking their health goals. Additionally, in response to rising stress levels and their effects on overall health, there will be a focus on nutrients that promote emotional wellbeing and uplift mood. What if our bodies could speak and tell us what they need? While consumers will prefer solutions that prevent disease, they will also begin to take responsibility for their health and wellbeing. The final signal is Personalization, driven by biology, science, and digital ecosystems. Imagine a world where food is as personal as the people eating it. General health claims will no longer be sufficient, because consumers expect personalized solutions tailored to their unique needs, goals, and dietary preferences. Additionally, personalization is a key signal for conquering Generation Y; this generation's pursuit and preference for personalized products has already created a ripple effect across many sectors. Very soon, brands will begin to incorporate products personalized according to consumers' unique DNA into their processes. These 5 global signals should be closely monitored to remain relevant to what today's consumers are looking for and to maintain a leading position in competition. Esra Yalçın Marketing Manager Turkey, Central Europe and Iran IFF Aroma Esans San. ve Tic. A.Ş.