Tastes change. It’s a mantra applied to most consumer-facing industries. But what if your industry is actual taste — flavor — and your consumers are looking for new kinds of products but do not, conversely, want the taste of the product to change at all?
This is a challenge that sometimes faces chemists like Mike Zampino at International Flavors and Fragrances, with a near-$40 billion market capitalization, one of the world’s largest public companies dedicated to figuring out how things taste and smell, before selling that expertise and products to clients across the food and beverage industry.
Last year, increased demand for flavoring helped propel the overall North America market past a $9 billion value, according to market research firm IMARC group. The equivalent global figure is several times that multiple, with other major players including DuPont, Givaudan, and Archer Daniels Midland.
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