During the last decade, the ever-changing market dynamics have significantly altered the competitive landscape of our industry. Continuous global consolidation, on-going regulatory enhancements, combined with a strong customer demand for healthier AND tastier products, have resulted in a very different industry landscape. The traditional “flavour house” is gradually disappearing due to its lack of technical, scientific and regulatory capabilities, and the multinationals are now dictating most market dynamics. I say “most” because they still cannot control global customer demands. However, consolidation will intensify as the top multinationals are condemned to yield year-to-year double-digit growth for their shareholders. This is sustainable strictly through acquisitions, and consolidation will inevitably increase over time, resulting into more centralization through operational shutdowns.
For food, beverage, pharmaceutical, and neutraceutical manufacturers, this translates into a situation where product development becomes difficult as the multinationals impose their high minimum volume requirements and slow lead times. For most, (except for the very few large manufacturers), this implies working with “off the shelf” solutions, with few or no interactions between labs. Given the ever-changing global customer demands, one can understand that these conditions make it impossible to develop or enhance products that will provide a competitive advantage.
These challenges serve as a basis for Novotaste’s corporate culture and business model. We privilege constant, productive interactions with our clients’ lab teams in order to develop and customize optimal solutions. Our minimum requirements are reasonable, and lead times are a fraction of the multinationals. As for regulatory standards, we have attained most of the relevant process and safety related accreditations. Add to this that we promote innovation and R&D through a scientific team that is composed of highly experienced individuals and hand-picked top-ranked young scientists who cater to today’s values. The result is that Novotaste is enabled to solve its clients’ technical, scientific, innovative, and regulatory requirements-this without any of the multinationals’ typical constraints.
This is Novotaste. Let us help you add flavour to your success!
President & CEO