What are your expectations for next year, keeping in mind the legacy of 2022, but also current challenges?
As we reflect on 2022 and look forward to 2023, we’ll continue to focus on three key pillars – food security, health and wellness and sustainability. Each of these pillars is paving the road for responsible innovation, as we continue to address global challenges faced by our customers.
We have our sights set on creating innovative and authentic solutions that can feed our rapidly expanding global population. Specifically, we’re leveraging our ever-growing portfolio of proteins and continue to explore next-generation protein solutions such as precision fermentation, as well as introduce new plant proteins, to address this worldwide concern.
Additionally, consumers’ focus on health and wellness increases each year, with many wanting to adopt a holistic approach to health to support a variety of areas of their well-being, including immune function, digestive and heart health, mental wellness and energy. As each area of wellness evolves, we’re responding with a full-system approach that includes nutrition, function, texture and taste to help brands meet consumers’ goals.
Moreover, sustainability, transparency and traceability are at the core of ADM. Responsible sourcing and practices are of utmost importance at a global level and one we’ve made a top priority year after year. Our efforts are dedicated to reducing our overall emissions across the entire supply chain, while also working directly with farmers and growers. As such, this enables us to control the quality of ingredients and raw materials from seed to fork.
Our food systems are highly interdependent on current events. However, through our global footprint and our risk management expertise, we’re able to respond quickly to these rapidly changing circumstances to address supply chain issues and ensure we continue to feed the world. Disruptions affecting consumers and customers alike only prove the importance of our work and programs that maintain progression across the entire food and agriculture value chain.
Which are the most important drivers of change for your business in 2023? How do you plan to prepare for them?
We recently revealed our 2023 Global Trends report, which highlights consumer behaviour shifts poised to influence the food and beverage industry in the year to come. We foresee that consumers will put a greater emphasis on those products and brands that address anything from accessibility, tailored and balanced wellness support, and conscientious consumption. In seeking these preferences, people want convenient and affordable options that help them achieve their health and wellness goals, as well as expand their eating horizons through different protein sources along with intriguing flavours and colours. Consumers are also placing more value on trust and traceability claims, as well as on earth-friendly production and social responsibility.
Each of these trend spaces are crucial drivers for our own businesses, and we’re excited to continue to support shifting consumer needs with cutting-edge solutions and technologies.
Balanced Wellness & Proactive Personalisation – We’re actively researching new solutions in this space, building upon our vast health and wellness library, including our award-winning BPL1™, that can help support factors relevant to metabolic health, which is of growing importance as consumers link their gut health to their overall well-being.
Expanded Protein Options – We recently built upon our capabilities in the European region with the acquisition of SojaProtein and the opening of a new extrusion facility in Serbia, expanding our portfolio to include European sourced soy that is non-GMO and certified sustainable.
Experiential Eating – We help brands build innovative and captivating offerings that draw from global flavours and vibrant colours to create more immersive, multi-sensorial and unique products, pulling from our on-trend botanical extracts, colours from our Colors from Nature™ portfolio and flavours from our vast library, including vanilla, citrus and mint collections.
Trust & Traceability, Earth-Friendly Production and Social Impact – With programs like our joint venture, SAVAN™ , in Madagascar, that traces vanilla beans back to the farm of origin, we are helping support a more transparent food system. We’re also supporting these farmers with improved income diversification and access to quality healthcare, education and more.