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2021-05-04
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World Reimagined: The Food Flavors Market Could Hit Nearly $20 Billion; Stocks to Watch<blockquote>重新想象的世界：食品香精市场可能达到近200亿美元；值得关注的股票</blockquote>
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Flavorful food is rewarding, and even some flavors that might be stomach-churning for some can be quite appealing to others. That said, we think many question thevomit-flavored jelly beaneven if it was created to bring a fictional world into our reality. The bottom line is that flavor sells, and as we know consumer tastes can be fickle. Different flavors come in and out of favor, but as we embrace plant-based alternatives, particularly for meat, consumer expectations call for something that tastes as good as the original, if not better. For investors, this flavor demand can be satisfied by a handful of global companies attacking the food flavors market, which Fortune Business Insights sees reaching $19.3 billion by 2027, up from $14.1 billion in 2019.</p><p><blockquote>无论我们吃的食物是辣的、甜的、咸的，甚至是淡的，毫无疑问味道很重要。美味的食物是有益的，甚至一些对一些人来说可能会反胃的味道对另一些人来说也很有吸引力。也就是说，我们认为许多人会质疑呕吐味的软糖豆，即使它是为了将一个虚构的世界带入我们的现实而创造的。底线是味道很畅销，正如我们所知，消费者的口味可能是善变的。不同的口味时好时坏，但随着我们接受植物性替代品，特别是肉类，消费者看涨期权期望味道与原味一样好，如果不是更好的话。对于投资者来说，这种风味需求可以通过少数攻击食品风味市场的全球公司来满足，《财富商业洞察》预计，到2027年，该市场将达到193亿美元，高于2019年的141亿美元。</blockquote></p><p><b>What is flavor?</b></p><p><blockquote><b>什么是风味？</b></blockquote></p><p>On our path to discussing those companies, first let's understand what flavor is. Flavor is the sensory impression of a food or other substance, and is determined mainly by the chemical senses of taste and smell. While many of us would think taste is the key determinant of flavor, it’s really the smell that influences the flavor. The reason for this is rather simple - the taste of food is limited to sweet, sour, bitter, salty, and umami. Yes, while we fancy ourselves rather proficient in our respective kitchens, we too had to do some googling to figure out what umami is. The smells of a food are potentially limitless due in part to the fact the human nose can detect more than <a href=\"https://laohu8.com/S/AONE\">one</a> trillion different scents.</p><p><blockquote>在我们讨论这些公司的过程中，首先让我们了解什么是风味。风味是食物或其他物质的感官印象，主要由味觉和嗅觉的化学感官决定。虽然我们中的许多人会认为味道是味道的关键决定因素，但真正影响味道的是气味。原因很简单——食物的味道仅限于甜、酸、苦、咸和鲜味。是的，虽然我们想象自己对各自的厨房相当精通，但我们也不得不做一些谷歌搜索来找出鲜味是什么。食物的气味可能是无限的，部分原因是人类的鼻子可以探测到超过<a href=\"https://laohu8.com/S/AONE\">一</a>万亿种不同的气味。</blockquote></p><p>This means that altering a food’s taste relies not so much on its actual taste, but rather its smell. Examples of this can be found across soft drinks and flavored jellies. The point being that when we think of companies that influence the flavor of food, we have to consider not only spice and ingredient companies, but scent and fragrance ones as well. Food (or flavor?) for thought.</p><p><blockquote>这意味着改变食物的味道与其说取决于它的实际味道，不如说取决于它的气味。这方面的例子可以在软饮料和调味果冻中找到。关键是，当我们想到影响食品风味的公司时，我们不仅要考虑香料和配料公司，还要考虑气味和香料公司。食物（或者味道？）供思考。</blockquote></p><p><b>Plant-based alternatives</b></p><p><blockquote><b>植物性替代品</b></blockquote></p><p>The combination of taste and smell sensations are called flavorants, and we use them to alter or enhance the flavors of natural food product such as meats and vegetables. From the simple salt and pepper to the more complex spices you have in your pantry, their purpose is to enhance the natural flavor of the food so it is more appetizing. Flavorants also add flavor to those food products that may not have the desired flavors, such as different packaged foods that include candies, snacks, beverages, and yes, plant-based foods, particularly plant-based meat alternatives.</p><p><blockquote>味觉和嗅觉的组合被称为调味剂，我们用它们来改变或增强天然食品如肉类和蔬菜的味道。从简单的盐和胡椒到你储藏室里更复杂的香料，它们的目的是增强食物的自然风味，使其更开胃。调味剂还为那些可能不具有所需风味的食品添加风味，例如不同的包装食品，包括糖果、小吃、饮料，是的，植物性食品，特别是植物性肉类替代品。</blockquote></p><p>According to the Plant Based Foods Association, the number <a href=\"https://laohu8.com/S/AONE.U\">one</a> driver of all food purchases is taste. As more food becomes plant-based, there will be more demand for the colors, flavors and scents that consumers have grown accustomed to and these products will become a larger part of the science of food. The plant-based meat market isexpected to reach $13.8 billion by 2027, a dramatic increase compared to $3.3 billion in 2019, as folks look to adopt healthier lifestyles and become more socially responsible. Conventional animal agriculturecontributes 18% of all global greenhouse gas emissions – that’s more than the entire transportation sector!</p><p><blockquote>根据植物性食品协会的数据，<a href=\"https://laohu8.com/S/AONE.U\">一</a>所有食品购买的驱动力是味道。随着越来越多的食品变得以植物为基础，对消费者已经习惯的颜色、味道和气味将会有更多的需求，这些产品将成为食品科学中更大的一部分。到2027年，植物性肉类市场预计将达到138亿美元，与2019年的33亿美元相比大幅增长，因为人们希望采取更健康的生活方式并变得更具社会责任感。传统畜牧业占全球温室气体排放量的18%，比整个交通运输部门还要多！</blockquote></p><p><b>Cleaner preferences</b></p><p><blockquote><b>清洁工首选项</b></blockquote></p><p>Consumers are also increasingly seeking colors, flavors, fragrances and other ingredients that are organic, contain less sodium, are gluten-free, and are non-GMO (genetically modified organisms). Moreover, they are no longer willing to trade off taste for health and nutrition. In 2017, 57% of consumers agreed that nutrition is more important than taste, but only 48% of consumers in 2019 agreed. Furthermore, with consumers wanting less sugar and sodium in food and beverages or the addition of functional ingredients to boost nutritional benefits, the need to build back or balance taste expectations will continue to be key. The confluence of these factors is expected push the global natural and organic flavors market to $10.7 billion by 2027, which equates to a compound annual growth rate of 8.1% over the 2019-2027 period.</p><p><blockquote>消费者也越来越多地寻求有机、含钠较少、无麸质和非GMO（转基因生物）的色素、香料、香料和其他成分。此外，他们不再愿意为了健康和营养而牺牲口味。2017年，57%的消费者认同营养比口味更重要，但2019年只有48%的消费者认同。此外，随着消费者希望食品和饮料中的糖和钠更少，或者添加功能性成分以提高营养价值，重建或平衡口味期望的需求将继续是关键。预计到2027年，这些因素的综合作用将推动全球天然和有机香料市场达到107亿美元，相当于2019-2027年期间的复合年增长率为8.1%。</blockquote></p><p><b>Adding some flavor to your portfolio</b></p><p><blockquote><b>为您的投资组合增添一些风味</b></blockquote></p><p></p><p>When it comes to the combination of flavor, taste and fragrance, investors have roughly a handful of public companies in which to invest. According to data published by Statista, the largest is <b>Givaudan SA (GIVN:SW)</b> with 16% of the global flavored and fragrance market followed by <b>International Flavors & Fragrances (IFF)</b> at 13%, rounded out by <b>Symrise AG (SY1:GR)</b> and privately held Firmenich at 10% each. Quickly tallying the market share percentages published by Statista suggests half of the flavor and fragrance market remains, but we’d quickly note that compilation doesn’t call out <b>McCormick & Co. (MKC)</b> or flavor and color company <b>Sensient Technologies (SXT).</b>Even after adjusting for those two additions, the flavor and fragrance market is a rather fragmented one, and if recent history holds, we could see the recent wave of acquisition activity continue as companies look to position themselves to meet evolving consumer preferences.</p><p><blockquote>当谈到风味、口感和香味的结合时，投资者大约有少数上市公司可以投资。根据Statista公布的数据，最大的是<b>奇华顿SA(GIVN：SW)</b>占全球香精香料市场的16%，其次是<b>国际香精香料协会(IFF)</b>13%，四舍五入<b>Symrise AG(SY1：GR)</b>和私人持有芬美意各持股10%。快速统计Statista发布的市场份额百分比表明，香精和香料市场的一半仍然存在，但我们很快就会注意到，汇编并没有看涨期权<b>味好美公司(MKC)</b>或香精色素公司<b>森森特技术公司(SXT)。</b>即使在对这两个新增内容进行调整后，香精香料市场仍然相当分散，如果最近的历史成立，我们可能会看到最近的收购活动浪潮仍在继续，因为公司希望定位自己以满足不断变化的消费者偏好。</blockquote></p><p>In recent years, McCormick & Co., the company behind Grill Mates Montreal Seasoning, Lawry’s Seasoned Salt, Old Bay, and Frank’s Red Hot Sauce, among others, has been on an acquisition spree. The company recently acquired clean and natural flavor company FONA International, which had sales near $114 million, for $710 million. That purchase closely followed McCormick’s buying hot sauce maker Cholula for $800 million. We’d point out that McCormick is a member of the Dividend Aristocrats, which means it’s not only a member of the S&P 500 but it has continued to increase its dividend for over 25 consecutive years. In our view, we see a company’s ability to deliver that track record while integrating acquisitions pointing to a disciplined and financially savvy management team.</p><p><blockquote>近年来，Grill Mates Montreal Seasoning、Lawry’s Seasoned Salt、Old Bay和Frank’s Red Hot Sauce等公司背后的McCormick&Co.一直在疯狂收购。该公司最近以7.1亿美元收购了销售额接近1.14亿美元的清洁天然香料公司FONA International。此次收购紧随味好美以8亿美元收购辣酱制造商Cholula之后。我们要指出的是，味好美是股息贵族的成员，这意味着它不仅是标普500的成员，而且连续25年持续增加股息。在我们看来，我们认为一家公司在整合收购的同时实现这一业绩记录的能力表明了一支纪律严明、财务精明的管理团队。</blockquote></p><p>International Flavors & Fragrances recently merged with the Nutrition & Biosciences business at <b>DuPont (DD).</b> This combination follows IFF’s 2018 acquisition of Frutarom that enhanced its position in natural taste, scent and nutrition. When IFF reports its quarterly results on May 11, investors should pay attention the expected synergies to be had that will likely range from flavors and fragrances and cross marketing opportunities but cost reductions as well. The degree to which IFF shares more granular thoughts on those matters, the more likely we could see meaningful changes to the current 2021 and 2022 consensus EPS forecasts of $5.91 and $6.59, respectively.</p><p><blockquote>国际香精香料公司最近与营养与生物科学业务合并<b>杜邦（DD）。</b>此次合并是在IFF 2018年收购Frutarom之后进行的，该收购增强了其在天然口味、香味和营养领域的地位。当IFF于5月11日公布季度业绩时，投资者应关注预期的协同效应，这些协同效应可能包括香精香料和交叉营销机会，以及成本降低。IFF在这些问题上分享更详细的想法的程度越高，我们就越有可能看到当前2021年和2022年每股收益共识预测（分别为5.91美元和6.59美元）发生有意义的变化。</blockquote></p><p>Individual companies continue to grow both organically and through acquisition as discussed here. There is no doubt to us that this segment of the food industry is one that is poised for growth, especially given the move away from animal-based protein (meat) and toward plant-based sources. As anyone who has cooked with soybean products can tell you, inasmuch as soybeans are a very versatile food, the one thing they lack above all is flavor.</p><p><blockquote>正如这里所讨论的，个别公司继续有机增长和通过收购增长。对我们来说，毫无疑问，食品行业的这一部分是一个蓄势待发的领域，特别是考虑到从动物性蛋白质（肉类）转向植物性来源。任何用豆制品烹饪过的人都会告诉你，由于大豆是一种用途非常广泛的食物，它们最缺乏的就是味道。</blockquote></p><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p><p><blockquote>本文表达的观点和意见是作者的观点和意见，不一定反映纳斯达克公司的观点和意见。</blockquote></p><p></p>","source":"lsy1603171495471","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>World Reimagined: The Food Flavors Market Could Hit Nearly $20 Billion; Stocks to Watch<blockquote>重新想象的世界：食品香精市场可能达到近200亿美元；值得关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWorld Reimagined: The Food Flavors Market Could Hit Nearly $20 Billion; Stocks to Watch<blockquote>重新想象的世界：食品香精市场可能达到近200亿美元；值得关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-05-04 10:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Whether the food we eat is spicy, sweet, savory, or even bland, there is little question that flavor matters. Flavorful food is rewarding, and even some flavors that might be stomach-churning for some can be quite appealing to others. That said, we think many question thevomit-flavored jelly beaneven if it was created to bring a fictional world into our reality. The bottom line is that flavor sells, and as we know consumer tastes can be fickle. Different flavors come in and out of favor, but as we embrace plant-based alternatives, particularly for meat, consumer expectations call for something that tastes as good as the original, if not better. For investors, this flavor demand can be satisfied by a handful of global companies attacking the food flavors market, which Fortune Business Insights sees reaching $19.3 billion by 2027, up from $14.1 billion in 2019.</p><p><blockquote>无论我们吃的食物是辣的、甜的、咸的，甚至是淡的，毫无疑问味道很重要。美味的食物是有益的，甚至一些对一些人来说可能会反胃的味道对另一些人来说也很有吸引力。也就是说，我们认为许多人会质疑呕吐味的软糖豆，即使它是为了将一个虚构的世界带入我们的现实而创造的。底线是味道很畅销，正如我们所知，消费者的口味可能是善变的。不同的口味时好时坏，但随着我们接受植物性替代品，特别是肉类，消费者看涨期权期望味道与原味一样好，如果不是更好的话。对于投资者来说，这种风味需求可以通过少数攻击食品风味市场的全球公司来满足，《财富商业洞察》预计，到2027年，该市场将达到193亿美元，高于2019年的141亿美元。</blockquote></p><p><b>What is flavor?</b></p><p><blockquote><b>什么是风味？</b></blockquote></p><p>On our path to discussing those companies, first let's understand what flavor is. Flavor is the sensory impression of a food or other substance, and is determined mainly by the chemical senses of taste and smell. While many of us would think taste is the key determinant of flavor, it’s really the smell that influences the flavor. The reason for this is rather simple - the taste of food is limited to sweet, sour, bitter, salty, and umami. Yes, while we fancy ourselves rather proficient in our respective kitchens, we too had to do some googling to figure out what umami is. The smells of a food are potentially limitless due in part to the fact the human nose can detect more than <a href=\"https://laohu8.com/S/AONE\">one</a> trillion different scents.</p><p><blockquote>在我们讨论这些公司的过程中，首先让我们了解什么是风味。风味是食物或其他物质的感官印象，主要由味觉和嗅觉的化学感官决定。虽然我们中的许多人会认为味道是味道的关键决定因素，但真正影响味道的是气味。原因很简单——食物的味道仅限于甜、酸、苦、咸和鲜味。是的，虽然我们想象自己对各自的厨房相当精通，但我们也不得不做一些谷歌搜索来找出鲜味是什么。食物的气味可能是无限的，部分原因是人类的鼻子可以探测到超过<a href=\"https://laohu8.com/S/AONE\">一</a>万亿种不同的气味。</blockquote></p><p>This means that altering a food’s taste relies not so much on its actual taste, but rather its smell. Examples of this can be found across soft drinks and flavored jellies. The point being that when we think of companies that influence the flavor of food, we have to consider not only spice and ingredient companies, but scent and fragrance ones as well. Food (or flavor?) for thought.</p><p><blockquote>这意味着改变食物的味道与其说取决于它的实际味道，不如说取决于它的气味。这方面的例子可以在软饮料和调味果冻中找到。关键是，当我们想到影响食品风味的公司时，我们不仅要考虑香料和配料公司，还要考虑气味和香料公司。食物（或者味道？）供思考。</blockquote></p><p><b>Plant-based alternatives</b></p><p><blockquote><b>植物性替代品</b></blockquote></p><p>The combination of taste and smell sensations are called flavorants, and we use them to alter or enhance the flavors of natural food product such as meats and vegetables. From the simple salt and pepper to the more complex spices you have in your pantry, their purpose is to enhance the natural flavor of the food so it is more appetizing. Flavorants also add flavor to those food products that may not have the desired flavors, such as different packaged foods that include candies, snacks, beverages, and yes, plant-based foods, particularly plant-based meat alternatives.</p><p><blockquote>味觉和嗅觉的组合被称为调味剂，我们用它们来改变或增强天然食品如肉类和蔬菜的味道。从简单的盐和胡椒到你储藏室里更复杂的香料，它们的目的是增强食物的自然风味，使其更开胃。调味剂还为那些可能不具有所需风味的食品添加风味，例如不同的包装食品，包括糖果、小吃、饮料，是的，植物性食品，特别是植物性肉类替代品。</blockquote></p><p>According to the Plant Based Foods Association, the number <a href=\"https://laohu8.com/S/AONE.U\">one</a> driver of all food purchases is taste. As more food becomes plant-based, there will be more demand for the colors, flavors and scents that consumers have grown accustomed to and these products will become a larger part of the science of food. The plant-based meat market isexpected to reach $13.8 billion by 2027, a dramatic increase compared to $3.3 billion in 2019, as folks look to adopt healthier lifestyles and become more socially responsible. Conventional animal agriculturecontributes 18% of all global greenhouse gas emissions – that’s more than the entire transportation sector!</p><p><blockquote>根据植物性食品协会的数据，<a href=\"https://laohu8.com/S/AONE.U\">一</a>所有食品购买的驱动力是味道。随着越来越多的食品变得以植物为基础，对消费者已经习惯的颜色、味道和气味将会有更多的需求，这些产品将成为食品科学中更大的一部分。到2027年，植物性肉类市场预计将达到138亿美元，与2019年的33亿美元相比大幅增长，因为人们希望采取更健康的生活方式并变得更具社会责任感。传统畜牧业占全球温室气体排放量的18%，比整个交通运输部门还要多！</blockquote></p><p><b>Cleaner preferences</b></p><p><blockquote><b>清洁工首选项</b></blockquote></p><p>Consumers are also increasingly seeking colors, flavors, fragrances and other ingredients that are organic, contain less sodium, are gluten-free, and are non-GMO (genetically modified organisms). Moreover, they are no longer willing to trade off taste for health and nutrition. In 2017, 57% of consumers agreed that nutrition is more important than taste, but only 48% of consumers in 2019 agreed. Furthermore, with consumers wanting less sugar and sodium in food and beverages or the addition of functional ingredients to boost nutritional benefits, the need to build back or balance taste expectations will continue to be key. The confluence of these factors is expected push the global natural and organic flavors market to $10.7 billion by 2027, which equates to a compound annual growth rate of 8.1% over the 2019-2027 period.</p><p><blockquote>消费者也越来越多地寻求有机、含钠较少、无麸质和非GMO（转基因生物）的色素、香料、香料和其他成分。此外，他们不再愿意为了健康和营养而牺牲口味。2017年，57%的消费者认同营养比口味更重要，但2019年只有48%的消费者认同。此外，随着消费者希望食品和饮料中的糖和钠更少，或者添加功能性成分以提高营养价值，重建或平衡口味期望的需求将继续是关键。预计到2027年，这些因素的综合作用将推动全球天然和有机香料市场达到107亿美元，相当于2019-2027年期间的复合年增长率为8.1%。</blockquote></p><p><b>Adding some flavor to your portfolio</b></p><p><blockquote><b>为您的投资组合增添一些风味</b></blockquote></p><p></p><p>When it comes to the combination of flavor, taste and fragrance, investors have roughly a handful of public companies in which to invest. According to data published by Statista, the largest is <b>Givaudan SA (GIVN:SW)</b> with 16% of the global flavored and fragrance market followed by <b>International Flavors & Fragrances (IFF)</b> at 13%, rounded out by <b>Symrise AG (SY1:GR)</b> and privately held Firmenich at 10% each. Quickly tallying the market share percentages published by Statista suggests half of the flavor and fragrance market remains, but we’d quickly note that compilation doesn’t call out <b>McCormick & Co. (MKC)</b> or flavor and color company <b>Sensient Technologies (SXT).</b>Even after adjusting for those two additions, the flavor and fragrance market is a rather fragmented one, and if recent history holds, we could see the recent wave of acquisition activity continue as companies look to position themselves to meet evolving consumer preferences.</p><p><blockquote>当谈到风味、口感和香味的结合时，投资者大约有少数上市公司可以投资。根据Statista公布的数据，最大的是<b>奇华顿SA(GIVN：SW)</b>占全球香精香料市场的16%，其次是<b>国际香精香料协会(IFF)</b>13%，四舍五入<b>Symrise AG(SY1：GR)</b>和私人持有芬美意各持股10%。快速统计Statista发布的市场份额百分比表明，香精和香料市场的一半仍然存在，但我们很快就会注意到，汇编并没有看涨期权<b>味好美公司(MKC)</b>或香精色素公司<b>森森特技术公司(SXT)。</b>即使在对这两个新增内容进行调整后，香精香料市场仍然相当分散，如果最近的历史成立，我们可能会看到最近的收购活动浪潮仍在继续，因为公司希望定位自己以满足不断变化的消费者偏好。</blockquote></p><p>In recent years, McCormick & Co., the company behind Grill Mates Montreal Seasoning, Lawry’s Seasoned Salt, Old Bay, and Frank’s Red Hot Sauce, among others, has been on an acquisition spree. The company recently acquired clean and natural flavor company FONA International, which had sales near $114 million, for $710 million. That purchase closely followed McCormick’s buying hot sauce maker Cholula for $800 million. We’d point out that McCormick is a member of the Dividend Aristocrats, which means it’s not only a member of the S&P 500 but it has continued to increase its dividend for over 25 consecutive years. In our view, we see a company’s ability to deliver that track record while integrating acquisitions pointing to a disciplined and financially savvy management team.</p><p><blockquote>近年来，Grill Mates Montreal Seasoning、Lawry’s Seasoned Salt、Old Bay和Frank’s Red Hot Sauce等公司背后的McCormick&Co.一直在疯狂收购。该公司最近以7.1亿美元收购了销售额接近1.14亿美元的清洁天然香料公司FONA International。此次收购紧随味好美以8亿美元收购辣酱制造商Cholula之后。我们要指出的是，味好美是股息贵族的成员，这意味着它不仅是标普500的成员，而且连续25年持续增加股息。在我们看来，我们认为一家公司在整合收购的同时实现这一业绩记录的能力表明了一支纪律严明、财务精明的管理团队。</blockquote></p><p>International Flavors & Fragrances recently merged with the Nutrition & Biosciences business at <b>DuPont (DD).</b> This combination follows IFF’s 2018 acquisition of Frutarom that enhanced its position in natural taste, scent and nutrition. When IFF reports its quarterly results on May 11, investors should pay attention the expected synergies to be had that will likely range from flavors and fragrances and cross marketing opportunities but cost reductions as well. The degree to which IFF shares more granular thoughts on those matters, the more likely we could see meaningful changes to the current 2021 and 2022 consensus EPS forecasts of $5.91 and $6.59, respectively.</p><p><blockquote>国际香精香料公司最近与营养与生物科学业务合并<b>杜邦（DD）。</b>此次合并是在IFF 2018年收购Frutarom之后进行的，该收购增强了其在天然口味、香味和营养领域的地位。当IFF于5月11日公布季度业绩时，投资者应关注预期的协同效应，这些协同效应可能包括香精香料和交叉营销机会，以及成本降低。IFF在这些问题上分享更详细的想法的程度越高，我们就越有可能看到当前2021年和2022年每股收益共识预测（分别为5.91美元和6.59美元）发生有意义的变化。</blockquote></p><p>Individual companies continue to grow both organically and through acquisition as discussed here. There is no doubt to us that this segment of the food industry is one that is poised for growth, especially given the move away from animal-based protein (meat) and toward plant-based sources. As anyone who has cooked with soybean products can tell you, inasmuch as soybeans are a very versatile food, the one thing they lack above all is flavor.</p><p><blockquote>正如这里所讨论的，个别公司继续有机增长和通过收购增长。对我们来说，毫无疑问，食品行业的这一部分是一个蓄势待发的领域，特别是考虑到从动物性蛋白质（肉类）转向植物性来源。任何用豆制品烹饪过的人都会告诉你，由于大豆是一种用途非常广泛的食物，它们最缺乏的就是味道。</blockquote></p><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p><p><blockquote>本文表达的观点和意见是作者的观点和意见，不一定反映纳斯达克公司的观点和意见。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/world-reimagined%3A-the-food-flavors-market-could-hit-nearly-%2420-billion-stocks-to-watch\">Nasdaq</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/017a2d51f9605f643f552ed0e3997176","relate_stocks":{"SXT":"Sensient Technologies Corp"},"source_url":"https://www.nasdaq.com/articles/world-reimagined%3A-the-food-flavors-market-could-hit-nearly-%2420-billion-stocks-to-watch","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103354439","content_text":"Whether the food we eat is spicy, sweet, savory, or even bland, there is little question that flavor matters. Flavorful food is rewarding, and even some flavors that might be stomach-churning for some can be quite appealing to others. That said, we think many question thevomit-flavored jelly beaneven if it was created to bring a fictional world into our reality. The bottom line is that flavor sells, and as we know consumer tastes can be fickle. Different flavors come in and out of favor, but as we embrace plant-based alternatives, particularly for meat, consumer expectations call for something that tastes as good as the original, if not better. For investors, this flavor demand can be satisfied by a handful of global companies attacking the food flavors market, which Fortune Business Insights sees reaching $19.3 billion by 2027, up from $14.1 billion in 2019.What is flavor?On our path to discussing those companies, first let's understand what flavor is. Flavor is the sensory impression of a food or other substance, and is determined mainly by the chemical senses of taste and smell. While many of us would think taste is the key determinant of flavor, it’s really the smell that influences the flavor. The reason for this is rather simple - the taste of food is limited to sweet, sour, bitter, salty, and umami. Yes, while we fancy ourselves rather proficient in our respective kitchens, we too had to do some googling to figure out what umami is. The smells of a food are potentially limitless due in part to the fact the human nose can detect more than one trillion different scents.This means that altering a food’s taste relies not so much on its actual taste, but rather its smell. Examples of this can be found across soft drinks and flavored jellies. The point being that when we think of companies that influence the flavor of food, we have to consider not only spice and ingredient companies, but scent and fragrance ones as well. Food (or flavor?) for thought.Plant-based alternativesThe combination of taste and smell sensations are called flavorants, and we use them to alter or enhance the flavors of natural food product such as meats and vegetables. From the simple salt and pepper to the more complex spices you have in your pantry, their purpose is to enhance the natural flavor of the food so it is more appetizing. Flavorants also add flavor to those food products that may not have the desired flavors, such as different packaged foods that include candies, snacks, beverages, and yes, plant-based foods, particularly plant-based meat alternatives.According to the Plant Based Foods Association, the number one driver of all food purchases is taste. As more food becomes plant-based, there will be more demand for the colors, flavors and scents that consumers have grown accustomed to and these products will become a larger part of the science of food. The plant-based meat market isexpected to reach $13.8 billion by 2027, a dramatic increase compared to $3.3 billion in 2019, as folks look to adopt healthier lifestyles and become more socially responsible. Conventional animal agriculturecontributes 18% of all global greenhouse gas emissions – that’s more than the entire transportation sector!Cleaner preferencesConsumers are also increasingly seeking colors, flavors, fragrances and other ingredients that are organic, contain less sodium, are gluten-free, and are non-GMO (genetically modified organisms). Moreover, they are no longer willing to trade off taste for health and nutrition. In 2017, 57% of consumers agreed that nutrition is more important than taste, but only 48% of consumers in 2019 agreed. Furthermore, with consumers wanting less sugar and sodium in food and beverages or the addition of functional ingredients to boost nutritional benefits, the need to build back or balance taste expectations will continue to be key. The confluence of these factors is expected push the global natural and organic flavors market to $10.7 billion by 2027, which equates to a compound annual growth rate of 8.1% over the 2019-2027 period.Adding some flavor to your portfolioWhen it comes to the combination of flavor, taste and fragrance, investors have roughly a handful of public companies in which to invest. According to data published by Statista, the largest is Givaudan SA (GIVN:SW) with 16% of the global flavored and fragrance market followed by International Flavors & Fragrances (IFF) at 13%, rounded out by Symrise AG (SY1:GR) and privately held Firmenich at 10% each. Quickly tallying the market share percentages published by Statista suggests half of the flavor and fragrance market remains, but we’d quickly note that compilation doesn’t call out McCormick & Co. (MKC) or flavor and color company Sensient Technologies (SXT).Even after adjusting for those two additions, the flavor and fragrance market is a rather fragmented one, and if recent history holds, we could see the recent wave of acquisition activity continue as companies look to position themselves to meet evolving consumer preferences.In recent years, McCormick & Co., the company behind Grill Mates Montreal Seasoning, Lawry’s Seasoned Salt, Old Bay, and Frank’s Red Hot Sauce, among others, has been on an acquisition spree. The company recently acquired clean and natural flavor company FONA International, which had sales near $114 million, for $710 million. That purchase closely followed McCormick’s buying hot sauce maker Cholula for $800 million. We’d point out that McCormick is a member of the Dividend Aristocrats, which means it’s not only a member of the S&P 500 but it has continued to increase its dividend for over 25 consecutive years. In our view, we see a company’s ability to deliver that track record while integrating acquisitions pointing to a disciplined and financially savvy management team.International Flavors & Fragrances recently merged with the Nutrition & Biosciences business at DuPont (DD). This combination follows IFF’s 2018 acquisition of Frutarom that enhanced its position in natural taste, scent and nutrition. When IFF reports its quarterly results on May 11, investors should pay attention the expected synergies to be had that will likely range from flavors and fragrances and cross marketing opportunities but cost reductions as well. The degree to which IFF shares more granular thoughts on those matters, the more likely we could see meaningful changes to the current 2021 and 2022 consensus EPS forecasts of $5.91 and $6.59, respectively.Individual companies continue to grow both organically and through acquisition as discussed here. There is no doubt to us that this segment of the food industry is one that is poised for growth, especially given the move away from animal-based protein (meat) and toward plant-based sources. As anyone who has cooked with soybean products can tell you, inasmuch as soybeans are a very versatile food, the one thing they lack above all is flavor.The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.","news_type":1,"symbols_score_info":{"SXT":0.9}},"isVote":1,"tweetType":1,"viewCount":614,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":12,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/106872389"}
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