Snacking Center of Excellence
The snacking category is an ideal fit for Ingredion because it leverages our broad range of solutions, from specialty starches and plant-based proteins to sugar reduction and sweeteners. Working closely with our customers, the experts at our Snacking Center of Excellence draw on their technical proficiency and vast experience to deliver proprietary insights and market-ready prototypes. We are pleased to have secured new snack projects with large food companies, and we have created a multimillion-dollar pipeline with high growth potential.
Sugar Reduction and Specialty Sweeteners
Ingredion is the global leader in natural high-intensity sweeteners for sugar reduction due to our acquisition of PureCircle in 2020. PureCircle’s advanced technology in stevia leaf breeding and enzyme chemistry is critical for large consumer packaged goods companies looking to meet consumer demand for reduced-sugar products. In 2023, we increased our ownership of PureCircle to 88% and continued to expand our pipeline of projects by developing new solutions. We also began a significant expansion of our stevia bioconversion facility in Kuala Lumpur, Malaysia.
Since 2020, we have added approximately 185 new customers for high-intensity natural sweeteners, which has helped remove an estimated 4.7 trillion calories from consumer diets.
Clean and Simple Ingredients
Consumers want products that are closest to nature — made from ingredients that are understood, and authentic. Our comprehensive range of clean-label solutions includes functional native starches, multibenefit citrus fibers, and naturally derived emulsifiers. These ingredients enable manufacturers to replace undesirable additives and develop new products with shorter ingredient lists that feature consumer-preferred labels.
Ingredion’s clean and simple platform benefited from capacity expansion completed in 2022, which allowed us to exceed our 2023 growth expectations and meet customer demand in both the U.S. and Europe. We expanded our portfolio of functional, clean-label ingredient solutions to include texturizers made from the peels of citrus fruits with the U.S. launch of FIBERTEX™ CF 502 and FIBERTEX™ CF 102. We also introduced NOVATION® Indulge 2940, the first non-GMO functional native corn starch and clean-label ingredient that provides a unique gelled texture for popular dairy and alternative dairy products.
Pharmaceutical and Personal Care Ingredients
In 2023, Ingredion’s pharmaceutical and personal care ingredients achieved double-digit growth against the previous year’s strong performance. We set the stage for future growth by expanding our investments in India, one of the fastest-growing pharmaceutical markets in the world. In 2022, we acquired Amishi Drugs & Chemicals in Ahmedabad and secured a majority position in Mannitab Pharma Specialties in Malegaon. Thanks to these strategic investments, Ingredion has an even broader portfolio of functional excipients, better positioning us to partner with pharma and nutraceutical formulators to help them meet regulatory challenges, advance drug development, and pursue emerging trends.
Revised segmentation model that matches market opportunities with business objectives
