Key Highlights:
- Ingredion, a leading ingredients provider based in Illinois, reported a second-quarter net income of $148 million, showing a 9% decrease from the previous year’s $163 million.
- The company remains focused on its Texture & Healthful Solutions segment and is investing in products aimed at sugar reduction.
- Mike Leonard has joined Ingredion as the new chief innovation officer to enhance research and development efforts for the Texture & Healthful Solutions category, which experienced an 8% growth in sales volume compared to the previous year.
Insightful Developments:
Ingredion has been expanding its product portfolio to cater to the dairy and vegan markets, offering healthier alternatives for formulators.
The company underwent a reorganization in November 2023 to concentrate on specific categories and transition away from regional operations.
CEO Jim Zallie noted an uptick in demand for savory products such as dressings and sauces, despite a slowdown in quick-service restaurants and food away from home.
The sugar reduction business of Ingredion saw a 10% increase in net sales, with a significant investment in PureCircle to develop natural sweeteners for various applications.
Recently, Ingredion collaborated with PureCircle to launch a natural origin sweetener that mimics sugar without additives, suitable for beverages, syrups, and sauces.
Mike Leonard is actively working on enhancing sugar reduction strategies and healthful solutions by leveraging expertise in the healthcare industry to drive innovation and thought leadership.