Ingredion, a leading ingredient supplier in the country, is adapting its business strategy in response to an overwhelming demand from food and beverage companies. These companies are seeking to reformulate their products to align with the latest consumer trends.
The company, which operates in over 120 countries and serves more than 17,000 customers globally, is experiencing unprecedented interest from food manufacturers looking to enhance their products by adding protein, reducing sugar, adopting clean label formulations, or improving affordability.
Jim Zallie, CEO of Ingredion, emphasized the need for closer relationships with customers in light of this trend. While the company values all customers, it is becoming more selective in its partnerships and resource allocation.
When considering collaborations with food makers, Ingredion evaluates factors such as alignment with current trends, growth potential, and the impact on sales and margins. The company aims to work with customers whose strategies and portfolios are well-suited to benefit from Ingredion’s expertise.
Patrick Kalotis, Executive Vice President of Texture and Healthful Solutions at Ingredion, highlighted the growing trend of food manufacturers seeking quicker reformulation options. Many companies are turning to Ingredion for its vast ingredient database and solutions business, which recently surpassed $1 billion in sales.
Ingredion’s approach involves not only supplying ingredients but also offering solutions to various challenges faced by food manufacturers. The company’s commitment to innovation is evident in its ability to help clients improve product quality and overcome market obstacles.
To expedite the reformulation process, Ingredion has introduced “co-briefs” to provide customers with viable prototypes within 15 days. This streamlined approach has significantly reduced the time required for product development compared to previous years.
With a global network of “idea labs” and a team of food scientists and culinary experts, Ingredion is well-positioned to drive product innovation and ensure customer satisfaction. Zallie expressed confidence in the continued demand for the company’s solution services, given the industry’s focus on innovation and consumer preferences.
As the landscape of consumer packaged goods evolves, Ingredion sees opportunities in clean label and other reformulation trends. The company remains optimistic about its future prospects, despite challenges facing the industry.