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Dive Briefing:
- Illinois-based materials supplier Ingredion reported. Net income for the second quarter ended June 30 was $148 million, down 9% from $163 million in the same period a year ago.
- The company said it will continue to focus on its texture and health solutions segment, investing resources in products aimed at reducing sugar intake.
- Ingredion recently hired Mike Leonard as its new Chief Innovation Officer, with a focus on improving the company’s research and development process for its Texture & Healthful Solutions category, which saw 8% year-over-year sales growth.
Dive Insight:
Ingredion in recent months Worked Towards entry into the dairy and vegetarian sectors By expanding our portfolio to provide product developers with healthier product options.
In November 2023, the company announced a reorganization to shift away from regional operations and focus on the category.
CEO Jim Zelley said in an earnings call Tuesday that the company is also seeing some improvement in savory categories like dressings and sauces.
“While fast-food and restaurant business slowed in the second quarter, demand for homemade frozen chicken and French fries and breadcrumbs is increasing. He said “category”.
The company's sugar reduction business saw a 10% increase in net sales. “We increased our investment and ownership in PureCircle by $40 million during the quarter, increasing our stake to 98%,” Zallie said.
In May, the company launched a product with Purecircle. A natural sweetener that mimics sugar without any additives. The company says the product can be used in beverages, syrups and sauces.
Leonard has been working with healthcare experts to continuously strengthen sugar reduction strategies and the texture and health solutions sector.
““As an ingredient company, we want to make sure that when we launch a new product, especially as it relates to potential claims that our customers might make, we’ve already created an environment where new ingredients can thrive from a thought leadership standpoint,” Leonard told Food Dive in a previous interview.
