Dive Brief:
Ingredion acquired KaTech, a texture and stabilization company headquartered in Germany, according to a press release. Ingredion said the purchase allows it to expand its geographical footprint in these categories and create more label-friendly ingredients and innovative solutions that align with the latest consumer trends.
Ingredients manufacturer Kemin Industries also said this week it purchased Proteus Industries, a Massachusetts-based company focused on clean-label protein ingredients for meat, poultry and protein-based applications.
The acquisitions continue a lengthy period of consolidation in the ingredients space where companies are making deals in order to better respond to changing consumer trends such as avoiding artificial ingredients, curtailing sugar use or increasing consumption of plant-based foods.
This week, science and creativity officially met.
The $26.2 billion megamerger of International Flavors & Fragrances and DuPont Nutrition and Biosciences, officially completed on Feb. 1, solidifies IFF s place as one of the biggest players in the ingredients space. And the revamped company s brand identity, Where science and creativity meet, wraps up how IFF hopes to differentiate itself in the broader industry.
The merger brings together IFF s expertise in food flavors and fragrances and the former DuPont division s leading positions in probiotics, enzymes and food protection. The combined company has estimated 2020 pro forma revenue of more than $11 billion, and earnings before tax, interest, depreciation and amortization of approximately $2.5 billion, excluding synergies, according to a company statement. IFF says the combined company has leadership positions in taste, texture, scent, nutrition, enzymes, cultures, soy proteins and probiotics.
Share:
New York, Dec. 15, 2020 (GLOBE NEWSWIRE) Reportlinker.com announces the release of the report Clinical Nutrition Global Market Report 2020-30: COVID-19 Growth and Change - https://www.reportlinker.com/p05996811/?utm source=GNW
The global clinical nutrition market is expected to grow from $38.19 billion in 2019 to $42.86 billion in 2020 at a compound annual growth rate (CAGR) of 12.23%. The growth is mainly due to the COVID-19 outbreak. Nutritional care is believed to influence recovery time and the patient s ability to return to normal. Nutrition is vital in maintaining avoiding metabolic disturbances during the patient s stay (around two weeks) in the intensive care. Also, as respiratory difficulties prevent patients from eating effectively, nutritional intake is important. The market is then expected to stabilize and reach $52.76 billion in 2023 at a CAGR of 7.18%.