Tate & Lyle, for example, is keen to move towards ingredients perceived as "healthier". In 2010, the supplier spun off its sugar business and continued to invest in technologies to reduce sugar.
Tate & Lyle recently bought CP Kelco for about $1.8 billion. €1.6 billion. It sells citrus fibers, which come from citrus peels, as well as ingredients like pectin.
What is the response to concerns about health and food ingredients?
Long lists of food ingredients are increasingly worrying consumers, so clean label products are in high demand.
We are seeing a much greater consumer focus on the ingredients listed on product labels. FoodNavigator reported that consumers are increasingly looking for ingredients that they see as recognizable, “clean,” “natural,” and “clean.” They also prefer labels with fewer ingredients. The company says CP Kelco’s ingredients are based on nature.
Consumer health has also been a major factor in trends that have emerged in recent years. This has led to trends such as the continued demand for sugar reduction.
Pitchbook research and Tate & Lyle's own findings show that demand for healthy, clean ingredients is driving growth in the specialty food ingredients market.
Clean Label Meat Alternatives
Many plant-based meat alternatives have long ingredient lists that include products the consumer has never heard of before. Some meat alternatives are bucking the trend. For example, Spanish start-up HeuraProduces clean label meat substitutes such as chicken, ham and other types of meat. VegblocIn contrast, produces a "clean-label" meat substitute that does not seek to imitate a particular meat but is part of a meal. CP Kelco supplies ingredients for meat substitutes, such as pectin, citrus fibers and cellulose.
Tate & Lyle estimates that the specialty ingredients market will reach $75 billion by 2022 (approximately €69 billion in 2022). This is 22 billion % more than the global market. The compound annual growth rate is expected to be 6 billion %
Tate & Lyle aims to develop a healthier product portfolio through the acquisition. This will help create a more positive image among consumers
Customers often use CP Kelco’s specialty gums to solve gelling, stabilization and thickening challenges. Tate & Lyle CEO Nick Hampton said citrus fiber, one of the company’s new clean label ingredients, is being used in a growing number of consumer products to provide nutrients.
What will be the impact of the new acquisition on the company?
Hampton, of Tate & Lyle's Hampton, told FoodNavigator that CP Kelco's products will now be able to be used for a variety of applications.
As a joint venture, we will be able to provide sweeteners that will replace sugar by providing a mouthfeel similar to pectin/gum, which coats the tongue. We could have thickened a Chipotle sauce with starch, but we didn't. "Once we combine, we can thicken the sauce with starch and stabilize it with xanthan gum," he said.
The two companies have already worked closely together. This partnership will be even closer after the acquisition.
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