On February 12, 2021, Ingredion Incorporated announced a joint venture agreement with Grupo Arcor for expanding its food and beverage ingredient offerings to its customers in Argentina, Uruguay, and Chile. The joint venture between the two companies is projected to deliver a turnover of more than USD 300 million.
On November 24, 2020, one of the subsidiaries of DuPont de Nemours, Inc., DuPont Nutrition & Biosciences, announced a partnership with the Institute for the Future (IFTF). The partnership is aimed at delivering far-sighted innovations in the food and beverage industry, including the development of strategies for the right solutions, ingredient technology, and application concepts.
Author Credits: Parul Atri
Report ID: 2870
Published Date: Sep 23, 2024
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Rising demand for bio-based food ingredients from end-user industries, along with the numerous functional benefits of carrageenan, are some of the major factors driving the market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021-2029.
The market in Europe is projected to display significant business opportunities in the future, owing to the stringent norms of the government for food manufacturers to limit the use of synthetic food ingredients.
The major companies in the market are Marcel Trading Corporation, MCPI CORPORATION, Aquarev Industries, Ashland, DuPont de Nemours, Inc., Ingredion Incorporated, TIC Gums, Inc., and others.