Glanbia announced an agreement to acquire Flavor Producers LLC, for an initial consideration of USD 300 million. Flavor Producers is a US flavor platform, providing flavors and extracts to the food and beverage industries, with a focus on organic and natural ingredients.
FDL, with USD 120 million in projected 2023 sales, offers significant innovation capabilities along with a strong presence in the USD 900 billion European foodservice channel. ADM intends to complete the transaction by end of January 2024.
The global clean-label ingredients market is projected to reach USD 80.69 billion by 2030, at a CAGR of 6.9% from 2023 to 2030, according to a study published by Meticulous Research. Growing consumer preferences for organic and natural ingredients, increasing focus on health and wellness, growing health concerns associated with artificial ingredients, growing consumer demand for clean label meat alternatives, and rise of E-commerce and online grocery shopping are some of the factors driving the growth of the clean label ingredients market.
Overall, the global bakery ingredients market is set to witness growth at a value CAGR of 6.4% from 2022 until 2032, a report by Persistence Market Research shows. A CAGR of 7.3% is anticipated for South Asia and Pacific.
