The Top 10 Food and Drinks Ingredients Companies: Emerging R&D strategies, geographic expansion, portfolio alignment and SWOT analyses

This report profiles the major players in the global food and drinks ingredients industry and the issues affecting their performance. Typically, two sets of material inputs go into the food and drinks manufacturing process: the first set consists of base commodities such as milk, sugar, food grains, vegetables and fruits; the second set consists of ingredients such as preservatives, emulsifiers, seasonings, and flavor enhancers. This report focuses on the engineered or derived ingredients added to products to improve taste, texture or appearance, or add functionality.
This report analyzes the global food and drinks ingredients industry in terms of market size (based on value), key drivers and resistors, industry trends, and competitive positioning of the major players. It includes profiles of the major companies in the industry and also involves a brief write-up on other key players. These were assessed on the following parameters:
• each company's financial performance in the global food and drinks ingredients industry;
• each company's growth strategies and major acquisitions and divestments in this industry;
• key partnerships and alliances formed by these companies;
• business-related strengths and weaknesses of these companies, and insights into the opportunities and threats facing the ingredients companies.


Key features of this report


• Market dynamics of the global food and drinks ingredients companies during the period 2008–13.
• Key market drivers and resistors.
• Trends of the global food and drinks ingredients market.
• Identification of the major players in the global food and drinks ingredients market.
• Performance of the major food and drinks ingredients companies during 2004–08.


Scope of this report


• Learn from the strategies of the top 10 food and drinks ingredients companies to target future growth markets effectively, avoid their mistakes, replicate their successes and learn of the threats they face.
• Benchmark your performance against the leading food and drinks ingredients companies by comprehending their strategies.
• Understand the major issues affecting the global food and drinks ingredients market.
• Predict the key growth areas in the global food and drinks ingredients market arising from the change in customer’s preferences and global recession.

Key Market Issues


• Increase in regulatory compliances: Stringent regulatory developments require health claims to be backed-up with sufficient evidence that will increase the cost of innovation and may restrict the scope of new product development.
• Climatic and social impact on food and drinks industry: The rise in input costs due to climate change and issues such as ethical procurement of cocoa from Ghana puts pressure on margins and the viability of such ingredients.
• Aging population: Low population growth rates and rapidly aging population in developed markets such as Japan is pressurizing food and drinks companies to direct their resources towards development of health-oriented ingredients.
• Rising health concerns such as obesity: Obesity has emerged as a serious public health challenge, particularly in developed regions such as the US and Europe, and food and drinks companies need to increase their focus on ingredients that facilitates weight management.

Key findings from this report


• The global market for food and drinks ingredients was valued at approximately $37bn in 2008. The value of global food and drinks ingredients market is expected to grow at a CAGR of 2.8% during 2008–13 to reach $42bn in 2013.
• Cargill, Kerry Group, CSM and Archer Daniels Midland are among the leading players of the global food and drinks ingredients market.
• Increasing health awareness and the concerns of an aging population will promote consumption of fortified products and shift investments towards the development of new ingredients with health benefits for consumers.
• Mounting pressure from governments and regulators to address food related health problems has opened up considerable opportunities for food and beverages companies. Most companies are seeking to address weight management issues by making healthier products such as fat and sugar replacers, and natural sweeteners.

Key questions answered


1. What was the market size of the global food and drinks ingredients market by value in 2008?
2. What was and will be the market size of the global food and drinks ingredients industry during 2008–13?
3. What are the trends in the global food and drinks ingredients industry?
4. Who are the major players in the market?
5. What are the growth strategies of the top 10 players in global food and drinks ingredients market?
6. What are the strengths of the major players in the global food and drinks ingredients industry?
7. What are the weaknesses of the top 10 players?


Report Highlights
Companies mentioned in the report: AarhusKarlshamn , Ajinomoto Group , AkzoNobel , Archer Daniels Midland , Arla Group , Associated British Foods , BASF , Cargill , Corn Products International , CSM , Danisco , DSM , DuPont , Givaudan , International Flavors and Fragrances , Kerry Group , McCormick , Royal Cosun Group , Südzucker Group , Tate & Lyle
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Table of Contents
The Top 10 Food and Drinks Ingredients Companies
Executive summary 12
Industry overview 12
Cargill 13
Kerry Group 13
CSM 14
Archer Daniels Midland 14
Südzucker Group 15
Tate & Lyle 15
Ajinomoto Group 15
Corn Products International 16
DSM 16
Danisco 17
Chapter 1 Introduction 20
Introduction 20
Methodology 21
Chapter 2 Industry overview 24
Summary 24
Introduction 25
Market dynamics 25
Global food and drinks ingredients market size by value 25
Drivers and resistors 26
Competitive landscape 28
Top 10 food and drinks ingredients companies 28
Comparative analysis of top 10 food and drinks ingredients companies 30
Trends 32
Shift towards obesity and weight management products 32
Emergence of ingredients applicable in functional food 33
Switch to natural and exotic ingredients 35
Chapter 3 Cargill 38
Summary 38
Company overview 39
Financial performance 39
Performance by business segment 40
Growth strategies 40
Targeting healthy food and drinks markets through natural sweeteners 40
Expansion in Europe through capital investments 40
SWOT analysis 41
Chapter 4 Kerry Group 44
Summary 44
Company overview 45
Financial performance 45
Performance by business segment 47
Growth strategies 47
Increasing focus on product customization and cost-efficient ingredients 47
Aggressively pursuing acquisitions to accelerate business growth rate 48
Expansion in the markets for organic ingredients 48
SWOT analysis 49
Chapter 5 CSM 52
Summary 52
Company overview 53
Financial performance 53
Performance by business segments 55
Growth strategies 55
More natural and organic products 55
Expansion in the US market through acquisitions 56
Reorganizing production structure to improve margins 56
SWOT analysis 57
Chapter 6 Archer Daniels Midland 60
Summary 60
Company overview 61
Financial performance 61
Performance by business segment 62
Growth strategies 63
Focus on functional benefits 63
Capitalizing on the growth potential of the chocolate sector 64
Strengthening asset base in developed markets through acquisitions 64
SWOT analysis 66
Chapter 7 Südzucker Group 68
Summary 68
Company overview 69
Financial performance 69
Performance by business segment 71
Growth strategies 72
Developing ingredients applicable in healthy foods and beverages 72
Expansion in starches and fruit extracts markets 72
SWOT analysis 74
Chapter 8 Tate & Lyle 76
Summary 76
Company overview 77
Financial performance 77
Performance by business segment 79
Growth strategies 79
Positioning ingredients portfolio in the health and wellness category 79
Consolidating market share in EMEA through partnerships and alliances 80
SWOT analysis 81
Chapter 9 Ajinomoto Group 84
Summary 84
Company overview 85
Financial performance 85
Performance by business segment 87
Growth strategies 87
Emphasis on developing customized ingredients 87
Expansion in international markets 88
SWOT analysis 89
Chapter 10 Corn Products International 92
Summary 92
Company overview 93
Financial performance 93
Performance by business segment 94
Growth strategies 94
New specialty ingredients for health and wellness 94
Strengthening ingredients asset base in Americas through acquisitions 95
SWOT analysis 96
Chapter 11 DSM 98
Summary 98
Company overview 99
Financial performance 99
Performance by business segment 101
Growth strategies 101
Aggressively developing ingredients applicable in organic, natural and functional food products 101
Acquisitions to strengthen product development capabilities 102
Partnerships and joint-ventures for expansion in international markets 103
SWOT analysis 104
Chapter 12 Danisco 106
Summary 106
Company overview 106
Financial performance 107
Performance by business segment 109
Growth strategies 109
Expanding production facilities to meet demand for functional products 109
Strengthening ingredients portfolio and development capabilities through alliances 110
Consolidating share in international markets through acquisitions 111
Re-alignment of sweeteners business to improve margins 111
SWOT analysis 112
Chapter 13 Other major players 114
Associated British Foods 114
Company overview 114
Financial performance 114
AarhusKarlshamn 116
Company overview 116
Financial performance 117
AkzoNobel 118
Company overview 118
Financial performance 119
Arla Group 120
Company overview 120
Financial performance 121
BASF 122
Company overview 122
Financial performance 123
DuPont 124
Company overview 124
Financial performance 125
Givaudan 126
Company overview 126
Financial performance 127
International Flavors and Fragrances 128
Company overview 128
Financial performance 129
McCormick 130
Company overview 130
Financial performance 131
Royal Cosun Group 132
Company overview 132
Financial performance 133
Chapter 14 Appendix 136
Glossary 136
Index 138

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List of Figures
Figure 2.1: Global food and drinks ingredients market size ($bn), 2008–13 26
Figure 2.2: Top 10 food and drinks ingredients companies based on sales performance ($m), 2008 30
Figure 2.3: Comparative analysis of top 10 food and drinks ingredients companies, 2008 31
Figure 3.4: Cargill SWOT analysis 41
Figure 4.5: Kerry financial performance ($m), 2004–08 46
Figure 4.6: Kerry SWOT analysis 49
Figure 5.7: CSM financial performance ($m), 2004–08 54
Figure 5.8: CSM SWOT analysis 57
Figure 6.9: ADM financial performance ($m), 2005–09 62
Figure 6.10: ADM SWOT analysis 66
Figure 7.11: Südzucker financial performance ($m), 2004–08 71
Figure 7.12: Südzucker SWOT analysis 74
Figure 8.13: T&L performance ($m), 2004–08 78
Figure 8.14: T&L SWOT analysis 81
Figure 9.15: Ajinomoto financial performance ($m), 2004–08 86
Figure 9.16: Ajinomoto SWOT analysis 89
Figure 10.17: CPI financial performance ($m), 2004–08 94
Figure 10.18: CPI SWOT analysis 96
Figure 11.19: DSM financial performance ($m), 2004–08 100
Figure 11.20: DSM SWOT analysis 104
Figure 12.21: Danisco financial performance ($m), 2004–08 108
Figure 12.22: Danisco SWOT analysis 112
Figure 13.23: ABF financial performance ($m), 2005–09 116
Figure 13.24: AAK financial performance ($m), 2006–08 118
Figure 13.25: AkzoNobel financial performance ($m), 2004–08 120
Figure 13.26: Arla financial performance ($m), 2006–08 122
Figure 13.27: BASF financial performance ($m), 2004–08 124
Figure 13.28: DuPont financial performance ($m), 2004–08 126
Figure 13.29: Givaudan financial performance ($m), 2004–08 128
Figure 13.30: IFF financial performance ($m), 2004–08 130
Figure 13.31: McCormick financial performance ($m), 2004–08 132
Figure 13.32: Cosun financial performance ($m), 2004–08 134
List of Tables
Table 2.1: Global food and drinks ingredients market size ($bn), 2008–13 26
Table 2.2: Top 10 food and drinks ingredients companies based on sales performance ($m), 2008 29
Table 2.3: Weight management products from major food and drinks ingredients companies 33
Table 2.4: Select functional food ingredients developed by major food and drinks ingredients companies 34
Table 3.5: Cargill snapshot 38
Table 3.6: Cargill financial performance ($m), 2005–09 40
Table 4.7: Kerry snapshot 44
Table 4.8: Kerry financial performance, 2004–08 46
Table 4.9: Kerry business segment performance, 2008 47
Table 4.10: Select Kerry acquisitions, 2007–09 48
Table 5.11: CSM snapshot 52
Table 5.12: CSM financial performance, 2004–08 54
Table 5.13: CSM business segment performance, 2008 55
Table 6.14: ADM snapshot 60
Table 6.15: ADM financial performance ($m), 2005–09 62
Table 6.16: ADM business segment performance ($m), 2009 63
Table 6.17: ADM acquisitions of ingredient businesses, 2007–09 65
Table 7.18: Südzucker snapshot 68
Table 7.19: Südzucker financial performance, 2004–08 70
Table 7.20: Südzucker business segment performance, 2008 72
Table 8.21: Tate & Lyle snapshot 76
Table 8.22: T&L financial performance, 2004–08 78
Table 8.23: T&L financial performance, 2004–08 79
Table 8.24: T&L partnerships for EMEA markets, 2007–09 80
Table 9.25: Ajinomoto snapshot 84
Table 9.26: Ajinomoto financial performance, 2004–08 86
Table 9.27: Ajinomoto business segment performance, 2008 87
Table 10.28: Corn Products International snapshot 92
Table 10.29: Corn Products International financial performance ($m), 2004–08 93
Table 11.30: DSM snapshot 98
Table 11.31: DSM financial performance, 2004–08 100
Table 11.32: DSM business segment performance, 2008 101
Table 11.33: Select DSM product launches, 2007–09 102
Table 11.34: DSM acquisitions, 2007–09 103
Table 12.35: Danisco snapshot 106
Table 12.36: Danisco financial performance, 2004–08 108
Table 12.37: Danisco business segment performance, 2008 109
Table 12.38: Select Danisco alliances and partnerships, 2007–09 110
Table 12.39: Select Danisco acquisitions, 2007–09 111
Table 13.40: Associated British Foods snapshot 114
Table 13.41: ABF financial performance, 2005–09 115
Table 13.42: AarhusKarlshamn snapshot 116
Table 13.43: AAK financial performance, 2006–08 117
Table 13.44: AkzoNobel snapshot 118
Table 13.45: AkzoNobel financial performance, 2004–08 119
Table 13.46: Arla Group snapshot 120
Table 13.47: Arla financial performance, 2006–08 121
Table 13.48: BASF snapshot 122
Table 13.49: BASF financial performance, 2004–08 123
Table 13.50: DuPont snapshot 124
Table 13.51: DuPont financial performance ($m), 2004–08 125
Table 13.52: Givaudan snapshot 126
Table 13.53: Givaudan financial performance, 2004–08 127
Table 13.54: International Flavors and Fragrances snapshot 128
Table 13.55: IFF financial performance ($m), 2004–08 129
Table 13.56: McCormick snapshot 130
Table 13.57: McCormick financial performance ($m), 2004–08 131
Table 13.58: Royal Cosun Group snapshot 132
Table 13.59: Cosun financial performance, 2004–08 133

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