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Ingredion

Ingredion Incorporated is a leading global provider of ingredient solutions that transforms grains, fruits, , and other plant-based materials into value-added starches, sweeteners, ingredients, and biomaterials for use in , beverages, , animal , pharmaceuticals, , and other industries. Headquartered in , the company operates 46 manufacturing facilities across , , , , and other regions, serving customers in more than 120 countries with approximately 11,200 employees worldwide. In 2024, Ingredion reported net sales of approximately $7.4 billion, with starches accounting for 49% and sweeteners for 35% of its revenue. Founded in 1906 as the Corn Products Refining Company through the merger of leading U.S. corn refiners, Ingredion has a long history of innovation and expansion in the ingredients sector. Key milestones include its 1919 acquisition of Canada Starch Company, the 1958 merger with The Best Foods, Inc., and the 1998 spin-off as Corn Products International; the company adopted its current name, Ingredion Incorporated, in 2012 to better reflect its role as a comprehensive ingredients solutions provider. Over the decades, it has grown through strategic acquisitions such as National Starch in 2010, PureCircle Limited and Verdient Foods in 2020, and KaTech in 2021, while forming joint ventures like the one with Grupo Arcor in 2021 to enhance its global footprint. In recent years, Ingredion has emphasized sustainability and innovation, including the sale of its South Korea business in February 2024 to focus on core growth areas. Ingredion structures its operations into three reportable segments: Texture & Healthful Solutions (T&HS), which provides global specialty ingredients like clean-label starches and plant-based proteins from 23 facilities; Food & Industrial Ingredients - Latin America (F&II - LATAM), operating 10 facilities in and South America for core starches and sweeteners; and Food & Industrial Ingredients - U.S./ (F&II - U.S./Canada), with 6 facilities focused on similar products for North American markets. The company also maintains an "All Other" category for emerging areas such as sugar reduction and protein fortification. In 2024, the represented 56% of net sales, followed by beverages at 10% and at 7%, underscoring Ingredion's pivotal role in addressing consumer demands for healthier, sustainable, and convenient products. With over 500 professionals across 30 Ingredion Idea Labs®, the company invests heavily in tailored solutions, including non-GMO ingredients, texture enhancement, and nutrition fortification to help customers meet evolving market trends like clean-label formulations and reduced sugar content. Ingredion's commitment to integrity and sustainability is evident in its long-standing practices, such as community support and responsible sourcing, positioning it as a preferred partner for brands seeking innovative, high-quality ingredients.

History

Founding and Early Development

Ingredion traces its origins to the Corn Products Refining Company, formed in January 1906 through the merger of the New York Glucose Company, the Corn Products Company, and the Warner Refining Company, which together controlled a significant portion of the U.S. corn refining industry. Thomas E. Bedford, a key figure in the glucose trade, became the company's first president, guiding its initial consolidation and operational focus on processes to produce essential ingredients such as , syrups, and sugars. This merger positioned the company as a dominant player, producing about 84% of U.S. by the early 1900s and enabling in processing corn into versatile products for both food and industrial applications. The company's early operations centered on establishing efficient production facilities in the United States, with its flagship plant opening near Argo (now Summit), Illinois, in 1908, which became one of the largest corn refineries in the world with a daily capacity exceeding 80,000 bushels by the 1930s. A foundational innovation predating the full merger was the development of Karo corn syrup in 1902 by the precursor Corn Products Company, which quickly gained popularity as a household sweetener and preservative, achieving major sales volumes by 1912 and solidifying the company's consumer market presence. During the 1910s and 1920s, the firm expanded its product portfolio with innovations like Mazola corn oil in 1911 and over 200 varieties of industrial starches, branching into non-food uses such as adhesives, paper sizing, and textiles to diversify beyond food sweeteners. Growth accelerated during as the company ramped up production to meet surging demand for corn-derived products in food rations and industrial materials, despite corn shortages, ultimately increasing its market dominance to 75% of U.S. glucose output by 1916. In , Corn Products Refining continued to support wartime efforts by supplying starches and syrups for military foods and manufacturing, though it faced temporary plant closures in Kansas City and Pekin due to resource constraints in ; the company adapted by prioritizing essential outputs and emerged stronger, with its facility playing a central role in sustaining domestic production.

Global Expansion and Acquisitions

In 1958, Corn Products Refining Company merged with The Best Foods, Inc., forming Corn Products Company and gaining access to consumer brands such as Mazola corn oil and Skippy peanut butter, which facilitated diversification beyond industrial corn refining into packaged foods. The company further expanded its portfolio through these brands, emphasizing corn-derived products like oils and spreads to build a broader global consumer presence. In 1969, the entity rebranded as CPC International Inc. to reflect its growing international scope and reduced emphasis on solely corn-based operations. CPC International pursued aggressive international growth in the mid-20th century, establishing operations in during the 1960s amid existing facilities in countries like , , and that dated back to . In Asia, the company entered markets such as in 1962 and in 1967, focusing on corn refining and local sourcing. By the 1970s, expansion accelerated in , with entries into in 1961, in 1958, and further penetration into and other South American countries in 1974 through investments in regional refining capabilities. These moves diversified sourcing to include corn, , and , supporting ingredient production for global markets. In 1983, CPC acquired the Ban Khao Din facility in , , marking a key step in Asian growth and enabling starch processing. The brought significant restructuring to sharpen focus on core s. In 1997, CPC International spun off its corn-refining and industrial ingredients business into the independent Corn Products International, Inc., while renaming the remaining consumer products division Bestfoods to highlight brands like Hellmann's, Mazola, and Skippy; this separation allowed each entity to pursue specialized global strategies, with Corn Products International emphasizing ingredient solutions and expanded reach in via acquisitions like a majority stake in Mexico's Arancia that year. Further builds included rebuilding a plant in (1994–1996), increasing presence in (1997), and joint ventures in (1999). In , however, the company sold its operations in 1987 to prioritize higher-growth regions. Entering the 2000s, Corn Products International refocused on ingredients through targeted expansions, acquiring Argentina's largest corn refiner in 2000 and achieving full ownership of its Mexican subsidiary in 2002, alongside opening the world's largest tapioca processing facility in that year to bolster starch sourcing diversity. Additional acquisitions included a for manufacturing in (2004), full control of its South Korean operations (2005), and businesses in and the U.S. for specialty polyols (2007). In 2010, the company acquired National from for $1.3 billion, significantly enhancing its portfolio in specialty starches and global ingredient capabilities.

Rebranding and Recent Milestones

In , Corn Products underwent a significant to Ingredion Incorporated, approved by shareholders on May 15, to better reflect its evolution into a global provider of solutions beyond traditional corn-based products. The name change, effective that year, also involved updating its ticker from CPO to INGR, emphasizing the company's broadened portfolio of starches, sweeteners, and texturants derived from various plant sources. From 2015 to 2020, Ingredion pursued strategic acquisitions to expand its capabilities in natural and plant-based ingredients, supporting sustained growth during this period. In July 2015, it acquired Kerr Concentrates, Inc., a producer of natural fruit and vegetable concentrates, purees, and essences, in a transaction valued at approximately $100 million, which enhanced its clean-label offerings for food and beverage applications. This was followed in 2020 by the acquisition of a controlling 75% stake in PureCircle Limited, the world's leading producer of stevia-based sweeteners, completed on July 1, which bolstered Ingredion's position in natural, low-calorie sweetening solutions for global markets, and the full acquisition of Verdient Foods in November to accelerate growth in pulse-based proteins for food and animal nutrition. In February 2021, Ingredion formed a joint venture with Grupo Arcor in South America, with Ingredion holding a 49% stake, to strengthen its starches and sweeteners capabilities in the region. Later that year, on April 1, Ingredion acquired KaTech, a German manufacturer of texture and stabilization solutions, to expand its specialty ingredient portfolio. In February 2024, Ingredion completed the sale of its business to an affiliate of the Sajo Group for approximately $294 million, as part of efforts to streamline operations and focus on core growth areas. Also in 2024, the company implemented a major reorganization, effective January 1, to streamline operations and prioritize high-value categories, introducing a global & Healthful Solutions segment alongside regional Food & Industrial Ingredients segments for and U.S./. This structure aimed to enhance customer collaboration on texture modification and health-focused innovations while improving financial transparency. The company reported net of $7.4 billion for fiscal year 2024, reflecting resilient performance amid volatile input costs and demand shifts. At its 2025 Investor Day on September 17, Ingredion highlighted ongoing innovation in plant-based proteins, showcasing solutions like and fava bean isolates for high-protein beverages and alternatives to meet rising for sustainable . However, in the third quarter of 2025, reported operating income declined 7% year-over-year to $249 million, attributed to production challenges and unfavorable market dynamics in key regions.

Corporate Operations

Business Segments

Ingredion operates through three reportable business segments as of 2025: & Healthful Solutions (T&HS), Food & Industrial Ingredients - (F&II - LATAM), and Food & Industrial Ingredients - U.S./ (F&II - U.S./Canada). The & Healthful Solutions segment focuses on premium, innovative ingredients such as plant-based proteins, soluble fibers, and clean-label starches, targeting growth in health and wellness trends. This division emphasizes advancements in sugar reduction technologies and enhancement solutions for food and beverage applications, serving as a high-margin growth area with global reach across 23 facilities. In , this segment generated net sales of approximately $2.37 billion, representing about 32% of the company's , and operating income of $350 million, driven by double-digit sales volume growth in the second half of the year. The F&II - U.S./Canada and F&II - LATAM segments encompass core commodity products, including starches, sweeteners, and industrial biomaterials derived primarily from corn and sources. These segments provide a stable base supporting , beverage, , and industrial markets through regional operations, utilizing local sourcing to maintain efficiency. In 2024, the F&II segments combined contributed net of roughly $4.6 billion, accounting for approximately 62% of total company , with operating income of $856 million across both. The U.S./Canada sub-segment reported $2.16 billion in and $373 million in operating income, while the LATAM sub-segment achieved $2.45 billion in and $483 million in operating income, bolstered by facility optimizations in and . Ingredion underwent a strategic reorganization effective January 1, 2024, to prioritize high-margin specialty solutions like those in & Healthful Solutions while maintaining separate reporting for the regional F&II segments, enhancing customer collaboration and operational transparency. This structure, comprising three reportable segments, persisted as of the third quarter of 2025. The shift aligns with broader commitments, including a goal to achieve 100% sustainable sourcing of Tier 1 priority crops—such as corn, , , pulses, and —by the end of 2025, building on 85% achievement in 2024 through on 74,000 acres. The "All Other" category, contributing $459 million in 2024 sales (about 6% of total), includes niche operations like and but is not a core reportable segment.

Manufacturing and Supply Chain

Ingredion operates 46 manufacturing facilities worldwide, supporting its global production of ingredient solutions from plant-based materials. Key sites include the Argo plant in Bedford Park, Illinois, which serves as the company's headquarters and oldest facility, established in 1908 and remaining its largest operation. Another significant U.S. location is the Cedar Rapids, Iowa facility, which has over a century of history in starch production and began a $50 million expansion project in 2025, expected to boost capacity for industrial starches by 50% upon completion in 2026. Internationally, Ingredion maintains plants in countries such as Brazil, China, India, and Thailand, including the Rayong facility in Thailand operational since 1983. The company sources raw materials primarily from renewable crops, including corn from the United States and South America, tapioca from Asia, as well as wheat and potatoes. Ingredion has committed to achieving 100% sustainable sourcing for its Tier 1 priority crops—such as corn, tapioca, potato, stevia, and pulses—by the end of 2025, with 85% already met in 2024 through tools like the Field Sustainability Assessment. This focus ensures ethical and environmental standards across its supply base. Ingredion's supply chain employs vertically integrated wet-milling processes to convert starch-based materials into value-added ingredients, enabling efficient production from raw grains to finished products. support just-in-time delivery to customers in approximately 120 , facilitated by a global network that enhances responsiveness. Post-COVID, the company has built resilience through diversified supplier networks and expanded capacity investments, reducing exposure to disruptions and improving overall agility. With approximately 11,200 employees globally as of December 31, 2024, Ingredion emphasizes workforce safety, earning finalist recognition in the National Safety Council's 2024 Green Cross for Safety Awards in the Safety Excellence category for its innovative and culture of prevention.

Products and Solutions

Ingredient Categories

Ingredion's core ingredient portfolio consists of plant-based solutions categorized into starches, sweeteners, nutrition ingredients, and biomaterials, all derived from renewable sources such as corn, , , , , , and . These categories enable formulation flexibility across food, beverage, and industrial sectors while emphasizing clean-label and functional properties. Starches form the foundation of Ingredion's offerings, with both modified and native varieties sourced from corn, , and to provide , , and process tolerance in formulations. Modified starches, altered through chemical or physical processes, serve as thickeners, emulsifiers, and texturizers, enhancing and sensory attributes without compromising quality. Native starches, minimally processed for clean-label appeal, include the NOVATION® line, which delivers performance comparable to modified versions while meeting consumer preferences for simple ingredients. For instance, NOVATION® Indulge starches, derived from corn, function as co-texturizers and fat mimetics, particularly in applications requiring indulgence without added fats. Potato-based starches stand out for their neutral flavor, high clarity, strong gelling, and superior water-retention capacity, making them suitable for diverse textural needs. Sweeteners in Ingredion's portfolio range from traditional syrups to low-calorie alternatives, supporting reduction while preserving and bulk. Glucose syrups, produced via enzymatic conversion of corn or , offer moderate and ; examples include the ® and ENZOSE® series with varying dextrose equivalents (DE) for controlled functionality. (HFCS), such as INVERTOSE®, provides enhanced and ease of handling, commonly derived from corn for applications demanding high content. Through the acquisition of PureCircle, Ingredion expanded into stevia-based sweeteners, utilizing conventional to boost for zero-calorie, natural sweetening with minimal aftertaste. Allulose, marketed as ASTRAEA®, is a rare that mimics sucrose's and at 70% while contributing only 0.4 calories per gram, ideal for low-calorie formulations. Nutrition ingredients focus on health-enhancing components like plant proteins, fibers, and texturants, derived from pea, rice, and citrus to support protein fortification, digestive health, and clean-label claims. Plant proteins include VITESSENCE® pea isolates with 80-85% protein content on a dry basis, offering smooth textures and high solubility for nutrient-dense products; rice proteins are blended in offerings like Pea & Rice Isolate 1780, achieving a protein digestibility-corrected amino acid score (PDCAAS) of 1.0 for complete nutrition profiles. FIBERTEX® multi-benefit fibers, sourced from upcycled citrus peels, provide non-GMO viscosifying, gelling, and emulsion stability, enabling reduced-fat formulations with enhanced mouthfeel and shelf-life extension. Texturants, available from bases like rice, tapioca, potato, and pea, deliver customizable viscosity and binding without allergens or GMOs. Biomaterials encompass industrial-grade starches, polyols, dextrins, and bio-based polymers tailored for non-food uses, leveraging renewable feedstocks to promote sustainable alternatives in . These include modified starches from sources like and , which provide binding and film-forming properties for production, adhesives, and bioplastics development. Ingredion's solutions emphasize bio-based feedstocks for renewable chemicals, reducing reliance on petroleum-derived materials while maintaining performance standards.

Key Applications and Innovations

Ingredion's ingredients play a pivotal role in and beverage applications, particularly in enhancing and functionality for plant-based products. For instance, the company provides solutions that enable the creation of plant-based meat alternatives with improved and structure, utilizing plant-based proteins and texturants to mimic traditional meat characteristics. At the IFT FIRST 2025 event, Ingredion highlighted its Texture Equation approach, which integrates insights-driven formulation to deliver customized textures such as creamy or crispy profiles in reduced-sugar beverages, supporting sugar reduction while maintaining sensory appeal. Clean-label formulations are another key area, where functional starches and fibers from sources like corn and allow brands in , beverage, and categories to meet demands for ingredients without compromising performance. In industrial applications, Ingredion's are widely used in corrugation and adhesives to improve strength and production efficiency. Products like Starch+ Advanced Adhesives, incorporating modified starches and additives such as CORAGUM®, enhance corrugator run speeds, reduce waste, and minimize chemical usage in . Additionally, these starches serve as biomaterials for , including barrier coatings like FILMKOTE™ that provide oil and grease resistance without fluorochemicals, promoting lighter and more eco-friendly food service materials. In personal care, NATIVACARE™ natural starches derived from non-GMO corn, , and are employed in creams, lotions, makeup powders, and dry shampoos for their absorbent and smoothing properties. Ingredion's innovations emphasize plant-protein blends designed to achieve consumer-preferred taste and texture in high-protein formulations, such as ready-to-mix beverages with smooth and reduced off-flavors from sources like . The HOMECRAFT® rice flours offer gluten-free, clean-label alternatives that provide starch-like process tolerance and shelf-life stability, suitable for soups, sauces, snacks, and dairy-free products while replacing fats for cost efficiency. efforts are supported by global centers, including the Idea Labs® innovation hub in Singapore's Biopolis, which focuses on applications, and facilities in contributing to regional product development. Addressing market trends, Ingredion's solutions facilitate claims through enrichment, using soluble and insoluble fibers to support digestive in fortified foods and beverages. The company also engages with exotic sources like starch for texturizers such as PRECISA® Crisp, which enable customized textures in baked snacks and align with demands for sustainable, non-GMO ingredients. In November 2025, Ingredion announced a with biotech startup Cosaic to commercialize Cosaic , a yeast-derived that delivers dairy-like creaminess and stability in animal-free products such as beverages, sauces, and meal replacements, expanding options for sustainable formulations. These advancements reflect broader shifts toward functional and clean-label preferences, as demonstrated in sugar reduction strategies that achieve taste parity with full-sugar products.

Leadership and Governance

Executive Leadership

James P. Zallie serves as and of Ingredion, a position he has held since January 2018, and he was elected to the in September 2017. In November 2025, the board waived the company's mandatory retirement policy at age 65, enabling Zallie to extend his tenure beyond April 2026 and ensuring continued leadership stability. Prior to his CEO role, Zallie held senior positions at Ingredion, including executive vice president of global specialties and president of the Americas, as well as oversight of operations in and , , and . James D. Gray is vice president and , a role he assumed in 2017 after joining Ingredion in 2014. Gray directs the company's financial strategy, including the reporting of third-quarter 2025 results, which highlighted record operating performance amid global market challenges. Other key members of the executive team include Larry Fernandes, senior and chief commercial and officer, who manages global initiatives and efforts; Nancy Wolfe, senior and chief human resources officer since 2022, overseeing the global HR function; Valdirene Bastos Evans, senior and president of , also serving as global head of pharma, , and solutions; Patrick Kalotis, of global texture and healthful solutions, appointed effective December 1, 2025, to lead strategy and performance in that segment; and Tanya Jaeger de Foras, senior , chief legal officer, corporate secretary, and chief compliance officer. The team exhibits diversity in gender, ethnicity, and professional backgrounds, with expertise spanning , , financial , and global markets. The average tenure among management executives stands at approximately 7.3 years as of late 2025, supporting Ingredion's strategic objectives in specialty ingredients and sustainable growth.

Ingredion Incorporated's consists of 11 members, with 10 independent directors excluding President and CEO James P. Zallie, in accordance with listing standards. The board is led by non-executive Chairman Gregory B. , who brings extensive in financial and operational from his prior role as CEO of Corporation. The composition reflects diverse expertise across finance, , and the , with four female directors—Rhonda L. Jordan, Victoria J. Reich, Catherine A. Suever, and Patricia Verduin—contributing to a balanced perspective on global business challenges. Key independent directors include Patricia Verduin, former Chief Technology Officer at Colgate-Palmolive Company, whose background in research, development, and sustainability informs innovation strategies in consumer goods. David B. Fischer, ex-CEO of Greif, Inc., provides insights into manufacturing and supply chain management. Rhonda L. Jordan, former President of Global Dairy at Kraft Foods Group, Inc., offers specialized knowledge in food marketing and sustainability practices. The board's financial acumen is strengthened by members like Victoria J. Reich, Chair of the Audit Committee and former CFO of Essendant Inc., alongside Catherine A. Suever, ex-CFO of Parker-Hannifin Corporation. Other notable members encompass Charles V. Magro, CEO of Corteva Agriscience, for agricultural and innovation perspectives; Stephan B. Tanda, CEO of AptarGroup, Inc., for global operations; Jorge A. Uribe, former officer at Procter & Gamble, for international food sector experience; and Dwayne A. Wilson, ex-VP at Fluor Corporation, for engineering and project management. Governance practices emphasize accountability and oversight, with all directors standing for annual under a standard. The board operates through key committees, including the (chaired by , focusing on financial reporting and risk); the People, Culture, and Compensation Committee (overseeing executive pay and talent development); and the and Nominating Committee (handling director nominations, governance policies, and matters). oversight is integrated via the and Nominating Committee, which monitors initiatives, aligning them with long-term strategic goals. In 2025, the board waived its policy for CEO James P. Zallie to ensure continuity beyond age 65, citing his pivotal role in driving growth. This decision supports the board's focus on strategic priorities outlined at Ingredion's 2025 Investor Day, where emphasis was placed on expanding as a global solutions provider in ingredients and texture innovation.

Sustainability and Impact

Environmental and Social Initiatives

Ingredion has established key environmental goals to address and resource within its operations and . The company targets a 25% reduction in absolute (GHG) emissions by 2030, measured against a 2019 baseline, encompassing Scope 1 and Scope 2 emissions across its global facilities. Additionally, Ingredion commits to 100% sustainable sourcing of its priority crops—such as corn and —by the end of 2025, with an overall goal of 99% sustainable sourcing for all global crops by the same year. To tackle , the firm implements programs focused on high-stress areas, aiming to execute projects that deliver measurable reductions in use intensity by 2030. Progress toward these environmental objectives has been notable, as detailed in Ingredion's 2024 Sustainability Report released in 2025. The company achieved a 22% absolute reduction in carbon emissions since the 2019 baseline and surpassed 85% sustainable sourcing for crops. In , Ingredion has expanded partnerships, including collaborations with and Ag Solutions to promote low-carbon farming practices among growers, contributing to enhanced and in sourcing regions. These efforts align with broader integration, where sustainable practices are embedded in procurement processes. On the social front, Ingredion prioritizes (DEI) through targeted initiatives. A core goal is to reach global at the manager level and above by 2030, alongside achieving 38% representation of , , and People of Color (BIPOC) in those roles. The company conducts ethical audits via its All Responsible Sourcing Program, which emphasizes transparent practices to improve labor conditions and for suppliers. Community programs support sourcing regions, such as the partnership with in for low-carbon corn farming that benefits local farmers through training and economic opportunities. Despite these advancements, Ingredion faces challenges in balancing with operational realities, particularly trade-offs between the higher costs of eco-friendly sourcing and overall business impact. The company evaluates initiatives based on cost-versus-impact analyses to ensure scalability without compromising financial viability.

Awards and Recognitions

Ingredion has garnered significant external recognition for its corporate reputation, ethical standards, and workplace excellence through 2025. These accolades underscore the company's leadership in the food and agriculture sector, highlighting its sustained commitment to , integrity, and employee well-being. In 2025, Ingredion secured its 15th consecutive listing on Fortune's World's Most Admired Companies, ranking prominently in the food production sector based on evaluations of quality of management, , and . That same year, the company was honored by Ethisphere as one of the World's Most Ethical Companies for the 11th time, standing out as one of only nine recipients in the food, beverage, and agriculture industry; the award evaluates ethical business practices, with particular emphasis on programs and ethics. Ingredion also earned Top Employer certifications from the Top Employers Institute in 2025 across multiple regions, recognizing superior strategies that foster employee development, engagement, and work-life balance. Specifically, the company received the award in and for the fifth consecutive year, alongside new or continued recognitions in , , , and the . Among other distinctions, Ingredion's Ultra Performance line of plant-based protein solutions won the Best Plant-Based Sustainability Award at the 2022 World Plant-Based Awards, celebrating advancements in sustainable protein innovation. Additionally, in 2024, the company was selected as a finalist for the National Safety Council's Green Cross for Safety Awards in the Safety Excellence category, which honors organizations demonstrating innovative safety cultures and proven risk prevention.

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