Global Food Processing Ingredient Market Projected To Reach $71.54 Billion By 2030

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Dec. 15, 2022 /PRNewswire/ -- There has been an increasing demand for processed food items in today's world. The processing of food involves a change from one type to another. The food process principally consists of three varieties, primary, secondary, and tertiary food process, Primary food process involves the process of food to create it edible. The secondary process involves processing the ingredients into acquainted foods like bread, whereas the tertiary food process involves obesity-based products for an instance containing high sugar or low fibers. With the assistance of assorted food process ingredients, the demand for processed foods is projected to grow for the next several years. A report from Verified Market Research projected that the Food Processing Ingredient Market size, which was valued at USD 46.47 Billion in 2021 is projected to reach USD 71.54 Billion by 2030, growing at a CAGR of 4.91% from 2022 to 2030. The report said: "Food process ingredients add parts to meals to elongate the period or to extend the nutritional quality of the food by adding vitamins and minerals. It keeps the style, texture, thickness, and color of foods safe. The marketplace for food process ingredients is being driven by the speedy rise in demand for processed foods among customers everywhere on the planet. Food process ingredients additionally provide extra health advantages, that is expected to own a considerable impact on food process ingredients. The rising beverage consumption in developed countries is predicted to have a major impact on the Food Processing Ingredient Market."  Active Companies in the markets today include AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), ADM (NYSE:ADM), Conagra Brands, Inc. (NYSE: CAG), Tyson Foods, Inc. (NYSE: TSN), McCormick & Company, Incorporated (NYSE: MKC).

"Global market revenue growth is expected to be majorly driven by… preference for healthy merchandise. Business analysis is indicative that rising preference for the superior quality of food products and raising awareness concerning the advantages of processed foods are alternative key factors expected to drive market growth. Food process ingredients change flavor improvement of foods and beverages, at the same time maintaining the nutritionary of food and beverages. There has been an increasing demand for processed food things in today's world.  The bakery and confectionery category accounted for the greatest revenue share in the Global Food Processing Ingredient Market among application categories. To address the growing demand for high-quality food, major corporations are investing in the development of creative products that use high-quality ingredients."

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) BREAKING NEWS:  AgriFORCE Announces Successful Production Trial and Begins Commercialization of UN(THINK) Awakened Flour -  The "better for you" flour leverages a patent-pending process to produce a tastier, more nutritious, easier-to-digest product and is now launching in Canada and the U.S.  -  AgriFORCE Growing Systems Ltd. ("the Company"), an intellectual property (IP)-focused AgTech company dedicated to advancing sustainable cultivation and crop processing across multiple platforms, has today announced the commercialization of UN(THINK) Awakened Flour following the successful completion of the scaled up batch trial. Commercialization will follow at the beginning of 2023 and focus on bakeries in Canada and the USA, followed by a direct-to-consumer launch.

As announced earlier this year, Awakened Flour is a "better for you" flour that uses a 100% natural patent-pending process to create a gently germinated flour that is more nutritious, easier to digest, and better tasting with 2 times the protein of regular wheat flour¹. AgriFORCE's highly precise sprouting process increases the bioavailability of vitamins and minerals, allowing them to be absorbed by the body, while changing the total amount of fiber in whole grains, helping to improve gut health.

Production is currently based in Saskatoon, Saskatchewan, Canada, one of the world's best and largest grain producing regions. UN(THINK) Foods has secured strategic partnerships with local non-GMO suppliers and specialty milling partners who bring their expertise and care to the products.

"UN(THINK)'s Awakened Flour has the ability to become the gold standard of sprouted flour," commented Hernando Ruiz-Jimenez, UN(THINK) Food Co.'s General Manager. "Consumers are eager for products that offer enhanced nutritional value and better digestion, and no product currently on the market matches Awakened Flour's nutritional and flavor profile. We're thrilled to have the opportunity to begin our relationship with bakeries, restaurants and other B2B customers throughout North America."  CONTINUED…  Read this full release for AgriFORCE Growing Systems at:  https://ir.agriforcegs.com/ 

Other recent developments in the markets include:

ADM (NYSE:ADM) recently announced that it has won the Environmental Initiatives category of the 2022 SEAL Business Sustainability Awards for expanding its regenerative agriculture programs supporting farmers across North America. Granted by a judging panel of renowned environmental and energy industry experts, the award recognizes exceptional programs or initiatives that push the frontier on environmental leadership and progress.

ADM's project, "Providing Economic and Sustainable Solutions Through Regenerative Agriculture," expands on ADM's long-term commitment to support growers in their transition to regenerative agriculture. In 2022, ADM launched a number of projects and partnerships, including with the National Fish and Wildlife Foundation (NFWF), US Department of Agriculture, PepsiCo, and the Farmers Business Network, that equip North American farmers with financial, technical and educational resources to support regenerative farming. This work builds on years of progress ADM has made in supporting farmers in their transition to regenerative agriculture.

Conagra Brands, Inc. (NYSE: CAG) recently announced that it will host a webcast and conference call to review its fiscal 2023 second quarter results on Thursday, January 5, 2023, at 9:30 a.m. ET. The company's news release will be issued at approximately 7:30 a.m. ET.

The live audio webcast and presentation slides will be available on conagrabrands.com/investor-relations under Events & Presentations. The conference call may be accessed by dialing 1-877-883-0383 for participants in the U.S. and 1-412-902-6506 for all other participants and using passcode 8026468. Please dial in 10 to 15 minutes prior to the call start time. Following the company's remarks, the conference call will include a question-and-answer session with the investment community.

A replay of the webcast will be available until January 5, 2024.

Tyson Foods, Inc. (NYSE: TSN), one of the world's largest food companies and a recognized leader in protein with leading brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair, recently delivered record annual sales and earnings performance.

Fiscal 2022 Highlights Were: GAAP EPS of $8.92, up 7% from prior year; Adjusted EPS of $8.73, up 5% from prior year; GAAP operating income of $4,410 million, up slightly from prior year; Adjusted operating income of $4,414 million, up 3% from prior year; Total Company GAAP operating margin and adjusted operating margin of 8.3%; Repurchased 8.2 million shares for $702 million; and Reduced total debt by approximately $1 billion.

"We delivered record sales and earnings for the full year, which was supported by our diverse portfolio and continued strength in consumer demand for protein," said Donnie King, president and CEO of Tyson Foods. "Our results were supported by historically strong operations in our Beef segment and improved performance in our Chicken segment. We also experienced share gains in both our foodservice Focus 6 categories and retail core business lines, which include our Tyson, Jimmy Dean, Hillshire Farm and Ball Park iconic brands."

The Board of Directors of McCormick & Company, Incorporated (NYSE: MKC) recently declared an increase in the quarterly dividend from $0.37 to $0.39 per share on its common stocks, payable January 9, 2023 to shareholders of record December 30, 2022. This marks the 37th consecutive year that the Company has increased its quarterly dividend.

Lawrence E. Kurzius, Chairman & CEO, said "Our proven strategies are designed to drive long-term profitable growth and build value for our shareholders. We are proud to be a Dividend Aristocrat and remain committed to our long history of returning cash to shareholders. I am pleased to announce another dividend increase."

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