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Company > Ingredion: Business Model, SWOT Analysis, and Competitors 2023

Ingredion: Business Model, SWOT Analysis, and Competitors 2023

Published: Jan 21, 2023

Inside This Article


    Ingredion is a global leader in ingredient solutions, providing a wide range of starches, sweeteners, and nutrition ingredients to various industries. With a strong business model built on innovation and customer-centricity, Ingredion has successfully positioned itself as a key player in the market. In this blog article, we will delve into Ingredion's business model, conduct a comprehensive SWOT analysis to assess its strengths, weaknesses, opportunities, and threats, and explore its main competitors in the year 2023.

    What You Will Learn:

    • Who owns Ingredion and the significance of understanding the ownership structure of a company.
    • The mission statement of Ingredion and how it guides its operations and decision-making.
    • How Ingredion generates revenue and the key components of its business model.
    • The importance of conducting a SWOT analysis for Ingredion and an overview of its strengths, weaknesses, opportunities, and threats.
    • The major competitors of Ingredion and the implications of their presence in the market.

    Who owns Ingredion?

    Ingredion's Ownership Structure

    Ingredion Incorporated, a leading global ingredient solutions provider, has a diverse ownership structure. The company is a publicly traded entity, listed on the New York Stock Exchange (NYSE) under the ticker symbol "INGR." This means that Ingredion's ownership is distributed among various shareholders who hold shares of the company's common stock.

    As of [current year], the largest shareholders of Ingredion include institutional investors such as mutual funds, pension funds, and asset management firms. These institutional investors often hold significant stakes in the company, contributing to its stability and financial growth.

    Moreover, Ingredion's ownership includes individual shareholders who have invested in the company's stock. These shareholders can range from retail investors to high-net-worth individuals who believe in the potential of Ingredion's business and growth prospects.

    In addition to the public ownership, Ingredion's management team, led by the Chief Executive Officer and the Board of Directors, also holds a portion of the company's shares. This aligns their interests with those of the shareholders, fostering a sense of responsibility and accountability towards the company's performance and long-term success.

    It is important to note that Ingredion's ownership structure may change over time due to various factors such as stock buybacks, new share issuances, and changes in institutional holdings. These changes can impact the ownership distribution and influence the decision-making within the company.

    As a publicly traded company, Ingredion's ownership extends beyond a single entity or individual. It is a collective ownership shared by a diverse group of stakeholders who believe in the company's mission, values, and future prospects.

    What is the mission statement of Ingredion?

    The Mission Statement of Ingredion: Empowering Better

    Ingredion's mission statement is centered around "Empowering Better." As a global ingredient solutions provider, Ingredion is committed to empowering its customers, consumers, employees, and communities to achieve their full potential and create a positive impact.

    Fostering Innovation and Collaboration

    Ingredion's mission statement revolves around fostering innovation and collaboration. The company aims to develop and deliver innovative ingredient solutions that meet the ever-evolving needs of its customers and consumers. By leveraging its deep expertise in food and beverage, brewing, pharmaceuticals, and other industries, Ingredion strives to create value-added solutions that drive growth and improve product performance.

    Nurturing Sustainable Practices

    Another key aspect of Ingredion's mission statement is its commitment to nurturing sustainable practices. The company acknowledges the importance of sustainable sourcing, manufacturing, and operations to protect the environment and support the well-being of communities. Ingredion actively works towards reducing its carbon footprint, conserving water resources, and minimizing waste generation throughout its value chain. By promoting sustainability, Ingredion aims to contribute to a better and more sustainable future for all.

    Empowering Employees and Communities

    Ingredion's mission statement also emphasizes the empowerment of its employees and communities. The company strives to provide a safe and inclusive work environment where employees are encouraged to grow, learn, and excel. Ingredion recognizes that its employees are critical to its success and actively invests in their development and well-being. Additionally, the company is committed to positively impacting the communities where it operates by supporting local initiatives, promoting diversity and inclusion, and fostering strong community relationships.

    Delivering Superior Customer Experience

    The final component of Ingredion's mission statement is delivering a superior customer experience. Ingredion aims to be a trusted partner to its customers by providing exceptional service, quality products, and technical expertise. The company collaborates closely with its customers to understand their unique challenges and goals, and then offers tailored ingredient solutions to help them succeed. Ingredion's commitment to customer satisfaction is a cornerstone of its mission and drives its continuous improvement efforts.

    In summary, Ingredion's mission statement "Empowering Better" encompasses its dedication to fostering innovation, nurturing sustainable practices, empowering employees and communities, and delivering a superior customer experience. By living up to this mission, Ingredion strives to make a positive impact on the world while driving its own growth and success.

    How does Ingredion make money?

    Revenue Streams

    Ingredion generates its revenue through various streams, primarily focusing on the production and sale of ingredient solutions for the food and beverage industry. The company operates in four key segments:

    1. North America

    Ingredion's largest revenue-generating segment is North America, where it offers a wide range of starches, sweeteners, and nutrition ingredients to food and beverage manufacturers. These ingredients are utilized in the production of various products, such as bakery items, confectionery, dairy products, and beverages. By catering to the diverse needs of its customers in this region, Ingredion has established itself as a leading provider of innovative and sustainable ingredient solutions.

    2. South America

    The South American segment of Ingredion's business contributes significantly to its overall revenue. In this region, the company offers a diverse portfolio of ingredients, including starches, sweeteners, and texturizers. These ingredients are used in the production of a wide range of food and beverage products, catering to the preferences and tastes of consumers across South America.

    3. Asia Pacific

    Ingredion has also established a strong presence in the Asia Pacific region, which serves as a key revenue driver for the company. By leveraging its expertise in ingredient solutions, Ingredion caters to the unique demands of the Asian market. The company provides starches, sweeteners, and functional ingredients to food and beverage manufacturers, enabling them to develop products that meet the evolving needs of Asian consumers.

    4. Europe, Middle East, and Africa (EMEA)

    The EMEA segment of Ingredion's business encompasses Europe, the Middle East, and Africa, where the company offers a diverse range of ingredient solutions. Through its innovative portfolio of starches, sweeteners, and texturizers, Ingredion assists food and beverage manufacturers in creating products that align with the preferences and regulations of the local markets in this region.

    Other Revenue Sources

    In addition to its core business segments, Ingredion also generates revenue through other avenues:

    1. Value-Added Co-Products

    Ingredion maximizes the value of its raw materials by transforming them into co-products, such as animal feed and industrial starches. This allows the company to optimize its resource utilization and generate additional revenue streams.

    2. Specialty Ingredients

    Ingredion offers a range of specialty ingredients, including hydrocolloids, emulsifiers, and plant-based proteins. These ingredients cater to specific needs in various industries, such as personal care, pharmaceuticals, and paper. By diversifying its product offerings, Ingredion taps into different markets and expands its revenue sources beyond the food and beverage industry.

    In summary, Ingredion generates its revenue primarily through the production and sale of ingredient solutions for the food and beverage industry. The company's revenue streams are diversified across different geographical regions, enabling it to serve a global customer base. Additionally, Ingredion leverages value-added co-products and specialty ingredients to further enhance its revenue generation capabilities.

    Ingredion Business Model Canvas Explained

    What is the Business Model Canvas?

    The Business Model Canvas is a strategic management tool that helps organizations analyze and describe their business models in a simple and visual way. It provides a framework for understanding the key components and relationships that drive a company's success. The canvas consists of nine building blocks that cover all aspects of a business, from its value proposition to its revenue streams.

    Understanding Ingredion's Business Model Canvas

    Ingredion, a leading global ingredient solutions provider, has a well-defined business model that enables the company to create value for its customers and stakeholders. Let's dive into each building block of Ingredion's Business Model Canvas and explore how it contributes to the company's overall success.

    Customer Segments

    Ingredion serves a wide range of industries, including food and beverage, animal nutrition, brewing, and pharmaceuticals. The company's customer segments can be categorized into two main groups: business-to-business (B2B) customers and business-to-consumer (B2C) customers. B2B customers include food manufacturers, while B2C customers include end consumers who purchase products containing Ingredion's ingredients.

    Value Proposition

    Ingredion's value proposition lies in its ability to provide innovative ingredient solutions that meet the specific needs of its customers. The company focuses on delivering functional, nutritional, and sustainable ingredients that enhance the taste, texture, and overall quality of food and beverage products. By offering a wide range of solutions, Ingredion helps its customers differentiate their products and stay competitive in the market.


    Ingredion utilizes a multi-channel distribution strategy to reach its customers effectively. The company leverages a combination of direct sales, partnerships with distributors, and online platforms to distribute its products. This approach ensures that Ingredion's ingredients are readily available to its customers, regardless of their location or preferred purchasing method.

    Customer Relationships

    Ingredion places great emphasis on building strong and long-lasting relationships with its customers. The company achieves this by providing exceptional customer service, technical support, and product training. Ingredion's customer relationship management (CRM) system enables the company to understand its customers' needs and preferences better, allowing for personalized interactions and tailored solutions.

    Revenue Streams

    Ingredion generates revenue through the sale of its ingredient products and related services. The company offers a diverse portfolio of ingredients, including starches, sweeteners, proteins, fibers, and more. Additionally, Ingredion provides value-added services such as formulation support, sensory analysis, and regulatory guidance. These revenue streams contribute to the company's overall financial performance and growth.

    Key Resources

    Ingredion's key resources include its research and development capabilities, manufacturing facilities, and supply chain network. The company invests heavily in R&D to create innovative ingredient solutions that address market trends and customer demands. Ingredion's manufacturing facilities ensure efficient production and quality control, while its extensive supply chain network enables timely delivery of ingredients to customers worldwide.

    Key Activities

    Ingredion's key activities revolve around product development, manufacturing, and distribution. The company continuously develops new ingredient solutions and improves existing ones to meet evolving customer needs. Ingredion's manufacturing operations focus on producing high-quality ingredients at scale, while its distribution activities ensure that products reach customers on time and in optimal condition.

    Key Partnerships

    Ingredion collaborates with various partners to enhance its business model and create mutual value. The company forms strategic partnerships with suppliers to ensure a reliable and sustainable supply of raw materials. Ingredion also works closely with customers to co-create innovative solutions and develop new products. Additionally, the company engages in research collaborations with academic institutions and industry associations to stay at the forefront of ingredient science and technology.

    Cost Structure

    Ingredion's cost structure consists of several components, including raw material procurement, manufacturing expenses, research and development investments, sales and marketing activities, and overhead costs. The company strives to optimize its cost structure by implementing efficient processes, leveraging economies of scale, and driving continuous improvement initiatives.


    Ingredion's Business Model Canvas provides a comprehensive view of the company's strategic approach to delivering value to its customers and stakeholders. By understanding each building block and the interrelationships between them, we can gain insights into how Ingredion operates and differentiates itself in the ingredient solutions market. This analysis highlights the importance of innovation, customer focus, and strong partnerships in driving the success of Ingredion's business model.

    Which companies are the competitors of Ingredion?


    When analyzing a company's competitive landscape, it is essential to identify its competitors. In the case of Ingredion, a leading global provider of ingredient solutions for the food and beverage industry, there are several key players that pose as competitors in the market. These companies compete with Ingredion by offering similar products, targeting the same customer base, and striving to gain a larger market share. Let's explore some of the main competitors of Ingredion below.

    Archer Daniels Midland Company

    Archer Daniels Midland Company (ADM) is one of the largest agricultural processors and food ingredient providers globally. With a broad range of products including starches, sweeteners, proteins, and oils, ADM competes directly with Ingredion in the ingredient solutions space. Both companies strive to meet the evolving demands of the food and beverage industry by offering innovative and sustainable solutions.

    Cargill, Incorporated

    Cargill, Incorporated, a privately held global corporation, is another major competitor of Ingredion. Cargill operates across multiple industries, including agriculture, food, and financial services. In the food ingredient segment, Cargill offers a wide array of products, such as starches, sweeteners, and texturizers, which directly compete with Ingredion's product portfolio. Both companies aim to provide high-quality ingredients to their customers and maintain strong relationships with food and beverage manufacturers.

    Tate & Lyle PLC

    Tate & Lyle PLC is a British multinational agribusiness and food ingredient company. With a focus on providing specialty food ingredients, including sweeteners, fibers, and stabilizers, Tate & Lyle competes with Ingredion in the global market. Both companies emphasize innovation and sustainability to meet the changing consumer preferences and industry trends.

    Roquette Frères

    Roquette Frères is a global leader in plant-based ingredients and a significant competitor for Ingredion. The company offers a diverse range of products, including starches, proteins, fibers, and sweeteners, catering to various industries, including food, nutrition, and health. Roquette Frères' commitment to sustainability and its broad product portfolio make it a formidable competitor for Ingredion.


    Ingredion faces competition from several prominent players in the food ingredient industry. Archer Daniels Midland Company, Cargill, Incorporated, Tate & Lyle PLC, and Roquette Frères are just a few examples of companies that compete with Ingredion by offering similar ingredient solutions. As the market continues to evolve, these competitors strive to meet the changing demands of customers, driving innovation, and sustainability in the food and beverage industry.

    Ingredion SWOT Analysis


    • Strong market position: Ingredion is a leading global provider of ingredient solutions for the food and beverage industry. With a presence in over 120 countries, the company has established a strong market position and enjoys a wide customer base.

    • Diversified product portfolio: Ingredion offers a wide range of ingredients such as starches, sweeteners, and nutrition ingredients. This diversified product portfolio allows the company to cater to various customer needs and adapt to changing market trends.

    • Technological expertise: The company has a strong focus on research and development, investing in innovative technologies to develop new and improved ingredient solutions. This technological expertise gives Ingredion a competitive edge and enhances its ability to meet customer demands.


    • Dependence on commodity prices: Ingredion's business is impacted by changes in commodity prices, particularly corn, which is a key raw material for many of its products. Fluctuations in commodity prices can affect the company's profitability and margins.

    • Reliance on a limited number of customers: Despite having a wide customer base, Ingredion is dependent on a few major customers for a significant portion of its revenue. This concentration of customers poses a risk to the company's financial stability if it were to lose any of these key accounts.

    • Limited geographic diversification: While Ingredion has a global presence, a significant portion of its revenue is generated in North America. This lack of geographic diversification exposes the company to regional economic fluctuations and regulatory changes.


    • Growing demand for clean label and natural ingredients: As consumers increasingly seek healthier and more natural food options, there is a growing demand for clean label and natural ingredients. Ingredion can capitalize on this trend by developing and offering innovative clean label solutions that meet consumer preferences.

    • Expansion into emerging markets: Ingredion has an opportunity to expand its presence in emerging markets where there is a growing middle class and increasing consumer spending on packaged food products. By establishing partnerships and local production facilities, the company can tap into these markets and achieve long-term growth.

    • Strategic acquisitions and partnerships: Ingredion can explore strategic acquisitions and partnerships to expand its product portfolio, enter new markets, or enhance its technological capabilities. This can help the company stay ahead of the competition and capture new growth opportunities.


    • Intense competition: The food and beverage ingredient industry is highly competitive, with numerous players offering similar products. Ingredion faces competition from both large multinational companies and smaller regional players. This intense competition can put pressure on pricing and margins.

    • Changing consumer preferences and regulations: Consumer preferences and regulations related to food ingredients are constantly evolving. Ingredion needs to stay up-to-date with these changes and ensure its product offerings comply with the latest requirements. Failure to do so can lead to a loss of market share and reputation.

    • Volatility in raw material prices: The prices of key raw materials, such as corn and wheat, are subject to volatility due to factors like weather conditions, global supply and demand, and geopolitical events. Fluctuations in raw material prices can impact Ingredion's costs and profitability.

    Key Takeaways

    • Ingredion is a publicly traded company, meaning it is owned by its shareholders who can buy and sell its stock on the stock market.
    • The mission statement of Ingredion is to be a leading global ingredient solutions provider, offering innovative, sustainable, and value-added products to customers in various industries.
    • Ingredion primarily makes money through the sale of its ingredient solutions, which are used by food and beverage manufacturers, as well as other industries such as personal care, pharmaceuticals, and animal nutrition.
    • The Business Model Canvas is a strategic tool that helps explain how Ingredion creates, delivers, and captures value. It covers key aspects such as customer segments, value proposition, channels, customer relationships, revenue streams, key activities, key resources, key partnerships, and cost structure.
    • Some of Ingredion's competitors include companies like Cargill, Archer Daniels Midland (ADM), Tate & Lyle, and DuPont, who also offer ingredient solutions to various industries.
    • In terms of a SWOT analysis, Ingredion's strengths include its global presence, extensive product portfolio, and strong customer relationships. Its weaknesses may include dependence on commodity prices and potential regulatory challenges. Opportunities for Ingredion may arise from emerging markets and growing demand for clean label and healthy products, while threats could come from intense competition and changing consumer preferences.


    In conclusion, Ingredion is a leading global ingredient solutions provider with a diverse customer base. As for ownership, Ingredion is a publicly traded company, meaning it is owned by shareholders who hold its stock. The mission statement of Ingredion is to be a valued partner to their customers by creating valuable solutions that deliver on their needs and drive growth.

    Ingredion primarily makes money by providing ingredient solutions to various industries such as food and beverage, animal nutrition, pharmaceuticals, and more. They offer a wide range of products and services to meet the unique needs of their customers, which generates revenue for the company.

    The Ingredion Business Model Canvas is a useful tool for understanding how the company creates, delivers, and captures value. It outlines the key components of their business model, including customer segments, value proposition, channels, customer relationships, revenue streams, key activities, key resources, key partners, and cost structure. This canvas helps to provide a holistic view of how Ingredion operates and generates value in the market.

    Ingredion faces competition from several companies in the ingredient solutions industry. Some of its major competitors include Cargill, Archer Daniels Midland (ADM), Tate & Lyle, and Kerry Group. These companies also offer a range of ingredients and solutions to various industries, creating a competitive landscape for Ingredion.

    Lastly, conducting a SWOT analysis of Ingredion reveals the company's strengths, weaknesses, opportunities, and threats. Ingredion's strengths include its global footprint, strong customer relationships, and diverse product portfolio. However, weaknesses such as dependence on commodity prices and potential regulatory challenges exist. Opportunities lie in emerging markets, product innovation, and sustainability initiatives. Meanwhile, threats include intense competition, changing consumer preferences, and economic fluctuations.

    Overall, Ingredion is a well-established company with a clear mission and successful business model. However, it must continuously adapt to industry trends, differentiate itself from competitors, and seize opportunities to remain a leader in the ingredient solutions market.


    What are the 5 elements of SWOT analysis?

    The five elements of SWOT analysis are:

    1. Strengths: These are the internal characteristics or resources that give an organization an advantage over others. It includes aspects such as a strong brand, skilled workforce, good reputation, or unique products/services.

    2. Weaknesses: These are the internal factors that put an organization at a disadvantage compared to its competitors. It involves areas that need improvement, such as outdated technology, low employee morale, or limited financial resources.

    3. Opportunities: These are the external factors or situations that could benefit an organization if properly utilized. It includes emerging markets, technological advancements, changing consumer preferences, or new partnerships.

    4. Threats: These are the external factors or situations that could negatively impact an organization's performance. It includes factors such as intense competition, economic downturns, changing regulations, or disruptive technologies.

    5. Trends: This element is sometimes added as an additional component to SWOT analysis. It involves identifying and analyzing the current and future trends in the industry that could impact the organization positively or negatively. This can include social, economic, technological, or environmental trends.

    What are examples of opportunities in SWOT analysis?

    Some examples of opportunities in a SWOT analysis include:

    1. Emerging markets: Expanding into new, untapped markets can present significant growth opportunities for a company.

    2. Technological advancements: Utilizing new technologies can help businesses streamline operations, improve efficiency, and gain a competitive edge.

    3. Strategic partnerships: Collaborating with other businesses or forming alliances can provide access to new markets, resources, and expertise.

    4. Changing consumer trends: Identifying and adapting to evolving consumer preferences can open up opportunities for product innovation or market expansion.

    5. Government policies and regulations: Changes in regulations or government initiatives can create opportunities for businesses to enter new industries or receive incentives.

    6. Economic trends: Positive economic indicators, such as low interest rates or increasing consumer spending, can present opportunities for business growth.

    7. Mergers and acquisitions: Acquiring or merging with other companies can strengthen market position, diversify product offerings, or expand geographical reach.

    8. Growing demand: Identifying increasing demand for specific products or services can allow companies to tailor their offerings to meet customer needs.

    9. Market gaps: Identifying underserved or unmet customer needs can enable businesses to develop new products or services that fill those gaps.

    10. Globalization: Expanding operations internationally can bring opportunities for new customers, partnerships, and cost efficiencies.

    What are examples of opportunities and threats?

    Opportunities and threats are external factors that can impact an individual, business, or organization. Some examples of opportunities and threats include:


    1. Emerging markets: Expansion into growing markets like China, India, or Brazil.
    2. Technological advancements: Utilizing new technologies to improve efficiency and create innovative products or services.
    3. Changing consumer preferences: Identifying and adapting to new trends in consumer demands and preferences.
    4. Strategic partnerships: Collaborating with other businesses to access new markets, resources, or expertise.
    5. Government support: Taking advantage of government incentives, subsidies, or policies that favor certain industries.


    1. Economic downturn: A recession or financial crisis that can lead to decreased consumer spending and reduced business activity.
    2. Competitive rivalry: The presence of strong competitors that can impact market share and profitability.
    3. Changing regulations: New laws or regulations that can increase operating costs or restrict certain business practices.
    4. Technological disruption: New technologies that can render current products or services obsolete.
    5. Natural disasters: Events like hurricanes, earthquakes, or floods that can damage infrastructure, disrupt supply chains, and impact business operations.

    Why is conducting a SWOT analysis important?

    Conducting a SWOT analysis is important for several reasons:

    1. Strategic planning: A SWOT analysis helps organizations identify their internal strengths and weaknesses, as well as external opportunities and threats. This information is crucial for developing effective strategies and making informed decisions about the future direction of the organization.

    2. Competitor analysis: By conducting a SWOT analysis, organizations can gain insights into their competitors' strengths and weaknesses. This information can be used to identify areas where they have a competitive advantage and areas where they need to improve in order to stay ahead in the market.

    3. Risk assessment: A SWOT analysis helps organizations identify potential risks and threats in the external environment. By understanding these risks, organizations can develop contingency plans and mitigate potential threats to their business.

    4. Resource allocation: A SWOT analysis helps organizations identify their internal resources and capabilities. This information can be used to allocate resources effectively and efficiently, ensuring that they are utilized in areas that provide the most value and align with the organization's strategic objectives.

    5. Decision-making: The insights gained from a SWOT analysis can inform decision-making at various levels of the organization. Whether it's deciding on new product development, entering new markets, or allocating resources, a SWOT analysis provides a structured framework for making well-informed decisions.

    Overall, conducting a SWOT analysis allows organizations to assess their current position, understand their competitive landscape, and make strategic decisions that maximize their strengths, minimize weaknesses, capitalize on opportunities, and mitigate threats.

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