IFF launches new vital gluten replacer, registers mixed Q1 results to high inflation and soft demand
USA- New York-based International Flavors & Fragrances (IFF) recently announced the launch of the Enovera 2000 range in Europe, the latest addition to its comprehensive range of market-leading solutions for the bakery industry.
The enzymatic dough strengthener, Enovera 2000, is a vital gluten replacer, especially suitable in whole wheat bread baking.
According to IFF, the new ingredient can replace up to 50% of vital gluten in whole wheat bread, allowing operational cost reductions without quality or volume trade-offs.
“Managing productivity and protecting cost margins is key for bakeries in Europe right now. Enovera 2000 range is a true industry breakthrough; it reduces up to 50%of vital gluten and brings functional equivalence to traditional emulsifiers – handling process variances and overdosing, as well as whole wheat applications,” Aurelie Gammelin, global product manager for the bakery section at IFF, commented.
The dough strengtheners in this range deliver dependability throughout production and provide superior finished product quality for whole wheat bread in comparison to existing alternatives in the market.
Thus enzymatic innovation performs equivalently or better than traditional emulsifiers and with a reduced dependence on aids used to compensate for inconsistencies.
“The solution…performs equivalently or better than traditional emulsifiers and with a reduced dependence on aids used to compensate for inconsistencies,” IFF said in a statement.
Mixed financial results in Q1 with uncertain market conditions ahead
Meanwhile, IFF disclosed a 6% decline in sales to US$3.02 billion in its recently announced quarter 1 results.
According to the announcement. the ingredients company experienced mixed results across its portfolio.
Sales in the Health & Biosciences business were down 22% with growth in Cultures & Food Enzymes and Home & Personal Care not offsetting a decrease in sales in Health, Animal Nutrition, and Grain Processing.
Additionally, although its Scent and Pharma Solutions businesses increased sales (up 4% and 2% respectively), the Scent business saw a dip in sales in its Ingredients segment and the Pharma Solutions in its Industrial one.
“Our team successfully navigated soft end-market demand and customer inventory destocking as they executed our priorities to deliver our financial commitments. As we look ahead to the balance of the year, we continue to believe our volume performance will improve, yet acknowledge that market conditions remain uncertain,” explains Frank Clyburn, CEO of IFF.
Nevertheless, the company expects full-year 2023 sales to be approximately US$12.3 billion (previously US$12.5 billion), with an expected full-year 2023 adjusted operating EBITDA of approximately US$2.34 billion.
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