CJ FNT launches as ‘Total Solutions Provider’ targeting US first
CJ Food&Nutrition Tech (CJ FNT), a newly established business unit within South Korea-based food & bio company CJ CheilJedang, is targeting the global food and nutrition market in the United States with a product portfolio including ‘TasteNrich,’ ‘FlavorNrich,’ and ‘Aminature’.
CJ FNT was established at the end of 2022 by combining CJ’s food ingredients and nutritional solutions business, as well as the addition of future growth businesses such as alternative proteins and cultured proteins.
CJ FNT plans to become a ‘total solutions provider’ in the food & nutritional sector by 2025 and will look to build up a competitive edge in raw material and R&D, and by making strategic investments including M&A.
CJ FNT said it will focus on developing next-generation ingredients and expanding the business as global consumer interest in health continues to grow amid the Covid-19 pandemic. The market for healthy food ingredients and solutions is expected to grow from about $560 billion in 2021 to about $704 billion in 2025.
In this category, CJ FNT has successfully grown ‘TasteNrich,’ a clean-label vegetable fermented seasoning blend, into a large-scale product with annual sales of $40 million in just two years after its launch. It also launched the non-electrolytic functional amino acid cysteine product ‘FlavorNrich.’
In the nutritional solutions business segment, CJ FNT is developing the ‘customised solution’ business (for both corporate and individual customers) to meet the diversified consumer needs for nutrition and health.
The functional nutrition market, which includes fortified foods, healthy functional foods and workout supplements, is expected to reach about $490 billion in 2025. To win in this market, companies need to have the whole package from R&D-based raw material development to customised manufacturing/formulation technology as well as having the ability to create finished products.
CJ FNT plans to be vertically integrated throughout the whole value chain. This includes strategic investment in new technologies such as BIO foundry & top of the line contract development manufacturing company (CDMO).
In December of 2022, CJ FNT signed an exclusive license agreement to use ursolic acid technology with Emmyon, a US-based biotechnology startup, targeting the global nutrition market. In collaboration with Emmyon, CJ FNT will develop the nutritional raw materials that will help prevent muscle loss. CJ FNT will also provide a ‘total solution’ which will include manufacturing insights and raw material application technologies to health functional food manufacturers.
“CJ FNT is a young organisation that combines CJ BIO’s advanced R&D technologies with CJ FOODS’ market insights and know-hows,” said an official from CJ FNT, “We will become a total solution provider in the global food & nutrition market by establishing core business competencies in the early stage.”
