International Flavors & Fragrances, Inc. (NYSE:IFF) shares are trading lower on Thursday. The company launched TEXSTAR, which is an enzymatic solution that enhances the texture of dairy and plant-based fermented products by building viscosity without added stabilizers.
TEXSTAR allows manufacturers to achieve distinctive textures with simple, consumer-friendly ingredients, while improving supply chain resilience and reducing Scope 3 emissions associated with texturants.
Marianne Toftdal, global product line manager, Dairy Enzymes, IFF, said, "With nearly two-thirds of U.K. consumers scrutinizing yogurt ingredients as closely as other foods, TEXSTAR allows the creation of delicious, fresh fermented products with creamy, velvety textures that consumers love, using familiar and consumer-accepted ingredients."
This month, International Flavors reported a third-quarter adjusted EPS of $1.04, missing the $1.08 estimate, while sales reached $2.92 billion, surpassing the $2.83 billion expectation.
Investors can gain exposure to the stock via iShares Emergent Food and AgTech Multisector ETF (NASDAQ:IVEG) and Investment Managers Series Trust III FPA Global Equity ETF (BATS:FPAG).
Price Action: IFF shares are down 1.71% at $88.31 at the last check Thursday.
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