CJ FNT was Globally Launched to Become a 'Total Solutions Provider' in the Food & Nutrition Market

- Synergizing the bio and food business competencies to target the global market for food & nutritional ingredient solutions

SEOUL,South Korea,Feb. 14,2023 --CJ Food&Nutrition Tech(CJ FNT),a newly established business unit within South Korea-based food & bio company CJ CheilJedang,targets the global food & nutrition market initially focusing on the United States.

The business unit officially announced the launch of 'CJ FNT' brand globally on February 14. Accordingly,the food and nutrition ingredients product portfolio such as 'TasteNrich®,' 'FlavorNrich™,' and 'AMINATURE®' will be sold under the CJ FNT brand.

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. This new organization aims to meet the growing needs of the wellness category and lead innovations in the global food & nutrition market by synergizing the top-notch business capabilities of CJ BIO and CJ FOODS.

[Image] CJ FNT’s business structure

CJ FNT plans to become a 'total solutions provider' in the food & nutritional sector by 2025. To this end,it will quickly build up business competencies by securing a competitive edge in raw material and R&D,and by making strategic investments including M&A.

Looking ahead,CJ FNT will be focusing on developing next-generation ingredients and expanding the business,leveraging the organizational functions of its former predecessor – Human Nutrition & Health Business Division of CJ BIO. As global consumer interest in health continues to grow amid the COVID-19 pandemic,the market for healthy food ingredients & 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. The BU also launched the world's first non-electrolytic functional amino acid cysteine product 'FlavorNrich™.' With such a strong business performance model,CJ FNT will continue to introduce brand-new ingredients & solutions that will replace additives used to enhance the taste,aroma,texture and shelf life of food.

*Clean label: A term referring to food or food ingredients with characteristics such as additive-free,non-GMO,non-allergic,and natural ingredients. It has recently emerged as an important value in the global food market.

In the Nutritional Solutions business segment,CJ FNT is developing the 'customized 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 customized 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,Inc.,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 organization 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."

About CJ Food&Nutrition Tech (CJ FNT)

CJ FNT,a business unit of CJ CheilJedang,is a part of CJ Group,South Korea's preeminent company in the fields of Food & Food Service,Bio & Pharma,Entertainment & Media,and Retail & Logistics.

CJ FNT is a leading supplier of fermentation-based bio-products such as an extensive line of 'AMINATURE®' amino acids for human nutrition at its multi-national manufacturing facilities worldwide.

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