• Ingredion average gross margin for 2023 was 20.45%, a 9.24% increase from 2022.
• Ingredion average gross margin for 2022 was 18.72%, a 9.83% increase from 2021.
• Ingredion average gross margin for 2021 was 20.76%, a 1.56% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.