Americas held the largest market share in the Sodium Reduction Ingredients Market
Americas region holds the largest market share in the Sodium Reduction Ingredients Market, and is anticipated to reach $837.24 million by 2023 at a CAGR of 11.6%. However, Europe witnesses highest growth during the forecast period and is expected to reach $538.28 million by 2023 at a CAGR of 12.9%. America’s dominance is mainly due to the high penetration of packaged food products and considerable demand for low sodium foods. The key applications include Dairy Products, Frozen Foods, Bakery, Confectionery, and Meat Products among others.
Selected Value Chain Analysis done in the full report:
Food & Beverages industry encompasses a wide array of packaged food products, and the use of salt also varies according to the product and application. Sodium reduction ingredients (SRIs) providers need to be capable of offering system solutions that cater to the sodium reduction requirements while giving importance to taste and functionality as well as cost requirements of the F&B manufacturers.
The support of technology, technical and R&D expertise are quite essential to provide customized solutions. SRIs (Sodium Reduction Ingredients) manufacturers need to assess the technical complexities involved in the development and commercialization of ingredients that suit food product manufacturers’ specific requirements. As, there are several sodium reduction approaches at the process level as well as at the ingredients level, there exists a fair chance for the providers in this industry to gain competitive advantage by strengthening their R&D capabilities.
Procurement strategy plays a key role in this industry, as most of the offerings are based on customization and made-to-order approach. SRIs providers need to have a strong and diversified supplier base as the development of sodium reduction solutions involves variety of ingredients and blends. Raw materials can be extracted from either natural sources or through synthesizing. Mineral salts are extracted from natural sources such as sylvite, sea salt, and so on. On the other hand, yeast extracts, amino acids, and other ingredients involve fermentation and maturation process which needs specific environmental conditions.
Demand for specific type of SRIs is also dependent on the level of sodium reduction required. Currently, these required levels are mostly driven by the government regulations on various types of food products. Hence, F&B manufacturers seek solutions that help them to achieve required targets. However, SRIs providers and F&B manufacturers assess the taste preferences and perceptions of the consumers while developing ingredient solutions.
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Excerpts on Market Growth Factors:
APAC is expected to witness healthy growth, mainly driven by the strengthening sodium reduction recommendations, increasing preference for packaged foods and rising awareness about healthy and low sodium diet among consumers.
Yeast extracts market is estimated to reach $279 million by 2020, predominantly driven by rapidly spreading trend of adding yeast extracts in the place of Mono sodium glutamate and increasing flavor requirements along with sodium reduction.
Rising awareness among consumers about the ill effects of excessive sodium intake is one of the key driving factors for the market growth.
The high use of mineral salts in processed meat products and packaged snacks drives its market in North America.
The Mineral salts ingredient market is estimated to grow at a CAGR of 11.6% during the forecast period and the market is primarily driven by the innovation in modified density salts, increasing mineral salts combinations and rising preference for sea salts
Yeast extracts are the second most employed ingredient in U.S. sodium reduction ingredient market and is poised to grow at a CAGR of 11.4% to amount $105.4 million by 2020.
Bakery products hold the largest market for sodium reduction ingredients in Mexico due to commitment of prominent bakery product providers to reduce sodium content in their offerings.
Increasing consumer awareness about nutritional value of the packaged food products and consistent efforts from the government to spread awareness among consumers about healthy products with low sugar, low fat and low sodium fuels the SRIs market in this country.
The market for sodium reduction ingredients in U.K. is estimated to reach $86 million by 2020, growing at a CAGR of 13.3%.
This market is predominantly driven by shifting consumer preference towards healthy products and continuous government emphasis on reducing salt intake. Bakery and snacks segments are estimated to grow faster as compared to other end use applications, whereas meat products category is the major growth contributor.
One more contributing factor for the overall market growth is the active involvement of health institutes and research individuals in monitoring the salt intake, evaluating the sodium reduction strategies and increasing the consumer awareness during publications.
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Key players of Sodium Reduction Ingredients Market:
In this analysis, the product mix of key players such as Innophos Holding Inc. (U.S.), Jungbunzlauer Suisse AG (Switzerland), Cargill Inc. (U.S.), Ajinomoto Co (Japan) and Royal DSM (The Netherlands) are analyzed based on their brands, product type and end-use application.
Product launches and expansions are the most preferred growth strategy adopted by the players in this market accounting for a total share of 62%. Givaudan SA, one of the key players, has expanded its geographical presence and production capacities by establishing manufacturing and operation sites in emerging markets of Middle East and Asia.
Ajinomoto, one of the leading providers of amino acid based SRIs, has strengthened its presence in Asia by enhancing its production capabilities in China. Smart Salt Inc. (U.S.), one of the emerging players in the global sodium reduction ingredients (SRIs) market has entered into an agreement with CK ingredients, to develop and supply its food products in Canada.
Key players in the market such as Royal DSM N.V. (The Netherlands) and Angel Yeast (China) have launched two products each to strengthen their sodium reduction product mix based on yeast extract technologies. Even food ingredient giants such as Cargill Inc. and Tate & Lyle have been active in rolling out new products such as Flakeselect and Soda-Lo to tap the growing potential of this market. Most of the launches by the providers were targeted towards specific end-use segments, especially for snacks, meat and bakery applications. However, products customized for sauces, dressings and table top usage will be the target for the providers as they are the emerging segments.
Key players have focused on expanding their product mix by launching product extensions with enhanced functionalities. Some of the product launches in sodium reduction ingredients market include ‘Multirome’, a SRI based on yeast extract and natural savoury flavor ingredients by Royal DSM N.V. (U.S.), reduced sodium salts ‘Flakeselect’ by Cargill Inc. (U.S.), ‘sub4salt-plus’ by Jungbunzlauer Suisse AG (Switzerland).
Global SRIs market is estimated to witness considerable number of launches in the coming five years mainly due to increasing preference towards low sodium foods by consumers, strengthening regulatory framework in the food industry regarding sodium levels and rising awareness in the emerging markets of Asia and Latin America.
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