PUBLISHER: The Business Research Company | PRODUCT CODE: 1270425
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270425
“Sodium Reduction Ingredients Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sodium reduction ingredients market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sodium reduction ingredients ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The sodium reduction ingredients market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the sodium reduction ingredients market are Cargill Incorporated, Angel Yeast Company Limited, Kerry Group Public Limited Company, Givaudan Societe Anonyme, Innophos Holdings Incorporated, Jungbunzlauer Suisse Aktiengesellschaft, K+S Kali GMBH, Royal DSM Naamloze Vennootschap, Advanced Food Systems Incorporated, Dr. Paul Lohmann GmbH & Co. KG, Associated British Foods Public Limited Company, Tate & Lyle Public Limited Company, Sensient Technologies, and Bio Springer S.A.
The global sodium reduction ingredients market is expected to grow from $1.16 billion in 2022 to $1.29 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sodium reduction ingredients market is expected to grow to $1.88 billion in 2027 at a CAGR of 9.9%.
The sodium reduction ingredients market consists of sales of sea salts, salt blends, natural peptide extracts, tomatoes, parmesan cheese, mushrooms and soy. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sodium reduction ingredients are food additives that reduce sodium levels in food while keeping the same flavor and functioning as salt. Sodium reduction ingredients increase the gustatory effects of sodium on the taste, even though the concentration of salt (sodium chloride) has been decreased.
North America was the largest region in the sodium reduction ingredients market in 2022. The regions covered in the sodium reduction ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The major types of sodium reduction ingredients are mineral blend, amino acid, yeast extracts, and other types. Mineral blend refers to a salt that helps reduce sodium without compromising taste. It allows for significant sodium reduction while achieving identical functionality in finished products. The mineral blend is widely used in baking, snacks, confectioneries, meat, seafood, and plant-based products. The various mineral blends include potassium sulphate, magnesium sulphate, calcium chloride, potassium lactate, and potassium chloride. These are used in various applications, such as bakery and confectionery, dairy and frozen foods, meat products sauces, and snacks.
The surge in demand for processed foods is expected to drive the sodium reduction ingredient market. Processed food is food that has undergone any modification during preparation. The increase in the income levels of people due to the growth of the economy, particularly in emerging countries, led to an increase in demand for processed and fast foods. Sodium is added to processed and packaged foods for various reasons, including microbial growth inhibition. Sodium is used to enhance flavor and texture and to bake and cure meat. For instance, in July 2022, according to a report published by the Food and Drink Federation, a UK-based organization that represents and consults food and drink manufacturers, the processed food and drink industry had a turnover of $127.88 billion in 2020 and $136.43 billion in 2021, accounting for 20% of total UK manufacturing, and it has increased by 3.4% since 2020. Therefore, the surge in demand for packaged food will drive demand for the sodium reduction ingredients market.
Technological advancement is a key trend in the sodium reduction ingredients market. Many players operating in the sodium reduction ingredients market are focused on innovating new technologies to reduce the sodium rate and sustain their market position. For instance, in May 2020, Phyto Corporation, a South Korea-based food technology firm, launched PhytoSalt, the world's first plant-based salt. It is capable of reducing sodium intake by 40%. PhytoSalt provides the same flavor, functionality, and taste as regular salt without the drawbacks of high sodium consumption. The company has achieved this reduction rate with continuous R&D and the development of new technology to extract salts completely from Salicornia.
In July 2021, Sensient Technologies Corporation, a US-based manufacturer of colors, flavors, and fragrances, acquired Flavor Solutions, Inc. for an undisclosed amount. Through this acquisition, Sensient increases its technical solution capabilities by adding important technologies and expanding its flavor portfolio. Flavor Solutions Inc. is a US-based custom product and flavor development company that deals in salt reduction and taste modulation technology platforms.
The countries covered in the sodium reduction ingredients market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The sodium reduction ingredients market research report is one of a series of new reports from The Business Research Company that provides sodium reduction ingredients market statistics, including sodium reduction ingredients industry global market size, regional shares, competitors with a sodium reduction ingredients market share, detailed sodium reduction ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the sodium reduction ingredients industry. This sodium reduction ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.