by The global sodium reduction ingredient market is estimated to be valued at US$ 1.54 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sodium reduction ingredients are food additives which help in reducing the sodium content in food products without compromising on the flavor. These ingredients act as a substitute for table salt and play an important role in flavor enhancement. They find wide applications in bakery and confectionery products, soups and sauces, meat and poultry products, snacks and convenience foods. The growing awareness regarding health issues associated with high salt intake such as high blood pressure is boosting the demand for sodium reduction ingredients.
Market key trends:
One of the major trends in the sodium reduction ingredient market is the rising demand for clean label and natural products. Consumers are increasingly preferring food products with easy to understandable ingredients lists without artificial or synthetic ingredients. This has prompted ingredient manufacturers to offer natural sodium reduction solutions extracted from plant and herb sources such as yeast extracts, mineral salts, acidulants and flavor enhancers. Another key trend is the launch of innovative ingredient blends which can reduce sodium content by 25-50% without compromising on taste. Leading players are focusing on development of multi-functional ingredients with additional health benefits such as potassium enhancement, to gain competitive edge in the market.
Porter’s Analysis
Threat of new entrants: Low barriers to entry, new players can enter the market by exploring new sodium reduction ingredients and their suitability for different food products. However, established players have well known brand names and distribution channels.
Bargaining power of buyers: Buyers have moderate bargaining power as they can switch between different sodium reduction ingredients easily depending on the suitability and prices. They prefer low-cost products.
Bargaining power of suppliers: Suppliers have moderate power as major players source ingredients from different suppliers and have alternative sourcing options.
Threat of new substitutes: Threat is moderate to high as manufacturers explore new alternatives to sodium that provide similar taste benefits at lower costs.
Competitive rivalry: Intense as key players compete on the basis of new product development, quality, and pricing.
Key Takeaways
The global Sodium Reduction Ingredient Market is expected to witness high growth, exhibiting a CAGR of 10.% over the forecast period, due to increasing health awareness among consumers regarding cardiovascular diseases caused due to high sodium intake.
North America led by the U.S. dominated the market and accounted for more than 35% of the global market share in 2023 owing to increasing obesity rates. Asia Pacific is expected to be the fastest growing region during the forecast period due to growing middle-class population and their willingness to spend on premium food products.
Key players operating in the Sodium Reduction Ingredient Market are Cambrian Solutions Inc., Kerry Group PLC, Associated British Foods plc, Givaudan SA ADR, E. I. DUPONT DE NEMOURS AND COMPANY, Innophos Holdings, Inc., Jungbunzlauer Suisse A.G., Sensient Technologies Corporation, and Tate & Lyle PLC. Key players are focusing on new product innovations, partnerships and mergers & acquisitions to strengthen their market position
