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Press Release: Sodium Reduction Ingredient Market to reach around US$ 2158.7 million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Sodium reduction ingredient is important to reduce the excess amount of sodium present in the food as it can lead to various health issues such as cardiovascular diseases and hypertension. Sodium helps to improve the texture and sensory quality of the food and also, preserve the food from spoilage. Sodium reduction ingredient reduce the excessive amount of the sodium present in the food while maintain the critical features of the food such as safety, taste, texture, and shelf-life.
The global sodium reduction ingredient market is projected to reach around US$ 2158.7 million by the end of 2027, in terms of revenue, growing at CAGR of 12.2% during the forecast period (2020-2027).
Drivers
Growing demand for processed food due to changing lifestyle is primarily fueling the market growth of the sodium reduction ingredient. Rising consumption of packaged food with less salt is also anticipated to foster the market growth of the sodium reduction ingredient. Moreover, growing awareness regarding the negative health effect of excessive consumption of the sodium ingredients is further expected to augment the market growth of the sodium reduction ingredient.
Figure 1. Global Sodium Reduction Ingredient Market Share (%) in terms of Value, By Region, in 2019
North America region dominated the global sodium reduction ingredient market in 2019, accounting for 31.9% share in terms of value, followed by Europe and Asia Pacific, respectively.
Market Restraints
The high cost of the final product as it requires lots of processes that increased the overall cost of the product. According to the Coherent Market Insights, reduced salt products cost at least 5.0% more than normal products.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 862.1 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 12.2% | 2027 Value Projection: | US$ 2158.7 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
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 |
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| Restraints & Challenges: |
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Market Opportunities
Increasing application of sodium reduction ingredient in confectioneries, frozen foods, and bakery food products is expected to bring new growth opportunities to the market. Growing consumption of treated food around the globe coupled with the increasing use of the sodium reduction ingredients in pizzas, sandwiches, and bread is another major factor projected to augment the market growth of sodium reduction ingredient over the forecast period.
The rising prevalence of the food flavors and sauces & seasonings is expected to provide potential growth opportunities to the market. Growing R &D activities by manufacturer supported by favorable government policies to develop an innovative and new product with enhanced properties is projected to foster the market growth. Growing diagnosis of cardiac ailments is another major factor projected to foster the market growth of the sodium reduction ingredient.
Figure 2. Global Sodium Reduction Ingredient Market– Opportunity Analysis
Market Trends
Most of the food brands are focusing on reducing the sodium content is one of the current major trends and this trend is expected to augment the market growth of the sodium reduction ingredient. According to the Coherent Market Insights analysis, PepsiCo Inc. the reduced salt content in Walkers Crisps and Walkers Lights by 25% and that in Walkers Sensations by around 45%. The company also reduced-sodium levels in its snack products by 25%–55%.
Figure 3. Global Sodium Reduction Ingredient Market Share (%) in terms of Value, By Application, in 2019
On the basis of application in 2019, the snacks segment has accounted the largest market share of 26.2% in terms of value, followed by frozen foods and bakery products segment respectively.
Regulations
World Health Organization (WHO) recommends that adults consume less than 2,000 mg of sodium or 5 grams of salt, per day. Moreover, the ‘Dietary Guidelines for Americans 2010’ recommends that daily sodium intake should be less than 2,300 mg per day and less than 1,500 mg for people aged 51 and above.
Global Sodium Reduction Ingredient Market - Impact of Coronavirus (Covid-19) Pandemic
Food being an essential commodity, the demand for food ingredients such as sodium reduction ingredient is expected to rise during the pandemic and post pandemic conditions, worldwide. Having said that, Coronavirus (Covid-19) has majorly impacted the food & beverages industry and in turn has changed the dynamics of entire ecosystem including raw material suppliers supplying food ingredients. Lockdown in various nations such as India, China and Spain, among others and cease in the subsequent trade activities has paralyzed the supply chain. Lockdown in various countries is expected to impact supply chain system of sodium reduction ingredient, which will hamper growth of sodium reduction ingredient market for short period.
Competitive Section:
Company Names
Cambrian Solutions Inc.
In September 2019, Maroon Group LLC has announced that it has acquired Cambrian Solutions Inc., a distributor of specialty ingredients and chemicals based in Oakville, Ontario, Canada.
Sodium reduction ingredient is important to reduce the excess amount of sodium present in the food as it can lead to various health issues such as cardiovascular diseases and hypertension. Sodium helps to improve the texture and sensory quality of the food and also, preserve the food from spoilage. Sodium reduction ingredient reduce the excessive amount of the sodium present in the food while maintain the critical features of the food such as safety, taste, texture, and shelf-life.
Market Dynamics
Rising prevalence of the chronic ailments such as cardiovascular disease caused by consumption of excess sodium is projected to foster the market growth of the sodium reduction ingredient. According to the U.S. Department of Health & Human Services, about 647,000 Americans die from heart disease each year that’s 1 in every 4 deaths. Thus, growing cases of disease associated with the consumption of excessive sodium is projected to augment market growth.
Growing health wellness trends due to the growing adoption of a healthy lifestyle is expected to foster the market growth of the sodium reduction ingredient. Increasing disposable income of the consumer is encouraging them to spend on the healthy food products which are further expected to augment the market growth of the sodium reduction ingredient over the forecast period.
However, many consumers do not want to compromise on the taste of the food is projected to hinder the market growth of the sodium reduction ingredients over the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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