Global Sodium Reduction Ingredient Market is estimated to be valued at US$ 3.0 Billion in 2023, according to the Global Sodium Reduction Ingredient Market Report, by Ingredient (Amino Acids, Mineral Blends (Magnesium Sulphate, Calcium Chloride, Potassium Sulphate, Potassium Chloride, Potassium Lactate), Yeast Extracts, Others), by Application (Sauces/Dips, Dressings, Snacks, Bakery Products, Cheese/Butter, Frozen Food, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa), published by Coherent Market Insights.
Food being an essential commodity, the demand for food ingredients such as sodium reduction ingredients 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 the 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.
Global Sodium Reduction Ingredient Market is estimated to account for around US$1.4 Billions in terms of value in the year 2022 and it is predicted to grow at a CAGR of 10.0% during the forecast period (2023-2030)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/sodium-reduction-ingredient-market-3970
Browse 50 market data tables* and 40 figures* on "Global Sodium Reduction Ingredient Market” - Forecast to 2030.
Key Trends and Analysis of the Global Sodium reduction ingredient Market:
- Major retailers are focusing on reducing sodium content in food products due to the increasing implementation of strict rules & regulations is a major trend in the market. According to the Coherent Market Insights analysis, Tesco Stores Ltd., (groceries and general merchandise retailer) with 2,300 stores across the U.K. is focusing on reducing sodium content in its food products. The company claims to have cut down on 145 tons of sodium from ready meals, 780 tons from bakery products, and 250 tons from meat products.
Key Takeaways of the Global Sodium reduction ingredient Market:
- On the basis of region, North America region dominated the global sodium reduction ingredient market in 2022 with a 33% of market share in terms of value, followed by Europe and Asia Pacific respectively.
- New product innovation in the market is a major trend that is expected to augment the market growth of the sodium reduction ingredient. For instance, in May 2020, Salt of the Earth, a producer of sustainable sea salt solutions developed a new clean-label sodium-reduction ingredient with wide product applications across the sector. This new sodium reduction ingredient is designed as a 1:1 drop-in replacement for salt in snack applications, yielding a 40% reduction in sodium.
- New product launches, mergers & acquisitions, strategic partnership expansion, and research & development activities for the sodium reduction ingredient are key strategies adopted by players in the global sodium reduction ingredient market.
Global Sodium Reduction Ingredient- Impact of Coronavirus (Covid-19) Pandemic
COVID-19 is an unprecedented global health emergency affecting nearly every industry and the long-term impact is expected to impact industry growth during the forecast period. increase. Due to increased consumer health and nutrition awareness, changing preferences for reduced-salt products, changes in consumer behavior and demand, purchasing behavior, supply chain restructuring, current market dynamics and significant government intervention Expected to grow.
