Future Market Insights (FMI) delivers key insights on the global sodium reduction ingredient market in its latest report titled, “Sodium Reduction Ingredient Market: Global Industry Analysis and Opportunity Assessment 2015 – 2025”. According to the published research study, the global sodium reduction ingredient market is expected to grow at a CAGR of 11.7% during the forecast period owing to multiple driving factors which are explained in detail in the sodium reduction ingredient market report.
Sodium Reduction Ingredient Market: Segmental Analysis
Based on application, sodium reduction ingredient market has been segmented into sauce/dips/dressings, snacks, bakery products, cheese/butter, frozen food, and others. Others include beverages, baby food, and breakfast cereal. The snacks segment is expected to register a higher growth rate of 11.0% in terms of value during the forecast period. In addition, snacks segment is estimated to hold 26.9% of revenue share in sodium reduction ingredient market in 2015. Apart from snacks, frozen food segment is also estimated to contribute maximum revenue share as compared to other segments over the forecast period in the sodium reduction ingredient market. New product launches by major players of sodium reduction ingredient will trigger the market growth in coming years. Among the application segments in sodium reduction ingredients market, bakery product segment is expected to register the highest CAGR of 12.8% during the forecast period.
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Sodium reduction ingredient market is segmented into amino acid, mineral blends, yeast extract and others based on different ingredient types. Others segment include hydrolyzed vegetable protein, trehalose, and nucleotides. Magnesium sulphate, calcium chloride, potassium sulphate, potassium chloride, and potassium lactate are also taken into consideration and are placed as sub-segments under mineral blends segment. Mineral blends segment is expected to dominate the sodium reduction ingredient market with a market share of 53.9% in 2015.
Sodium Reduction Ingredient Market: Factors Boosting Demand
Various demand and supply side factors are expected to trigger the growth of sodium reduction ingredient demand. Rising awareness regarding health benefits of reduced sodium in products and rising preference for processed food will drive the demand growth for sodium reduction ingredients. In 2014, Lebanese Action on Sodium and Health (LASH) group, under the patronage of the Lebanese Ministry of Public Health, launched a national health campaign to generate awareness regarding sodium intake in the country. The growing demand for sodium reduction ingredient is also backed by the introduction of government laws regarding the sodium intake in certain countries. In line with government regulation and market scenario, Kerry Foods reduced salt levels by 32 percent and fat by 21% in its cheese slices in 2013.
Sodium Reduction Ingredient Market: Regional Insights
The global sodium reduction ingredient market report covers global market trends and offers detailed analysis and insights into the potential demand in the coming years for each geographic region. Among the geographic areas analyzed in the sodium reduction ingredient study, North America is estimated to dominate the sodium reduction ingredient market with 32.0% value share by the end of 2015 and is expected to continue the dominant position in the sodium reduction ingredient market up to 2025. In terms of value, North America and Western Europe are collectively estimated to account over 59.9% of the sodium reduction ingredient market in 2015. Although, the sodium reduction ingredient market is dominated by the aforementioned geographic areas, the highest CAGR of 13.2% is expected to be seen in the Asia Pacific excluding Japan (APEJ) during the forecast period in the sodium reduction ingredient market.
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Sodium Reduction Ingredient Market: Competition Analysis
Few of the major players participating in the global sodium reduction ingredient market are Kerry Group PLC, Associated British Foods plc., Sensient Technologies Corporation, Tate & Lyle PLC, E. I. Du Pont De Nemours and Company, Givaudan SA, Cambrian Solutions Inc., Innophos Holdings, Inc., and Jungbunzlauer Suisse A.G. Active major sodium reduction ingredient industry participants are expected to invest a huge chunk of revenue share into research and development related activities to come up with new innovative products which will help them to maintain sustainable position in the industry for a longer time.
Major players in the sodium reduction ingredient market are focusing on launching new products frequently to meet the changing consumer preferences. In addition, companies operating in sodium reduction ingredient market are investing in the technological up gradation of the existing processes to meet changing manufacturing needs.