Global Salt Substitutes Market was valued at US$ 1.09 billion in 2021, According to Salt Substitutes Market Report, by Product Type (Mineral Salts, Amino Acids, Yeast Extracts, Hydrolyzed Vegetable Protein, and Others), by Application (Dairy and Frozen Foods, Bakery and Confectionery, Sauce, Seasoning and Snacks, Fresh Meat Products, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights
Global salt substitutes market was valued at US$ 1.09 Billion in 2021. Salt substitutes market is expected to register a CAGR of 5.67 % over the forecast period (2022–2030).
Major salt substitute products include mineral salts, amino acids, yeast extracts, and hydrolyzed vegetable protein. High consumption of salt is associated with onset of lifestyle diseases such as high level of sodium absorbed by the body results into high blood pressure leading to various health complications such as obesity, hypertension, atherosclerosis, and heart disease. Over the last few decades, North America, Europe, Middle East and the high income economies in Asia Pacific witnessed a staggering rise in lifestyle diseases. Replacing salt by substitutes such as potassium chloride, amino acids, and hydrolyzed vegetable protein will significantly reduce the adverse effects associated with overconsumption of sodium. The World Health Organization (WHO), Food and Agricultural Organization (FAO) in 2021, and numerous other organizations have advocated for reduction and/or substitution of sodium in food. Market players are currently focusing on new product development and improving product quality of already existing product portfolio. Rapid penetration of food & beverage retail sector especially in emerging economies fuelled by favorable government initiatives is drawing attention of leading market players and is projected to boost growth of salt substitute market over the forecast period.
The global salt substitutes market has been negatively impacted to some extent due to the ongoing COVID pandemic. This can be attributed to the imposition of lockdown, travel restrictions, and shutting down of manufacturing facilities.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/salt-substitutes-market-1430
Browse 50 market data tables* and 40 figures* on "Global Salt Substitutes Market” - Forecast to 2030.
Key Trends and Analysis of the Global Salt Substitutes Market:
- Among regions, North America accounted for a significant market share of 36.4% in 2021 and Europe accounted for the second largest market with a market share of 20% in 2021. Increasing health awareness among population and introduction of new products majorly focusing on the health requirement of the consumers are the major factors driving growth of the market. Manufacturers in the region are working towards introduction of healthy variants of existing products. European manufacturers are focused on reducing the concentration of sodium in meat, dairy, and convenience food products.
Key Takeaways of the Global Salt Substitutes Market:
- Among application, dairy and frozen foods segment held largest revenue share of 46.3% in the global salt substitutes market in 2021. According to Coherent Market Insights in 2021, salt content were found to be high in canned foods with a mean of 935mg/serving as compared to processed foodswith a mean of 805 mg/serving. The replacing of salt by its substitutes is expected to propel the demand for these products over the forecast period.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the salt substitutes are key strategies adopted by players in the global salt substitutes market. For instance, in May 2021, CarberyGroup, a leading global manufacturer of specialty and nutritional dairy ingredients acquired Innova Flavors from Griffiths Food Worldwide. Innova supplies customized savory flavors and ingredients to customers from its manufacturing facility in the Chicago area. This acquisition will strengthen the “Synergy” Carbery’s international flavors business, within the U.S. headquarters in the Chicago region.
