Glutamates to Hold 66% of Global Salt Content Reduction Ingredients Market Revenue Share by 2029
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These ingredients are capable of offering enormous benefits such as salt content reduction in processed food and flavor enhancement of the product throughout its life cycle. This scenario has led to immense opportunities for market players to come forth with innovative alternatives to salts.
On this backdrop, global salt reduction ingredients market is poised to reflect a whopping growth rate of over 9% till 2029. To substitute salt from daily food intake, recent past has witnessed adoption of salt reduction ingredients, of which glutamates will continue to lead throughout the forecast period, reveals Fact.MR in a recently published report on salt content reduction ingredients market. As per the report, global salt content reduction market is forecast to surpass US$ 8 Bn by 2029 end.
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Key Takeaways of Global Salt Content Reduction Ingredients Market
• Global salt content reduction ingredients market is expected to create an absolute value opportunity of around US$ 5,075 Mn by 2029 end, adding 1.5X times more value as compared to 2019
• Demand for glutamates as a salt replacement is expected to account for almost 66% of the total revenue share by 2029 in global salt content reduction ingredients market
• Salt reduction ingredients for meat & poultry applications is expected to gain 130 BPS by 2029, as substitution of salt with ingredients like potassium chloride and yeast extracts can reduce the sodium content in meat products significantly
• Despite losing market share by 2029, consumption of salt reduction ingredients in North America is expected to be responsible for almost one-third of the total incremental $ opportunity created in the market over the forecast period
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• Asia Pacific is expected to register leading growth at an astounding CAGR of over 10% throughout the forecast timeframe, however, potential of the market in Japan will be on the slower side among all the regions
“Rising consumer awareness on salt content reduction in diet is propelling demand growth for salt content reduction ingredients. Processed foods with reduced salt content cost at least 5% more than normal products, thus making them affordable for consumers with high purchasing power” says a Fact.MR analyst
Product Innovation Pivotal to Market Success
Manufacturers of salt content reduction ingredients are eying product innovation, keeping in mind health concerns attributed to high consumption of sodium salts.
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Global salt reduction ingredients market is moderately fragmented, majorly dominated by few top players. Thus, companies have been focusing on providing innovative products that can preserve taste and reduce the salt content to a large extent in compliance with product cost reduction.
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