Newark, June 13, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global salt substitute market is expected to grow from USD 1.2 billion in 2021 to USD 2.3 billion by 2030, at a CAGR of 7.9% during the forecast period 2022-2030.
Salt substitutes are substitutes for salt which are low in sodium. These have been developed to tackle the increasing risk of high blood pressure and cardiovascular diseases, which are caused due to higher consumption of sodium chloride in the food. Changing lifestyles and increasing urbanization have increased salt intake, resulting in the rising prevalence of obesity, cardiovascular diseases, high blood pressure, and metabolic syndrome. According to World Health Organization (WHO), In 2016, around 39% of adults were overweight worldwide. Furthermore, according to a study it was found that around 41 million children below five years of age were obese in 2016. Excessive use of food products high in salt and sugar content is a significant cause of the diseases. Consumption of food products with high sodium content causes high blood pressure. The Food and Agricultural Organization (FAO) and World Health Organization (WHO), and several other organizations have advocated for the consumption of salt substitutes.
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Competitive Strategy
To enhance their market position in the global salt substitute market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In July 2020, Tate & Lyle released the VANTAGE sweetener solution design tools. It is a collection of educational programs and innovative and new solution design tools for creating foods with less salt and drinks with low calories.
Market Growth & Trends
Increasing awareness among the population regarding organic-based foods and beverages coupled with rising concerns for improved health has led to the growth of the salt substitutes market. In addition to this, the rising healthcare expenditure and increasing adoption of a healthy diet have propelled the market's growth. Furthermore, increasing awareness regarding health disorders among a large population caused by the high consumption of sodium chloride adds impetus to the market's growth. The rising trend for consumption of a low sodium diet is expected to increase the growth of the salt substitute market rapidly. However, it has been seen that excessive consumption of salt substitutes can cause serious health issues such as heart disease, type II diabetes, obesity, and rare cases of cancer. Apart from this, the less availability of salt substitutes and the increasing development of artificial salt substitutes limit the market's growth.
Key Findings
● In 2021, the mineral salts segment dominated the market with the largest market share of 26% and market revenue of 0.3 billion.
The product type segment is divided into mineral salts, hydrolyzed vegetable protein, amino acids, yeast extracts, and others. In 2021, the mineral salts segment dominated the market with the largest market share of 26% and market revenue of 0.3 billion. Mineral salts are organic salts that are widely used to increase the flavor of food items which drives the segment's growth.
● In 2021, the dairy and frozen foods segment accounted for the largest share of the market, with 18% and market revenue of 0.2 billion.
The application segment is divided into snacks, dairy and frozen foods, bakery & confectionery, meat & poultry, soups, beverages, sauces & dressings, salads, and others. In 2021, the dairy and frozen foods segment accounted for the largest share of the market, with 18% and market revenue of 0.2 billion. The rising demand for dairy and frozen foods drives the growth of the salt substitute market in the segment.
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Regional Segment Analysis of the Salt Substitute Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia Pacific emerged as the largest market for the global salt substitute market, with a market share of around 40.8% and 0.4 billion of the market revenue in 2021. The Asia Pacific region's salt substitute market has been rapidly growing due to a large population. Changing lifestyle and increasing demand for organic food is driving the growth of the market in the region. The rising prevalence of chronic diseases caused due to higher intake of table salts propels the growth of the salt substitute market in the region.
Key players operating in the global salt substitute market are:
● Cargill Inc.
● Food Sciences LLC
● Koninklijke DSM N.V.
● Indusrie Holding A.G.
● Yeast Co. Ltd.
● Tate & Lyle Plc
● Innophos Holding Inc.
● K+S Aktiengesellschaft
● Alsiano
● Givaudan SA
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global salt substitute market based on the below-mentioned segments:
Global Salt Substitute Market by Product Type:
● Mineral Salts
● Hydrolyzed Vegetable Protein
● Amino Acids
● Yeast Extracts
● Others
Global Salt Substitute Market by Application:
● Snacks
● Dairy and Frozen Foods
● Bakery & Confectionery
● Meat & Poultry
● Soups
● Beverages
● Sauces & Dressings
● Salads
● Others
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About the report:
The global salt substitute market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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