The global sodium reduction ingredient market is projected to register a robust CAGR of 11.7% during the forecast period due to various factors, regarding which FMI offers vital insights in detail.
Valley Cottage, NY -- (SBWIRE) -- 01/25/2017 -- 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". In terms of value, the global sodium reduction ingredient market is projected to register a robust CAGR of 11.7% during the forecast period due to various factors, regarding which FMI offers vital insights in detail.
On the basis of application, the market has been segmented into sauce/dips/dressings, snacks, bakery products, cheese/butter, frozen food and others (beverages, baby food, and breakfast cereal). The snacks segment is estimated to account for 26.9% share of the global sodium reduction ingredient market by 2015 end, and is expected to register a healthy CAGR of 11.0% in terms of value over the forecast period. Snacks and frozen food segments are expected to contribute maximum revenue shares over the forecast period. Furthermore, continuous product launches by various key players is expected to fuel market growth during the forecast period. The bakery product segment is expected to register the highest CAGR of 12.8% in the sodium reduction ingredient market over the forecast period.
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On the basis of ingredient type, the sodium reduction ingredient market is segmented into amino acid, mineral blends, yeast extract and others (hydrolyzed vegetable protein, trehalose, and nucleotides). Mineral blends is further sub-segmented into magnesium sulphate, calcium chloride, potassium sulphate, potassium chloride and potassium lactate. Among ingredient types, the mineral blends segment estimated to account for highest market share of 53.9% by the end of 2015 and is expected to be remain dominant during the forecast period.
Growth of the global sodium reduction ingredient market is mainly driven by increasing consumer awareness and rising government promotion of intake of low sodium products across the globe. Moreover, increasing regulatory norms for food product manufacturers for reducing sodium level in their product is another factor boosting market growth. Furthermore, rising disposable income coupled with increasing number of health conscious people across the globe is also expected to fuel growth of the global sodium reduction ingredient market over the forecast period.
The report provides global trends and offers detailed analysis and insights about the potential of the sodium reduction ingredient market across various key regions. North America is estimated to dominate the sodium reduction ingredient market with 32.0% value share by the end of 2015, and is projected to remain dominant through 2025. North America and Western Europe are collectively estimated to account for over 59.9% share of the total sodium reduction ingredient market in terms of value by end of 2015. The market in Asia Pacific excluding Japan (APEJ) is projected to register the highest CAGR of 13.2% in terms of value between 2015 and 2025. Key players in the sodium reduction ingredient market are constantly developing and launching sodium reduction solutions for various applications. Moreover, companies are undertaking technological upgradation, while integrating all processes in order to meet the changing manufacturing needs.
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Key players in the global sodium reduction ingredient market are Cambrian Solutions Inc., Kerry Group PLC, Associated British Foods plc., Givaudan SA, E. I. Du Pont De Nemours and Company, Innophos Holdings, Inc, Jungbunzlauer Suisse A.G., Sensient Technologies Corporation and Tate & Lyle PLC.
Major players operating in the sodium reduction ingredient market focus on making significant investments in research and development to broaden their product portfolio and gain competitive advantage in the market.