Salt Substitutes Market Perspective by Comprehensive Analysis Growth Prediction to 2025
Salt substitutes are food ingredients that can be used as a substitute for table salt. Increasing urbanization and sedentary lifestyle have resulted in increased salt intake among consumers. This has resulted in high prevalence of obesity across all age groups. According to World Health Organization (WHO), in 2016, around 39% of adults across the globe were overweight. Furthermore, in the same year around 41 million children below age of 5 were found to be overweight. Overindulgence in food and beverage products that are high in sugar and salt content is major cause of disease progression. High consumption of salt is associated with the onset of lifestyle diseases. For instance, consumption of food products with high level of sodium results into high blood pressure. Increasing awareness among population regarding food ingredients coupled with increasing concerns for preventive healthcare has led to consumers taking keen interest in the constituents of any food they consume. Rising healthcare expenditure has urged consumer to adopt healthy diet, which is propelling demand for salt substitutes.
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Yeast extracts is the fastest growing product segment in salt substitutes market, witnessing a CAGR of 9.82% during the forecast period. Yeast extracts ingredients are mainly from Saccharomyces cerevisiae. Yeast extract can be formulated with potassium chloride to reduce the potassium chloride metallic taste and enhance salty taste. It is used as a flavoring agent for food and beverages industry along with its use as an additive or preservative. It also replaces Monosodium Glutamate (MSG), which is a sodium salt for glutamic acid. MSG contains 90% of glutamate, which can cause nausea, weakness and headache. Yeast extract only contains 5% of glutamate, making it the more preferred option.
Dairy & frozen foods segment held largest market share of 46.3% in 2016. According to Coherent Market Insights, salt content were found to be high in canned foods with a mean of 935mg/serving as compared to processed foods with 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.
Europe is the second largest market for salt substitutes. 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.
Asia Pacific is expected to be the third-fastest growing market in the global salt substitute market. Increasing adoption of salt substitutes in China, South Korea, and India is anticipated to bolster market growth. Economies in Central Asia such as Kazakhstan, Uzbekistan, Turkmenistan and Tajikistan consumed an average of 14.25g of salt per day as compared to the 5g/day recommendation pegged by the World Health Organization (WHO). These factors are creating an awareness among the consumers to adopt salt alternatives, which is a major factor boosting growth of salt substitutes market in this region.
Manufacturers operating in the global salt substitutes market are adopting various strategies such as merger and acquisitions, collaborations, and new product launches among others to retain its position in the market. For instance, in 2016, Koninklijke DSM N.V., launched ModuMax, a natural taste modulator, which is allergen-free, clean label and it can be used in a wide variety of applications from savory soups and sauces to sweet beverages and desserts.
Key players operating in the global salt substitute market include Cargill Inc., Nu-Tek Food Sciences LLC, Koninklijke DSM N.V., Montana Indusrie Holding A.G., Angel Yeast Co. Ltd., Tate & Lyle Plc, and Innophos Holding Inc.
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