The Europe sodium reduction ingredient market is expected to grow at a CAGR of 12% during the forecast period from 2018 to 2023. The demand for these products in the region is likely to witness a rapid growth as countries, such as UK and Germany with a large population of hypertensive individuals that have been advised to either cut down on or completely eliminate their sodium intake would be instrumental in propelling growth for SRI.
Versatility in its application has provided the requisite impetus to these health-promoting products. By product type, South Americas market for mineral salts is the largest, while fastest growth in demand is expected to be posted by yeast extracts. Snacks and meat products corner the largest combined share of SRI in the region, which are also forecasted as the fastest growing application areas. Some of the major factors driving demand for SRI include the greater emphasis on health nutrition, the growing knowledge with regard to the detrimental effects of excessive intake of salt, improvement in taste, and increased demand for processed foods.
The European SRI market is segmented by type into amino acids & glutamates, mineral salts, yeast extracts, and others. By application, it is segmented into bakery & confectionery, condiments, seasonings & sauces, dairy & frozen foods, meat & meat products, and other snacks. By application, largest consumption of SRI has been observed in meats and meat products, followed by snacks, with these two areas also expected to grow fast.
Europe is slated to emerge as the fastest growing global market for SRI, with the prospect of posting a CAGR of over 12%, during the forecast period, 2018-2023. Germany and the United Kingdom are the two largest regional markets for SRI in Europe, with a collective share of nearly 50% as estimated in 2017.
- January 2018 - Cargill opened its first food grade potassium chloride operation plant to meet increasing consumer demand for lower sodium food options.
- January 2016 - ADM new sodium reduction ingredients for use in meat applications, after combining its flavor expertise and meat capabilities.
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- Analyzing outlook of the market with the recent trends and Porters five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modeling
2.4.4 Expert Validation
3. Key Findings of the Study
4. Market Overview
4.2 Market Dynamics
220.127.116.11 Health & Wellness Campaigns Increasing Awareness amongst the Consumers
18.104.22.168 Growing Demand from the Food Processing Industry
22.214.171.124 Identification of New Flavor Enhancing Ingredients
126.96.36.199 Cost Implications and Ingredient Combinations
188.8.131.52 Low Adoption Rate
184.108.40.206 Stringent Regulatory Framework
220.127.116.11 Innovation in Product Applications
18.104.22.168 Growing Opportunities from Untapped Developing Markets
4.2.4 Porters Five Forces Analysis
22.214.171.124 Bargaining Power of Suppliers
126.96.36.199 Bargaining Power of Buyers
188.8.131.52 Threat of New Entrants
184.108.40.206 Threat of Substitute Products and Services
220.127.116.11 Degree of Competition
4.2.5 Value & Supply Chain Analysis
5. Market Segmentation
5.1 By Product Type
5.1.1 Amino Acids & Glutamates
5.1.2 Mineral Salts
18.104.22.168 Potassium Chloride
22.214.171.124 Magnesium Sulphate
126.96.36.199 Potassium Lactate
188.8.131.52 Calcium Chloride
5.1.3 Yeast Extracts
5.2 By Application
5.2.1 Bakery & Confectionery
5.2.2 Condiments, Seasonings & Sauces
5.2.3 Dairy & Frozen Foods
5.2.4 Meat & Meat Products
5.3 By Geography
184.108.40.206 Rest of Europe
6. Competitive Landscape
6.1 Most Adopted Market Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles
7.2 Angel Yeast Co. Ltd.
7.4 Bunge Ltd.
7.5 Cargill Inc.
7.6 Danisco A/S
7.7 Kerry Group
7.8 Novozymes A/S
7.9 Ohly Americas
7.10 Purac Biochem BV
7.11 Royal DSM NV
7.12 Tate & Lyle Plc.