Growing government rules and regulations to motivate people to consume less sodium is expected to augment the market growth of the sodium reduction ingredient. Rising focus of the manufacturer to reduce the sodium content in the processed food is again expected to accelerate the market growth of the sodium reduction ingredient. Furthermore, various companies are also conducting workshops to educate the people regarding the negative health effects of consuming sodium. This is expected to stimulate market growth of sodium reduction ingredient.
Growth in the food and beverage industry is expected to serve major growth opportunities to the market of the sodium reduction ingredient. According to the United States Department of Agriculture Economic Research Service, this is attributed to increasing spending on food products. In 2018, U.S. consumers, businesses, and government entities spent $1.71 trillion on food and beverages in grocery stores and other retailers and on away-from-home meals and snacks.
The use of sodium reduction ingredients leaves an after-taste in food products. For example, potassium chloride leaves a slightly bitter/metallic aftertaste. This factor is projected to restrict the use of the product which in turn is projected to hinder the market growth of the sodium reduction ingredient.
On the basis of region, North America region dominated the global sodium reduction ingredient market in 2019 with a 31.9% of market share in terms of value, followed by Europe and Asia Pacific respectively.
On the basis of ingredients, mineral blends segment dominated the global sodium reduction ingredient market in 2019 with 54.4% of market share in terms of value, followed by yeast extracts and amino acid respectively.
Major retailers are focusing on reducing sodium content in food products due to increasing implementation of strict rules ®ulations is a major trend in the market. According to the Coherent Market Insights analysis, Tesco Stores Ltd., with 2,300 stores across the U.K., is focusing on reducing sodium content in its food products. The company claims to have cut down on 145 tons of sodium from ready meals, 780 tons from bakery products, and 250 tons from meat products.
New product innovation in the market is a major trend that is expected to augment the market growth of the sodium reduction ingredient. For instance, in May 2020, Salt of the Earth has developed a new clean-label sodium-reduction ingredient with wide product applications across the sector. This new sodium reduction ingredient is designed as a 1:1 drop-in replacement for salt in snack applications, yielding a 40% reduction in sodium. Mediterranean Umami, is a clean-label, plant-based solution designed to maintain the desired savory taste that consumers crave.
In 2011, Hungary passed the Public Health Product Tax Act, which levies a five-cent tax on foods with high sodium content.
Sodium Reduction Ingredient Market - Impact of Coronavirus (Covid-19) Pandemic
The coronavirus pandemic has led to increasing demand for ready to eat and snack products. According to ITC Ltd. (India based FMCG company) demand for frozen snacks in India increased by 25% to 30% when compared to pre-Covid period. According to Coherent Market Insights, demand for sodium reduction ingredient will not be hampered by the ongoing pandemic.