by Market Overview:
Salt substitutes such as potassium chloride, calcium chloride and magnesium chloride are used as an alternative to sodium chloride in food and food processing. They are added to prepared foods and condiments to enhance taste without increasing the sodium content. Salt substitutes contain little or no sodium, hence help in reducing blood pressure and cardiovascular diseases.
Market key trends:
One of the key trends in the salt substitute market is the growing demand for clean-label and healthy products. Consumers are increasingly preferring food products with simple and recognizable ingredients. They are willing to pay premium prices for products containing no artificial flavors, colors or preservatives. Along with this, rising health consciousness has fueled the demand for low-sodium alternatives. Therefore, manufacturers are developing salt substitutes from natural sources like herbs and spices to improve taste without using chemical additives. Furthermore, innovation in taste masking technologies has allowed producers to develop salt substitutes that closely resemble the salty taste of table salt.
The global Salt Substitutes Market Trends is estimated to be valued at US$ 1.16 Billion in 2023 and is expected to exhibit a CAGR of 5.67% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
The demand for salt substitutes is growing as consumers are increasingly health-conscious about their salt intake. One of the major trends driving the salt substitutes market is the rising prevalence of lifestyle diseases like hypertension and cardiovascular issues due to excessive salt consumption. According to various studies, reducing salt intake can significantly lower blood pressure and the risk of heart disease. As more people become aware of the health risks associated with high-salt diets, the market for salt substitutes is expected to grow rapidly in the coming years.
SWOT Analysis
Strength: Salt substitutes offer a healthy alternative to table salt without compromising on taste. They help reduce the sodium content of food.
Weakness: Some salt substitutes have an aftertaste that many consumers find unpleasant. They are generally more expensive than table salt.
Opportunity: Increasing health awareness and focus on preventive healthcare presents an opportunity for salt substitute manufacturers to expand to new regions.
Threats: Stricter regulations regarding ingredient formulation and labeling pose compliance challenges for salt substitute producers. Customer loyalty to brands like sea salt is also a threat.
Key Takeaways
Regional analysis
North America dominated the global market in 2021 and is expected to continue its dominance over the forecast period. This can be attributed to growing awareness about health issues related to excessive salt intake in the region. Asia Pacific is anticipated to be the fastest growing market for salt substitutes between 2023-2030 driven by rising disposable incomes and health expenditures in countries like China, India, and Japan.
Key players
Key players operating in the salt substitutes 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. Cargill Inc. is a leading provider of salt substitution ingredients globally.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
