Market Overview:
Salt substitutes are food additives used as alternatives to table salt in reduced sodium diets. They are sodium-free and help reduce health risks associated with high blood pressure. They impart salty taste without containing actual sodium and are useful for people advised to cut down on sodium intake.
Market key trends:
One of the major trends in the salt substitutes market is the rising prevalence of lifestyle diseases due to excessive sodium intake. High consumption of table salt is a primary risk factor for hypertension. As people are becoming increasingly health conscious, demand for low-sodium food options is growing. Many processed food manufacturers are replacing table salt with substitutes to cater to this demand. Regulatory guidelines on sodium levels in foods are further driving this change.
Segment Analysis
The global salt substitutes market is segmented on the basis of product, end-use industry and region. Based on product, potassium chloride is the dominating sub-segment in the market. Approximately 80% of the salt substitutes market comprises potassium chloride. This is because potassium chloride tastes similar to table salt and provides the same ionic and functional benefits as regular salt with lower sodium content.
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.
Key Takeaways
The global salt substitutes market is expected to witness high growth, exhibiting CAGR of 5.67% over the forecast period, due to increasing health concerns among consumers related to excessive sodium intake.
Regional analysis shows that North America dominates the global salt substitutes market, accounting for over 35% of the total market share in 2021. This is attributed to rising obese and diabetic population in the US and Canada promoting the use of salt substitutes. Asia Pacific is expected to witness the fastest growth owing to growing health and wellness trend in major countries like China and India.
Key players operating in the salt substitutes market are 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. dominates the market with over 20% share due to its wide geographic presence and diverse product portfolio of potassium chloride salt substitutes. Koninklijke DSM N.V is another leading player focused on innovation and new product development.
