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Global sodium reduction market: $1 billion valuation expected by 2018
Sodium Reduction Market: Global Trends & Forecasts to 2018 - a new market research report on 2014-04-23 07:02:02
The global sodium reduction market is suggested to have reached a value of over $500 million at the end of 2012, and is forecast to grow to a total of over $1 billion by 2018. This suggests a CAGR growth rate of around 11% between 2013 an 2018. 2012 saw North America as the key region for sodium reduction, followed by Europe and Asia-Pacific.
Increased focus on health nutrition and awareness about the adverse effects of excessive salt usage, improved taste, increasing demand for processed foods, etc. are the main stimulating forces for the food market. Mineral salts lead the market followed by yeast extracts. The yeast extracts naturally contain umami flavor and hence can be used as an enhancer for other flavors. Because of its original characteristics and extended line of applications, it depicts a faster growth than that of amino acids.
In 2012, North America´s share was the largest market followed by Europe. Europe was the fastest growing market followed by Asia-Pacific in 2012. Mineral salts led the food market with more than half of the market share. Yeast extracts formed the second largest market due to its multi-functional abilities. Sauces, seasonings, and snacks led the applications market for food, followed by meat products. Other application areas such as breakfast cereals, baby foods, and other processed foods formed the fastest growing application segment with a CAGR of 11.6%.
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