The global market for sodium reduction ingredients is projected to grow at a CAGR of 11.0% from 2014 to 2019. North America is estimated to account for a majority share in global sodium reduction ingredients market in 2014. Europe is projected to be the fastest-growing market, as studied up to 2019, followed by Asia-Pacific.
Taking in consideration the types for sodium reduction ingredients, mineral salts are estimated to account for the largest market share. The ‘others’ segment, which includes hydrolyzed vegetable protein, trehalose, and nucleotides, is projected to grow at the highest CAGR. The sodium reduction ingredients market is growing because of advancements in various research and development programs in the industry.
The sodium reduction ingredients market is fragmented, with few of players capturing a considerable portion of the overall market. The market is acquired by few large-scale and many small- and medium-scale players. However, the key players identified in the sodium reduction ingredients market are Cargill, Inc. (U.S.), Kerry Group PLC (Ireland), Tate & Lyle PLC (U.K.), and Novozymes A/S (Denmark).
Sodium Reduction Ingredients Market Share Analysis, by Company, 2014
Source: Industry Journals, Company Presentation, and MarketsandMarkets Analysis
The top three players in the sodium reduction ingredients market collectively capture a huge share of 51.56%. Kerry Group PLC is identified as the leading player in the sodium reduction ingredients market. The wide product portfolio of the company and the ability to cater to the main application markets such as dairy, meat products, bakery, and confectionary has propelled the company to the leading position.
Sodium Reduction Ingredients Market by Types (Amino Acids, Mineral Salts, and Yeast Extracts), Applications (Dairy, Bakery & Confectionary, Meat Products, and Sauces, Seasonings & Snacks) & Geography - Global Trends & Forecasts to 2019
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