Europe Sodium Reduction Ingredient Market - Growth, Trends, and Forecast (2018-2023)
The Europe sodium reduction ingredient market is expected to grow at a CAGR of 12% during the forecast period from 2018 to 2023. The demand for these products in the region is likely to witness a rapid growth as countries, such as UK and Germany with a large population of hypertensive individuals that have been advised to either cut down on or completely eliminate their sodium intake would be instrumental in propelling growth for SRI.
Versatility in its application has provided the requisite impetus to these health-promoting products. By product type, South Americas market for mineral salts is the largest, while fastest growth in demand is expected to be posted by yeast extracts. Snacks and meat products corner the largest combined share of SRI in the region, which are also forecasted as the fastest growing application areas. Some of the major factors driving demand for SRI include the greater emphasis on health nutrition, the growing knowledge with regard to the detrimental effects of excessive intake of salt, improvement in taste, and increased demand for processed foods.
The European SRI market is segmented by type into amino acids & glutamates, mineral salts, yeast extracts, and others. By application, it is segmented into bakery & confectionery, condiments, seasonings & sauces, dairy & frozen foods, meat & meat products, and other snacks. By application, largest consumption of SRI has been observed in meats and meat products, followed by snacks, with these two areas also expected to grow fast.
Europe is slated to emerge as the fastest growing global market for SRI, with the prospect of posting a CAGR of over 12%, during the forecast period, 2018-2023. Germany and the United Kingdom are the two largest regional markets for SRI in Europe, with a collective share of nearly 50% as estimated in 2017.