April 20, 2024

The Salt Substitutes Market Is Trending Towards Healthier Alternatives

Salt substitutes describe non-sodium mineral mixtures that mimic the flavor of table salt. They typically contain potassium chloride, calcium chloride, or magnesium chloride. The rising popularity of low-sodium diets and adverse effects of high sodium intake have propelled the demand for salt substitutes in recent years. The products improve the taste of foods while limiting sodium content to support cardiovascular health and blood pressure management. The global salt substitutes market is gaining traction as they provide a quick and convenient method for reducing dietary sodium.

The Global Salt Substitutes Market is estimated to be valued at Us$ 1.41 Bn in 2024 and is expected to exhibit a CAGR Of 7.7% over the forecast period 2024 To 2030.

Salt Substitutes Market are blended seasonings that enhance the flavor of various food items like chips, snacks, seasonings, and sauces while cutting down on sodium content. They contain minerals like potassium chloride and magnesium sulfate that mimic the tastes of salt. Rising health consciousness and increasing cases of lifestyle diseases have boosted the need for low-sodium food options.

Key Takeaways

Key players operating in the salt substitutes market are Keysight Technologies Inc., Rohde & Schwarz GmbH & Co. KG, Agilent Technologies, Inc.,Anritsu Corporation, TDK-Lambda Corporation, Advanced Energy Industries, Inc., Tektronix, Inc., Amplifier Research (AR),Thales Group, Teradyne, Inc., National Instruments Corporation, AMETEK, Inc., Boonton Electronics (Wireless Telecom Group), Electronics & Innovation, Ltd., NoiseXT.

The increasing prevalence of lifestyle diseases caused by excessive sodium intake has augmented the demand for salt substitutes globally. Major food processing companies have launched low-sodium food variants using these mineral mixtures to cater to health-conscious consumers.

Key players are also expanding their operations across developing regions to tap the rising opportunities. Aggressive marketing campaigns have raised awareness about the health risks of high dietary salt, which is further propelling the sales of substitutes.

Market Key Trends

One of the major market trends fueling the adoption of salt substitutes is the growing preference for low-sodium diets. Health organizations worldwide recommend restricting sodium to less than 2,300mg per day to reduce blood pressure and cardiovascular disease risks. However, daily salt intake averages over 3,400mg globally. This has prompted consumers to switch to substitutes that provide the salty taste with much lesser sodium content. Product innovations involving umami-rich ingredients are also gaining traction as salt substitutes. Companies are developing new blends containing ingredients like yeast extract and monosodium glutamate that mimic the savory taste of salt. Alternative mineral mixtures and advanced formulations are expected to continue shaping the competitive landscape in the coming years.

Porter’s Analysis

Threat of new entrants: The salt substitutes market already has few well established players making market entry difficult for new companies. High R&D and marketing costs also pose barriers for new entrants.

Bargaining power of buyers: Individual consumers have low bargaining power due to availability of few substitutes. However, large food processing companies and food service providers have relatively higher bargaining power compelling suppliers to offer competitive prices.

Bargaining power of suppliers: Leading manufacturers have significant control over supply creating moderate level of bargaining power. Shortage of raw materials can influence prices of salt substitutes.

Threat of new substitutes: Ongoing research is exploring new plant-based sources as substitutes. However, limited availability and high costs restrict significant impacts currently.

Competitive rivalry: Major players compete on parameters of taste, health profile, composition and pricing intensifying competition.

Geographical regions with market concentration:

North America holds leading position accounting for over 35% of global market value due to growing health consciousness. Europe is second major market driven by increasing low-sodium food demand particularly in U.K., Germany and France.

Fastest growing region: Asia Pacific region except Japan is fastest growing market for salt substitutes expected to expand at around 9% CAGR during forecast period. Rapidly rising health awareness, growing disposable incomes and expanding food processing industry in countries like India and China will fuel high growth.

North America holds leading position accounting for over 35% of global market value due to growing health consciousness. Europe is second major market driven by increasing low-sodium food demand particularly in U.K., Germany and France. Asia Pacific region except Japan is fastest growing market for salt substitutes expected to expand at around 9% CAGR during forecast period. Rapidly rising health awareness, growing disposable incomes and expanding food processing industry in countries like India and China will fuel high growth.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it