Australia Sodium Reduction Ingredients Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.23 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Sodium Reduction Ingredients Market Analysis
Australia Sodium Reduction Ingredients Market is projected to reach a CAGR of 3.23% during the forecast period 2020 - 2025.
- Excessive intake of sodium leads to a number of adverse health effects, hypertension being foremost among them. Alleviating these conditions to some extent has been possible through the use of SRI, such as mineral salts, amino acids, and yeast extracts. Versatility in its application has provided the requisite impetus to these health-promoting products.
- Some of the major factors driving demand for SRI include the greater emphasis on health nutrition, the growing awareness with regard to the detrimental effects of excessive intake of salt, improvement in taste, and increased demand for processed foods.
Australia Sodium Reduction Ingredients Market Trends
This section covers the major market trends shaping the Australia Sodium Reduction Ingredients Market according to our research experts:
Increasing Consumption of Bakery Products
The consumption of bakery products in Australia is expected to increase, assisted by the growth in country population, development in the retail market, and stable economic growth. Moreover, manufacturers are involved in gregarious research and development in order to introduce new products with innovative flavors & healthy ingredients and growth in the retail market are expected to drive the demand in the near future. Moreover, the growing knowledge with regard to the detrimental effects of excessive intake of salt, improvement in taste, and increased demand for sodium reduction ingredients in bakery products.
Mineral Salts holds the Largest Market Share in the Market Studied
Mineral salts, such as potassium chloride, magnesium sulphate, calcium chloride, and potassium lactate, among others, are widely used as SRIs, owing to their widespread availability and potential to replace normal salt in terms of its functionalities and taste. For example, Potassium chloride (KCL) is the most preferred SRI among mineral salts, due to its similar taste profile like salt (NaCl). Furthermore, food manufacturers use different mineral salts when they are formulating low-sodium or reduced-sodium products. This salt substitute provides a seasoning alternative for manufacturers looking to reduce sodium, while also maintaining flavor by using salts, like potassium chloride, to imitate salt (sodium chloride) in food products, which in turn boosting the market studied.
Australia Sodium Reduction Ingredients Industry Overview
The key players in this market have been involved in the process of developing a range of customized solutions to target the specific needs of the food manufacturers and consumer health. Thus, the sodium reduction ingredients market has been gaining more global presence and acceptance among authorities. Some of the major key players in the sodium reduction ingredients market in Australia include Biospringer, Tate & Lyle Plc, Koninklijke DSM N.V, Sensient Technologies Corp among others.
Australia Sodium Reduction Ingredients Market Leaders
Givaudan SA
Tate & Lyle Plc
Kerry Group Plc
Corbion NV
*Disclaimer: Major Players sorted in no particular order
Australia Sodium Reduction Ingredients Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables and Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product Type
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5.1.1 Amino Acids & Glutamates
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5.1.2 Mineral Salts
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5.1.3 Yeast Extracts
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5.1.4 Others
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5.2 By Application
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5.2.1 Bakery & Confectionery
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5.2.2 Condiments, Seasonings & Sauces
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5.2.3 Dairy & Frozen Foods
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5.2.4 Meat & Seafood Products
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5.2.5 Snacks and Savoury Products
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5.2.6 Others
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Biospringer
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6.3.2 Tate & Lyle Plc
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6.3.3 Koninklijke DSM N.V
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6.3.4 Givaudan SA
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6.3.5 Sensient Technologies Corp
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6.3.6 Kerry Group Plc
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6.3.7 Corbion NV
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Australia Sodium Reduction Ingredients Industry Segmentation
Australia Sodium Reduction Ingredients Market is segmented by product type and application. On the basis of product type, the market is segmented into Amino Acids & Glutamates, Mineral Salts, Yeast Extracts, and Others. On the basis of application, the market is segmented into Bakery & Confectionery, Condiments, Seasonings & Sauces, Dairy & Frozen Foods, Meat & Meat Products, Snacks, Others.
| By Product Type | |
| Amino Acids & Glutamates | |
| Mineral Salts | |
| Yeast Extracts | |
| Others |
| By Application | |
| Bakery & Confectionery | |
| Condiments, Seasonings & Sauces | |
| Dairy & Frozen Foods | |
| Meat & Seafood Products | |
| Snacks and Savoury Products | |
| Others |
Australia Sodium Reduction Ingredients Market Research FAQs
What is the current Australia Sodium Reduction Ingredients Market size?
The Australia Sodium Reduction Ingredients Market is projected to register a CAGR of 3.23% during the forecast period (2024-2029)
Who are the key players in Australia Sodium Reduction Ingredients Market?
Givaudan SA, Tate & Lyle Plc, Kerry Group Plc and Corbion NV are the major companies operating in the Australia Sodium Reduction Ingredients Market.
What years does this Australia Sodium Reduction Ingredients Market cover?
The report covers the Australia Sodium Reduction Ingredients Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Sodium Reduction Ingredients Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Sodium Reduction Ingredients Industry Report
Statistics for the 2024 Australia Sodium Reduction Ingredients market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Sodium Reduction Ingredients analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
