Apart from being the largest market for SRI in the Asia-Pacific, accounting for an estimated share of 35% in 2014, China is also likely to emerge as the fastest growing, at a CAGR of over 10% between 2016 and 2021.
China SRI Market Dynamics
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 knowledge with regard to the detrimental effects of excessive intake of salt, improvement in taste and increased demand for processed foods.
China SRI Market Segmentation
The 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.
Mineral salts form the largest segment, with a share estimated to be about 52% in 2014, though demand growth is expected to be fastest from yeast extracts. Meats and meat products dominate the market for SRI in China, with the fastest growth in demand also anticipated from this key application area.