Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| CAGR: | 9.58 % |
|
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Market Overview
The Mexican sodium reduction ingredients market was valued at USD 104.55 million in 2020, and it is projected to grow at a CAGR of 9.58% during the period of 2021-2026.
In order to control the spread of coronavirus, the Mexican government initiatives further enhanced consumer awareness regarding low-sodium products during the pandemic. By September 2020, more than 70,000 Mexicans have died from COVID-19, among which two-thirds of those had an underlying medical condition, such as obesity, diabetes, hypertension, and cardiovascular problems, according to health officials.
The market is majorly driven by increasing awareness regarding the health effects of excessive sodium consumption. Its increasing application in confectionaries, bakery products, frozen foods, and dairy products is expected to complement the market growth further.
Furthermore, sodium reduction ingredients are gaining prominence in food flavors and preparations, such as seasonings and sauces, as these ingredients also act as masking agents that remove bitterness and metallic after-taste in food products. This is expected to strengthen its market demand in the country further.
Scope of the report
Sodium reduction ingredients are used for reducing salt content from the food products either by replacing the salt from the food or partially reducing the excess salt from the food products. The Mexican sodium reduction ingredients market is segmented by product type and application. By product type, the market is categorized into amino acids and glutamates, mineral salts, yeast extracts, and other product types ( others include hydrolyzed vegetable protein and trehalose). The market is also segmented by application into bakery and confectionery, condiments, seasonings and sauces, dairy and frozen foods, meat and meat products, snacks, and other applications. For each segment, the market sizing and forecasting have been done in value terms of USD million.
| By Product Type | |
| Amino Acids and Glutamates | |
| Mineral Salts | |
| Yeast Extracts | |
| Other Product Types |
| By Application | |
| Bakery and Confectionery | |
| Condiments, Seasonings, and Sauces | |
| Dairy and Frozen Foods | |
| Meat and Meat Products | |
| Snacks | |
| Other Applications |
Key Market Trends
Rising Awareness Toward Heath Effects of High Sodium Intake
The higher salt or sodium consumption in Mexico has been a major concern among local consumers, for it has contributed to several health-related deaths in the country, including stroke, heart failure, osteoporosis, stomach cancer, and kidney disease. According to the statistics by the National Institute of Statistics and Geography (INEGI), the most common death in the country was due to heart conditions, accounting for 171.87 thousand deaths in 2020. As a result, the government of the nation and other organizations are taking distinct initiatives to regulate the consumption of sodium in the country. Accordingly, in recent years, consumer awareness regarding the ill effects of higher sodium intake has increased, thereby insisting they widely incline toward low-sodium products in order to control hypertension rates and maintaining normal blood pressure.
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Mineral Salts Accounted for the Largest Share
Mineral salts are the most consumed form of sodium reduction ingredient among consumers across the country as it contains potassium chloride, which offers flavor without increasing daily sodium intake as a substitute of salt, along with being a healthy alternative to salt. Compared to its counterparts, its low cost makes it a more preferred choice among all the sodium reduction ingredients. Therefore, the demand for mineral salts in the food and beverage industries, such as bakery and dairy, has increased extensively. Companies like Cargill are leading mineral salt suppliers to the food processing industry in the Mexican marketplace. The company offers the broadest lines of mineral salt products available, including potassium salts such as Potassium Pro Potassium Chloride and Potassium Pro Ultra Fine Potassium Chloride. The company also offers bulk mineral salt or bagged mineral salt with or without additives to cater to the customized demand of the customer.
Competitive Landscape
The Mexican sodium reduction ingredient market is competitive, owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies, along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the market include Cargill Incorporated, Kerry Group PLC, Koninklijke DSM NV, and Lallemand Inc., among others.
Recent Developments
In 2020 - Royal DSM unveiled a complete portfolio of plant-based meat alternatives. The new range is designed to enhance taste, texture, and nutritional value, while managing sodium content in meat alternative applications. The new range includes yeast extracts, process flavors, nutritional ingredients, and hydrocolloids. Some of its solutions are Maxarome Select, Multirome, Maxavor, Gellaneer, DSM’s Quali Vitamins, DSM Premix Solution, and Maxavor RYE LS.
In 2017 - Lallemand Bio-Ingredients launched Prime-Lyfe 175A, a yeast extract having a unique concentrated combination of peptides and amino acids, including glutamic acid and a clean flavor donation for a more powerful taste enhancement with salt reduction property.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Amino Acids and Glutamates
5.1.2 Mineral Salts
5.1.3 Yeast Extracts
5.1.4 Other Product Types
5.2 By Application
5.2.1 Bakery and Confectionery
5.2.2 Condiments, Seasonings, and Sauces
5.2.3 Dairy and Frozen Foods
5.2.4 Meat and Meat Products
5.2.5 Snacks
5.2.6 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Cargill Incorporated
6.3.2 Kerry Group Plc
6.3.3 Lallemand Inc
6.3.4 Lesaffre International
6.3.5 Angel Yeast Co. Ltd
6.3.6 Sensient Technologies Corporation
6.3.7 Corbion NV
6.3.8 Koninklijke DSM NV
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Mexico Sodium Reduction Ingredients Market market is studied from 2016 - 2026.
What is the growth rate of Mexico Sodium Reduction Ingredients Market?
The Mexico Sodium Reduction Ingredients Market is growing at a CAGR of 9.58% over the next 5 years.
Who are the key players in Mexico Sodium Reduction Ingredients Market?
Cargill, Incorporated, Kerry Inc., Lallemand Inc. , Koninklijke DSM NV, Lesaffre International are the major companies operating in Mexico Sodium Reduction Ingredients Market.
