Though the market share for SRI in South America is worlds’ smallest, accounting for an estimated share of only 8% in 2016, the region is slated to record an impressive CAGR of over 9% during 2017-2022. Brazil dominates the South American market for SRI, with 54% market share in 2016. The region is also likely to emerge as the fastest growing, with the prospect of registering a CAGR of about 9.5% between 2017 and 2022. 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.
South America 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.
South America 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.