The South America sodium reduction ingredient market is expected to register a CAGR of 9%, during the forecast period of 2018 – 2023. The demand for these products in the region is likely to witness a rapid growth as countries, such as Brazil and Argentina with a large population of hypertensive individuals that have been advised to either cut down on or completely eliminate their sodium intake would be instrumental in propelling growth for SRI.
Versatility in its application has provided the requisite impetus to these health-promoting products. 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. 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.
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. By application, largest consumption of SRI has been observed in meats and meat products, followed by snacks, with these two areas also expected to grow fast.
Though the market share for SRI in South America is worlds’ smallest, accounting for an estimated share of only 10% in 2017, the region is slated to record an impressive CAGR of over 9%, during 2018-2023. Brazil dominates the South American market for SRI, with 52% market share in 2017.
Major Players: ADM, Angel Yeast Co. Ltd., Biospringer, Bunge Ltd, Cargill Inc, Danisco A/S, Kerry Group, Novozymes A/S, Ohly Americas, Purac Biochem BV, Royal DSM NV, Tate & Lyle Plc, among others.
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