April 24, 2024

Salt Substitutes Market To Grow Significantly Due To Growing Health Consciousness Among Consumers

The global salt substitutes market has been growing significantly over the past few years owing to the rising health consciousness among consumers. Salt substitutes are sodium-free or low-sodium seasoning alternatives that are used in place of table salt in cooking and as condiments. Some common salt substitutes include potassium chloride, calcium chloride, and magnesium chloride. These products offer similar taste to that of salt but with lower or no sodium content which is beneficial for heart health. The increasing incidence of lifestyle diseases like hypertension has been driving the demand for healthier food options with less sodium. Salt substitutes help in reducing the intake of sodium which is a major risk factor for high blood pressure.

The global Salt Substitutes Market is estimated to be valued at Us$ 1.41 Bn in 2024 and is expected to exhibit a CAGR Of 7.7% over the forecast period 2024 To 2030.

Salt substitutes are available in various forms including powder, liquid, cube, etc to cater to different cooking needs. They not only enhance the taste but also help people cut down on salt consumption without compromising on flavor. With growing awareness, more people are opting for salt substitutes as a healthier alternative in their daily diet.

Key Takeaways

Key players operating in the Salt Substitutes Market are Keysight Technologies Inc., Rohde & Schwarz GmbH & Co. KG, Agilent Technologies, Inc.,Anritsu Corporation, TDK-Lambda Corporation, Advanced Energy Industries, Inc., Tektronix, Inc., Amplifier Research (AR),Thales Group, Teradyne, Inc., National Instruments Corporation, AMETEK, Inc., Boonton Electronics (Wireless Telecom Group), Electronics & Innovation, Ltd., NoiseXT. These companies are focusing on new product launches and marketing strategies to strengthen their market position.

The key opportunities in the salt substitutes market include nutritional claims by manufacturers, expanding in emerging economies, and new product developments catering to nutritional needs of different consumer groups like diabetics, athletes, etc.

Globally, the salt substitutes market is expanding rapidly with growing health-consciousness. The Asian countries especially India and China are emerging as lucrative markets owing to increasing disposable income, growing awareness about preventive healthcare, and focus on wellness trends. Manufacturers are focusing on these regions for geographical expansion and business growth.

Market Drivers

The major market driver for salt substitutes is the rising incidence of lifestyle diseases due to excessive salt intake. High blood pressure affects nearly 1.13 billion people globally and is a primary risk factor for heart attacks and strokes. Increasing health issues have encouraged people to minimize salt consumption through healthy substitutes. Furthermore, new product lines focused on specific nutritional needs like keto variants are expanding the market outreach. Growing nutrition awareness through social media campaigns is also driving the demand for salt substitutes worldwide.

PEST Analysis

Political: The salt substitutes market is impacted by regulations pertaining to artificial ingredients and health claims. Regulations tend to differ across countries and regions.

Economic: Rising disposable incomes and health awareness is driving demand for healthier options like salt substitutes. However, high costs of R&D can pose challenges for smaller players.

Social: Growing consumer preference for low-sodium and healthy diets is a major factor driving the salt substitutes market. Social media is increasingly influencing purchase decisions regarding healthy products.

Technological: Manufacturers are focusing on developing innovative formulations using natural ingredients that come closest to real salt taste without the sodium. They are also utilizing advanced extraction and purification techniques to isolate key mineral salts.

Value concentration in geographical regions

The salt substitutes market in North America accounts for a major share in terms of value, led by the United States. This can be attributed to growing health awareness, availability of numerous product options, and high consumer spending capacity in the region.

Fastest growing region

The salt substitutes market in Asia Pacific region is expected to grow at the fastest rate during the forecast period. This is driven by rising health consciousness, expanding middle-class population and rapid urbanization in highly populous countries such as India and China. Increasing adoption of western food habits is further supporting the market growth in the Asia Pacific region.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it