Gourmet salts are naturally harvested, unrefined, high-quality salts that are generally used exotic gourmet cuisines with enhanced flavor, taste, and texture. The global market for gourmet salts attracts multibillion dollar revenues, and is predicted to witness moderate growth in the near future. A newly published report by Persistence Market Research examines the global market for gourmet salts in detail, for a 10-year forecast period, 2015-2025.
The report starts with an overview of the global gourmet salts market and usage of these salts in various applications across the globe. In the same section, PMR covers the global gourmet salts market performance in terms of revenues and consumption. This section includes PMR’s analysis of key trends, drivers, and restraints from supply and demand perspectives. Impact analysis of key growth drivers and restraints, based on the weighted average model, is included in this report to better equip clients with crystal clear decision-making insights.
To understand and assess the consumption pattern and opportunities in the global gourmet salts market, the global market for gourmet salts is bifurcated in various segments on the basis of the type of salt and the application area. The report also segments the global gourmet salts market into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (excluding Japan), the Middle East and Africa, and Japan. The report provides detailed information about various trends driving each of the type and application based segments, and offers important insights into the growth potential of the gourmet salts market in each geographical region.
The last part of the report focuses on the leading companies competing in the global marketplace. This section profiles some of the top players attracting major revenues to the market. J.C. Peacock is the major distributor profiled in this report. The report analyzes the global gourmet salts market in terms of market value (US$ Mn) and shipment (tons).
To deduce the global gourmet salts market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type, vehicle type, and distribution channel; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global gourmet salts market.
The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global gourmet salts market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the global gourmet salts market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global gourmet salts market. Further, to understand key segments in terms of their growth and overall global gourmet salts market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global gourmet salts market.
Naturally harvested, untreated sea salts are generally referred to as gourmet salts. These salts enhance the flavor and dressing of food products, imparting them a little moisture and exotic flavor. With the demand for gourmet foods consistently on the rise, the demand for gourmet salts is also propelling since the past few years. The global gourmet salts market attained a value of US$ 1.12 Bn in 2015, and it is foreseen to reach up to US$ 2.19 Bn by 2025 end. During the forecast period 2015-2025, the market is anticipated to expand at a moderate CAGR of 6.9%.
Key Market Dynamics
Increasing urbanization, the rising wave of westernization, and growing popularity of natural or organic food products is one of the key factors driving the demand for gourmet salts on a global level. Gourmet salts are known to have better solubility. In addition, they are enriched with mineral content. The exotic flavor they offer to food products is unmatched. These advantages of gourmet salts will remain the key drivers sustaining the demand in the global market. Since naturally harvested, these salts are devoid of any additives and represent lower sodium content. Growing health consciousness worldwide will also fuel the demand. Following increasing incidences of disorders resultant of high sodium levels in body, this is a major factor that is expected to boost the demand for gourmet salts in the near future. The demand for gourmet food is increasing since the past few years, eventually bolstering the market for gourmet salts as well. Several live cooking shows promote gourmet salts and other gourmet food products, which will further push the market through to 2025. The industry consistently observes new, innovative product launches, fostering the market growth.
Limited availability, coupled with expensive cost, will remain the key factors limiting the market penetration during 2015-2025. In addition, the adoption rate of natural salts is much lower compared to treated salts. This is also identified a major challenge hampering the market growth.
Based on the product type, the global gourmet salts market is bifurcated into coarse salt, flake salts, fleur de sel, sel gris, Indian pink salt, Italian salts, smoked salts, and others. In 2015, the fleur de sel segment accounted for almost 20% of the entire gourmet salts market value. In terms of revenues, this segment is estimated at a CAGR of 7.5%, whereas in terms of shipment, the expected CAGR is of 7.3% over the forecast period. Another major segment is of the coarse salt, which will reportedly account for over 18% share of the market by 2025 end. In terms of revenues, this segment will register the fastest CAGR of 7.7% over 2015-2025. By application, the global market for gourmet salts will witness the highest growth in the meat and poultry segment. This segment is projected to account for over 30% share of the entire market, expanding at a CAGR of 7.5% during the forecast period. Other application segments include bakery and confectionary, seafood, sauces and savory, and desserts and frozen food. The growth of the meat and poultry segment is attributed to the rise in the adoption of gourmet recipes in households.
The regional analysis of the global gourmet salts market indicates that that market is highly concentrated in Western Europe, which is the largest as well as fastest growing market over 2015-2025. Western Europe will account for over 32% share of the global market revenues, expanding at the highest CAGR of 7.3% during the forecast period, in terms of value. However, North America is also anticipated to witness a significant CAGR of 7.2% in terms of shipment.
Key Market Players
The global gourmet salts market is operated by a number of key players. Some of the leading companies are Cargill, Incorporated, Morton Salt, Inc. (K+S Aktiengesellschaft), SaltWorks, Inc., CK Life Sciences Int’l., (Holdings) Inc. (Cheetham Salt Limited), Amagansett Sea Salt Co., Murray River Gourmet Salt, INFOSA, Pyramid Salt Pty. Ltd., and The Marblehead Salt Co. LLC..
Key players in global gourmet salts market:
Major distributors profiled in this reports: