Persistence Market Research (PMR) recently published a report which lends a holistic view of the micronized salt market for the period 2018 – 2028. The main focus of this comprehensive report is to provide key insights into the underlying developments and opportunities to the distributors, suppliers, and manufacturers of the micronized salt market.
The market study describes the dynamics that have a direct impact on the growth of the micronized salt market. The market estimation has been done in volume (tons) and value (US$ Mn). The report incorporates key market volume projections, pricing analysis, market size projections, absolute dollar opportunity analysis, and demand-supply analysis of the micronized salt market.
Micronized Salt Market: Purview of the Report
The comprehensive report also offers valuable insights into the opportunities, value forecasts, restraints, drivers, and trends affecting the micronized salt market. Robust methodology has been devised to draw precise information and arrive at an accurate forecast for this report. Interviews with the manufacturers and industry experts have been carried out to fetch important data about the micronized salt market.
Primary and secondary sources have been utilized to obtain key insights on the micronized salt market. The secondary sources include the study of press releases, white papers, industry presentations, association publications, and annual reports of the company, apart from industry magazines and paid database subscriptions. A host of these researches aid in deriving statistics, base year numbers as well as market hypothesis.
Several macroeconomic and microeconomic factors have been analyzed, in order to offer an incisive view of the micronized salt market. Key market drivers of micronized salt such as per capita food growth & beverage consumption, economic performance, sector performance, performance of the top players, and chemicals industry growth. The research framework further includes key financial ratios, analysis of market attractiveness, macroeconomic factor performance, and y-o-y growth projections are studied closely to draw accurate estimates.
Micronized Salt Market: Key Segmentation
An analysis of the market attractiveness has been studied on the basis of grade, application, and region. Depending on the grade, the micronized salt market is bifurcated into purity above 99.5% and purity between 98% to 99.5%. Based on the applications, the micronized salt market can be fragmented into canned or preserved fruits and vegetables, beverages, milk and dairy products, meat, sea foods, and poultry, and bakery and confectionery products.
On the basis of the regions, the micronized salt market can be divided into India, Japan, China, the Middle East and Africa, Eastern Europe, Latin America, South East Asia and Pacific, Western Europe, and North America. A detailed market size based on the historical data has been highlighted in the report for 2013 to 2017. In addition to this, the current and future market size has been forecasted in this detailed report. A brief analysis of the country-wise market attractiveness has been assessed in the report, in order to help the stakeholders of the micronized salt market with authentic information.
Micronized Salt Market: Competitive Landscape
The market study on micronized salt lends an incisive view of the emerging as well as leading players, which include K+S Aktiengesellschaft, Tata Chemicals Ltd., Ciech S.A., AkzoNobel N.V., Dominion Salt Limited, INEOS Group Limited, AB Hanson and Mohring, Kensalt Ltd., Cerebos Ltd., ACI Limited, Cheetham Salt Limited, WA Salt Group, Infosa, Zoutman NV, Nirma Limited, China Salt Jintan Co., Ltd., BGR International Ltd., Suedwestdeutsche Salzwerke AG, Australian Saltworks, GHCL Ltd., Marico Ltd., Cargill Ltd., Kutch Brine Chem Industries, and Keya Foods, among others. A dashboard comprising of key players have been included in the report, which sheds light upon the mergers, expansions, and acquisitions happening in the micronized salt market.
Micronized salt finds a broad spectrum of application in the food and beverage industry, on the back of its finely powdered form utilized to achieve enhanced solubility. With the fast-track lifestyle led by the consumers, demand for ready-to-eat food products has been widely prevalent. As a result, there has been an increase in the demand for a longer shelf life of food products, which is fulfilled by the micronized salt.
Increasing popularity of micronized salt in the processed food industry can be attributed to its consistency and purity. In addition to the processed food, micronized salt deemed as an ideal flavoring agent extends the shelf life of vegetables and meat. Extensive use of micronized salt in end-use applications such as milk and dairy products, bakery and confectionery products, and beverages is expected to drive steady growth to the global micronized salt market.
As micronized salt has a purity level of about 98%, the manufacturers of the industry are rapidly replacing the traditional solar salt with micronized salt, in order to curtail the impurity level and have high efficiency for numerous food & beverage applications. A host of these factors are predicted to fuel the growth of the global micronized salt market with a promising CAGR of 3.6% and a value of US$ 3,305.8 Mn by the end of 2028.
Emergence of Salt Replacers to Negatively Impact the Growth of the Global Micronized Salt Market
According to the 2015 to 2020 Dietary Guidelines for Americans, the daily sodium requisite for Americans is below 2,300 mg to maintain their health, which is 3,400 mg as reported by the U.S. Center for Diseases Prevention & Control. Rising health consciousness among consumers has encouraged them to adopt salt replacers since high consumption of sodium leads to numerous sedentary diseases.
With the convergence of technology and food industry, manufacturers of the micronized salt market have been successful in eliminating the bitter flavor of potassium salt by utilizing bitterness blockers. This is anticipated to be rapidly adopted by the salt sensitive population of the world and in turn, challenge the growth of the global micronized salt market.
Bakery and Confectionery Products Hold the Largest Share in the Micronized Salt Market among the Other Segments
Depending on the end-use applications, the global micronized salt market has been bifurcated into bakery and confectionery products, milk and dairy products, meat, seafood and poultry, beverages, prepared meals, and preserved fruits and vegetables. On the whole, bakery and confectionery products hold the largest share in the global micronized salt market with an estimated valuation of US$692.4 Mn through 2028, owing to the rising demand for cakes, breads, and similar baked products.
North America to Remain the Most Revenue-generating Region for the Global Micronized Salt Market
Based on the regions, the micronized salt market is fragmented into India, Japan, China, the Middle East and Africa, Eastern Europe, Latin America, South East Asia and Pacific, Western Europe, and North America. Among these regions, North America remains the prime revenue-generating region for the global micronized salt market, owing to the high consumption of processed food in this region.
Leading Players Transforming the Landscape of the Global Micronized Salt Market
According to the report, the leading players of the micronized salt market consists of K+S Aktiengesellschaft, Tata Chemicals Ltd., Ciech S.A., AkzoNobel N.V., Dominion Salt Limited, INEOS Group Limited, AB Hanson and Mohring, Cheetham Salt Limited, Kensalt Ltd., WA Salt Group, ACI Limited, Nirma Limited, Cerebos Ltd, Infosa, Zoutman NV, China Salt Jintan Co., Ltd., BGR International Ltd., Suedwestdeutsche Salzwerke AG, Australian Saltworks, GHCL Ltd., Cargill Inc., Keya Foods, Marico Limited, and Kutch Brine Chem Industries, among others. An in-depth analysis of each of these regions, along with their business strategies and recent developments happening in the micronized salt market has been incorporated in the study.