A newly compiled business intelligence study at the headquarters of Persistence Market Research (PMR) has detected that the shares in the global gourmet salts market are distributed among two different chunks of organized and unorganized players. While the first half constitutes of players such as Cargill, Incorporated, INFOSA, SaltWorks, Inc., Morton Salt, Inc., CK Life Sciences Int’l., (Holdings) Inc., and Pyramid Salt Pty. Ltd., the other half of the shares is with local and domestic players.
Prominent Players Catering to all Application Segments
Most of the major players are indulged into catering to all important application segments of gourmet salts, including bakery and confectionery, seafood, and meat and poultry. For instance, Cargill Inc. operates in the gourmet salts market through the Cargill Sea Salts brand and offers various products such as Sea Salt Grinder, Sea salt topping, Sea Salt Extra Coarse Topping, and FlakeSelect Sea Salt. On the other hand, Mortan Salt, Inc. offers gourmet salts under the Morton Sea Salt brand, which is used for adding gourmet flavor to various food products such as poultry, beef and vegetable dishes. The salt is available in fine and coarse sizes. Currently, the company is focused on enhancing its presence in the China market through various new product launches, expansion of production facilities, and strategic partnerships with regional players in order to cater to growing demand for salt products in the country.
Global Gourmet Salts Market to be Worth US$ 2,194.8 mn by 2025
If the projections of the analyst of this PMR report are to be believed, the demand in the global gourmet salts market will expand at a CAGR of 7.5% in terms of value during the forecast period of 2017 to 2025. Revenue-wise, it has been evaluated that the gourmet salts market provided opportunity worth US$1,277.2 mn in 2017 and the market’s valuation will rise up to US$2,194.8 mn by the end of 2025.
On the basis of product type, the PMR report has segmented the gourmet salts market into indian black salt, sel gris, smoked sea salt, flake salt, fleur de sel, Italian sea salt, coarse salt, and others. Application-wise, the market for gourmet salts is bifurcated into meat and poultry, bakery and confectionery, dessert and frozen food, sauces and savory, and seafood. Geographically, Western Europe and North America have been identified as the regions of most lucrativeness. While the Western Europe gourmet salts market is estimated to be worth US$732.1 mn by the end of 2025, the North American region is expected to provide for opportunities worth US$578.3 mn by the end of the forecast period.
Trend of Natural Food Ingredients Driving Demand
Rising preference of healthy convenience food on the back of increasing disposable income and growing awareness among urban populations in developed and emerging economies, growing popularity of gourmet cuisines, and consistent launching of clean label specialty ingredients are some of the key factors driving the global gourmet salts market. Owing to the sheer profitability of this market, a number of newer players are making a foray and doing their share to increase awareness among their customers. This factors is foreseen to find newer demands in the near future and push the market forward. On the other hand, high processing cost and short shelf-life are a few restraints hindering the prosperity of the market.
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