Persistence Market Research delivers key insights on the global mineral salt ingredients market in a newly published report titled “Mineral Salt Ingredients Market: Global Industry Analysis and Forecast, 2016 - 2024.” In terms of revenue, the global mineral salt ingredients market is estimated to register a promising CAGR of 5.1% over the forecast period, owing to numerous factors, about which Persistence Market Research offers thorough insights and forecasts in this report.
Minerals salt ingredients normally occur in the form of chemical compounds and most often they are crystalline and abiogenic in origin. Every person uses products made from minerals in day-to-day life. The mines and sea water are the major sources of mineral salt ingredients although plants, dairy products, meat, fruits, flowers, grains, and oil are also considered important sources of organic mineral salt ingredients. Mineral salt ingredients are most widely used in industries such as agriculture, food and beverages, and pharmaceuticals.
Key market dynamics
The factors fuelling demand for the global mineral salt ingredients market are deficiency of mineral salt ingredients leading to multiple health problems, increasing prevalence of chronic diseases, presence of a large chunk of population over 65 years, increasing demand for mineral salts in the cosmetics and personal care industry, rising demand from the food and beverages industry, and increase in awareness about a nutrient and mineral salt ingredients rich diet. Mineral salt ingredients possess various medical properties and work as an anti-aging formula and this is likely to further fuel revenue growth of the global mineral salt ingredients market. Increasing urbanization, changing lifestyles of people, and rapid advancements in product offerings are other factors likely to boost the growth of the global mineral salt ingredients market during the forecast period.
The global mineral salt ingredients market is segmented by product type into Micro Mineral salt ingredients and Macro Mineral salt ingredients (Sodium, Potassium, Chloride, Calcium, Phosphorus, Magnesium); by application into Dairy products, Infant formula, Functional food, Cosmetics and personal care, Pharmaceuticals, Agriculture, and Others; and by Region into North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
Among the product type segments, the Macro Mineral salt ingredients segment is expected to exhibit the highest revenue growth, followed by the Micro Mineral salt ingredients segment over the forecast period. The Macro Mineral salt ingredients segment is expected to register a significant CAGR of 5.1% during the forecast period in terms of value. The Micro Mineral salt ingredients segment is projected to grow at a significant CAGR of 5.2% over the forecast period in terms of value. Among the application segments, the Functional food segment is expected to register a CAGR of 7.8% over the forecast period.
Among regions, the Asia Pacific (APAC) market has been estimated to dominate the global mineral salt ingredients market, accounting for a maximum revenue share of the market by 2016 end. Europe is expected to account for over 25.3% revenue share of the global mineral salt ingredients market by 2016 end. Among the emerging markets, Latin America is estimated to exhibit a significant CAGR of 4.7% over the forecast period, followed by the North America market, due to an emerging trend of the adoption of functional foods as a rich source of mineral salt ingredients.
The global mineral salt ingredients market report profiles some of the leading companies operating in this market. Corbion, Minerals Technologies Inc., Compass Minerals International Inc., Albion Laboratories, Inc., Dr. Paul Lohmann GmbH KG, K+S AKTIENGESELLSCHAFT, Gadot Biochemical Industries Ltd., Arla Foods amba, DuPont, Jungbunzlauer Suisse AG, SEPPIC, and Koninklijke DSM N.V. are some of the companies featured in the report. Leading market players are focusing on new market expansion through strategic mergers and acquisitions and joint ventures and are making significant investments in research and development activities to launch new products and cement their foothold in the global mineral salt ingredients market.