NEW
YORK, July 26, 2024 /PRNewswire/ -- The
global salts and flavored salts market size is estimated
to grow by USD 11.30 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 8.09% during the forecast period. Strategies adopted
by leading players is driving market growth, with a trend
towards growing influence of online retailing.
However, health risks and diseases related to salt and sodium
poses a challenge. Key market players include Ajinomoto Co. Inc.,
Amagansett Sea Salt Co., Cornish Sea Salt Co. Ltd., El Nasr Salines
Co., HimalaSalt, Himalayan chef, Hoosier Hill Farm LLC, INFOSA, ITC
Ltd., KS Aktiengesellschaft, McCormick and Co. Inc., Olde Thompson, Red Monkey Foods Inc., SaltWorks
Inc., Suprasel, Tata Sons Pvt. Ltd., Twang Partners LLC, United
Salt Corp., Vancouver Island Salt Co., and Verlag A.Vogel AG.
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Salts And Flavored
Salts Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
8.09%
|
Market growth
2024-2028
|
USD 11304.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
7.32
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
31%
|
Key
countries
|
US, Germany, China,
India, and France
|
Key companies
profiled
|
Ajinomoto Co. Inc.,
Amagansett Sea Salt Co., Cornish Sea Salt Co. Ltd., El Nasr Salines
Co., HimalaSalt, Himalayan chef, Hoosier Hill Farm LLC, INFOSA, ITC
Ltd., KS Aktiengesellschaft, McCormick and Co. Inc., Olde Thompson,
Red Monkey Foods Inc., SaltWorks Inc., Suprasel, Tata Sons Pvt.
Ltd., Twang Partners LLC, United Salt Corp., Vancouver Island Salt
Co., and Verlag A.Vogel AG
|
Market Driver
The e-commerce sector's expansion has presented significant
opportunities for vendors in the salts and flavored salts market.
In 2023, e-commerce represented approximately 19% of global retail
trade, with online channels supporting both B2B and B2C operations.
The rising number of Internet users and the increasing preference
for online shopping have led to an increase in the average online
transaction value and the overall number of transactions. With
Internet penetration rates reaching 97.8% in the UK, customers
appreciate the convenience of shopping online and paying via credit
or debit cards. Online retailers have addressed security concerns
with advanced features, while user-friendly websites showcase
products effectively. This trend benefits manufacturers by
targeting tech-savvy consumers and reducing operational costs,
ultimately driving the growth of the global salts and flavored
salts market.
The Salts and Flavored Salts market is witnessing significant
growth due to increasing consumer demand for clean label products
and allergen avoidance. Herbs and spices are popular additives,
offering unique flavors to various food and beverage products.
Solubility and mineral content are key factors driving the market,
with applications ranging from salads and sauces to packaged foods,
savory products, and even fish, meat, and grilled vegetables.
Normal salt alternatives like chili, lemon, garlic, ginger, onion,
and others are trending, catering to Western culture and changing
consumer eating habits. The food service industry is also embracing
these natural food products for their nutritional benefits and
cost-effectiveness. Commercialization of healthy alternatives, such
as vitamin and mineral-fortified flavored salts, is on the rise,
offering longer shelf life and catering to the growing demand for
nutritional products.
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Market Challenges
- The global salts and flavored salts market faces challenges due
to increasing health consciousness among consumers. Excess sodium
intake, primarily from conventional gourmet salt, can lead to
various health issues such as high blood pressure, heart diseases,
kidney diseases, and obesity. According to the Centers for Disease
Control and Prevention (CDC), over 90% of adults and 89% of
children in the US consume more sodium than the recommended amount.
The average salt intake in India
is double the World Health Organization (WHO) recommendation.
Consuming too much sodium can even contribute to autoimmune
diseases and overstimulate the immune system. The WHO has set new
guidelines for sodium levels in packaged food, aiming to help
manufacturers reduce sodium content. The FDA recommends that edible
salts should not exceed 0.01% potassium iodine, and the 2015-2020
Dietary Guidelines for Americans suggest limiting sodium intake to
2,300 mg daily for the general population and 1,500 mg daily for
those with high blood pressure. These guidelines and growing health
awareness are expected to hinder the growth of the salts and
flavored salts market during the forecast period.
- The Salts and Flavored Salts market is witnessing significant
growth due to increasing consumer preference for healthy lifestyle
and exotic indulgences. Start-ups are capitalizing on this trend by
offering high-quality Himalayan salt and various flavored salts
like Table & Shaker Salt, Smoked Salt, Jalapeno Salt, Truffle
Salt, and Garlic Salt. However, challenges include maintaining a
long shelf-life, ensuring nontoxic food flavor, and avoiding
preservatives. Consumer preferences for gluten-free, organic, and
free-form labeled products are driving demand for sodium reduction
ingredients like Potassium Chloride, Magnesium Sulfate, Calcium
Chloride, and Potassium Lactate. The semi-processed food segment,
including fast food and meat industries, is a significant market
for these salts. Herbs and spices, including foreign cuisines
like Italian and French food, are popular flavor combinations.
Social media marketing and promotional activities are key
strategies for start-ups to reach consumers. Government and private
company interventions regarding sodium content in food may impact
market growth.
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challenges - Request a sample report!
Segment Overview
This salts and flavored salts market report extensively covers
market segmentation by
- Distribution Channel
- End-user
- 2.1 Food and beverages industry
- 2.2 Food service industry/quick service restaurants
- 2.3 Household
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- The offline segment dominated the global
salts and flavored salts market in 2023, accounting for the largest
market share. This trend is primarily due to the effectiveness of
the offline distribution channel, which allows customers to examine
products before purchasing and provides a wide range of options. In
developing countries like India
and China, physical stores,
including hypermarkets, supermarkets, and convenience stores, are
the major sales channels for salts and flavored salts. The
increasing number of these retail outlets drives sales growth, with
large storage areas and extensive product offerings from vendors
such as K S AG, Tata Sons, and
McCormick and Co. To maintain competitiveness, retailers employ
strategies like better pricing and wider assortments. Despite the
decline in offline sales due to online shopping, the market is
expected to grow, with the expansion of retail channels and
innovative marketing fueling demand. However, the COVID-19 pandemic
negatively impacted offline sales in 2020, but the reopening of
retail stores in H2 2021 led to a rebound in demand. Overall, the
offline segment will continue contributing to the growth of the
global salts and flavored salts market during the forecast
period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Salts and Flavored Salts market encompasses a wide range of
products, from plain Table Salt to flavored varieties like Seasoned
Salt, Smoked Salt, Jalapeno Salt, Truffle Salt, and Garlic Salt.
These salts have gained popularity due to the trend towards
clean-label products and the demand for natural and semi-processed
food products. Western culture and changing consumer eating habits
have fueled the growth of this market. Flavored salts offer
nutritional benefits, adding flavor without the need for added
preservatives or artificial flavors. The fast food industry and
meat industry are significant consumers of salt, while herbs and
spices are often used to create unique flavors. Solubility and
mineral content are important factors in the production of salts,
making them suitable for various applications, including salads,
sauces, packaged foods, savory products, and seasoning for fish.
Beverages are also a growing area for the use of flavored
salts.
Market Research Overview
The Salts and Flavored Salts market is witnessing significant
growth due to the increasing trend towards clean-label products and
healthy alternatives in semi-processed food and natural food
products. Western culture and consumer eating habits are driving
the demand for nutritional benefits from salt, leading to the
commercialization of flavored salts in food and beverage products.
Himalayan salt, table salt, and shaker salt are popular choices,
with nontoxic food flavors replacing preservatives for longer shelf
life. Start-ups are entering the market with organic, gluten-free,
and free-form labeled salts, offering a healthy lifestyle and
nutritional value. Exotic indulgences like smoked salt, jalapeno
salt, truffle salt, garlic salt, and seasoned salt are gaining
popularity. The fast food industry and meat industry are major
consumers, with herbs and spices, foreign cuisines, and sodium
reduction ingredients like potassium chloride, magnesium sulfate,
calcium chloride, and potassium lactate used for flavor
combinations and nutritional value. Government and private company
interventions are promoting the use of organic food ingredients and
clean labels, while social media marketing and promotional
activities are driving sales. Consumers prefer high-quality
products, with consumer preferences influencing the market trends
towards proteins, fiber, fats, and allergen avoidance. Salts and
flavored salts are used in various applications like salads,
sauces, packaged foods, savory products, seasoning, fish, meat,
grilled vegetables, and beverages, making it a versatile
market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- End-user
-
- Food And Beverages Industry
- Food Service Industry/quick Service Restaurants
- Household
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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