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The salt market size is forecast to increase by USD 31.2 billion at a CAGR of 2.19% between 2023 and 2028. Market growth hinges on diverse factors, including the myriad industrial applications of salt across various sectors. Furthermore, the escalating production of chloralkali chemicals contributes significantly to market expansion. Additionally, the burgeoning demand for processed foods drives the need for salt as a crucial ingredient in food processing. These factors collectively underscore the pivotal role of salt in industrial processes and consumer products. As industries continue to evolve and innovate, salt remains a fundamental component across numerous applications, fueling the growth of the market. This convergence of industrial demand and consumer preferences amplifies the market's trajectory, presenting opportunities for sustained expansion and innovation. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rock salt segment is estimated to witness significant growth during the forecast period. Rock salt is the least processed form of salt, created by evaporating seawater or lake water. Rock salt can have a variety of colors, such as yellow, blue, and red, depending on the impurities inherent in it. Sodium and chlorine, the main components of rock salt, are essential elements required for the operation of many modern industrial activities.
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The rock salt segment was the largest segment and was valued at USD 102.90 billion in 2018. Some of the main application areas of rock salt include the chemical industry, the textile and tanning industry, the pulp and paper industry, and the oil and gas industry. This salt has many applications in different industries, which has encouraged suppliers to produce rock salt in large quantities. Overall, the growing number of rock salt applications in a number of industries and the increase in the number of products offered by well-known suppliers are expected to drive the growth of the rock salt segment in the market during the forecast period.
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APAC is estimated to contribute 69% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The main factor driving the growth of the market in the APAC region is the growing demand for salt in developing countries, such as India and China, due to increasing industrialization. China is the largest salt producer in the APAC region. The chlor-alkali industry in China is the main driver of market growth in the region.
Moreover, India is another leading salt producer in the region after China. The country exports its excess salt production to various countries, such as Japan, Bangladesh, Indonesia, South Korea, North Korea, Malaysia, the United Arab Emirates, and Vietnam. Hence, these factors are expected to fuel the growth of the market in the APAC region during the forecast period.
The market encompasses a wide array of inorganic compounds crucial for various food consumption and processing activities. Methods like seawater evaporation and brine extraction contribute to its production, along with mining and chemical manufacturing industry processes. Serving as a vital component in chlorine-alkali chemicals production, salt stands as an economic alternative and a ubiquitous commodity. Securing approvals and licenses from mining officials, and maintaining safety and quality standards, especially regulated by bodies like the Food Safety and Standards Authority of India (FSSAI), is pivotal. Additionally, its applications in de-icing products, water treatment, and initiatives addressing environmental concerns underscore its significance in urban areas amidst a growing global population. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased demand for processed foods is the key factor driving the growth of the market. Processed foods have a higher demand than whole foods because of their taste, appearance, and texture, which attract many consumers. In countries such as China and India, the growth in economic conditions and the rise in disposable income have led to an increase in the demand for convenient processed food products.
Moreover, most of the highly processed foods, such as cookies, crackers, chips, breakfast cereals, cakes, pasta, ice cream, and luncheon meats, require minimal additional preparation and are, therefore, ready to eat. This has further increased the demand for processed foods globally. Overall, the growing demand for processed foods will drive the demand for salt across the globe, which will further contribute to market growth during the forecast period.
The growing popularity of vacuum pan technology for salt production is the primary trend in the market. The requirement to produce high-quality salt has prompted some suppliers to use advanced technological methods to produce salt, such as the vacuum tank technology method. This method yields very pure salt, which has a very fine texture. The vacuum pan technology method for salt production is mainly used in high-quality salt applications such as food processing and chemical manufacturing.
Moreover, water softening and defrosting are the two main uses of sous vide salt. In addition, in some countries, the production of salt using vacuum tank technology has increased significantly. Silver salt production using vacuum pan technology is gaining attention as a popular trend in certain industrial applications, including the synthesis of specialized compounds and materials. This trend is expected to drive growth in sectors where silver salts are essential, such as electronics, healthcare, and specialty chemicals. Overall, the versatility of silver salts in various industrial processes, coupled with advancements in vacuum pan technology, positions them favorably to meet evolving market demands during the forecast period.
Growing health awareness among people is a challenge that affects the growth of the market. The increasing public understanding of the potential health risks associated with high salt intake has led to changes in consumer behavior and regulatory action. Eating too much salt has been linked to high blood pressure, cardiovascular disease, and other health problems, prompting people to think about their food choices.
Furthermore, governments and health organizations around the world are addressing these concerns by advocating guidelines for reducing salt intake and implementing labeling regulations that require clear indications of salt content on packaged food. Thus, such factors may hinder the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
The market operates across various segments, including brine, solar salt, and vacuum pan salt, sourced from different channels such as salt mines and evaporation of seawater. Mine facility operating levels impact material extraction, ensuring a steady supply for diverse applications. From serving as a de-icing product to aiding in agriculture and oil & gas sectors, salt's product adoption is widespread. Despite concerns about water pollution and greenhouse gas emissions during extraction, the industry emphasizes sustainable practices and waste management. Moreover, renewable energy sources are increasingly utilized in salt production, aligning with efforts to mitigate climate change and reduce water consumption.
Furthermore, market segmentation analysis of underground deposits and natural resources reveals distinct segments such as salt in brine segment, solar salt segment, vacuum pan salt segment, brine segment, and salt mines segment. Source analysis includes brine and salt mines segments, offering valuable insights into resource distribution and extraction methods. Further, the market encompasses diverse industries and minerals, primarily comprising sodium and chlorine, essential for food consumption, chemical manufacturing, and water treatment.
Additionally, rock salt, sourced through mining or seawater evaporation, is a key commodity widely used in industrial applications like chemical processing and de-icing. As urban areas and global population grow, governments introduce regulations to ensure safety and quality, with organizations like the Food Safety and Standards Authority of India (FSSAI) providing approvals and licenses. Despite environmental concerns, salt remains an economic alternative for various processing activities, underscoring its indispensable role in numerous sectors.
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Market Scope |
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Report Coverage |
Details |
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Page number |
185 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.19% |
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Market growth 2024-2028 |
USD 31.2 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
2.13 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 69% |
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Key countries |
US, China, India, Germany, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Atisale SpA, Besto Salt Co., BRAS DEL PORT S.A, Cargill Inc., Ciech SA, Compass Minerals International Inc., INEOS AG, Kopalnia Soli w Klodawie, KS Aktiengesellschaft, Mitsui and Co. Ltd., Nouryon Chemicals Holding BV, Rio Tinto Ltd., Salinen Austria AG, SAN FRANCISCO SALT CO., Solvay SA, Stone Canyon Industries Holdings Inc., Sudwestdeutsche Salzwerke AG, Tata Chemicals Ltd., Tate and Lyle PLC, and Wacker Chemie AG |
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Market dynamics |
Parent market analysis, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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