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The salts and flavored salts market size is estimated to increase by USD 8,907.19 million between 2022 and 2027. The market size is forecast to grow at a CAGR of 6.95%. The growth depends on several factors, including the strategies adopted by leading players, innovative packaging solutions, and the growing consumer demand for seasoned and flavored salt.
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The strategies adopted by leading players are notably driving the market, although factors such as the health risks and diseases related to salt and sodium may impede the growth. 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 strategies to gain a competitive advantage.
The strategies adopted by leading players are one of the key factors driving the market. The global market is highly competitive. Because of this, companies worldwide are increasingly focusing on getting approval from regulatory bodies, such as the US FDA.
Moreover, companies adopt various strategies such as new product launches, collaborations, partnerships, mergers and acquisitions (M&A), and expansion projects to tackle the competition. Intense competition in the market is expected to compel established companies to increase their presence through partnerships and strategic alliances. Such initiatives are expected to drive the market during the forecast period.
The growing demand for pink Himalayan salt is one of the key trends. Pink Himalayan salt is known to be the purest variety of salt as it contains no chemicals or toxins. Pink Himalayan salt is being used as an alternative to table salt owing to its health benefits. Pink Himalayan salt is known to have superior mineral content compared to table or sea salt and is chemically similar to table salt as it contains up to 98% sodium chloride.
Moreover, Pink Himalayan salt lamps are also being used to remove dust, pollen, smoke, and other contaminants that can increase the risk of respiratory problems. Such health benefits associated with pink Himalayan salt will fuel the market during the forecast period.
Health risks and diseases related to salt and sodium consumption are one of the key factors limiting the growth. Consuming too much sodium may even contribute to autoimmune diseases, including multiple sclerosis, lupus, rheumatoid arthritis, and psoriasis, as excess sodium can overstimulate the immune system of consumers. Various research studies have suggested a direct link between intake and obesity.
For instance, a one-gram-per-day increase in salt intake is linked to an increase of over 25% in the risk of obesity in both adults and children. Although salts are considered necessary ingredients in food products, it is essential to monitor any intake, as consuming too much can be life-threatening. This, in turn, will limit the growth during the forecast period.
The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their expansion strategies.
Global 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.
Himalayan chef - The company offers Black Salt, Pink Salt Super Fine Bag, Pink Salt Fine.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 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 share growth by the offline segment will be significant during the forecast period. Offline was the largest segment of the global market in 2022 and will continue to be the largest segment of the market during the forecast period. The offline channel provides customers the advantage of examining food and beverage products, by checking for defects in packaging and checking the expiration date of the product before purchasing, which is considered the most influential means of marketing.
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The offline segment was valued at USD 8,299.77 million in 2017 and continued to grow until 2021. companies are promoting offline sales through market expansion plans and offering their products in different regions. This trend is expected to continue during the forecast period. With a significant increase in retail channels in various cities and regions, customers have become familiar with flavored salts. Although the offline sales channel has lost its market and popularity to the online channel, extensive and innovative marketing will steadily boost offline sales, leading to the global market during the forecast period.
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North America is estimated to contribute 30% 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. Factors that make North America the largest regional market and the largest contributor to the market include the presence of key companies in the region and the high revenue generated by these companies.
In addition, strategic initiatives by companies such as innovative product launches and increased acceptance of genuine, high-quality are other factors supporting the market. Multinational retail corporations such as Walmart Inc. and Target Corp. have recently engaged in regional market expansion plans. Thus, the expansion of retail outlets will increase the availability, which, in turn, will drive the growth of the regional market during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is an essential component of human nutrition, catering to diverse industries including fast food and meat. With a reputation for being recession-proof, the market offers a range of products, including organic flavored salts made from all-natural ingredients. As consumers' lifestyles evolve towards healthier options, there's a growing demand for gourmet salts and sodium reduction ingredients like potassium chloride and magnesium sulfate. This shift is driven by increasing awareness of the harmful effects of excessive sodium intake, particularly from fast food. Innovations such as jalapeno salts cater to the demand for hot and spicy flavors. Additionally, the import and export of salt and organic food ingredients further contribute to the market's growth, reflecting changing consumer preferences and dietary trends.
Salts And Flavored Salts Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.95% |
Market growth 2023-2027 |
USD 8907.19 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.63 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 30% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Verlag A.Vogel AG, Ajinomoto Co. Inc., Amagansett Sea Salt Co., Cornish Sea Salt Co. Ltd., El Nasr Salines Co., HimalaSalt, Himalayan chef, Hoosier Hill Farm LLC, INFOSA, KS Aktiengesellschaft, McCormick and Co. Inc., Olde Thompson, Red Monkey Foods Inc., SaltWorks Inc., Tata Sons Pvt. Ltd., Twang Partners LLC, ITC Ltd., Suprasel, United Salt Corp., and Vancouver Island Salt Co. |
Market dynamics |
Parent market analysis, market growth and trends, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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