The micronized salt market in the United States is projected to grow at a modest CAGR of 2.5% through 2034. This slow growth is influenced by the high consumption of processed foods among Americans, driven by their fast-paced lifestyles.
NEWARK, DE / ACCESSWIRE / July 17, 2024 / The worldwide micronized salt market is estimated to expand from USD 3,056.1 million in 2024 to USD 3,937.9 million by 2034. Through this period, the industry is projected to record a 2.6% CAGR.
Micronized salt is increasingly being used in many foods, due to which it is steadily growing alongside the food industry. The surging penetration of the eCommerce sector and the subsequent reliance on home delivery services has been positively impacting the market growth.
Demand is also growing from the food delivery companies, which are flourishing due to rising digitization and the resultant desire for convenience. The growth of the food and beverage industry, driven by rising sales of processed and ready-to-eat food products, is raising the demand for micronized salts.
Sales of micronized salts are also increasing due to extensive usage in end use sectors like beverages, confectionery and bakery products, and milk and dairy products. Further, players are expanding in emerging economies, where population growth and disposable incomes are rising. The use of micronized salts is being explored in the pharmaceutical sector, especially in intravenous solutions and tablet manufacturing, where their solubility and purity are critical.
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Another industry where its use is being explored is the chemical industry, where it is instrumental in chemical processes as a catalyst or a reagent. The industry's growth might be impacted by shifting consumer preferences, low level of security in raw material supply, strict trade barriers, and other manufacturing issues. Increasing use of product substitutes, like salt replacers, is also negatively impacting the market.
Key Takeaways from the Micronized Salt Market Report
The micronized salt market is projected to witness a 2.6% CAGR over the forecast period.
Purity 98% to 99.5% is a significant grade, accounting for 45.7% in 2024.
The bakery and confectionery products segment is a prominent application segment for micronized salts, registering a 34.3% value share in 2024.
In Italy, the micronized salt market is anticipated to expand at a 3% CAGR through 2034.
The micronized salt sector in India is forecast to register a 2.7% CAGR from 2024 to 2034.
"Players are exploring new applications to sustain their growth in the market," says Nandini Roy Choudhury, Client Partner at Future Market Insights
Who is Winning?
Industry players are taking various routes to ensure their success in the micronized salt market. Their focus is currently on micronized salt with <99.5% purity grade, which is increasingly being purchased in the food processing sector. To capitalize on this trend, they are developing these hi-purity variants. Moreover, players are exploring new applications and uses of micronized salt to boost their revenue. Pharmaceuticals and nutraceuticals are certain applications that are being explored presently.
Players are going beyond by expanding their establishments in rapidly growing markets of developing economies. Further, they are merging and acquiring their way into more growth. Additionally, to keep the production costs down since micronized salt is a premium salt, players are purchasing new technologies and streamlining processes to lead to more efficiency and affordability.
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Leading Micronized Salt Brands
TATA Chemicals Ltd.
ICL Group
J.C. Peacock & Co. Ltd.
Akzo Nobel N.V.
British Salt Limited (A Tata Holdings Company)
Compass Minerals America, Inc.
Marico Limited
Morton Salt, Inc. (A K+S Group Company)
INEOS Ltd.
Kutch Brine Chem Industries
Wilson Salt Company
GHCL Ltd.
Cargill Inc.
Keya Foods
Others
Recent Developments in the Micronized Salt Market
Luna Grace Wellness & Rejuvenation Spa gave exclusive offers on red-light therapy and salt therapy in June 2024. In salt therapy, clients experience better skin health, stress reduction, and respiratory wellness as they are treated with diffused micronized salt particles in the air.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides a thorough, detailed, and unbiased analysis of the global micronized salt market, presenting historical demand data for the years 2019 to 2023 and forecast statistics for the years 2024 to 2034.
The study provides compelling industry insights based on grade (purity 98% to 99.5% and purity above 99.5%) and application (bakery and confectionery products, meat, poultry and sea foods, milk & dairy products, beverages, canned/preserved fruits and vegetables, prepared meals, and other applications) across several regions.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI's related ongoing Coverage in the Food and Beverage Domain:
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