Salts And Flavored Salts Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||Asia Pacific|
*Disclaimer: Major Players sorted in no particular order
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Salts And Flavored Salts Market Analysis
The global salts and flavored salts market is projected to register a CAGR of 3.83% during the forecast period.
- The global market for salt and flavored salts is constantly changing and highly fragmented, with small and domestic players holding a significant portion of the market share. Salt is an essential component of human nutrition and will continue to be a popular market. The flavored salt market is influenced by food industry trends, particularly those in the fast food and meat industries.
- Flavored salt is similar to regular table salt, except that it contains other herbs and spices for more complex flavors. The market is considered to be recession-proof, as consumers can use flavored salts for home cooking. The demand for foreign cuisines, such as Italian and French food, which require specialized flavors and seasonings, is fueling the growth of the market.
- Organic flavored salts made from all-natural ingredients represent a growing opportunity in the market. The growing demand for gourmet salts is driven by rapid globalization, consumer awareness, and frequent innovations in ingredients and flavors. Consumers' evolving lifestyles and food habits are driving them to prefer healthy food options, which is reflected in their increasing per capita spending.
- However, consumers are also becoming more aware of the ill effects of excessive sodium intake and the harmful effects of fast food. As a result, sodium reduction ingredients are becoming a significant restraint on the industry. Mineral salts such as potassium chloride, magnesium sulfate, calcium chloride, and potassium lactate are commonly used as sodium reduction ingredients due to their widespread availability and potential to replace normal salt in terms of functionality and taste.
- Government and private company interventions to increase public awareness about the harmful effects of excessive sodium intake and the increasing demand for processed food containing high levels of salt are expected to further increase the demand for sodium reduction ingredients and restrain the market growth.
Salts And Flavored Salts Market Trends
Increasing Demand for Organic and Flavored Salt is Driving the Market Growth
- Consumers are becoming more adventurous in their cooking and are experimenting with new flavor combinations beyond traditional pairings. As a result, flavored salts are gaining popularity as they provide a more impactful flavor than traditional seasoning blends. Due to rising Westernization trends, the demand for foreign cuisines, such as Italian and French food, among consumers in emerging economies has also led to an increased usage of flavored salts.
- In addition, the growing demand for hot and spicy fast food among young consumers has allowed food service restaurants to incorporate flavored salts, such as jalapeno salts, in regional processed meals. This has led to increased import and export of salt between countries to cater to the growing demand for flavored salts.
- Moreover, the market for organic food ingredients, including salts and flavored salts, is growing due to the rising demand for clean labels, vegetarian and vegan lifestyles, and allergen avoidance. The trend of organically harvested food ingredients is also boosting the demand for gourmet salts, which are naturally garnered sea salts containing low sodium levels. Consumers worldwide are shifting their food patterns toward the consumption of healthy alternatives, making the demand for gourmet salts relatively high.
- Overall, the increasing awareness of consumers, frequent innovation in ingredients and flavors, and rapid globalization are driving the growing demand for flavored salts and gourmet salts in the market.
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Asia-Pacific Being the Largest As Well As the Fastest Growing Region
- The increasing demand for high-quality premium salt imports in the region has gradually opened up opportunities for foreign suppliers, especially in China. However, the excess intake of iodine by the Japanese due to their iodine-rich diet and regular consumption of seaweed has contributed to a high prevalence of thyroid cancer among the population, leading to a growing demand for lower iodized salt consumption in the country.
- Despite their love and appreciation for food, Japanese consumers do not use a significant amount of spices or seasonings in their food, making natural sea salts from Japanese seawater a preferred choice. Oishi so Japan is one such company that supplies cooking sea salts to the food and beverage industries in the country.
- In India, the consumption of table salt among different economic populations is driving the Indian salt market. Several local and giant players in the country offer iodized salt at an affordable price. However, Indians consume approximately 10.98 grams of salt per day, exceeding the World Health Organization's (WHO) recommended limit. The excessive sodium intake has resulted in hypothyroidism and hyperthyroidism among the population, leading to a growing demand for low sodium salts with sodium reduction ingredient formulations in the market, such as sodium lite salt by Tata.
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Salts And Flavored Salts Industry Overview
The global salts and flavored salts market is characterized by fragmentation, with a significant share of the market being contributed by small-scale manufacturers. Key players in the market, including K+S AG, Tata Chemical Ltd, ITC Ltd, Akzo Nobel NV, and McCormick & Company, among others, adopt various strategies such as business expansions, product innovations, partnerships, mergers, and acquisitions to gain a competitive edge.
These companies are actively investing in their target segments and using product development as a key strategy to achieve consolidation and optimize their offerings. They are constantly enhancing their product portfolios to cater to consumers across various demographics.
To increase their customer base in the market, companies engage in various marketing campaigns. For example, Tata Chemicals Ltd launched its #HarSawaalUthega campaign in January 2023 on the occasion of Republic Day in India as part of its CSR activity to connect with consumers.
Salts And Flavored Salts Market Leaders
Tata Chemicals Ltd.
McCormick & Company Inc.
Akzo Nobel NV
*Disclaimer: Major Players sorted in no particular order
Salts And Flavored Salts Market News
- November 2022: Truff, the truffle brand known for reimagining and elevating pantry staples, ventured into seasonings with the introduction of Truff Black Truffle Salt. The new product features a blend of fine and coarse sea salt finished with a purposeful amount of black truffles.
- April 2022: Tata Salt, one of India's most trusted brands and pioneers of the salt iodization movement, launched Tata Salt Immuno. This new product is a category-first innovation in the edible salt segment in India. Along with mandated iodization, the product has added zinc, which is known to support a healthy immune system.
- May 2021: Tanteo Tequila launched Jalapeño, Chipotle, Habanero, and Citrus flavored margarita salts that will be included with 750ml of their Jalapeño, Chipotle, Habanero, and Blanco expressions. Tanteo Tequilas are made from fair trade, 100% Blue Weber agave, and these new salts will elevate and help elevate everyone's margarita game and enhance the flavors of the iconic cocktails.
Salts & Flavored Salts Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Table Salt
5.1.2 Seasoned Salt
5.1.3 Flavored Salt
18.104.22.168 Truffle Salt
22.214.171.124 Garlic Salt
5.1.4 Lime and Lemon Salt
5.1.5 Smoked Salt
5.1.6 Jalapeno Salt
5.1.7 Other Flavored Salts
5.2 Distribution Channel
5.2.2 Convenience Stores
5.2.3 Departmental Stores
5.2.4 Other Distribution Channels
5.3.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle East & Africa
126.96.36.199 South Africa
188.8.131.52 Saudi Arabia
184.108.40.206 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 K+S AG
6.3.2 Akzo Nobel NV
6.3.3 Tata Chemicals Limited
6.3.4 McCormick & Company Inc.
6.3.5 United Salt Corporation
6.3.6 Ajinomoto Co. Inc.
6.3.7 Saltworks Inc
6.3.9 Cornish Sea Salt Co
6.3.10 ITC Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Salts & Flavored Salts Market Research FAQs
What is the study period of this market?
The Salts and Flavored Salts Market is studied from 2018 - 2028.
What is the growth rate of Salts and Flavored Salts Market?
The Salts and Flavored Salts Market is growing at a CAGR of 3.83% over the next 5 years.
Which region has highest growth rate in Salts and Flavored Salts Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Salts and Flavored Salts Market?
Asia Pacific holds highest share in 2022.
Who are the key players in Salts and Flavored Salts Market?
Tata Chemicals Ltd., McCormick & Company Inc., K+S AG, ITC Ltd, Akzo Nobel NV are the major companies operating in Salts and Flavored Salts Market.
Salts and Flavored Salts Industry Report
Statistics for the 2023 Salts and Flavored Salts market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Salts and Flavored Salts analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.