Sea Salt Market Summary, Value Structure Analysis, Growth Opportunities And Forecast To 2034
The sea salt market value is expected to rise from US$ 553.6 million in 2024 to US$ 786.1 million by 2034. This market is analyzed to expand at a CAGR of 4.20% over the next decade.
The latest consumer trend in the sea salt market is the
increasing popularity of unrefined, preservative-free products. Further, the
surging awareness of sea salt benefits like anti-aging and anti-inflammatory
are increasing their use in varied end-use industries.
The consumption of sea salt is particularly high in the food
and beverage industry. Therefore, players are typically introducing several new
flavors and making innovations in the food-grade sea salt offering. For
instance, manufacturers are releasing desserts with chocolate or caramel
flavors that incorporate sea salt to enhance the flavor.
“Manufacturers and exporters of sea salt are improving their
sales by investing in strategies to lower their production cost and potentially
the final product’s price. Further, players are selling their products on
online stores for a wider reach and accessibility the world over,” says an
analyst of Future Market Insights.
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Key Takeaways from the Sea Salt Market Report
- The
global sea salt market amounted to US$ 467.8 million in 2019. In the
historical period, the market assumed a pace of 3.1% CAGR.
- The
food and beverages segment are the leading end user of sea salt, acquiring
60.4% of the global market.
- Consumers
increasingly buy sea salt sold in bags, due to their convenience to store
and use. The packaging bag accounts for 35.4% value share in the global
market.
- The
United States sea salt market registers a 3.1% CAGR over the forecast
period.
- In
Europe, Germany is going to spearhead the market at a 4.2% CAGR over the
next 10 years
- Within
Asia Pacific, India is going to pull the market upward by expanding at a
6.8% CAGR in the next decade.
Top Strategies Employed by Market Players
Key players are focusing on reducing the prices of sea salt
to increase their penetration across the globe, especially in price-sensitive
countries. For this, they are employing various technologies and further
investing in research and development practices.
Players are further introducing new flavored sea salts in
the market to draw in more customers and sales. Market participants are
offering their products on virtual platforms to increase their visibility among
potential prospects. Selling products online also helps players deliver many
benefits to their customers like discounts, rebates, fast delivery, and
extended reach.
Latest Developments in the Sea Salt Market
- In
October 2023, Eco Salt, a South Korean company specializing in
eco-friendly salt introduced a premium salt brand that fine-tunes the
magnesium content and removes microplastics. The company follows the
Magnesium Micro-plastic Free (MMPF) method to eliminate 95% microplastics
from sea salt and reduce magnesium content. This method has been praised
for its ease of use, economic feasibility, and superior functionality over
conventional technologies.
- In
January 2021, Cargill introduced a purified sea salt floor. This
ingredient is a distinct type of powder-like, finely cut sodium chloride.
It is appropriate for applications that need extreme fine sizing and easy
blending, such as cereal, dry soup, spice mixes, and flour, as well as
seasoning snack foods. Other functional benefits of this ingredient are
that it dissolves faster in liquids than traditional salt crystals and it
effectively adheres to food, which results in reduced salt waste.
Market Segmentation
Classification by Packaging:
- Bags
- Pouches
- Sacks
- Shakes
- Glass
Jars
By Multiple Applications:
- Regenerating
Water Agent
- De-icing
Agent
- Detoxifying
Agent
- Anti-Oxidant
Agent
By Various End Users:
- Food
and Beverages
- Agriculture
- Cosmetics
- Animal
Food
- HORECA
Segregation by Distribution Channels:
- Specialty
Stores
- Convenience
Stores
- Retail
- E-Commerce
By Regions:
- North
America
- Europe
- Asia
Pacific
- Middle
East and Africa
- Latin
America
Information Source: https://www.futuremarketinsights.com/reports/sea-salt-market
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