Micronized Salt Market Estimated to Rise Profitably during the Foreseeable Future
The global micronized salt market will exhibit a modest CAGR of 3% during the forecast period 2019 – 2028, as projected by a new Fact.MR report. Key players in the micronized salt market are eying profitable opportunities to through regional expansion activities, and gain a larger, global consumer base.
“Investments in micronized salt to fit end user requirements and specific functionality is expected to support demand. Companies will concentrate most efforts towards catering to the food processing industry,” says the Fact.MR report.
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Micronized Salt Market: Key Findings
- Micronized salt with purity standards of more than 99.5% will account for a major market and positive growth.
- The bakery and confectionary segment is a major contributor in terms of application, with 1.3X growth.
- Premium grade micronized salt will display moderate growth, while value grade variants, will display high growth.
- Asia Pacific will remain a leading market through 2028, as China and India account for 30% of the market share.
Micronized Salt Market: Key Driving Factors
- Government initiatives in developed regions to minimize the per capita consumption of traditional salt support the rise of micronized salt market.
- Proven efficacy of micronized salt and compliance to industrial standards is a key driver of market growth.
- Demand for micronized salt in bakery and confectionary applications is fuelling global demand.
- Expansion of the food processing industry, globally would sustain demand.
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Micronized Salt Market: Key Restraints
- Increasing consumer awareness about the adverse effects of excessive salt consumption is a key challenge for the market.
- Rising competition from a range of slat replacer products impacts market profitability.
Manufacturers are pushing to expand their reach into a number of domestic markets around the globe. Industry heavyweights are trying to gain greater market share with regional expansions. Prominent companies operating in micronized salt market include, but are not limited to, INEOS Group Ltd., Cargill Incorporated, AkzoNobel N.V.,K+S Aktiengesellschaft, Tata Chemicals Ltd., and Ciech S.A.
About the Report
This 170-page study offers detailed market forecast on the micronized salt market. The key categories covered in the report include product type (purity 98% to 99.5% and purity above 99.5%), application (bakery & confectionary products, meat, poultry, & seafood, milk & dairy products, beverages, canned/preserved fruits & vegetables, prepared meals, and others). This analysis has been tracked on a country-wise level, with a total of 30+ countries across 9 key regions.