Impact of COVID-19 on Micronized Salt Market : Implications on Business
Global Micronized Salt Market: Overview
Micronization is the process of reducing the size of a material’s component particles to make these materials readily usable in applications that require nano- or micro- sized particles. This can be achieved either by milling, grinding or by the modern techniques of using supercritical fluids, which are a revolutionary innovation in extraction of materials from a mixture.
Micronized salt is the almost pure salt extracted from a mixture. It finds usage in the processed food industry as an additive to increase palatability of food items. Also, since salt increases the shelf-life of food products, micronized salt with its good solubility and cheap extraction makes a market acceptance of this product easier.
As per Transparency Market Research, the global micronized salt market will witness increase in its worth and grow at a steady pace from 2020 to 2030. Players operating its vendor landscape will be presented with novel growth opportunities over the stated period and it is anticipated that top ones will deploy a range of strategies to chart growth.
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Global Micronized Salt Market: Competitive Landscape
The micronized salt market is a fragmented one due to presence of large number of players. Owing to an expanding processed food industry and growing demand for micronized salt world over, manufacturers are striving to increase their operational footprint. This is leading players to take a number of growth measures such as product improvement and entering key alliances.
Leading players of the global micronized salt market are-
- K+S Aktiengesellschaft
- Tata Chemicals Ltd.
- Ciech S.A.
- AkzoNobel N.V.
- Dominion Salt Limited
- INEOS Group Limited
- AB Hanson and Mohring
- Cheetham Salt Limited
- Kensalt Ltd.
- WA Salt Group
- ACI Limited
- Nirma Limited
- Cerebos Ltd
- Zoutman NV
- China Salt Jintan Co., Ltd.
- BGR International Ltd.
- Suedwestdeutsche Salzwerke AG
- Australian Saltworks
- GHCL Ltd.
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Global Micronized Salt Market: Key Trends and Drivers
- The food and beverage industry is growing with an annual spending by global consumers expected to reach about US 20 trillion dollars by 2030. Since micronized salt is an essential ingredient of so many food items today, this market is set to grow in tandem with the food industry at a steady rate over the coming years.
- Another major growth factor for the micronized salt market would be the growth of e-commerce and subsequent dependence of consumers on home delivered food. A rapid digitization and subsequent quest for convenience will spur food delivery businesses. This increased demand gives the processed and instant-make food industry a spurt which is due to take the micronized salt market forward. .
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Global Micronized Salt Market: Regional Analysis
North Americans consume massive amounts of processed foods globally, making the region a prominent market. Similarly, Europe is a notable market for processed foods owing to hectic lifestyles demanding foods that have a longer shelf-life. Add to this the fact that both of these regions dominate meat consumption would help the micronized salt market grow in the future.
The Asia Pacific region is set to witness notable growth over the forecast period owing to expansion in e-commerce. Also, as processed food industry gains a foothold in these regions, the trajectory will take a higher plane. Similarly, Latin America with its growing meat processing industry will create novel growth opportunities for players.
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