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Micronized Salt Market

Micronized Salt Market

Micronized Salt Market

Micronized Salt Market – Grade (Purity 98 % - 99.5%, Purity Above 99.5%) & Region - Forecast 2022 - 2032

Micronized Salt Market - Overview

[350 Pages Report] Micronized salt market size was estimated at USD 2,671.4 Mn in 2022 and expected to reach USD 3,804.8 Mn in 2032, at a CAGR 3.6%.

Attribute

Details

Market Size Value in 2022

USD 2,671.4 Mn

Market Forecast Value in 2032

USD 3,804.8 Mn

Global Growth Rate

3.6%

Forecast Period

2022-2032

Micronized salt's growing appeal in the processed food industry is due to its consistency and purity. Micronized salt, regarded as an ideal taste enhancer, enhances the shelf life of vegetables and meat in addition to processed foods. The widespread usage of micronized salt in end-use applications such milk and dairy products, bakery and confectionery products, and drinks is likely to propel the worldwide micronized salt market to stable growth.

Because micronized salt purity level is around 98%, producers are increasingly replacing regular solar salt with micronized salt to reduce impurity and increase efficiency in a variety of food and beverage applications. A slew of these factors are expected to propel the global micronized salt market.

This move to micronized salt has been aided by proven efficacy and conformity with existing industrial processes. With increased government involvement to limit traditional salt overconsumption, the market for micronized salts is likely to remain stable and grow at a CAGR of more than 3.6% over the forecast period.

Expanding Food and Beverage sector to Trigger Micronized Salt Market

Because micronized salt is now an essential ingredient in so many foods, this market is expected to grow at a steady rate alongside the food industry in the coming years.

The rise of e-commerce and the consequent reliance of consumers on home-delivered food is another important growth factor for the micronized salt business. Food delivery firms will thrive as a result of increased digitization and the resulting desire for convenience. This rising demand provides a boost to the processed and ready-to-eat food industries, which is expected to propel the micronized salt market ahead.

Regional Analysis of the Global Micronized Salt Market

North Americans consume a significant amount of processed foods worldwide, making the region a significant market. Similarly, Europe is a significant market for processed goods, as busy lifestyles necessitate meals with a longer shelf life. The fact that both of these regions consume the most meat will help the micronized salt business expand in the future.

With high production and consumption, Asia-Pacific is one of the top regions for micronized salt. China and India are projected to control roughly 30% of the worldwide micronized salt market. Over the projected period, multi-national corporations are expected to invest in local suppliers and distributors to establish new revenue streams, resulting in high demand growth from the Asia-Pacific region.

Due to the increase of e-commerce, the Asia Pacific region is expected to grow significantly throughout the projection period. In addition, as the processed food business establishes itself in these areas, the trajectory will shift upward. Similarly, the increasing meat processing business in Latin America will provide new growth prospects for participants.

The ASEAN countries' and India's food processing industries are expected to augment this growth. Over the forecast period, the area is expected to grow 1.5x times, retaining the majority share.

Category-Wise Insights

99.5% Pure Micronized Salt to vanguard the segment

Micronized salt with purity as high as above 99.5% dominated the market in 2021. One of the main drivers of demand has been the use of micronized salts of high quality in preservatives. The expansion of high purity micronized salt is predicted to be supplemented by widespread use in confectionery and bakery for the creation of snacks, baked goods and other items.

During the projection period, micronized salt with a purity of 98% to 99.5% is expected to receive market share from micronized salt with a purity of 98% to 99.5%. By 2032, the market value of micronized salt with high purity is predicted to increase 1.4X above the current market value.

Bakery and Confectionery Segment to drive Micronized Salt Market

Micronized salt is used in bread and confectionery items, poultry, meat and seafood, milk and dairy products, drinks, canned/preserved fruits and vegetables, prepared meals, and other applications. By the end of 2032, the bakery & confectionery products section is predicted to have the greatest value share of all the segments, followed by poultry, meat, and seafood.

Competition Landscape: Top Micronized Salt Manufacturers

Top manufacturers have been attempting to build a foothold in the industry by expanding regionally. By the end of the forecast period, the top players in the micronized salts market will control more than 40% of the market.

According to the market research TATA Chemicals Ltd., ICL Group, J.C. Peacock & Co. Ltd., GHCL Ltd.,  Akzo Nobel N.V., British Salt Limited , Compass Minerals America, Inc., Marico Limited, Morton Salt, Inc. (A K+S Group Company), INEOS Ltd., Kutch Brine Chem Industries, Wilson Salt Company, Cargill Inc. and Keya Foods. are among the key players in the Micronized Salt market.

Scope of Report

Attribute

Details

Market Size Value in 2022

USD 2,671.4 Mn

Market Forecast Value in 2032

USD 3,804.8 Mn

Global Growth Rate

3.6%

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

MT for Volume and USD Mn for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East and Africa

Key Countries Covered

United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.

Key Market Segments Covered

Grade, Application, and Region

Key Companies Profiled

  • 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
  • Other

Pricing

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Key Segments Covered

By Grade:

  • Purity 98% - 99.5%
  • Purity Above 99.5%

By Application:

  • Bakery & Confectionery Products
  • Meat, Poultry & Sea Foods
  • Milk & Dairy Products
  • Beverages
  • Canned/Preserved Fruits & Vegetables
  • Prepared Meals
  • Other Applications

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa-MEA

Key Questions Answered in the Report

How much is the micronized salt market current worth?

Currently micronized salt market is worth more than USD 2,578.6 Mn.
Micronized salt consumption is expected to grow at a CAGR of around 3.6% during the period 2022-2032.
In terms of revenue, micronized salt grew at a CAGR of around 2.8% during 2017-2021
The primary factor driving the growth of the micronized salt market is the rising appeal in the processed food industry due to its consistency and purity.
Market players are opting for technological advancement, new product developments and production capacity expansion.
The top 5 producers of micronized salt hold around 18-20% of the market share.
The US, India, and China are the major countries driving demand for micronized salt.
The major players involved in the micronized salt market are 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. and Keya Foods.
East Asia holds around 31.3% of the total micronized salt revenue share.
US micronized salt market is projected to grow at a CAGR of around 3.3% over the next ten years.

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