In its latest market research report revision, FMI has estimated the current valuation of sea salt market to be USD 553.6 million by 2024 end. Consumption of salt is continuously surging on grounds of government campaigns focused on spreading awareness regarding heightened sodium intake.
Hereon, key players are projected to release new variants, invest in research and development, and enhance their marketing efforts to spur market growth. Expanding at a 4.2% CAGR, the market is anticipated to generate sales worth USD 786.1 million by 2034.
Attributes | Key Insights |
---|---|
Sea Salt Market Size (2024E) | USD 553.6 million |
Market Valuation (2034F) | USD 786.1 million |
Value-based CAGR (2024 to 2034) | 4.2% |
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Leading End User | Food and Beverage |
---|---|
Value Share (2024) | 60.40% |
Food and beverages segment has control over 60.4% of the global market. Key players in the food and beverage domain like seasoning companies, restaurants, sauce manufacturers, country clubs, catering companies, etc., massively use salt to elevate the final food product. Sea salt is also popular among food manufacturers of packaged rice, vegan cheese, pasta, and bagels; spice shops; and seafood restaurants, etc.
Despite the increasing use of this salt in segments like cosmetics, agriculture, and animal food, the food and beverage market share is going to remain a predominant one.
Leading Packaging | Bags |
---|---|
Value Share (2024) | 35.40% |
Bags are predicted to be a prominent packaging material for sea salt. FMI analysts have estimated that the bag segment is predicted to acquire a 35.4% share of the global market. Sea salt sold in bags is convenient and safe for end users. Manufacturers prefer to do it in bags as they are more affordable than metal tins or glass jars, reducing production costs and the final selling price.
Latest consumer trends show that people nowadays prefer products in resealable closures to maintain the freshness of the product they are purchasing. Manufacturers are thus proactively responding to that demand in the new launches.
Countries | Forecast CAGR (2024 to 2034) |
---|---|
The United States | 3.10% |
Germany | 4.20% |
China | 5.0% |
Japan | 5.60% |
India | 6.80% |
Consumption of this salt is increasing at a 3.1% CAGR in the United States. Demand as well as availability of diverse kinds of these salts like pure sea salt, pure kosher sea salt, and pure flake sea salt for multiple uses, is increasing the market size.
The product finds its use in seasonings in foods, preserving food, cooking, and cosmetics. To grab consumer attention, companies in the United States are also offering delivery of the highly popular unrefined sea salts across the country with no minimums.
Use of this salt is rising at 4.2% CAGR in Germany through 2034. Consumers in Germany are more inclined towards authentic, unprocessed Celtic Sea salt that can be used for numerous purposes. It finds its way into applications like baking, staining, etc. Additionally, the use of sea salt bodes well with increasing health-conscious consumers in Germany.
The product is a healthy addition to a recipe, more nutritious than table salt, as it keeps the natural balance intact and offers essential minerals to the consumers.
Increasing followers of paleo diet are also raising the opportunities for sea salt providers in Germany as this salt is considered paleo-friendly. Furthermore, growing interest in trying out new cuisines, like French or Spanish cuisine, is propelling the use of this salt for creative culinary experiments among home chefs and professional chefs alike.
China to observe a growth rate of 5% over the next 10 years. In mid-2023, the market was disrupted after Japan released treated radioactive water from the infamous Fukushima nuclear power plant into the Pacific Ocean. This led to apprehensions regarding the safety of consuming this salt and panic buying of the already available salt from online retail platforms and supermarket shelves.
Proactively, the China Salt Association called upon salt producers in the country to regulate market order and maintain the supply and quality of edible salt.
In a recent meeting with relevant authorities, the China Salt Association concluded that the present salt production using this salt as a building block is safe. The salt purchased via legitimate channels is also fit for consumption. These market dynamics are predicted to create an uncertain growth trajectory for this consumption over the next decade.
Consumption of sea salt in Japan is projected to grow at 5.6% over the following years. Technological advances to introduce a labor-saving and more efficient salt production method are fueling the market growth. Growth in the market size also hinges on the fact that natural sea salt is a highly sought-after addition to gourmet products in Japan.
Players are thus introducing ancient and luxurious artisanal sea salt that enriches culinary creations with mineral-infused flavors of pristine ocean waters in Japan. As consumers in Japan value convenience, providers of this salt are providing condiments in small resealable packages for extended use.
In India, the use of this salt is expected to rise at a relatively higher CAGR of 6.8% in the proceeding years. People in India have long been using natural non-iodized sea salt for its ample benefits like weight loss, digestion, reduced stress, immunity boost, and healthy skin.
It is low in iodine content and incorporating natural non-iodized sea salt leads to a healthier lifestyle. Expanding awareness about the life-altering benefits of this salt across the country is predicted to surge product sales.
Increasing conscious consumers in India are paying more for food products procured from tribal communities. This is creating an entry point for new players who wish to sweep consumers off their feet. However, prevailing price sensitivity in India is expected to limit the business prospects of such products to affluent consumers.
Consumers are also showing an inclination for cosmetic-grade dead sea salt to rejuvenate and treat their skin. Additionally, players in the cosmetic industry infuse sea salt in varied products like clay masks, bath salts, nourishing creams, etc.
Key players are profusely employing product launch strategies to capture the interest of customers. Top players are thus boosting their research and development funds to develop innumerable flavor profiles to extend their product offerings.
Globalization and internet penetration have led to recipe sharing and extensive readily available information regarding different cuisines. On the back of these factors, retailers across the globe are selling their products on eCommerce sites to provide their distinct flavors beyond their homeland.
Players who are transparent and go the extra mile in their ethical and social conduct are highlighting their efforts to market to conscious and high-income consumers. Latest trends in the end-user segments showing an inclination for natural and organic products are also being considered by market players while developing this salt.
New Developments by Players as well as Participants in the End User Categories
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Current projections of the market indicate a valuation of USD 553.6 million in 2024
Looking ahead to 2034, the current forecast projects a CAGR of 4.2% for the industry.
FMI predicts lucrative opportunities worth USD 786.1 million by the year 2034.
Food and beverages hold a significant market share in the forecast period.
India is predicted to be an investment hotspot for investors and stakeholders.
Amato Food Products Ltd., Morton Salt Inc., and Qinghai Salt Lake Industry Co. Ltd. are powerful players in the market.
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