According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of Micronized Salt are estimated to reach a value of USD 3804.8 million by 2032, surging at 3.6 % CAGR through the decade.
FMI presents a half-yearly comparison analysis and review of the market growth rates and further development prospects in the global market. The market is predominantly influenced by certain demographic and innovation factors under the subjective impact of macro and industry factors.
Some new developments that have taken place in these markets include:
- Micronized salt’s growing appeal in the processed food industry is due to its consistency and purity.
- The widespread usage of micronized salt in end-use applications such as milk and dairy products, bakery and confectionery products, and drinks is likely to propel the worldwide micronized salt market to stable growth.
- China and India are displaying high growth rates in terms of micronized salt consumption and demand through the forecast period with recent growth in the regional food and beverage industry.
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As micronized salt has a purity level of roughly 98 percent, it is rapidly being used to replace ordinary solar salt in a number of food and beverage applications to reduce impurity and boost efficiency. The global micronized salt market is likely to be propelled by a bunch of these variables.
Proven efficacy and compatibility with existing industrial processes have facilitated the transition to micronized salt. The market for micronized salts is expected to remain constant and develop at a CAGR of more than 3.6 percent over the projected period, owing to growing government intervention in limiting traditional salt overconsumption.
Key Takeaways from Market Study
- North Americans consume a large proportion of processed foods globally, making the region a key market.
- Because busy lifestyles need meals with a longer shelf life, Europe is a big market for processed goods.
- India and China are expected to dominate around 30% of the global market for micronized salt.
- The ASEAN area is expected to grow 1.5x times, retaining the majority share over the forecast period.
- Micronized salt with purity as high as above 5%dominated the market in 2021.
- The bakery & confectionery products segment is expected to have the highest value share of all segments by 2032.
“ The global micronized salt market is predicted to grow as ordinary solar salt is progressively replaced with micronized salt to minimise impurity and boost efficiency in a variety of culinary and beverage applications.”, –says a lead analyst at Future Market Insights.
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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.
- 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.
Competitive Landscape
Micronized Salt have a strongly competitive global market. The top players in the micronized salts market will control more than 40% of the market by the end of the forecast period.
Some of the leading companies offering Micronized Salt are TATA Chemicals Ltd., Wilson Salt Company, ICL Group, Kutch Brine Chem Industries, J.C. Peacock & Co. Ltd., GHCL Ltd., Akzo Nobel N.V., British Salt Limited , Compass Minerals America, Inc., Marico Limited, Morton Salt, Inc. INEOS Ltd., Cargill Inc. and Keya Foods.
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Future Market Insights, in its new offering, provides an unbiased analysis of the Micronized Salt presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Micronized Salt based on Grade (Purity 98 % – 99.5%, Purity Above 99.5%), Application (Meat, Bakery & Confectionery Products, Milk & Dairy Products, Poultry & Sea Foods), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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