The sea salt market value is expected to rise from US$ 553.6 million in 2024 to US$ 786.1 million by 2034. This market is analyzed to expand at a CAGR of 4.20% over the next decade.
The latest consumer trend in the sea salt market is the increasing popularity of unrefined, preservative-free products. Further, the surging awareness of sea salt benefits like anti-aging and anti-inflammatory are increasing their use in varied end-use industries.
The consumption of sea salt is particularly high in the food and beverage industry. Therefore, players are typically introducing several new flavors and making innovations in the food-grade sea salt offering. For instance, manufacturers are releasing desserts with chocolate or caramel flavors that incorporate sea salt to enhance the flavor.
“Manufacturers and exporters of sea salt are improving their sales by investing in strategies to lower their production cost and potentially the final product’s price. Further, players are selling their products on online stores for a wider reach and accessibility the world over,” says an analyst of Future Market Insights.
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Key Takeaways from the Sea Salt Market Report
- The global sea salt market amounted to US$ 467.8 million in 2019. In the historical period, the market assumed a pace of 3.1% CAGR.
- The food and beverages segment are the leading end user of sea salt, acquiring 60.4% of the global market.
- Consumers increasingly buy sea salt sold in bags, due to their convenience to store and use. The packaging bag accounts for 35.4% value share in the global market.
- The United States sea salt market registers a 3.1% CAGR over the forecast period.
- In Europe, Germany is going to spearhead the market at a 4.2% CAGR over the next 10 years
- Within Asia Pacific, India is going to pull the market upward by expanding at a 6.8% CAGR in the next decade.
Top Strategies Employed by Market Players
Key players are focusing on reducing the prices of sea salt to increase their penetration across the globe, especially in price-sensitive countries. For this, they are employing various technologies and further investing in research and development practices.
Players are further introducing new flavored sea salts in the market to draw in more customers and sales. Market participants are offering their products on virtual platforms to increase their visibility among potential prospects. Selling products online also helps players deliver many benefits to their customers like discounts, rebates, fast delivery, and extended reach.
Latest Developments in the Sea Salt Market
- In October 2023, Eco Salt, a South Korean company specializing in eco-friendly salt introduced a premium salt brand that fine-tunes the magnesium content and removes microplastics. The company follows the Magnesium Micro-plastic Free (MMPF) method to eliminate 95% microplastics from sea salt and reduce magnesium content. This method has been praised for its ease of use, economic feasibility, and superior functionality over conventional technologies.
- In January 2021, Cargill introduced a purified sea salt floor. This ingredient is a distinct type of powder-like, finely cut sodium chloride. It is appropriate for applications that need extreme fine sizing and easy blending, such as cereal, dry soup, spice mixes, and flour, as well as seasoning snack foods. Other functional benefits of this ingredient are that it dissolves faster in liquids than traditional salt crystals and it effectively adheres to food, which results in reduced salt waste.
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Market Segmentation
Classification by Packaging:
- Bags
- Pouches
- Sacks
- Shakes
- Glass Jars
By Multiple Applications:
- Regenerating Water Agent
- De-icing Agent
- Detoxifying Agent
- Anti-Oxidant Agent
By Various End Users:
- Food and Beverages
- Agriculture
- Cosmetics
- Animal Food
- HORECA
Segregation by Distribution Channels:
- Specialty Stores
- Convenience Stores
- Retail
- E-Commerce
By Regions:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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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