The worldwide micronized salt market is estimated to expand from USD 3,056.1 million in 2024 to USD 3,937.9 million by 2034. Through this period, the industry is projected to record a 2.6% CAGR.
Micronized salt is increasingly being used in many foods, due to which it is steadily growing alongside the food industry. The surging penetration of the eCommerce sector and the subsequent reliance on home delivery services has been positively impacting the market growth.
Demand is also growing from the food delivery companies, which are flourishing due to rising digitization and the resultant desire for convenience. The growth of the food and beverage industry, driven by rising sales of processed and ready-to-eat food products, is raising the demand for micronized salts.
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Sales of micronized salts are also increasing due to extensive usage in end use sectors like beverages, confectionery and bakery products, and milk and dairy products. Further, players are expanding in emerging economies, where population growth and disposable incomes are rising. The use of micronized salts is being explored in the pharmaceutical sector, especially in intravenous solutions and tablet manufacturing, where their solubility and purity are critical.
Another industry where its use is being explored is the chemical industry, where it is instrumental in chemical processes as a catalyst or a reagent. The industry’s growth might be impacted by shifting consumer preferences, low level of security in raw material supply, strict trade barriers, and other manufacturing issues. Increasing use of product substitutes, like salt replacers, is also negatively impacting the market.
Key Takeaways from the Micronized Salt Market Report
- The micronized salt market is projected to witness a 2.6% CAGR over the forecast period.
- Purity 98% to 99.5% is a significant grade, accounting for 45.7% in 2024.
- The bakery and confectionery products segment is a prominent application segment for micronized salts, registering a 34.3% value share in 2024.
- In Italy, the micronized salt market is anticipated to expand at a 3% CAGR through 2034.
- The micronized salt sector in India is forecast to register a 2.7% CAGR from 2024 to 2034.
Who is Winning?
Industry players are taking various routes to ensure their success in the micronized salt market. Their focus is currently on micronized salt with <99.5% purity grade, which is increasingly being purchased in the food processing sector. To capitalize on this trend, they are developing these hi-purity variants. Moreover, players are exploring new applications and uses of micronized salt to boost their revenue. Pharmaceuticals and nutraceuticals are certain applications that are being explored presently.
Players are going beyond by expanding their establishments in rapidly growing markets of developing economies. Further, they are merging and acquiring their way into more growth. Additionally, to keep the production costs down since micronized salt is a premium salt, players are purchasing new technologies and streamlining processes to lead to more efficiency and affordability.
Leading Micronized Salt Brands
- 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
- Others
Recent Developments in the Micronized Salt Market
- Luna Grace Wellness & Rejuvenation Spa gave exclusive offers on red-light therapy and salt therapy in June 2024. In salt therapy, clients experience better skin health, stress reduction, and respiratory wellness as they are treated with diffused micronized salt particles in the air.
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Key Segments of the Micronized Salt Market
By Grade:
The global industry, based on grade, is bifurcated into purity 98% to 99.5% and purity above 99.5%.
By Application:
Various applications of the product are bakery and confectionery products, meat, poultry and sea foods. milk & dairy products, beverages, canned/preserved fruits and vegetables, prepared meals, and other applications.
By Region:
The sales analysis of the product is tracked across several continents like North America, Latin America, Europe, East Asia, South Asia, the Middle East and Africa, and Oceania, in the report.
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