Global Salts and Flavored Salts Market - Growth, Trend and Forecast (2018 - 2023)
The global salts and flavored salts market is expected to witnessing a CAGR of 5.2% during the forecasted period (2018-2023). North American accounts for the largest share in the global salts and flavored salts market.
The salt industry shall remain an ever-popular market with salt being essential for humans. The flavored salts market is influenced directly by the trends in the food industry, particularly the fast food and meat industries. Flavored salt is no different than regular table salt except that it contains other herbs and spices to provide more complex flavors. The market is considered a recession-proof market as consumers can use flavored salts for home cooking as well. Globalization and high influence of westernization in the emerging countries are fueling demand for foreign cuisines such as Italian and French food, which calls for specialized flavors and seasonings. There is also a growing opportunity in the market for organic flavored salts made from all natural ingredients.
There is a growing awareness among consumers on the ill effects of excess sodium intake and the harmful effects of fast food, and the emergence of sodium reduction ingredients are the major restraint in the industry.
The market is segmented according to product type i.e., table salt, butter salt, garlic salt, onion salt, celery salt, truffle salt, smoked salt, and others. Table salt has the most market share, with its wide range of application in all foods ranging from sweet to savory. Garlic butter is a popular all-purpose flavored salt, used in fast food industry. Various benefits associated with garlic salts are- increase in immunity, reduced cholesterol and blood pressure. Butter salt comes in next with its application in the popcorn industry. Hawaiian Black Lava Salt is sea salt that is combined with activated volcanic carbon which gives this sea salt its unique black coloring which adds a unique nutty flavor.
The global salts and flavored salts market is regionally segmented with Asia-Pacific being the highest manufacturer and consumer. Table salt is the most consumed seasoning in the developing world. It is the most easily available seasoning and a popular way of preserving food in the Asian countries.
North America makes up the largest market for flavored salts followed by Europe due to its high dispensable income and the resulting high fast food consumption. Asia-Pacific is forecasted to grow at the highest rate with increasing urbanization in developing countries like China, India, Indonesia and Malaysia.Major PLAYERS: MORTON SALT, TATA GROUP, CEREBOS, WINDSOR, CATCH, UNITED SALT COORPORATION, SÜDSALZ, AKZO NOBEL, COMPASS MINERALS, SÜDWESTDEUTSCHE SALZWERKE, DAMPIER SALT, SWISS SALTWORKS, SALINAS COORPORATION, DEV SALT PRIVATE, BRITISH SALT, CHEETAM SALT, ITALKALI SOCIETÀ ITALIANA SALI ALCALINI, MCCORMICK, SCHWARTZ, LAWRY'S, ANDY'S SEASONING, KERNAL SEASON'S, JESS HALL, THE ORIGINAL SMOKE AND SPICE COMPANY, SALTWORKS, SABROSA SALT CO., BORSARI, HAWAIIAN ISLAND SALT COMPANY and AJINOMOTO CO.INC., amongst others.
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