The global mineral salt ingredients market is driven by the growing demand from the food and beverage industry. Mineral salt ingredients are widely used in food and beverage products to enhance flavor and improve product quality. They are commonly added to processed foods, baked goods, dietary supplements, beverages, and other products. Some key uses of mineral salt ingredients include sodium chloride or table salt, which is used as a flavor enhancer and preservative in various snacks, meat products, and canned foods. Potassium chloride is often used as a salt substitute that reduces the sodium content. Calcium and magnesium are important minerals added to dairy products, infant formulas, and drinks to support bone health. With rising health consciousness, the demand for products with reduced sodium and sugar content is increasing globally. Manufacturers are innovating new product formulations using mineral salt ingredients to meet consumer demand for healthy and nutritional food and beverage options.
The global Mineral Salt Ingredients Market is estimated to be valued at US$ 10.56 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Food and beverage manufacturers are increasingly using mineral salt ingredients to improve food quality, enhance flavor profiles, and provide health benefits. Sodium chloride, potassium chloride, and calcium are among the top ingredients demanded by food processors. The demand for reduced sodium and sugar products is also propelling the need for mineral salt substitutes. Moreover, the increasing Health awareness and changing dietary habits among consumers have led to demand for food products with increased nutritional value. This is further expected to boost the demand for mineral salt ingredients like calcium, magnesium, and potassium over the next few years. However, stringent regulations pertaining to limits on added salt content may restraint market growth to some extent.
Segment Analysis
The mineral salt ingredients market is dominated by the food and beverages sub-segment. Around 50% of the total mineral salt ingredients produced globally are consumed by the food and beverages industry. This is because mineral salts are crucial for enhancing the taste and improving the shelf-life of various food products. Within the food and beverages segment, the bakery & confectionery sub-segment accounts for the largest demand for mineral salt ingredients owing to the role of salts as a leavening agent and preservative in bakery products.
PEST Analysis
Political: No major political factors impacting the mineral salt ingredients market globally.
Economic: Rising purchasing power and growing health-consciousness among individuals are driving the demand for processed and packed food products, boosting the mineral salt ingredients market.
Social: Changing lifestyle and food habits are positively influencing the consumption of convenience food products utilizing mineral salt ingredients.
Technological: Advancements in microencapsulation techniques have helped improve the texture and stability of mineral salt ingredients, increasing their usage in wide range of food applications.
Key Takeaways
The Global Mineral Salt Ingredients Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Mineral Salt Ingredients Market is estimated to be valued at US$ 10.56 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
Regionally, Asia Pacific dominates the market and is expected to maintain its leading position during the forecast period as well. The rapid urbanization and rising health expenditure in Asia Pacific countries like China and India are fueling the demand for nutritious and convenience food products.
Key players operating in the mineral salt ingredients market are Corbion, Minerals Technologies Inc., Compass Minerals International Inc., Albion Laboratories, Inc., Paul Lohmann GmbH KG, K+S Aktiengesellschaft, Gadot Biochemical Industries Ltd., Arla Foods amba, DuPont, Jungbunzlauer Suisse AG, SEPPIC, and Koninklijke DSM N.V.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
