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 Overview:
Mineral salt ingredients includes mineral sources such as sodium chloride, calcium chloride and magnesium chloride among others that are used to enhance the texture, taste and shelf life of food products. These ingredients are used in various food applications such as dairy, bakery, confectionery, meat products and convenience foods.
Market key trends:
Rising health consciousness among consumers regarding clean label and organic food products is a major trend in the mineral salt ingredients market. The demand for mineral salt ingredients from organic food producers is increasing substantially. Furthermore, the growth of convenience food industry worldwide is also supporting the demand for mineral salt ingredients that help extend the shelf life of packaged food products without compromising on their taste and quality. Increasing fast food consumption and busy lifestyle of people has boosted the sales of packaged and processed food globally.
SWOT Analysis
Strength: Mineral salt ingredients have proven functionality in various food applications in terms of taste, texture and preservation. They are considered natural ingredients.
Weakness: Overconsumption of salt can pose health risks like high blood pressure. Dependence on natural resource extraction for some mineral salts.
Opportunity: Growth in prepared and packaged food industry in emerging markets creates opportunities. Rising health consciousness among consumers is also driving demand for reduced and iodized salt versions.
Threats: Stringent food quality and safety regulations pose compliance challenges. Environmental regulations related to mining activities.
Key Takeaways
The global Mineral Salt Ingredients Market Size is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing demand from the food processing industry. The market size for 2023 is estimated to be US$ 10.56 Bn.
Regional analysis: Asia Pacific region is expected to dominate the market during the forecast period. This is attributed to factors like growing population, rising disposable incomes, and expansion of food processing sector in countries like China and India.
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