Micronized Salt Market

Global Micronized Salt Market Value & Growth Rate:

The Global Micronized Salt Market was worth US$ 2,671.5 million in 2022 and is anticipated to increase at US$ 3,504.5 million by 2027 with a CAGR of 3.3% during 2022-2027.

Global Micronized Salt Market Scenario:

Micronized salt, a popular flavor enhancer, extends the shelf life of fruits, vegetables, and meat, as well as processed goods. Because of its consistency and purity, micronized salt is gaining popularity in the processed food business. Micronized salt's broad use in end-use applications such as milk and dairy products, bakery and confectionery items, and beverages is expected to lead the global micronized salt market to steady growth. Because micronized salt has a purity level of roughly 98 percent, it is rapidly being used to replace ordinary solar salt in a number of food and beverage applications to reduce impurity and boost efficiency. The global micronized salt market is likely to be propelled by a bunch of these variables.

Proven efficacy and compatibility with existing industrial processes have facilitated the transition to micronized salt. The market for micronized salts is expected to remain constant and develop at a CAGR of more than 3.6 percent over the projected period, owing to growing government intervention in limiting traditional salt overconsumption. Because of its consistency and purity, micronized salt is gaining popularity in the processed food business. Micronized salt, a popular flavor enhancer, extends the shelf life of fruits, vegetables, and meat, as well as processed goods. Micronized salt's broad use in end-use applications such as milk and dairy products, bakery and confectionery items, and beverages is expected to lead the global micronized salt market to steady growth.

Global Micronized Salt Market Drivers:

The micronized salt market is expected to expand throughout the projected period, owing to factors such as increased demand from the processed food and beverage industry to extend the shelf life of frozen items. Another key element driving the growth of the micronized salt market is demand from bakery products such as bread, baked goods, and snacks. However, the micronized salt market is constrained by high product prices and the danger of replacements. Nonetheless, during the projection period, typical qualities such as high purity and consistency are projected to present important growth prospects for the micronized salt market and the key players involved. Because micronized salt is now an essential ingredient in so many foods, the market for it is likely to increase in lockstep with the food sector over the next few years. Another key growth reason for the micronized salt industry is the rise of e-commerce and the concomitant reliance of consumers on home-delivered food. As a result of greater digitization and the resulting desire for convenience, food delivery companies will prosper. The processed and ready-to-eat food sectors benefit from this increased demand, which is likely to move the micronized salt market forward.

The micronized salt market is being driven by an increase in the export of processed foods and meat products, Micronized salt market expansion is accelerated by the product's increasing usage in the food sector due to its high purity and consistency, as well as rising demand in the processed food and beverage industry. The micronized salt market is influenced by the growing popularity of micronized salt as an ideal flavoring agent that also extends the shelf life of vegetables and meat, as well as the high utilization of the product in end-use applications such as bakery and confectionery products, beverages, and dairy products. Furthermore, the micronized salt market benefits from the rise of the food and beverage industry, as well as customer preference for packaged and frozen food products due to busy lifestyles and high food expenditures. Furthermore, in the forecast period of 2022-2027, technical advancements and product innovations provide profitable prospects for micronized salt market participants.

Global Micronized Salt Market Restraints:

On the other hand, the implementation of sodium consumption laws and the availability of salt substitutes are projected to stymie the micronized salt market's expansion. In the forecast period of 2022-2027, technical advancements in alternative salts and their adoption are expected to pose a challenge to the micronized salt market.

Recent Developments in the Global Micronized Salt Market:

Tata Chemicals is in advanced talks to buy Archean Group's industrial salt business, which could be worth at least 450 crore.

https://www.livemint.com/companies/news/tata-chemicals-in-talks-for-archean-s-industrial-salt-unit-11610441021094.html

Global Micronized Salt Market Segmentation: 

By Type:

• Purity 98%-99.5%
• Purity above 99.5%

Micronized salt with a purity of more than 99.5 percent accounted for the majority of the global micronized salt market share based on type. One of the main drivers of rising demand has been the use of micronized salts with high purity in preservatives. as well as a shift toward micronized salts with high efficacy.

During the projection period, micronized salt with high purity is expected to gain market share from micronized salt with purity of 98 percent to 99.5 percent. By 2027, the market value of micronized salt with high purity is predicted to expand 1.4 times above what it was in 2019.

By Application:

• Bakery & Confectionery products
• Milk & dairy products
• Beverages
• Meat, Poultry and Sea foods
• Others

Based on application, food and beverages segment dominates the global micronized salt market growth during the forecast period. Because micronized salt is now an essential ingredient in so many foods, the market for it is likely to increase in lockstep with the food sector over the next few years. Another key growth reason for the micronized salt industry is the rise of e-commerce and the concomitant reliance of consumers on home-delivered food. As a result of greater digitization and the resulting desire for convenience, food delivery companies will prosper. The processed and ready-to-eat food sectors benefit from this increased demand, which is likely to move the micronized salt market forward.

Global Micronized Salt Market Regional Analysis: 

The Global Micronized Salt Market Report includes the segmentation of Regions:

5. Asia-Pacific is one of the leading regions for micronized salt, with high production and consumption. China and India are expected to dominate around 30% of the global market for micronized salt. Multinational firms are likely to invest in local suppliers and distributors to generate new revenue streams over the forecast period, resulting in strong demand growth in the Asia-Pacific area. The Asia Pacific area is predicted to grow significantly throughout the projection period, owing to a growth in e-commerce. Furthermore, the trend will change higher when the processed food industry establishes itself in these locations. The food processing industries of ASEAN countries and India are projected to contribute to this expansion. The area is predicted to grow 1.5 times throughout the forecast period, retaining the majority share.
5. Because of the high consumption of processed foods in this region, North America continues to be the leading revenue-generating region for the worldwide micronized salt market.
5. Because busy lifestyles need meals with a longer shelf life, Europe is a big market for processed goods. Because both of these regions consume the most meat, the micronized salt industry will continue to grow in the future.
5. The growing meat processing industry in Latin America will open up new opportunities for participants.

Impact of COVID-19 on Savory Snacks Market:

The new coronavirus has had a significant impact on a wide range of industries, including food and beverage, automotive, pharmaceutical, and many more. This epidemic has resulted in huge production halts and supply chain disruptions that have harmed the economics of nearly every country on the planet. The pandemic also had a negative impact on the food micronized salt business. It wreaked havoc on the market and supply chain, as well as production and demand. However, multiple research investigations have identified salt's potential to fight COVID-19, allowing the micronized salt sector to rebalance even in the face of ongoing COVID-19 restrictions.

Global Micronized Salt Market Key Players:

The companies covered in the report include:

• TATA Chemicals Ltd.
• ICL Group
• J.C. Peacock & Co. Ltd.
• GHCL Ltd.
• Akzo Nobel N.V.
• British Salt Limited
• Compass Minerals America, Inc.
• Marico Limited
• Morton Salt, Inc.