Micronized Salt Market to Record 3% Growth on Back of Reduced Salt Consumption
Micronized salt market has shown a moderate growth trend of more than 3% during 2014 to 2018. Governmental initiatives in Europe and North America for reduction of per capita consumption of salt have pushed market growth. To address the issue, food product manufacturers and food processors have been shifting from traditional salt variants to micronized salt usage, to reduce the amount of salt in their products.
Proven efficacy and compliance with existing industrial processes has been instrumental in this transition towards micronized salt. With increasing government intervention to limit over consumption of traditional salt, market for micronized salts is expected to stay steady on its course and register a CAGR higher than 3% during the forecast.
Micronized Salt with More than 99.5% Purity to Remain in Forefront
In 2019, micronized salt with more than 99.5% purity, accounted for a majority of the market share. Utilization of micronized salts with high purity in preservatives has been one of the key factors for proliferating demand. Extensive utilization in bakery and confectionery for preparation of baked goods, snacks and other products and a shift towards micronized salts with high efficacy is expected to be supplemental to the growth of high purity micronized salt.
Micronized salt with high purity is anticipated to gain market share lost by micronized salt with purity of 98% to 99.5% during forecast period. Micronized salt with high purity is expected to grow 1.4X by 2028 over the market value in 2019.
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Asia-Pacific to Stay in Vanguard in Micronized Salt Market
Asia-Pacific is one of the top regions for micronized salt market, with high production and consumption. Currently China and India together are estimated to account for nearly 30% share in the global micronized salt market. High demand growth from Asia-Pacific region is anticipated over the forecast period, with multi-national companies investing in local suppliers and distributors, to generate new revenue streams.
Growth of food processing industry in ASEAN countries and India is expected to supplement this growth. The region is projected to hold majority share by growing 1.5X over the forecast period.
Government Regulations over Animal Feed to Give Impetus to Micronized Salt Demand
While traditional salts of varying purity has been used in manufacturing animal feed, imposition of maximum residual limits and regulations over usage of chemicals are being implemented. Micronized salts offering high consistency and high purity level after usage, demand in animal feed is expected to increase.
Currently high cost in usage of micronized salt has been one of the impeding factors and development of affordable micronized salt for animal feed usage is expected to be a prominent opportunity for manufacturers.
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Market to Witness High Fragmentation with Proliferation of Local and Medium Scale Manufacturers
Top manufacturers have been trying to gain ground in the market with regional expansion. Micronized salts market top players will account for more than 40% share by the end of the forecast period.
Global Micronized Salt Market: Segmentation
Segmentation table of the global micronized salt market has been provided below on the basis of Product Type, Application, and Region.
- Purity 98% - 99.5%
- Purity Above 99.5%
- Bakery & Confectionery Products
- Meat, Poultry & Sea Foods
- Milk & Dairy Products
- Canned/Preserved Fruits & Vegetables
- Prepared Meals
- North America
- Western Europe
- South East Asia & Pacific
- Latin America
- Eastern Europe
This taxonomy and the detailed table of content prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Global Micronized Salt Market – Scope Of The Report
The micronized salt market is anticipated to observe a significant growth in the forecast period of 2019 to 2028, according to a Fact.MR study. The study propounds key trends that are currently shaping the growth of the micronized salt market.
This newly published and insightful report sheds light on the key dynamics, which are expected to transform the future of the micronized salt market. This, in turn, is creating flourishing avenues for prominent companies as well as emerging players associated with the manufacturing of micronized salt.
The micronized salt market study is a sinuous market intelligence on the key drivers, challenges, industry trends and opportunities, which is likely to influence growth trajectory of the micronized salt market.
The report initially imparts an overview of the micronized salt market, considering current and future prospects in growth, to unveil attractive facets pertaining to the adoption of micronized salt across key regional markets.
An in-depth assessment on few of the micronized salt manufacturers offered in the report enables the report readers to gain detailed insights that are derived from micronized salt manufacturers across regional markets. A list of key companies operating in the micronized salt market provided in the report adds to the credibility of this exhaustive research study.
Global Micronized Salt Market: Opportunity Analysis
The report offers a detailed study on different factors influencing demand, sales, and revenue generation in the micronized salt market around the world. The opportunity analysis included in the report is beneficial for readers to better understand opportunities in the micronized salt market, which in turn, is likely to trigger the adoption of micronized salt.
An elaborated cost structure analysis provides the report with an innate completeness, and analysis offered on the cost structure involves all the regional markets incorporated.
A detailed forecast on the global micronized salt market has also been offered by experts, who have categorized market forecasts into a likely scenario, a conservative scenario, and an optimistic scenario regarding adoption and involvement of the global market during the forecast period.
Analysis and assessment of price point by region has also been included in this study. The study also exerts details on aspects impacting strategies of manufacturers within the global micronized salt market.
Global Micronized Salt Market: Analysis on Market Size Evaluation
Market valuation at the global and regional scale for the global micronized salt market is offered in terms of “US$ Mn” A Y-o-Y growth comparison on the key micronized salt market segments, along with the market attractiveness assessment quantifies insights delivered in the report. Metrics mentioned above are also tracked based on consumption across several regions where micronized salt is witnessing growing demand.
Global Micronized Salt Market: Scrutinized Assessment on Regional Segments
Weighted chapters have been included in the report on the global micronized salt market, which imparts a forecast on the regional markets recognizing the regional macros (business, economic and political environment outlook), which are expected to have an impact on the growth of the global micronized salt market in the near future.
Country-specific assessment on the demand for micronized salt has also been provided for each regional market, along with the market size valuation, price point assessment, price index, and impact analysis of key regional and country-wise dynamics. Y-o-Y growth projections have also been offered on all regional markets that are incorporated in the report.
Global Micronized Salt Market: In-depth Analysis on Competitive Landscape
The report concludes with a weighted chapter on the competition landscape considering up-to-date and essential developments related to market players, who are predominantly engaging in the production and distribution of micronized salt, along with company’s strategies, identification, and analysis. Market share comparison and analysis of these market players offered in the report enables readers to devise strategies for their businesses.
The intensity mapping of the market players operating in the global micronized salt market provides readers with actionable intelligence, which helps in understanding the current market status and prospects determining the competition levels in the global micronized salt market.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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