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I AgreeAnalysis of Vacuum Salt Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global vacuum salt market stands at US$ 6.29 billion in 2022 and is forecasted to expand at a CAGR of 4.4% to reach a market valuation of US$ 9.68 billion by the end of 2032.
Over the 2017-2021 historical period, demand for vacuum salt registered a CAGR of 1.7%, according to Fact.MR, a market research and competitive intelligence provider. Consumption of vacuum salt in water softeners and water treatment applications accounted for around 36% share of the global market at the end of 2021. Strong growth of the chemical industry will fuel the demand for vacuum salt. Further, growing urbanization in developing countries is likely to increase the demand for clean and safe water, which will help boost the sales of vacuum salt in these countries.
Vacuum salts are high-purity salts obtained from brine, chemically purified, and formed through the process of controlled thermal compression and vacuum evaporation. Vacuum salt contains a minimum sodium chloride contains 99.7% of purity.
Over the years, the food and beverage industry has seen rapid growth in developed as well as developing countries. Vacuum salt has been widely utilized in the anti-caking process. This salt is also helpful in adding textural qualities to food. It is used in bakery products as a flavoring agent and helps improve the flavor of food and beverage products.
The use of vacuum salt in the food and beverage industry for flavoring and texturizing agents for food will likely lead to high product demand over the coming years. Rising demand for safe and healthy water is set to create the high need for vacuum salt as governments across the world have increased their spending on water networks.
East Asia and South Asia are anticipated to exhibit high demand for vacuum salt on the back of the escalating chemical industry, especially in China and India.
Report Attributes |
Details |
---|---|
Vacuum Salt Market Size (2021A) |
US$ 6.08 Billion |
Estimated Market Value (2022E) |
US$ 6.29 Billion |
Forecasted Market Value (2032F) |
US$ 9.68 Billion |
Global Market Growth Rate (2022-2032) |
4.4% CAGR |
North America Market Share (2021) |
~26.3% |
East Asia Market Growth Rate (2022-2032) |
~4.6% CAGR |
United States Market Growth Rate (2022-2032) |
~4.4% CAGR |
Market Share of Top 5 Companies |
~25% |
Key Companies Profiled |
|
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Demand for high-purity vacuum salt is increasing rapidly due to rising consumer awareness about various health concerns. Salt is considered as one of the most essential components in the chemical and food & beverage sectors. As per the latest report, nearly 60% of the salt produced is used in the manufacturing of various types of chemicals inclusive of food applications.
Demand for vacuum salt is increasing from the chemical industry as vacuum salts are the purest form of salt. It can be mixed well and easily with any component in the chemical industry.
Manufacturers are also focusing on developing high purity of vacuum salt for different applications. K + S AG has developed a high-purity vacuum salt named NUTRIKS. It is a high-purity food-grade vacuum salt that contains 99.8% of sodium chloride.
High-purity of vacuum salt can be widely utilized in the applications such as de-icing, anti-caking, flavoring agents, animal feed ingredients, etc. These applications will create significant demand for vacuum salt in the coming years.
Vacuum salt is widely used as a de-icing agent in regions facing extreme cold situations such as Northern Europe and North America. Vacuum salt, rock salt, and sea salt are the three most common types of salt used for de-icing applications.
When vacuum salts are spread over the snow surface, it helps to lower the freezing point of water which helps ice to melt. This is also helpful in preventing more ice from forming.
Demand for vacuum salt is increasing from de-icing applications because of its easier availability in the market, low cost, higher efficiency, and safety in use.
High snowfall in countries such as Japan, Canada, the United States, Russia, and Norway will create a significant opportunity for vacuum salt manufacturers from the de-icing application.
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Governments across the world are trying to reduce the use of sodium in food and beverage products due to growing awareness of health concerns. This can hamper the demand growth for vacuum salt as the food and beverage industry holds a significant share of this market.
With a high consumption rate of sodium, the chances of getting diseases such as high blood pressure, heart attack, and stroke. The human body needs a small amount of sodium to function well, but due to changing food habits across the globe consumption rate of sodium has increased rapidly. Consumption among Americans has increased to 3,400 mg per day, whereas doctors recommend that sodium consumption rate should be lower than 2,300 mg per day.
Market share analysis of vacuum salt based on application and region. Under application, the water softeners and water treatment segment dominates with over 35% market share in 2022.
Developed countries such as the United States are likely to play a crucial role in the growth of the vacuum salt market. The growing chemical industry in the United States will push the demand for vacuum salt over the coming years.
Millennials are driving the demand for high-quality food items, as this demographic is often passionate about food but lacks the equipment, skills, and time needed to prepare elaborate dishes. This is expected to drive the sales of and is likely to impact the sales of vacuum salt in the United States.
The United States vacuum salt market is currently estimated at US$ 1.44 billion.
Asia Pacific holds the highest market share around 40% in the global market. China will lead the growth of vacuum salt in the Asia Pacific region. The growing chemical industry in China will create huge demand for vacuum salt in the years ahead.
Along with the chemical industry, the food and beverage industry in China will play a significant role in the growth of the target market. China's food industry has crossed the mark of US$ 1,150 Bn in 2021. China sees high demand for vacuum salt from the de-icing application as it is 7th largest snowfall country in the world.
China holds a commanding position at the country-level accounting for roughly 63% share of the East Asia vacuum salt market. China’s market is expected to top a valuation of US$ 1.1 billion in 2022.
The global vacuum salt is projected to grow at a healthy CAGR in response to the growing demand for high-quality salt in the chemical manufacturing industry. The chemical industry will dominate and account for more than 50% share of vacuum salt sales. The growing chemical industry in Asia Pacific countries such as China and India is likely to drive the sales of vacuum salt in the coming years.
Vacuum salts are widely utilized in the chemical sector for electrolysis, and dye and detergent manufacturing. It can be useful in home chemicals such as water softening and purification, dishwashers, etc.
The chemical industry to hold 56.7% market share and is predicted to reach a valuation of US$ 3.57 billion by the end of 2022.
Over the years, consumers have shifted towards ready-to-eat food because of ease of availability, low cost, and ease of carrying. Ready-to-eat meals becoming more and more popular in developed as well as developing countries. Countries such as China, and India have seen high demand for ready-to-eat food. Meat and poultry products, cereal-based food products, and vegetable-based ready-to-eat products are some of the food products that are gaining popularity in the ready-to-eat food market.
Vacuum salt will play a crucial role in the growth of the ready-to-eat food market. It is widely used in food products to improve their taste.
The food and beverage industry is set to capture nearly 20% share of the market share and is estimated to be valued at US$ 1.22 billion by the end of 2022.
Prominent vacuum salt manufacturers are Cargill, Tata Chemicals Ltd., K+S Aktiegesellschaft, NOBIAN, Salins, Amra Salt Factory, Wilson Salt Ltd, Infosa, CIECH, and Dominion Salt.
Manufacturers are focusing on increasing production capacity to meet the growing demand for vacuum salt coming from the chemical industry, food and beverage industry, pharmaceuticals, oil industry, textile industry, etc. Manufacturers are also focusing on merger and acquisition strategies, which can help them to increase their production capacity, as well as a presence in untapped markets across the world.
Fact.MR has provided detailed information about the price points of key manufacturers of vacuum salt positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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The global vacuum salt market is valued at US$ 6.29 billion in 2022.
Worldwide demand for vacuum salt is anticipated to reach US$ 9.68 billion by 2032-end.
From 2017 to 2021, worldwide sales of vacuum salt increased at 1.7% CAGR.
North America leads the global vacuum salt market accounting for 26.3% market share.
Water softener and water treatment applications account for over 35% share of global sales.