(MENAFN- EIN Presswire)
Surging demand for specialty and gourmet foods with changing culinary preferences driving up consumption of flavored salt as a key ingredient, says Fact.
ROCKVILLE, MD, UNITED STATES, June 14, 2024 /EINPresswire / -- Global revenue from the sales of flavored salt is expected to reach US$ 3.54 billion in 2024, as revealed in the newly published report by Fact, a
market research and competitive intelligence provider. The market has been forecasted to advance at a CAGR of 6.1% from 2024 to 2034.
In recent years, more consumers have been preferring cooking meals in household settings. They consider home-cooked foods and homemade beverages healthier options compared to outside and packaged food products, which is stimulating demand for flavored salt as one of the key ingredients used in the cooking process for its natural mineral content.
Get Free Sample Copy of This Report:
Flavored salt has a strong nutritional profile with some added benefits of protein, fiber, vitamins, and minerals, which is driving its demand in the foodservice industry in North America. Moreover, its increased consumption is also attributed to the beneficial nutrients in contains, such as vitamin E and magnesium. With more and more people looking to eat healthier, which has spurred the demand for preservative- and additive-free food products, the market is set for steady growth over the coming years.
Key Takeaway from Market Study
The global flavored salt market is projected to reach a value of USD 6.4 billion by the end of 2034, driven by significant growth in key regions. Notably, South Korea and Japan are expected to see robust increases in flavored salt sales, with South Korea's market climbing at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2034, and Japan's market expanding at a CAGR of 6.6% over the same period. North America is also anticipated to be a major player, forecasted to account for 24.3% of global market revenue by 2034. This growth reflects a rising consumer preference for diverse and innovative flavor options in everyday cooking and food preparation.
The demand for flavored salt in the retail and household sector globally is set to increase at a CAGR of 6.4%, reaching a market value of USD 2.39 billion by 2034. This surge is indicative of a growing trend towards gourmet cooking and an increased desire for convenience among home cooks. Additionally, flavored salt containing spices is poised to dominate the market, capturing a 38.8% share of the global market by 2034. These trends highlight the evolving consumer palate and the increasing popularity of flavored salts as a versatile ingredient in culinary applications.
“With increasing demand for natural and clean-label food products, companies should invest more in producing organic flavored salt with low sodium content,” says a Fact analyst.
Pocket-friendly Prices of Flavored Salts with Spices Pushing Up Demand
Worldwide sales of flavored salt containing spices are approximated to rise at a 5.9% CAGR and reach US$ 2.48 billion by the end of 2034. Several spices such as paprika, chili, and garlic are used with flavored salt to enrich the texture, appearance, color, and flavor of different foods & beverages. Surging demand for this salt is due to its benefit of providing flavored profiles at pocket-friendly prices.
Key Market Players
Some of the leading manufacturers of flavored salt are Amagansett Sea Salt Co., Windsor Salt Ltd., Bitterman Salt Co., Himalayan Chef, Jacobsen Salt Co., HimalaSalt, Cornish Sea Salt Company Ltd., Maine Sea Salt Company, J&D's Foods, The Spice Lab, Suprasel, Twang Partners Ltd., Vancouver Island Salt Co., Morton Salt, Inc., and SaltWorks.
Get Customization on this Report for Specific Research Solutions:
Competitive Landscape
Key players in the flavored salt industry are forming agreements, collaborations, and partnerships to enhance their offerings of natural flavored salts and strengthen their portfolios.
For example:
Stone Canyon Industries Holdings LLC acquired America's salt business from K+S Aktiengesellschaft and Morton Salt. K+S, headquartered in Overland Park, Kansas, is a prominent salt producer and supplier in North America. The company manufactures specialty salt, evaporated salt, and bulk salt for governmental, commercial, and consumer use across Canada and the United States.
Nouryon, in March 2021, entered into an agreement with the Salins Group, an international salt company headquartered in France. Nouryon will divest its salt specialties business, including brands such as NEZO, JOZO, Sanal, and KNZ, to the Salins Group.
Explore More Related Studies Published by Fact Research:
Vacuum Salt Market : The global vacuum salt market is estimated to be valued at US$ 8,012.3 million in 2024. Projections indicate a steady expansion with a CAGR of 4.8% through 2034. The market is expected to reach a valuation of US$ 12,765.2 million in 2034.
Flavored Syrup Market : Expanding at a CAGR of 5%, the global flavored syrup market is predicted to increase from a valuation of US$ 52 billion in 2023 to US$ 85 billion by 2033-end.
About Fact:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: ...
S. N. Jha
Fact
email us here
MENAFN14062024003118003196ID1108332929
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.