Salts and Flavored Salts Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.97 Billion |
| Market Size (2029) | USD 10.59 Billion |
| CAGR (2024 - 2029) | 3.39 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Salts and Flavored Salts Market Analysis
The Salts And Flavored Salts Market size is estimated at USD 8.97 billion in 2024, and is expected to reach USD 10.59 billion by 2029, at a CAGR of 3.39% during the forecast period (2024-2029).
Consumers are increasingly drawn to bold and exotic flavors, fueling a surge in interest for flavored salts, such as jalapeno and smoked salt, due to their unique taste profiles. Flavored salts, often viewed as alternatives to traditional table salt, enable consumers to reduce sodium intake while still enhancing their dish flavors. Products, including Himalayan and black salt, are believed to offer trace minerals and health benefits, resonating with the rising consumer inclination towards natural and wellness-focused products. Retailers like Diamond Crystal, Morton, and Redmond leverage this trend, promoting these salts as healthier options, which boosts both awareness and sales. The growth of e-commerce has broadened consumer access to specialty salts, often unavailable in local stores. Online platforms simplify the exploration and purchase of premium flavored salts, enhancing demand due to the allure of home delivery. As consumers become more discerning, there is a heightened demand for seasoned salts labeled as organic, gluten-free, or vegan-friendly, particularly those with sustainable packaging. Key players in the flavored salts arena include McCormick Gourmet, Morton, Wild Foods, and Sadaf. These companies are actively launching new products through partnerships to meet the surging demand. For instance, in August 2023, Oryx Desert Salt, in collaboration with the community-centric Backyard Farms (BYF), introduced its latest product, Oryx Chilli Salt, underscoring the trend of partnerships in product launches.
Salts and Flavored Salts Market Trends
Table Salt Is Highly Consumed Across The Globe
Consumers are increasingly demanding table salt, driven by its recognized health benefits. A prime example is the fortification of table salt with iodine, crucial for producing thyroid hormones. Iodine deficiency can lead to serious health issues, including goiter, stunted growth, and cognitive challenges in children. Furthermore, table salt can help reduce gum swelling, further fueling its demand. As awareness of food safety grows, consumers are transitioning from loose, unpackaged salt to trusted, branded alternatives. This shift emphasizes a desire for purity, quality assurance, and hygiene in everyday staples. Branded table salt, marketed as free from impurities and contaminants, has become especially trusted in urban areas. Additionally, salt manufacturers are actively promoting the significance of balanced salt intake. For instance, Tata Salt, in October 2023, commemorated World Iodine Deficiency Day on October 21, aligning with global observances. This day highlights iodine's vital role in cognitive development and the ongoing global challenge of iodine deficiency, particularly in children. Reinforcing this commitment, Tata Salt unveiled a campaign featuring actress Rupali Ganguly, who openly endorsed Tata Salt's purity. Consequently, public health initiatives emphasizing iodine's role in preventing health issues have bolstered the demand for table salt, especially in rural and semi-urban households. The table salt market is vibrant and competitive, showcasing both local and multinational players. Key players include Tata Salt, Redmond, and Diamond Crystal, all offering a variety of flavored salts.
Asia-Pacific Leads The Market
Salt is a cornerstone of Chinese cuisine, enhancing flavors and playing a pivotal role in methods like stir-frying, braising, and pickling. Its significance spans regional cuisines, from the spiciness of Sichuan to the subtleties of Cantonese dishes. For instance, the World Health Organization (WHO) reported in 2022 that household cooking alone accounted for a daily consumption of 9.3 grams of salt. This underscores the centrality of salt in Chinese culinary practices. In Australia, salt is equally vital, serving both culinary and everyday purposes. Beyond seasoning, it is essential for food preservation. Australians routinely use salt to enhance flavors in both traditional dishes, like barramundi and barbecues, and contemporary ones. As of 2023, Food Standards Australia New Zealand noted an average salt consumption of 5.5 grams per person. In Japan, salt is not just a flavor enhancer but a key ingredient in food preservation. Traditional practices, such as making miso soup, pickling vegetables, and seasoning grilled fish, prominently feature salt, underscoring its role in authentic flavor maintenance. Additionally, soy sauce, a staple in Japanese kitchens, is sodium-rich, shaping many dishes' unique taste profiles. Data from Japan's Ministry of Finance highlights this trend, showing a rise in salt consumption from 7.98 million metric tons in 2019 to 8.13 million metric tons in 2022.
Salts and Flavored Salts Industry Overview
The global market for salts and flavored salts is fragmented, with small-scale manufacturers holding a notable share. Major players, including K+S AG, Tata Consumer Products, ITC Ltd, Morton Salt, Inc., and McCormick & Company, employ strategies like business expansions, product innovations, partnerships, mergers, and acquisitions to secure a competitive advantage. These companies are channeling investments into their target segments and prioritizing product development to consolidate and refine their offerings. They continuously expand their product portfolios to appeal to diverse consumer demographics. To further broaden their market reach, these companies actively participate in various marketing campaigns.
Salts and Flavored Salts Market Leaders
-
McCormick & Company Inc.
-
K+S AG
-
ITC Ltd
-
Morton Salt, Inc.
-
Tata Consumer Products
*Disclaimer: Major Players sorted in no particular order
Salts and Flavored Salts Market News
- August 2024: Lawry's unveiled four new offerings: Jerk Seasoning, Seasoned Cajun, Salt & Pepper Vinegar, and Hot Garlic Parmesan. These blends promise rich flavors and premium ingredients, perfect for enhancing chicken, seafood, potatoes, vegetables, and more, all without MSG (monosodium glutamate).
- May 2024: ITC Limited, through its Aashirvaad brand, launched Himalayan Pink Salt. Aashirvaad's variant is free from added colors and is packed with essential minerals like calcium and magnesium.
- April 2024: World Finer Foods announced a collaboration with Cornish Sea Salt Company Ltd. This partnership aims to leverage World Finer Foods' distribution network to introduce the high-quality, hand-harvested Cornish Sea Salt to a broader range of food products, ensuring consumers enjoy its unique flavor and artisanal quality.
Salts and Flavored Salts Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Popularity of Gourmet Cuisine
4.1.2 Aggressive Advertising and Promotional Strategies
4.2 Market Restraints
4.2.1 Health Concerns Associated With Salt Consumption
4.3 Porters Five Forces Analysis
4.3.1 Bargaining Power of Buyers/Consumers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of Substitute Products
4.3.4 Threat of New Entrants
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Table Salt
5.1.2 Flavored and Seasoned Salt
5.1.2.1 Truffle Salt
5.1.2.2 Garlic Salt
5.1.2.3 Lime and Lemon Salt
5.1.2.4 Smoked Salt
5.1.2.5 Jalapeno Salt
5.1.2.6 Other Flavored and Seasoned Salt
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience/Grocery Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Italy
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Australia
5.3.3.4 Japan
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 K+S AG
6.3.2 McCormick & Company Inc.
6.3.3 United Salt Corporation
6.3.4 Saltworks Inc
6.3.5 INFOSA
6.3.6 Cornish Sea Salt Co
6.3.7 ITC Ltd
6.3.8 Morton Salt, Inc.
6.3.9 Tata Consumer Products
6.3.10 Groupe Salins
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Salts and Flavored Salts Industry Segmentation
Salts and flavored salts encompass both natural and processed sea salts, which may or may not have added flavorings, and are utilized in a variety of food and beverage products.
The global salts and flavored salts market is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into table salt and seasoned and flavored salt. By seasoned and flavored salt, the market is further segmented into truffle salt, garlic salt, lime and lemon salt, smoked salt, jalapeno salt, and others. Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, convenience/grocery stores, online retail stores, and other distribution channels. The market is divided based on geography into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
The market sizing has been done in value terms in USD for all the abovementioned segments.
| Product Type | ||||||||
| Table Salt | ||||||||
|
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience/Grocery Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Salts and Flavored Salts Market Research FAQs
How big is the Salts And Flavored Salts Market?
The Salts And Flavored Salts Market size is expected to reach USD 8.97 billion in 2024 and grow at a CAGR of 3.39% to reach USD 10.59 billion by 2029.
What is the current Salts And Flavored Salts Market size?
In 2024, the Salts And Flavored Salts Market size is expected to reach USD 8.97 billion.
Who are the key players in Salts And Flavored Salts Market?
McCormick & Company Inc., K+S AG, ITC Ltd, Morton Salt, Inc. and Tata Consumer Products are the major companies operating in the Salts And Flavored Salts Market.
Which is the fastest growing region in Salts And Flavored Salts Market?
Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Salts And Flavored Salts Market?
In 2024, the Asia Pacific accounts for the largest market share in Salts And Flavored Salts Market.
What years does this Salts And Flavored Salts Market cover, and what was the market size in 2023?
In 2023, the Salts And Flavored Salts Market size was estimated at USD 8.67 billion. The report covers the Salts And Flavored Salts Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Salts And Flavored Salts Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Salts and Flavored Salts Industry Report
Statistics for the 2024 Salts and Flavored Salts market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Salts and Flavored Salts analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
