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Micronized Salt Market: Highest Demand to be Witnessed from Prepared Meals During the Forecast Period: Global Industry Analysis and Opportunity Assessment 2018-2028

Report Description

Micronized salt is extremely fine granules of salt that is specially pulverized and finely powdered for increased solubility. It is obtained by evaporating salt brine into high purity salt crystals under artificially produced vacuum. The advantage of using this technique is that the purity of salt produced in output is more than 98%. Also, using pressure reduces the temperature required for such efficient evaporation.

The global Micronized Salt market is estimated to be valued at US$ 2,319.0 Mn by 2018 end and is forecast to be valued at US$ 3,305.8 Mn by 2028 end. Sales revenue is expected to increase by a CAGR of 3.6% during the forecast period.

Micronized Salt Market: Drivers & Restraints

According to the USDA, for micronized salt, the processed food industry is the prime revenue-generating sector in the North America region. With the export of almost all kinds of processed preparations and meat products, the region is in substantial demand for ingredients to feed the industries. Micronized Salt is primarily used to increase the shelf life of meat and vegetables and as a flavoring agent. These two sectors are expanding into global markets, which are expected to fuel the demand for food grade salt. Micronized salt is majorly used in the food industry due to its high purity and consistency. This, with the high demand for food grade salt in the processed food and beverage industry, is expected to drive the micronized salt market in the region over the forecast period.

However, the 2015-2020 Dietary Guidelines for Americans recommend that Americans need to consume less than 2,300 mg of sodium each day as part of a healthy eating pattern. But, in reality, the average consumption of salt per day per person in the U.S is 3,400 mg, according to the U.S. Center for Diseases Prevention and Control. This has resulted in food manufacturers and the salt sensitive population (25% of total population) to opt for salt replacers, as high sodium is linked to many sedentary diseases. The demand for salt replacers is high in the region, as they significantly drop the sodium level in food, and maintain the equivalent taste. With modern technology and techniques, companies have removed the bitter aftertaste of potassium salt by using bitterness blockers and masking agents like L- lysine. This is expected to limit the potential for growth in the micronized salt market, as the food industry is a major consumer of micronized salt.

Micronized Salt Market: Taxonomy

The micronized salt market is segmented based on grade and application segment. By grade, the micronized salt market is segmented into purity 98% - 99.5% and purity above 99.5%. Among these segments, above 99.5% purity salt is expected to dominate in the global micronized salt market both in terms of value and volume during the forecast period. By application, the micronized salt market is segmented into bakery & confectionery products, meat, poultry & seafood, milk & dairy products, beverages, canned/preserved fruits & vegetables, prepared meals and others. Among all of the segments bakery & confectionery products segment is expected account for largest value share followed by meat, poultry & seafood segment by 2028 end.

Micronized Salt Market: Analysis by Region

By region, the global micronized salt market is segmented into North America, Western Europe, South East Asia & Pacific, Latin America, Eastern Europe, Middle East & Africa, China, Japan, and India. The micronized salt market report covers trends driving each segment and offers analysis and insights regarding the potential of the micronized salt market in specific regions with region wise drivers, restraints, opportunity and trends. In terms of volume, North America and Western Europe collectively accounted for more than 40.3% share in the global micronized salt market in 2017. Also, China is expected to witness a high growth rate of the micronized salt market through 2028 in terms of demand. India is anticipated to also show a substantial amount of consumption over the forecast period.

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