Gourmet Salt Global Market Report 2023

NEW YORK, March 16, 2023 /PRNewswire/ -- Major players in the gourmet salt market are Murray River Salt, Infosa, Cargill Inc., Alaska Pure Sea Salt, Pyramid Salt Pty Ltd., Maldon Crystal Salt Co, Amagansett Sea Salt Co, The Sea Salt Co, Morton Salt Inc., Saltworks Inc., Kalahari Pristine Salt Worx, San Francisco Salt Company, Salty Wahine Gourmet Hawaiian Sea Salts, Sea Salt Superstore, and HEPP'S Salt.

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The global gourmet salt market grew from $4.22 billion in 2022 to $4.52 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The gourmet salt market is expected to grow to $5.97 billion in 2027 at a CAGR of 7.2%.

The gourmet salt market consists of sales of salt flakes, smoked Salt, coloured salt, coarse sea salt, pretzel salt, finishing salt .Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Gourmet salt is a salt derived from evaporated seawater or mountains with low sodium content and high mineral presence.It is an unrefined high-quality salt differing in flake size, texture, and color.

Gourmet salt is used as a seasoning for pretzels, bread, fish, roasted veggies, tomatoes, and fruits. It comes in various forms including Fleur de sel, Sel gris, Himalayan salts, Indian pink salt, Italian salts, and smoked salts.

Western Europe was the largest region in the gourmet salts market in 2022.North America is expected to be the fastest-growing region in the forecast period.

The regions covered in the gourmet salts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of gourmet salts include fleur de sel, sel gris, himalayan black salt, flake salt, specialty salt, and other types.The fleur de sel salt refers to sea salt harvested from evaporated seawater.

It has a higher moisture content (10%) than ordinary salt allowing salt crystals to stay together.It is best used as a finishing salt.

They are used in preparations of bakery and confectionery, meat & poultry products, seafood products, sauces and savory, and other applications, and they are sold through supermarkets/hypermarkets, convenience stores, online retailing, speciality stores, and others.

The increasing demand for processed food products is driving the growth of the gourmet salt market.A processed food product is a food product that has been altered in some way during preparation and it can be freezing, canning or baking.

The canned, frozen, or half-cooked food products need more shelf life, and gourmet salt is beneficial in preserving the food & extending the shelf life of processed food products.The demand for gourmet salt increases as the need increases for processed food products.

For instance, in April 2022, the Ministry of Food Processing Industries of India, under the Production Linked Incentive Scheme For Food Processing Industry (PLISFPI), approved investment proposals of 119 processed foods companies to accelerate the domestic growth of processed food items. Therefore, the increasing demand for processed food products is driving the growth of the gourmet salt market.

Technological advancement is a key trend gaining popularity in the gourmet salt market.Technological advancements in gourmet salt include innovating and implementing new production techniques for the generation of gourmet salt with new content making the product, which is rich in quality without harming the environment.

Major companies operating in the gourmet salt market are focusing on implementing sophisticated technologies for salt manufacturing to meet the demand for high-quality food-grade salts and gourmet salt. For instance, in November 2022, Truff, a US-based gourmet sauce company, introduced black truffle salt, a combination of fine and coarse sea salt and black truffle flecks for additional aroma and flavor, which can be used as a finishing salt to sprinkle on top of a meal or as a substitute for ordinary salt when cooking.

In December 2020, Norwest Equity Partners (NEP), a US-based leading venture and growth equity firm focusing on consumer, enterprise, and healthcare sectors, acquired Red Monkey Foods for an undisclosed amount.This acquisition will help to capitalize on the compelling trends with the new partner's resources and further build the business into an even stronger and diversified, industry-leading company.

Red Monkey Foods is a US-based company that provides private-label organic spices, seasonings, and gourmet salt.

The countries covered in the gourmet salt market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The gourmet salt market research report is one of a series of new reports that provides gourmet salt market statistics, including gourmet salt industry global market size, regional shares, competitors with a gourmet salt market share, detailed gourmet salt market segments, market trends and opportunities, and any further data you may need to thrive in the gourmet salt industry. This gourmet salt market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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