Salts And Flavored Salts Market size is set to grow by USD 11.30 billion from 2024-2028, Strategies adopted by leading players boost the market, Technavio

NEW YORK, July 26, 2024 /PRNewswire/ -- The global salts and flavored salts market size is estimated to grow by USD 11.30 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. Strategies adopted by leading players is driving market growth, with a trend towards growing influence of online retailing. However, health risks and diseases related to salt and sodium poses a challenge. Key market players include Ajinomoto Co. Inc., Amagansett Sea Salt Co., Cornish Sea Salt Co. Ltd., El Nasr Salines Co., HimalaSalt, Himalayan chef, Hoosier Hill Farm LLC, INFOSA, ITC Ltd., KS Aktiengesellschaft, McCormick and Co. Inc., Olde Thompson, Red Monkey Foods Inc., SaltWorks Inc., Suprasel, Tata Sons Pvt. Ltd., Twang Partners LLC, United Salt Corp., Vancouver Island Salt Co., and Verlag A.Vogel AG.

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Market Driver

The e-commerce sector's expansion has presented significant opportunities for vendors in the salts and flavored salts market. In 2023, e-commerce represented approximately 19% of global retail trade, with online channels supporting both B2B and B2C operations. The rising number of Internet users and the increasing preference for online shopping have led to an increase in the average online transaction value and the overall number of transactions. With Internet penetration rates reaching 97.8% in the UK, customers appreciate the convenience of shopping online and paying via credit or debit cards. Online retailers have addressed security concerns with advanced features, while user-friendly websites showcase products effectively. This trend benefits manufacturers by targeting tech-savvy consumers and reducing operational costs, ultimately driving the growth of the global salts and flavored salts market. 

The Salts and Flavored Salts market is witnessing significant growth due to increasing consumer demand for clean label products and allergen avoidance. Herbs and spices are popular additives, offering unique flavors to various food and beverage products. Solubility and mineral content are key factors driving the market, with applications ranging from salads and sauces to packaged foods, savory products, and even fish, meat, and grilled vegetables. Normal salt alternatives like chili, lemon, garlic, ginger, onion, and others are trending, catering to Western culture and changing consumer eating habits. The food service industry is also embracing these natural food products for their nutritional benefits and cost-effectiveness. Commercialization of healthy alternatives, such as vitamin and mineral-fortified flavored salts, is on the rise, offering longer shelf life and catering to the growing demand for nutritional products. 

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Market Challenges

• The global salts and flavored salts market faces challenges due to increasing health consciousness among consumers. Excess sodium intake, primarily from conventional gourmet salt, can lead to various health issues such as high blood pressure, heart diseases, kidney diseases, and obesity. According to the Centers for Disease Control and Prevention (CDC), over 90% of adults and 89% of children in the US consume more sodium than the recommended amount. The average salt intake in India is double the World Health Organization (WHO) recommendation. Consuming too much sodium can even contribute to autoimmune diseases and overstimulate the immune system. The WHO has set new guidelines for sodium levels in packaged food, aiming to help manufacturers reduce sodium content. The FDA recommends that edible salts should not exceed 0.01% potassium iodine, and the 2015-2020 Dietary Guidelines for Americans suggest limiting sodium intake to 2,300 mg daily for the general population and 1,500 mg daily for those with high blood pressure. These guidelines and growing health awareness are expected to hinder the growth of the salts and flavored salts market during the forecast period.
• The Salts and Flavored Salts market is witnessing significant growth due to increasing consumer preference for healthy lifestyle and exotic indulgences. Start-ups are capitalizing on this trend by offering high-quality Himalayan salt and various flavored salts like Table & Shaker Salt, Smoked Salt, Jalapeno Salt, Truffle Salt, and Garlic Salt. However, challenges include maintaining a long shelf-life, ensuring nontoxic food flavor, and avoiding preservatives. Consumer preferences for gluten-free, organic, and free-form labeled products are driving demand for sodium reduction ingredients like Potassium Chloride, Magnesium Sulfate, Calcium Chloride, and Potassium Lactate. The semi-processed food segment, including fast food and meat industries, is a significant market for these salts. Herbs and spices, including foreign cuisines like Italian and French food, are popular flavor combinations. Social media marketing and promotional activities are key strategies for start-ups to reach consumers. Government and private company interventions regarding sodium content in food may impact market growth.

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Segment Overview 

This salts and flavored salts market report extensively covers market segmentation by

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. End-user 
• 2.1 Food and beverages industry
• 2.2 Food service industry/quick service restaurants
• 2.3 Household
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline- The offline segment dominated the global salts and flavored salts market in 2023, accounting for the largest market share. This trend is primarily due to the effectiveness of the offline distribution channel, which allows customers to examine products before purchasing and provides a wide range of options. In developing countries like India and China, physical stores, including hypermarkets, supermarkets, and convenience stores, are the major sales channels for salts and flavored salts. The increasing number of these retail outlets drives sales growth, with large storage areas and extensive product offerings from vendors such as K S AG, Tata Sons, and McCormick and Co. To maintain competitiveness, retailers employ strategies like better pricing and wider assortments. Despite the decline in offline sales due to online shopping, the market is expected to grow, with the expansion of retail channels and innovative marketing fueling demand. However, the COVID-19 pandemic negatively impacted offline sales in 2020, but the reopening of retail stores in H2 2021 led to a rebound in demand. Overall, the offline segment will continue contributing to the growth of the global salts and flavored salts market during the forecast period.

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Research Analysis

The Salts and Flavored Salts market encompasses a wide range of products, from plain Table Salt to flavored varieties like Seasoned Salt, Smoked Salt, Jalapeno Salt, Truffle Salt, and Garlic Salt. These salts have gained popularity due to the trend towards clean-label products and the demand for natural and semi-processed food products. Western culture and changing consumer eating habits have fueled the growth of this market. Flavored salts offer nutritional benefits, adding flavor without the need for added preservatives or artificial flavors. The fast food industry and meat industry are significant consumers of salt, while herbs and spices are often used to create unique flavors. Solubility and mineral content are important factors in the production of salts, making them suitable for various applications, including salads, sauces, packaged foods, savory products, and seasoning for fish. Beverages are also a growing area for the use of flavored salts.

Market Research Overview

The Salts and Flavored Salts market is witnessing significant growth due to the increasing trend towards clean-label products and healthy alternatives in semi-processed food and natural food products. Western culture and consumer eating habits are driving the demand for nutritional benefits from salt, leading to the commercialization of flavored salts in food and beverage products. Himalayan salt, table salt, and shaker salt are popular choices, with nontoxic food flavors replacing preservatives for longer shelf life. Start-ups are entering the market with organic, gluten-free, and free-form labeled salts, offering a healthy lifestyle and nutritional value. Exotic indulgences like smoked salt, jalapeno salt, truffle salt, garlic salt, and seasoned salt are gaining popularity. The fast food industry and meat industry are major consumers, with herbs and spices, foreign cuisines, and sodium reduction ingredients like potassium chloride, magnesium sulfate, calcium chloride, and potassium lactate used for flavor combinations and nutritional value. Government and private company interventions are promoting the use of organic food ingredients and clean labels, while social media marketing and promotional activities are driving sales. Consumers prefer high-quality products, with consumer preferences influencing the market trends towards proteins, fiber, fats, and allergen avoidance. Salts and flavored salts are used in various applications like salads, sauces, packaged foods, savory products, seasoning, fish, meat, grilled vegetables, and beverages, making it a versatile market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• End-user
• Food And Beverages Industry
• Food Service Industry/quick Service Restaurants
• Household
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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