Gourmet Salt Market Analysis Revenue, Regional Analysis, Insights, Growth with Top Companies
Market Highlights
The global gourmet
salt market is projected to be valued at USD 477.40 million by 2028,
recording a CAGR of 6.17% during the forecast period. The growth of the gourmet salt market is
anticipated to be driven by several factors during the forecast period from
2021 to 2028. Salt has always been a common household staple and commodity
across the globe. However, there has been a gradual transformation of common
cooking ingredients into a gourmet item that has multiple origins and
processing methods. Owing to the rarity and high production cost, the price
labels of gourmet salt is always 15-20 times higher than table salt. For
instance, few exotic varieties of gourmet salt are sold for more than USD
20/ounce as compared to regular table salt at USD 0.02/ounce. There has
been a gradual reduction in salt usage across the world where food
manufacturers are focusing on cutting salt in their production processes. The
US has seen falling sodium levels in certain product categories such as 14%
decrease in potato snacks, 23% fall in snack mixes, and nearly 11% decrease in
bread and bread products.
Worldwide lockdown due
to the outbreak of COVID-19 has affected the production process of gourmet
salt, which has highly impacted the supply of the raw materials required to
produce gourmet salt. This has led to the increased prices of raw materials for
the manufacturers of gourmet salt. Moreover, the COVID-19 impact on logistics
is also expected to contribute to the increased prices of raw materials. With
barriers in the cross-border transportation of commodities in this pandemic
situation, the manufacturers are highly dependent on local raw material
suppliers, which increases the bargaining power of the suppliers. Thus, the
increased raw material prices would lead to an increased price of gourmet salt
in the next couple of years.
Market Key Player
The key players
in the global gourmet salt market: Morton Salt, Inc. (US), Saltworks, Inc.
(US), Cargill, Inc. (US), Murray River Gourmet Salt (Australia), Cheetham Salt
Ltd. (China), Alaska Pure Sea Salt Co. (US), Amagansett Sea Salt Co. (US),
Infosa (Spain), Pyramid Salt Pty.Ltd. (Australia), Maldon Crystal Salt Company
Ltd (UK).
Segmental Analysis
The global gourmet salt market has been segmented based on product type,
category, claim, application, and region.
By product type, the
global gourmet salt market has been divided into Himalayan salt, fleur de sel,
sel gris, smoked & roasted salt, flavored salt, and others. The Himalayan
salt segment accounted for the largest gourmet salt market share in 2020.
Himalayan salt is the purest form of salt which is widely available as pink
coloured crystals. This type of gourmet salt are hand selected, hand crushed,
and sun dried which makes them a rich source of minerals and amino acids.
Himalayan salt also offers a good source of calcium and iron. One serving of
Himalayan salt contains 0g sugar, 0g trans fat, and 0mg cholesterol. Growing
health concerns among consumers are expected to drive the sales of Himalayan
salt segment during the years to come.
On the basis of category,
the global gourmet salt is segment on the basis of refined and un-refined. The
un-refined segment captured the lion’s share and is also expected to grow at a
faster rate during the forecast period. Gourmet salt differ from table salt
majorly on the basis of refining. Gourmet salt are usually un-refined as the
trace minerals retained offer unique taste and flavor.
Based on claim, the
global gourmet
salt market analysis has been segmented as organic, sodium free/low sodium,
and conventional. The organic segment is projected to exhibit the highest CAGR
of 6.28% during the forecast period. Since salt is a mineral, therefore there
are no such organic certifications set by governmental regulations. However,
gourmet salt harvested in a natural and safe environment are labelled as
organic. Organic gourmet salt are harvested entirely by hand by using wooden
tools. Moreover, the ponds and salt mines from which gourmet salt are harvested
are located in nature reserve that are at a safe distance from roads and industrial
areas to maintain pollution-free environment. Increasing demand for clean label
ingredients are majorly aiding to the growth of organic gourmet salt market revenue
across the globe.
Based on application,
the global gourmet salt market has been segmented into bakery &
confectionery; meat, poultry, & seafood; soups, sauces, & savory; and
others. The meat, poultry, and seafood segment accounted for the largest market
share in 2020. The bakery & confectionery segment captured the second
largest market share in the same year. Salt helps in binding meat proteins
together which leads to the formation of a desirable gel texture upon cooking.
Gourmet salt are widely added in meat dishes such as roasted chicken, grilled
beef, BBQ pork, and smoked fish for an added smoky flavor and unique taste.
Wide applications of gourmet salt in food & beverages is boosting the
market growth across the globe.
Regional Analysis
Geographically, the global
gourmet salt market size has been categorized as North America, Europe,
Asia-Pacific, and the Rest of the World. As per MRFR analysis, Europe
constituted a dominant share of the gourmet salt market in 2022. Improvements
in the lifestyles of the consumers prompt them to consume natural and healthy
alternatives, which is fueling the growth of the regional gourmet salt market.
Additionally, consumers have now become conscious regarding the ingredients
that are used in daily cooking, such as salt and cooking oil, which in turn is
positively impacting the growth of the gourmet salt market in Europe. Also, the
market in Asia-Pacific offers lucrative opportunities for manufacturers of
gourmet salt owing to rising rate of globalization which is creating a traction
for foreign cuisines in the region. The key manufacturers in North America
emphasize promotional activities through cooking shows and celebrity
endorsements to drive the sales of gourmet salt. Furthermore, innovations in
gourmet salt in terms of added flavor and taste is accelerating the growth of
the North American market. The Middle East & Africa gourmet salt
market is projected to register a slow growth during the forecast
period. Limited advancements in technology and low per capita spending
capacity of the population in Africa are curbing the regional market growth.
Key Findings of the
Study:
- The global gourmet salt market is
projected to register a growth rate of 6.17% from 2021 to 2028.
- The Himalayan salt segment is estimated to
retain its prominent share till 2028. The smoked & roasted salt
segment is projected to record the highest CAGR of 6.41% during the
forecast period.
- The un-refined segment accounted for the
larger market share in 2020 and is also estimated to register a higher
growth rate during the forecast period.
- The organic segment is expected to
register the highest growth rate during the forecast period.
- The meat, poultry, & seafood segment
is estimated to retain its dominant share till 2028, whereas the others
segment is estimated to register a highest growth rate during the forecast
period.
NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
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