Gourmet salt industry stands to gain massive proceeds through hefty product merchandising, industry giants to unleash profitable opportunities pertaining to rising business acclaim
Published Date: July 25, 2017 Author: Satarupa De
Riding on the hallmark of trending flavors, gourmet salt industry has been undoubtedly experiencing a period of triumph of late, with consumers and restaurateurs seeking to unlock their culinary potential. In an era of where the hospitality sector is fueled by ingredient driven cuisine, consumers are presumably more interested in what the ingredients have to offer in terms of taste as well as the health factor. The growing popularity of gourmet salts market can be majorly credited to this fundamental aspect. The fact that these hand harvested salts encompass low sodium and high mineral content places them on a stand above their traditional counterparts, thereby contributing toward shaping gourmet salt market size. These salts contain traces of minerals like magnesium, potassium, and iodine, which when taken in moderate amounts, help in balancing blood pressure. Undeniably the unique texture and flavor that they impart to a dish when used as a garnishing element or as a main ingredient adds an extra mark to its market value. Investors are highly optimistic toward the projected gourmet salt industry outlook and are betting big with regards to the potential opportunities it is likely to offer.
Statistics depict that gourmet salt industry was indeed a billion-dollar business in 2016, which stands as a vital testimony to its colossal contribution to the food industry. In this regard, it is prudent to note that the last couple of years have really been quite challenging for the food service and restaurant industry, considering the dynamic shift in consumers’ food choices, increased competition, and escalating food commodity prices. However, it has been surveyed that these challenges have acted in favor of gourmet salt market proliferation. The wave of westernized food trends along with increasing inclination toward organic food consumption have substantially driven the demand for artisanal cuisines, thereby impelling gourmet salts industry share. Growing consumers’ indulgence in exotic food items is quite evident from the remarkable revenue collection of restaurant industry in 2016, accounting for nearly USD 3 trillion and subsequently augmenting gourmet salts industry share.
Another profound factor that is a driving force behind the gourmet salt market demand is the downward trend of salt intake in food items around the world in the past few years. Myriad initiatives have been undertaken worldwide to increase awareness regarding the health risks associated with high sodium consumption. In 2016, the FDA had released a new draft sodium guidance for restaurants and food manufacturers to cut down salt level utilization in food items. Simultaneously, WHO has also agreed to limit the salt intake of the global population by around 30% within 2025. The aforementioned factors are certain to bring forth lucrative growth prospects for gourmet salt industry, with an influx of business giants eager to capitalize on the industry’s projected business opportunities.
A major disruptive trend that might extensively impact gourmet salt industry outlook is the humongous list of claims put forward by market analysts regarding the taste and health benefits of these salts. While these salts unrefutably enhance the taste of cuisines, their contribution toward human health is still debatable. Many industry experts assert that gourmet salts possess lower sodium content as opposed to table salts. However, many others proclaim that though these salts contain traces of minerals that are usually absent in conventional table salts, the sodium content encompassed by both are the same. In this regard, CASH (Consensus Action on Salt and Health) had recently claimed that there is not much of a difference between gourmet salts and table salts with regards to the sodium chloride content. Nonetheless, gourmet salts are less processed than table salt, which anyway elevates their standard and indirectly contributes toward the reshaping of gourmet salts industry.
Below is the preview of the product landscape of gourmet salt industry:
Fleur De Sel gourmet salt industry
Often called the ‘caviar of salts’ by gourmet chefs worldwide, Fleur de Sel procured a significant 35% share of the global gourmet salt industry revenue in 2016. These light moist crystals resembling tiny snowflakes are extensively deployed in processing confectionaries such as chocolates, breads, and caramels. A distinctive flavor, better solubility, high mineral content, and moisture enable their utilization in roasted meats, vegetable dishes, and salads. Fleur de Sel marks its presence among the most highly-priced salts worldwide and is harvested in France, off the Brittany coast. Its harvesting process is highly weather conditional, owing to which its overall yield is comparatively low, thereby making it a prized commodity in the gourmet salt market. With its increasing demand as a finishing ingredient in salads, grilled meats, and fresh vegetables, gourmet salts industry from Fleur de Sel is set to witness a global upswing in the coming years.
Himalayan gourmet salt market
Renowned geologists have long since concluded that Himalayan salt is a harvested from a mine located in the Punjab region of Pakistan, which is proclaimed to be world’s oldest salt mine, with a history of 800 million years. Today, it quite a common name in gourmet salt industry, attesting to the fact that it has a nutritional credibility of 84 minerals. Apart from being widely adopted for skin rejuvenation, restoration, therapy and other healing applications, it is also extensively utilized as a main ingredient in cooking and for garnishing. With a diversified bag of benefits such as electrolyte balancing, harmful toxin elimination, efficient nutrient absorption, and enhancement of taste buds, Himalayan gourmet salt market is likely to gain a huge traction down the line of seven years.
Sel gris gourmet salt market
Sel gris is one of the most unique gourmet salts that exists, and is available in various shades of grey. Traditionally harvested from clay-lined salt ponds across the Guérande coast of France, these iconic artisanal salts possess a crunchy crystalline texture and incredible moisture retention capacity. As per estimates, sel gris salts grabbed a sizable portion of gourmet salt market size in 2016, acquiring almost 10 kilo tons in terms of volume. Owing to the coarse texture, they are increasingly used as toppings for breads, confections, and cookies. Arguably certified as one of the best quality salts by professional chefs, this particular gourmet salt will observe unrivaled popularity across food manufacturers and commercial kitchens, and thereby, will contribute toward the projected valuation of global gourmet salt industry.
Gourmet salt industry Dynamics
Gourmet salts are comparatively more expensive than conventional table salts, subject to their uniqueness, variegated appeal, distinctive flavors, and rich mineral content. The high price trends of gourmet salt market can also be grounded on the fact that they are hand-harvested from typical sources that are universally considered exotic. While this trend is not exactly a roadblock, it is one of the factors responsible for gourmet salt industry finding stumbling obstacles to penetrate smaller, low-budget food businesses. Another issue that can be considered a disruptive trend is the dearth of proper consumer knowhow about the potentiality of gourmet salts. However, with the increasing number of food reality shows and cookery channels, awareness is likely to grow exponentially in the coming years. The rapid expansion of gourmet restaurant chains across the world have resulted in an increased consumption of gourmet salts. On these grounds, it is safe to assume that gourmet salt market has been proliferating numerous food businesses at quite a rapid pace.
Though still at a nascent stage, the graph of gourmet salt industry has depicted an upswing over the recent years as far as global product demand is concerned. This industry is anticipated to revolutionize the traditional salt business space, with the influx of numerous application domains. With leading companies focusing on increasing the production and investing in quality products, gourmet salt industry size, by 2024, is poised to hit an appreciable revenue of USD 1.5 billion.
Global Market Insights, Inc. has a report titled “Gourmet Salt Market Size By Product (Himalayan Salts, Sel Gris, Fleur De Sel, Flake Salts Specialty Gourmet Salts), By Application (Bakery & Confectionery, Seafood, Meat & Poultry, Sauces & Savories), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Indonesia, Thailand, Brazil, Mexico, GCC, Turkey, South Africa), Competitive Market Share & Forecast, 2017 – 2024” available at https://www.gminsights.com/industry-analysis/gourmet-salts-market