Fortified Salts Market size is expected to exceed the annual consumption of 19.4 kilotons by 2024. Changing lifestyle along with favorable government regulations will drive the industry outlook.
Growing malnutrition concerns among children and adults along with increasing demand for nutritious diet will drive fortified salts industry growth. Rising health risks due to low consumption of iron, and iodine will fuel production penetration.
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Rising hair loss problem among youths and middle-aged people is projected to support product demand in the coming years. Increasing hair follicle strength will be key factor driving growth in this segment. Treatment from sun or heat stroke, a condition in which body’s heat regulating system fails to maintain normal temperature will drive product demand in tropical region.
Fortified food products are primarily used to fulfil nutritional deficiencies as well as to enhance the immune system in human bodies. Thus, after the outbreak of COVID 19 increasing awareness as well as necessity among consumers about immunity to safeguard themselves from the virus had accelerated the sales of such products. This factor in turn has increased the demand for fortified salt. COVID-19 has disrupted the value chain across the globe owing to shut down of manufacturing facilities, restriction of transportation, and closures of borders across the countries. This factor has hampered the production and sales of the product across the globe, however, since it falls under essential food items the production was resumed after a short period. Moreover, increasing support of e-commerce for essential food items is expected to increase the sales of the product in developed countries. However, limited awareness and low purchasing power in developing countries will hamper the fortified salts market growth.
Health threats including tuberculosis and kidney ailments, and thyroid papillary cancer due to over consumption may restrain product demand. Limited dosage is prescribed to avoid any kind of side effects.
|Market Size in 2016:||3.5 Billion (USD)|
|Forecast Period:||2017 to 2024|
|2024 Value Projection:||7 Billion (USD)|
|Historical Data for:||2013 to 2016|
|No. of Pages:||300|
|Tables, Charts & Figures:||576|
|Segments covered:||Product Iodine, and Region|
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Iodine segment of fortified salts market was valued at over USD 1.3 billion in 2016. Need for maintaining Basic Metabolic Rate (BMR) in humans for normal functioning of all organs will support the business growth. Proper thyroid gland functioning by improving hormone production, which is responsible for maintaining body’s BMR will drive the product demand.
The product provides benefits such as flushes out the chemical from body including, mercury, lead, fluoride, and biological toxins which will further stimulate iodine demand.
Double fortified salts market is set to register over 8.5% CAGR through 2024. Increasing anemia among people in Asia Pacific is expected to drive the segmental growth. It is an effective product in improving iron deficiencies among humans and in lowering multiple deficiencies risk which results from inferior quality diet.
Fortified salts industry from hospitality & services application will surpass USD 1.5 billion by 2024. Rising demand of healthy and flavored food in multicuisine restaurants will propel the product landscape.
Extensive application scope of fortified salts in the preservation of meatballs, canned meats, roasts, hams, meatballs, and fish will favor the industry expansion. According to Organization for Economic Co-operation and Development, meat consumption is estimated around 80 kilograms on average per person in developed countries and 32 kilograms per person in developing countries.
Household & animal feed segment is observed to be the fastest growing application and will witness over 7.5% CAGR through 2024. Rising consumer awareness along with disease outbreak in cattle has driven the market demand in this segment.
Hypermarket & supermarket segment of fortified salts market will observe a significant CAGR of 7% through 2024. These stores offer huge discount to the customers on buying bulk items and convenience which is likely to drive this segment’s growth.
Online distribution channel segment is set to surpass USD 1.45 billion by 2024. Growing e-commerce industry & usage of plastic money, multiple payment modes, broad product portfolio and increasing investment in logistics & warehouses will enhance the product sale through this channel.
Asia Pacific, led by India and China’s annual consumption exceeded t 4 kilotons in 2016. Surge in demand for nutritious food with the growing ageing population to increase life expectancy level will benefit the product demand.
Europe fortified salts market is projected to witness a moderate CAGR and will surpass 3.5 million tons by 2024. The region has adopted salt reduction framework due to excessive intake of salt which has resulted in increased sodium product in the body.
North America fortified salts market size exceeded USD 1.5 billion in 2016. Growing obese population will drive the industry expansion as more than one-third of adults are overweight in the region. The product maintains optimal energy level in body by effective calorie utilization, without allowing it to deposit as excess fats.
The industry share is moderately fragmented in nature owing to the presence of large regional manufacturers. Companies are engaged in collaboration, partnership and new product launch which will provide an opportunity for them to increase product penetration. Major players are anticipated to increase their supply chain network across Asia Pacific and North America to capture a bigger share of industry. Entry of new industry players will gradually increase owing to high-profit margin.
Key players of global fortified salts market include Cargill, Tata Chemicals, AkzoNobel, Compass Minerals, China National Salt Industry, Ankur Salt, Sambhar, Schweizer Salinen, United Salt Corporation and Kutch Brine Chem Industries.
The fortification of salt is done to add iodine, iron or both which increases its health benefits. The product is different from conventional counterparts in terms of iodine and iron content.
In last few years, number of babies born prematurely due to iron and iodine deficiency increased significantly. The consumption of sodium chloride with added nutrients has witnessed significant gains. Food experts urged customers to check product labels and choose items with high nutritional ingredients.
Fortified salts market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons and revenue in USD Million from 2013 to 2024, for the following segments:
By Distribution Channel
The above information has been provided on a regional and country basis for the following: