Gourmet Salts Market size to exceed $1.5bn by 2024
Published Date: June 19, 2017 Authors: Kunal Ahuja, Amit Rawat
Gourmet Salts Market size is estimated to exceed USD 1.5 billion by 2024; according to a new research report by Global Market Insights, Inc.
Potential outlook in culinary & preserving applications along with increasing adoption of gourmet food in luxury restaurants globally will propel the gourmet salts market size. Enhancing taste, flavor and aroma in foods are the key properties stimulating industry growth.
Rising consumer spending on food & beverages due to changing lifestyle will drive the industry demand. Global food & beverage industry will surpass USD 9.5 trillion by 2024 growing at over 3.4%. Increasing product consumption in dressing and seasoning of foods will further support the product scope.
High preservation and moisture retaining property has resulted in increasing applications in seafood & meat processing to improve the shelf-life. Global per capita fish consumption reached 20.5 kg per capita, with annual growth around 1% in 2016.
Increasing consumer health consciousness along with shifting preference for low sodium saline are the key factors driving the gourmet salts market growth. High product usage for curing in beauty centers & spas for personal care treatments enhanced the product demand. Rising health issues including hypertension, cardiovascular diseases, and high blood pressure will fuel the product penetration.
Fleur de sel holds 35% of the overall gourmet salts market share. Strong outlook in roasted meats, vegetables dishes and salads will support the product demand. High magnesium chloride and calcium content makes it beneficial for human consumption. High moisture absorption enhancing flavors to the taste buds will drive the demand.
Sel gris market was over 10 kilo tons in 2016. Increasing product usage as a finishing and cooking product owing to its coarse texture will drive the industry growth. It is moist, unrefined and considered as the best quality salt among professional chefs.
High availability of the gourmet salts variations including 84 distinct types of metal, elements and minerals enhanced the product demand. Expensive prices along with lack of product awareness are the major restraints of the gourmet salts market growth.
Browse key industry insights spread across 250 pages with 149 market data tables & 10 figures & charts from the report, “Gourmet Salts Market Size By Product (Coarse Salt, Fleur Se Sel, Flake Salts, Sel Gris, Himalayan Salts, Specialty Salts), By Application (Bakery & Confectionary, Seafood, Meat & Poultry, Sauces & Savories), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, South Korea, Japan, Indonesia, Thailand, Mexico, Brazil, GCC, Turkey, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Meat & poultry demand is anticipated to worth around USD 510 million by 2024. Changing lifestyle and improved preservation technology in processed meat, fish and poultry will fuel the product demand. Rising demand as preservative for canned meats, hams, roasts, meatballs, and fish, enhances the gourmet salts market growth.
Bakery & confectionary market will witness over 8.5% CAGR up to 2024. High product acceptance owing to its superior properties including enhanced food taste, distinct flavor, appearance, color, and aroma will drive the revenue growth.
Europe, led by UK and Germany gourmet salts market is the fastest growing region, estimated to value over USD 724 million by 2024. Rising demand for processed food particularly in Italy, Spain, Germany and France will drive the regional industry growth.
Asia Pacific gourmet salt market, dominated by China is expected to witness growth over 7.5% up to 2024. Growing health awareness, increasing disposable income along with surging demand for processed food will support the industry demand.
The U.S. gourmet salts market was valued more than USD 217 million in 2016. Improved standard of living coupled with increasing commercialization in food industry though several promotions are the driving factors of the industry growth. Increasing consumer awareness about product benefits accompanied by expansion in food & beverage industry will propel the product demand.
Global gourmet salts market is competitive due to presence of regional industry players. High profit margins of the industry have encouraged manufacturers & vendors to expand production capacity and improve supply chain network. Some of the key industry players in gourmet salts market are Cargill, Morton, CK Life Sciences, Amagansett, Dominion, Irish Atlantic, Devonshire, Alaska Pure, Cargill, Murray, Marblehead, Infosa and Marblehead.
Gourmet 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:
Gourmet Salts Market, By Product
- Coarse salts
- Fleur de sel
- Flake salts
- Sel gris
- Himalayan salts
- Specialty salts
Gourmet Salts Market, By Application
- Bakery & confectionary
- Meat & poultry
- Sauces & savories
The above information has been provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America (LATAM)
- South Africa