by The Mineral Salt Ingredients Market is estimated to be valued at US$ 10.56 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Mineral salt ingredients are food additives that provide essential minerals to the human body when consumed. They are commonly used in bakery products, breakfast cereals, processed foods, nutritional supplements, infant formulas, and confectionery items to improve taste and nutrition. Sodium chloride, calcium carbonate, potassium chloride, and magnesium compounds are some of the widely used mineral salt ingredients. They impart essential functions such as taste enhancement, texture modification, shelf-life extension, and leavening in various food products.
Market Dynamics:
The mineral salt ingredients market is driven by the rising demand for mineral enriched convenience and packaged food products. Processed and packaged food companies are increasingly using mineral salt ingredients to fortify their products with vitamins and minerals. Furthermore, the growing health-conscious consumer base is urging food manufacturers to enhance the nutritional value of food products, which is propelling the demand for mineral salt ingredients. According to a report by the United Nations International Children’s Emergency Fund (UNICEF), over 2 billion people worldwide suffer from deficiencies in essential micronutrients such as iron, iodine, folate, vitamin A, and zinc. This has prompted food processing companies and nutritional supplement manufacturers to add targeted minerals in their products, thus boosting the growth of the mineral salt ingredients market.
Segment Analysis
The mineral salt ingredients market is dominating by the salt replacers and salt reducers segment. This segment has witnessed significant growth and accounts for over 35% of the market share as a large number of consumers are looking for low sodium food options. The demand for salt replacers and salt reducers is driven by rising health concerns regarding high sodium intake.
PEST Analysis
Political: The government in various countries are supporting sodium reduction programs and campaigns to promote low sodium food products. Some countries have imposed regulations to limit sodium content in processed food items.
Economic: The growing health conscious population coupled with rising income levels in developing nations is driving additional spending on premium and healthy food products. This is positively impacting the demand for mineral salt ingredients.
Social: Increased awareness about health risks associated with excessive sodium intake such as high blood pressure is influencing food consumption patterns. Consumers are increasingly preferring food items with low or reduced salt content.
Technological: Companies are investing in research & development to develop innovative salt replacer ingredients derived from plant and mineral sources. New product formulations are helping manufacturers to reduce salt content without compromising on taste.
Key Takeaways
The global Mineral Salt Ingredients Market Size was valued at US$ 10.56 Bn in 2023 and is expected to reach over US$ 17 Bn by 2030, expanding at a CAGR of 5.2% during the forecast period. The market is driven by rising health consciousness among consumers and increasing demand for clean label and naturally sourced food ingredients.
Regional analysis: North America dominated the global market in 2023 and is expected to maintain its lead through 2030. This can be attributed to growing health and wellness trend coupled with stringent regulations on sodium standards in processed food in the region. Asia Pacific is projected to witness the fastest growth during the forecast period, led by booming food processing industry and expanding consumer base in countries like India and China.
Key players operating in the mineral salt ingredients market are Corbion, Minerals Technologies Inc., Compass Minerals International Inc., Albion Laboratories, Inc., Paul Lohmann GmbH KG, K+S Aktiengesellschaft, Gadot Biochemical Industries Ltd., Arla Foods amba, DuPont, Jungbunzlauer Suisse AG, SEPPIC, and Koninklijke DSM N.V. Entry of new players especially in Asia Pacific and product launches catering to local taste preferences will further intensify competition in the market over the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
