by Mineral salt ingredients are compounds containing various essential minerals required for balanced nutrition in a wide range of industries including food and beverage, pharmaceuticals, personal care products and others. These salts provide essential minerals to support fundamental bodily functions and maintain optimum health. They play a key role in enhancing the taste and flavor profile of numerous food items.
The global 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 key trends:
The growing demand in multiple applications has been propelling the mineral salt ingredients market in recent years. These ingredients find wide applications in diverse industries owing to their nutritional and functional properties. In the food industry, they are used as table salts, flavor enhancers and preservatives in various food products. Their utilization is also increasing in beverages, dairy, snacks and other convenience foods. In the pharmaceutical industry, various mineral salts aid metabolic processes and help maintain fluid and electrolyte balance in the body. The personal care sector also incorporates mineral ingredients in products for skin, hair and oral care. This widespread demand across sectors has been driving market growth significantly over the past few years.
SWOT Analysis
Strength: The mineral salt ingredients that provide essential minerals offer nutritional benefits. They enhance taste and act as preservatives.
Weakness: Fluctuations in the prices of raw materials can increase production costs. Strict guidelines and regulations regarding the usage levels can restrain market growth.
Opportunity: Rising health-conscious consumers seeking foods with clear labels and recognizable ingredients will drive demand. The growing food processing industry expanding into developing nations presents an opportunity.
Threats: Availability of cheaper substitutes from local manufacturers poses a threat. Natural calamities affecting agricultural production can disrupt supply.
Key Takeaways
The Global Mineral Salt Ingredients Market Size is expected to witness high growth. With increasing health awareness, consumers are demanding food products fortified with minerals. The market size for 2023 is projected to reach US$ 10.56 billion, growing at a CAGR of 5.2% during the forecast period.
Europe dominates the mineral salt ingredients market currently owing to stringent regulations regarding food fortification. However, Asia Pacific is expected to grow the fastest over the coming years led by population growth, urbanization, and rising incomes 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. These manufacturers focus on new product launches and capacity expansion to meet the growing demand.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
