Gourmet Salts Market Size will Observe Lucrative Surge by the End 2025
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Gourmet Salts Market: Segmentation
Global Gourmet salts market is segmented on the basis of product type, application and region. Based on the product type segmentation includes fleur de sel, Himalayan salts, sel gris, and flake salts. Of which, fleur de sel is used widely in various food applications such as meat and salads. Fleur de sel is anticipated to be the dominating segment during the forecasted period, followed by other gourmet salts. On the basis of application, gourmet salts is segmented into savoury, bakery and confectionary, poultry and seafood products and others. However, among all the segments, bakery and confectionary segment is expected to contribute maximum revenue to the overall gourmet salts market. Global gourmet salts market is segmented on the basis of regions into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Middle East and Africa and Japan. Gourmet salts market is dominated by European region, followed by North America and Asia Pacific excluding Japan. In Europe, France and Spain are expected to contribute maximum revenue share to the overall gourmet salts market. However North America is projected to witness fastest growth in the next four to five years owing to the high disposable income of consumers in this region.
Gourmet Salts Market: Region-wise Outlook
The Global gourmet salts market is expected to witness vigorous growth during the forecasted period due to the rising awareness among consumers related to changing food or cuisine preferences among consumers .Globally, among all regions, Europe is expected to witness significant growth in the gourmet salts market and contribute maximum market share, followed by North America and Asia Pacific over the forecasted period. However, North America is expected to experience fast growth due the high disposable income of the consumers, which results in buying patterns for products rich in gourmet salt. Since, these products are expensive in nature.
Gourmet Salts Market: Drivers
Various factors that fuel the growth of gourmet salts market includes rising living standard of consumers, increasing commercialisation of food industry by various media shows and also awareness regarding benefits of gourmet salts in the traditional food. However, factors that hampers the growth of gourmet salts market are high price associated with gourmet salts in comparison to conventional salts. Other major factor that restraints the growth of gourmet salts market that hinder the growth of gourmet salts market is lack of awareness among consumers in developing countries. Companies operating in gourmet salts market are mainly adopting new product development strategy in order to enhance their product portfolio and also to expand into new markets.
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Gourmet salts Market: Key Players
Major companies that operate in gourmet salts market includes Cargill Inc., Morton Salt Inc., Murray River Salt, Alaska Pure Sea Salts Co., Infosa, Amagansett Sea Salt Co., Maldon Crystal Salt Co., Pyramid Salt Pty. Ltd.
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The gourmet salts market is estimated to be valued at US$ 1,121.5 Mn by the end of 2015 and is anticipated to expand at a CAGR of 6.9% from 2015 to 2025, to account for US$ 2,194.8 Mn by 2025. Gourmet salts are untreated, naturally harvested salts (generally sea salts) with low sodium content and no additives. These salts are used to add profligacy, flavor and dressing to the