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Ultimate Analysis on Fortified Salts Market Trends 2018-2024 | AkzoNobel, Tata Chemicals, Cargill Salt, Compass Minerals, China National Salt Industry, Ankur Salt, Sambhar Salts Ltd., United Salt Corporation, Kutch Brine Chem Industries, Schweizer Salinen

Fortified salts market

Fortified salts market

Fortified salts market is slated to witness a lucrative growth over the coming years, subject to the product’s ability to curb the deficiency of micronutrients such as iron and iodine in diet that may give rise to ailments such as anemia and goiter. As per NCBI reports, a diet deficient in iron and iodine was the main cause of health-related ailments among more than 33% of the global population in 2002. Moreover, WHO has clearly recommended that a proper diet be fortified with iodine for women and children to reduce the occurrence of nutrition-related disorders such as goiter and thyroid, which may, in all likelihood, propel fortified salts market share. Global Market Insights, Inc., states that fortified salts industry, which produced a revenue of more than USD 3.5 billion in 2016, is set to hit USD 7 billion by 2024.
According to WHO, deficiency of iodine not only arrests the intellectual growth of the fetus, but also affects overall female health, leading to diminished life quality for women. Pertaining to the aforementioned factor, it has become essential to fortify regular salt with iodine, to increase the percentage of iodine consumption globally, which will most certainly leverage the expansion of fortified salts industry.
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Company Profiles
1. AkzoNobel
2. Tata Chemicals
3. Cargill Salt
4. Compass Minerals
5. K+S Windsor Salt Ltd. / K+S Sel Windsor Ltée
6. China National Salt Industry
7. Ankur Salt
8. Sambhar Salts Ltd.
9. United Salt Corporation
10. Kutch Brine Chem Industries
11. Ahir Salt Industries – India
12. Schweizer Salinen
13. Hindustan Salts Ltd
14. Tamil Nadu Salt Corporation Ltd.
15. Annapurna Salts
16. Saboo Sodium Chloro Ltd.
17. Nirma Shudh
18. Bajaj Salt
19. Super Salts
20. Shreeram Chemfood

International Organizations such as UNICEF, World Bank, and the International Council for the control of iodine deficiency disorders have promoted fortification of salt with iodine in regions prevalent with goiter, which may gradually propel fortified salts market revenue. As per reliable reports, iodization of salt is cost-effective and feasible. Besides, it has been proved to be highly effective in curbing endemic goiter as well as other ailments caused as a result of iodine deficiency. Subject to these benefits, fortified salts market may observe an appreciable expansion in the years ahead. Another contributing factor toward the industry growth is WHO’s statement that diseases caused due to iodine deficiency had been greatly reduced through salt fortification - a major achievement in the public health nutrition sector since past 30 years.

Assorted studies have revealed the coexistence of iron as well as iodine deficiencies in countries such as India, which has led to a rise in ailments such as goiter and anemia. A recent news that made it to the headlines reveals that the Government of India has asked the state governments to mandate the usage of double fortified salt with iron and iodine, fortified wheat, and edible oil in the mid-day meal of school children, a step which may generate bright growth prospects for fortified salts industry across the country.

Online stores are the fastest growing distribution channel with gains over 7% up to 2024. Increasing preference for online shopping owing to hectic & busy lifestyles will drive the industry growth in this segment. Expansion in the e-commerce industry along with provision of discounts & offers has provided positive outlook for fortified salts demand. Global online retail sales are growing and is estimated to surpass 8.5% of total retail spending in 2018 as compared to 7.4% in 2016.

Grocery stores were valued over USD 1.5 billion in 2016. Increasing product consumption in household along with buying convenience of the grocery stores will support the product demand. Health threats including kidney ailments and tuberculosis due to overconsumption of product may hamper the product demand.

Browse key industry insights spread across 300 pages with 562 market data tables & 11 figures & charts from the report, “Fortified Salts Market Size By Product (Iodine [By Application {Hospitality & Service, Food Processing, Household & Animal Feed}, By Distribution Channel {Hypermarket & Supermarket, Grocery Stores, Online Stores}], Iron[By Application {Hospitality & Service, Food Processing, Household & Animal Feed}, By Distribution Channel {Hypermarket & Supermarket, Grocery Stores, Online Stores}], Double Fortified Salts[By Application {Hospitality & Service, Food Processing, Household & Animal Feed}, By Distribution Channel {Hypermarket & Supermarket, Grocery Stores, Online Stores}]), Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Australia, Indonesia, Thailand, South Korea, Vietnam, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/fortified-salts-market

Hospitality & service industry was valued over USD 900 million in 2016. Rising demand for processed meat including preservation of for canned hams, hams, roasts, fish and meatballs will drive the demand. By 2025, the consumption of meat is predicted to increase by as much as another 100%.
Household industry is estimated to generate over 5,800 kilotons in volume by 2024. High application scope as cooking salt owing to its health benefits has enhanced the product scope. Changing lifestyle along with increasing disposable income will support the fortified salts market.

Iodine will witness gains at 7.1% up to 2024. Iodine deficiency causing fatigue, constipation, chances of stillbirth in pregnant women, depression, abnormal weight gain and goiter will propel the product penetration.
Double fortified salts were valued around USD 845 million in 2016. Growing anemia concerns among children and women globally will surge the product demand.

North America fortified salts market was worth over USD 1.5 billion in 2016. Increase in occurrence of obese population, gestational hypertension, miscarriages, and neurological disorders including cretinism among newborns will drive industry growth.

Asia Pacific market is anticipated to worth over USD 2.4 billion by 2024. Increasing consumer awareness pertaining to health & diet along with improving standard of living will propel the industry growth.
Vietnam is the fastest growing country in APAC with CAGR over 7.5% up to 2024. Presence of numerous finest salt producing companies along with increasing exports are the major factors fueling the fortified salts market size.

Global fortified salts industry is fragmented in nature due to large presence of regional manufacturers. Cargill, AkzoNobel, Tata Chemicals, Compass Minerals, Ankur Salt, Sambhar Salt, China National Salt Industry Windsor Salt, United Salt Corporation, Kutch Brine Chem Industries, Ahir Salt Industry and Schweizer Salinen are the major industry players.

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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
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