Press release
What are the factors contributing in Fortified Salts Market growth? Key Players Cargill, AkzoNobel, Tata Chemicals, Compass Minerals, Sambhar Salt, United Salt Corporation, Windsor Salt
Fortified Salts Market
Fortified salts find a wide range of applications across food processing, dental, hospital & service, and household & animal feed sectors. Burgeoning need for preserving processed & packaged food will boost the product demand across the food processing sector. Household & animal feed sector is forecast to record a CAGR of more than 7.5% over the coming seven years, subject to growing health consciousness among the consumers coupled with the rising healthy diet requirement for the livestock.
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Key profiles in this industry:
• 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
• Schweizer Salinen
Escalating concerns about the dental hygiene of the children aged between 2 to 11 years is expected to boost the product demand across the dental sector. Extensive product usage in healing gum ulcers and teeth whitening will accelerate fortified salts market growth in the dental sector.
Fortified salts market value in the hospitality & service sector, worth more than USD 900 million in 2016, is estimated to hit over USD 1.5 billion by 2024, owing to the growing popularity of healthy as well as flavored food among the consumers.
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Asia Pacific fortified salts market value is foreseen to reach USD 2.4 billion by 2024, driven by healthy dietary habits coupled with the rise in the rate of life expectancy. China, Vietnam, and India are the major regional revenue pockets. Vietnam fortified salts industry is anticipated to grow at a rate of more than 7.5% over 2017-2024. Large production of fine salt along with its mounting sales will push the growth.
North America fortified salts industry size, which was evaluated at more than USD 1.5 billion in 2016, is projected to witness a lucrative surge in the future. Rise in the obese population, pregnancy-induced hypertension, neurological diseases, and miscarriages are some of the key growth drivers.
Positive outlook in curing dental caries along with rising dental hygiene concerns are the key factors fueling the industry growth. Globally, 60- 90% of school going children and almost every adult has dental cavities.
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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.
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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