Press release
Fortified Salts Market to exceed $7 billion by 2024: Global Market Insights Inc.
Fortified Salts Market
Shifting consumer preference for nutritional diet coupled with increasing malnutrition concerns among children and adults will propel product demand. Rising prevalence of anemia due to iron deficiency will drive fortified salts market growth.
Growing demand for food preservation due to increasing preference for processed & packaged food will propel the fortified salts market. Growing hospitality & services industry along with increasing multi-cuisine restaurants are the key factors supporting the industry growth.
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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.
High profit margins will enhance vendors and manufacturers to boost production capacity and improve supply chain network for revenue growth.
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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Fortified salts market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons and revenue in USD Million from 2013 to 2024, for the following segments:
Fortified Salts Market, By Product
• Iodine
• Iron
• Double fortified
Fortified Salts Market, By Application
• Hospitality & service industry
• Hotels
• Restaurants
• Food processing industry
• Household
• Animal feed
Fortified Salts Market, By Distribution Channel
• Hypermarkets & supermarkets
• Grocery stores
• Online stores
The above information has been provided on a regional and country basis for the following:
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Russia
• Asia Pacific
• China
• India
• Japan
• Australia
• Thailand
• Indonesia
• Vietnam
• South Korea
• Latin America (LATAM)
• Brazil
• Mexico
• MEA
• Saudi Arabia
• UAE
• South Africa
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.
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
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