Wilmington, Delaware, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Global Micronized Salt Market is valued at US$ 2.3 billion in 2022 and is expected to grow at a significant CAGR of over 3.6% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The need for micronized salt is rising across a range of industries, including food and beverage, pharmaceuticals, and industrial, which is fueling the market's expansion. Milk and dairy products, drinks, canned/preservative fruit and vegetables, prepared meals, meat, poultry, and seafood are just a few of the products that use micronized salt. Over the course of the projected period, the bakery and confectionery category is anticipated to grow significantly. It is frequently included in baking to boost flavor.
Due to its ability to prevent yeast growth and activity in the dough, salt is a crucial component in the baking of bread. By reducing the temperature at which cake batter caramelizes, salt also aids in the production of crust color.
- According to a deep-dive market assessment by RationalStat, the global micronized salt market has been analyzed on the basis of market segments, including on product type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global micronized salt market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units/Tons) by various products/services/ equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global micronized salt market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Micronized Salt Market: Segmental and Market Share Analysis
- On the basis of end user, with an anticipated worth of US$ 652.4 Mn through 2028, the bakery and confectionery segment is expected to hold the major share of the global micronized salt market due to the increasing demand for cakes, breads, and other baked goods.
- On the basis of region, due to the high consumption of processed foods in this region, North America continues to be the region that generates the most income for the worldwide micronized salt market.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2.3 billion |
| Market Size Forecast | US$ 3.1 billion |
| Growth Rate | 3.6% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global micronized salt market include,
- In February 2023, Cargill launched a new line of micronized salt products that are designed for use in food and beverage applications.
- In January 2023, K+S partnered with SaltWorks to distribute its micronized salt products in the U.S.
- In December 2022, Mitsubishi Chemical Corporation launched a new line of micronized salt products that are made from seawater.
Some of the prominent players and suppliers operating and contributing significantly to the global micronized salt market growth include TATA Chemicals Ltd., Cargill Inc., British Salt Limited, Akzo Nobel N.V., ICL Group, Marico Limited, Morton Salt, Inc., GHCL Inc., Wilson Salt, Kutch Brine Chem Industries, Ineos Inc., and CIECH Group among others.
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RationalStat has segmented the global micronized salt market based on product type, application and region
- Global Micronized Salt Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Product Type
- Purity 98% to 99.5%
- Purity Above 99.5%
- Global Micronized Salt Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Application
- Bakery & Confectionery Products
- Meat
- Poultry & Sea Foods
- Milk & Dairy Products
- Beverages
- Others
- Global Micronized Salt Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Region
- North America Micronized Salt Market
- US
- Canada
- Latin America Micronized Salt Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Micronized Salt Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Micronized Salt Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Micronized Salt Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Micronized Salt Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Micronized Salt Market
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Key Questions Answered in the Micronized Salt Report:
- What will be the market value of the global micronized salt market by 2030?
- What is the market size of the global micronized salt market?
- What are the market drivers of the global micronized salt market?
- What are the key trends in the global micronized salt market?
- Which is the leading region in the global micronized salt market?
- What are the major companies operating in the global micronized salt market?
- What are the market shares by key segments in the global micronized salt market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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