NEW YORK, March 15, 2022 (GLOBE NEWSWIRE) -- Attributed to all these factors, the global mineral salt ingredients market is predicted to expand at 5.4% CAGR over the next ten years (2022-2032).
Nutritional deficiency occurs in both, humans and animals, when the body does not get enough vitamins and minerals. Macro-minerals include calcium, phosphorus, chloride, sodium, and others. These macro-minerals are required at higher levels by the body, also called trace minerals. These vitamins and minerals are found in numerous food products, but sometimes that is not enough for the body. Nowadays, hectic lifestyle has changed the eating habits of millennials, due to which, inadequate intake of nutrients is seen since.
These nutritional deficiencies cause many health problems such as improper functioning of thyroid, unstable production of hormones, irregular functioning of the nerves, difficulties in blood formulation, and others.
Multinational companies have taken up initiatives to tackle nutritional deficiency across the globe. Companies such as Unilever and Nestlé have started food fortification to add both, macro and micronutrients in their food products.
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Lack of trace minerals as well as macro-minerals in cattle feed has raised concerns for livestock farmers. Among all, grass tetany or hypomagnesemia (cattle with magnesium deficiency) is the most common deficiency observed in North America, and cattle (especially mature cows) become weak and staggered, and this is a fatal condition in beef cattle in the region. As a preventive measure, cattle farmers have started adding magnesium and other trace minerals to prevent animals from catching diseases.
Key Takeaways from Market Study
- The market for mineral salt ingredients is expected to expand at CAGRs of 4.5% and 3.9% in Latin America and the Middle East & Africa, respectively.
- Market shares of North America and South Asia & Pacific are 21.4% and 16%, respectively, in 2022.
- Based on type, demand for micro-minerals is anticipated to increase at 6.1% CAGR through 2032.
- There were disruptions in the supply chain of mineral salt ingredients because of COVID-19. However, the market is anticipated to see significant growth over the coming years with increasing consumer demand for healthy and nutritious food products.
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“Consumers tend to consume mineral salt ingredients through food and beverages in the form of functional foods and sports food, which has resulted in a surge in the demand for mineral salt ingredients across numerous end-use industries. As a result, targeting and offering functional foods to health-conscious consumers could enhance profitability for producers,” says a Persistence Market Research analyst.
Competitive Landscape
Manufacturers are focusing on expanding the application of mineral salt ingredients by investing in research & development in order to create innovative products. In order to expand their product diversity, manufacturers of mineral salt ingredients are likely to continue innovating. Key companies are also targeting different end-use industries to increase their customer base.
- Corbion N.V. strategizes on new product launches to cater to changing consumer tastes and serve diverse markets more efficiently. This strategy helps the company increase its consumer base.
- Isaltis specializes in the development and manufacture of organic mineral salts, focuses on diversifying its product portfolio, and increasing its capacity to produce high-purity mineral salts.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global mineral salt ingredients market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on type (micro minerals, macro minerals) and application (dairy products, infant formula, functional food, cosmetics and personal care, pharmaceuticals, agriculture, others), across six major regions of the world.
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