Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Gourmet Salts Market 2017–2027
Gourmet salt is untreated salt that is harvested naturally and has extra taste and flavor as compared to other salts. It is high-quality salt commonly used to cook food as it enhances the taste and texture of food. Gourmet salt has a high level of mineral content and improved solubility property. This salt is also used to preserve canned food items in order to enhance the shelf-life of the product. Moreover, gourmet salt is also used to prepared pickle as it helps to hold back moisture content of the food product and also used in the preparation of dressings and seasoning as they have exotic flavor.
The global gourmet salts market is projected to surpass US$ 3.2 billion by the end of 2027, in terms of revenue, growing at CAGR of 10.6% during the forecast period (2019 to 2027).
Increasing focus of gourmet salts manufacturers to introduce clean-label specialty ingredients for various food application is expected to foster the market growth of Gourmet salts over the forecast period. For instance, in February 2015, Salt of the Earth Ltd. launched Umami Essence Sea Salt ingredient for sauces, pizza toppings, salad dressings, Bolognese-style meat sauces, lasagna and other products. This would help food scientists to develop reduced-sodium recipes containing only natural ingredients and enables clean labeling without added MSG.
Increasing global disposable income of people is encouraging to spend on exotic food products such as gourmet cuisines is expected to foster market growth over the forecast period. Moreover, the advent of the internet coupled with the rising popularity of cooking shows is further propelling the market demand for gourmet salt. Aforementioned factors are anticipated to propel the market growth of gourmet salt over the forecast timeframe.
Regionally, Europe dominated the global gourmet salts market in 2018, reporting 36% market share in terms of revenue, followed by North America and Asia-pacific, respectively.
Figure 1. Global Gourmet Salts Market, Revenue Share (%), By Region, 2018
Lower shelf-life of the gourmet salts as they are infused, smoked and natural &fresh product, compared to other sea salts is anticipated to restrict the market growth of gourmet salts over the forecast period. These salts have a delicate flavor and hence, flavor retention for long durations is expected to restrain the market growth of gourmet salts.
The high cost of the machinery and labor cost is also projected to hamper the market growth of gourmet salts. Moreover, the lack of awareness regarding the health benefits of gourmet salts among the developing region is further anticipated to hinder the market growth over the forecast period. Furthermore, due to its expensiveness manufacturers are opting for conventional salts which are expected to affect the demand for gourmet salts, in turn hindering the market growth of gourmet salts.
Rising focus of manufacturers to introduce attractive packaging for gourmet salts is expected to foster the market growth over the forecast period. For instance, in January 2017, SaltWorks introduced three new retail-ready packaging styles for its reimagined gourmet and specialty sea salt brand, Artisan Salt Company. The company showcased the new packaging at the Winter Fancy Food Show, which takes place in San Francisco, CA from January 22 to January 24.
Growing demand for smoked sea salts which are produced by the natural smoking method that uses real wood fires to infuse the salt crystals with natural smoke. For instance, in March 2015, Hollywood Farmer’s Market added Spice Alley–a new extension of the market devoted to spices and gourmet sea salts. Vendors such as Hepps Salt Co would offer exotic selections of gourmet salts that include Smoked Salts, Natural Blends, Cooking Salts and Finishing Salts.
Figure 2. Global Gourmet Salts Market – Opportunity Analysis
Growing usage of Indian black salt, which is also known as Kala Namak, is an untreated mineral salt with strong sulfuric flavor and aroma is also expected to propel the market growth of gourmet salts. Indian black salt is mainly used in dressing for Indian savory dishes and is also used to prepare salads. In March 2015, StyleCraze published an article about various health benefits of using Indian black salt in food. The salt offers a cure for high blood pressure, treatment of arthritis and also offers other hair and skin benefits.
Growing demand for coarse salt as it has large grains, low moisture sensitivity, and is ideal for grinders. This factor is anticipated to propel the market growth of gourmet salts over the forecast period. In order to meet the rising demand for Coarse Salt, the various manufacturer are launching innovation in the salt. For instance, in March 2015, Burbank, CA launched a new product called the dual salt grinder and pepper mill for coarse salt grinding to get the desired size grain size.
Figure 3. Global Gourmet Salts Market, Revenue Share (%), By Application, in 2018
On the basis of application, in 2018, meat & poultry segment accounted the largest market share of 31% in terms of revenue, followed by bakery & confectionary and desserts & frozen food, respectively.
Key players active in the global gourmet salts are J.C.Peacock, The Meadow, SeaSalt Superstore LLC, The Savory Pantry, Evolution Salt Co., and HEPP'S Salt C.