Minerals salt ingredients usually occur in the mineral form and are widely used in the daily diet. Some of the major sources of minerals salts are seawater, mines, and brines. However, they can be also extracted from dairy products, meat, plants, fruits, flowers, and grains. Agriculture, food & beverages, and pharmaceutical industries are some of the major industries of minerals salts ingredients.
The global mineral salt ingredients market is estimated to be valued at US$ 10,108.0 million in 2021 and is expected to exhibit a CAGR of 5.0% % over the forecast period (2021-2028).
Figure 1. Global Mineral Salt Ingredients Market Value (US$ 9,611.2Mn), by Region, 2020
Rapidly growing food industry coupled with the rising awareness regarding the health benefits of minerals salt is expected to propel the market growth of the mineral salt. Rising cases of minerals salt deficiency such as insomnia, fatigue, weakness, osteoporosis, anemia, depression, and goiter are also contributing to market growth of the mineral salt ingredients. A growing number of health-conscious consumers around the globe due to rising health wellness awareness is further expected to accelerate the market growth of the mineral salt ingredients.
Growing demand for dietary supplements especially among the geriatric population is anticipated to accelerate the demand for the mineral salt ingredient. Rapid urbanization and changing lifestyle of the consumer leading to various chronic diseases such as cardiovascular diseases, hypertension and stroke, and cancer is also projected to accelerate the market growth of the mineral salt ingredients over the forecast period.
|Base Year:||2020||Market Size in 2021:||US$ 10,108.0 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||5.0%||2028 Value Projection:||US$ 13,545.69 Mn|
Corbion, Minerals Technologies Inc., Compass Minerals International Inc., Albion Laboratories, Inc., Dr. Paul Lohmann GmbH KG, K+S AKTIENGESELLSCHAFT, Gadot Biochemical Industries Ltd., Arla Foods amba, DuPont, Jungbunzlauer Suisse AG, SEPPIC, and Koninklijke DSM N.V.
|Restraints & Challenges:||
The growing geriatric population around the globe is expected to fuel the demand for a dietary supplement that incorporates minerals salts ingredients. This is expected to create potential growth opportunities in the market over the forecast period. According to the World Health Organization, during 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. In 2050, 80% of older people will be living in low- and middle-income countries. Thus, a growing aged population will favor market growth.
Rising demand for cosmeceuticals that combine cosmetic and pharmaceutical with active ingredients is expected to augment the market growth of minerals salt ingredients. Cosmeceuticals are produced with various nutritional ingredients such as amino acids and fibers, vitamins, and minerals salt ingredients. Therefore, the growing consumption of cosmeceuticals among health conscious people is expected to augment the market growth over the forecast period.
Growing pharmaceutical and cosmetic applications of minerals salt ingredients are expected to be a major trend in the market. This trend is expected to fuel the market growth. Increasing consumption of food supplements coupled with growth in the food industry and growing demand for healthy food among consumers is projected to foster the market growth of the mineral salt ingredients over the forecast timeframe
Various manufacturers are focusing on offering products with better solubility, reactivity, flavors, and colors in salts. This is expected to accelerate market growth. Most minerals salts are tasteless or bitter in nature. Thus, increasing adoption of such initiatives for the manufacturer is expected to augment the market growth over the forecast period.
Figure 2. Global Mineral Salt Ingredients Market Share, By Type 2020
Key Takeaways of the Graph:
False claims and misleading information on the product by certain manufacturers and suppliers are creating a negative image and leading to mistrust. This factor is expected to restrict the market growth of minerals salt ingredients.
Extraction of minerals salt ingredients from organic sources such as vegetables, dairy, fruits, and meat & seafood is a little complex and time-consuming process. This factor is expected to hinder the market growth over the forecast period.
Minerals are important natural elements that play important roles in all biochemical processes and regulation of all cell and chemical functions in the human body. The need for minerals is expected to increase at a fast rate in upcoming years because of the increase in vegetarianism and lifestyle. The intake of vitamins and minerals is necessary to avoid various health problems like cancer, cardiovascular diseases, and other such illnesses. So, people are now more aware of their diets can be made nutritionally balanced. Nowadays, it is also important to include minerals in our food as they have numerous benefits and they are very important for providing the nutritional needs of the human body.
Growing awareness regarding the health benefits of mineral salt and rapid growth in food industry is propelling growth of the mineral salt ingredients market. Government across developed and developing countries are encouraging food manufacturers to introduce mineral salt during the processing of food. For instance, in late 2020, the U.S. Food and Drug Administration issued final guidance, Use of an Alternate Name for Potassium Chloride in Food Labelingexternal icon, to allow food manufacturers to use the name “potassium salt” on food labels instead of “potassium chloride” to help people better understand that it is a salt substitute.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.