Gourmet Salts Market To Surpass US$ 3.8 Bn By 2030
Global Gourmet Salt Market was valued at US$ 1.8 Bn in 2022 and is estimated to reach US$ 3.8 Bn by 2030, exhibiting a CAGR of 9.79% during the forecast period (2023-2030). According to Global Gourmet Salt Market Report, By Product Type (Sel Gris, Smoked Sea Salt, Indian Black Salt, Flake Salt, Fleur de Sel, Italian Sea Salt, Coarse salt, Others (Himalayan Pink salt and Specialty flavoured salt)),By Application (Bakery & Confectionery, Meat & Poultry, Seafood, Sauces & Savoury, Desserts & Frozen Food), and By Region (North America, Europe, Latin America, Asia Pacific, Middle East & Africa) as highlighted in a new report published by Coherent Market Insights.
Gourmet salt is crystallized seawater salt that is harvested by a quick vacuum evaporation process or open-air solar evaporation. Gourmet salts are widely used in cuisines as it has extravagance and appeal which makes them ideal for seasoning and dressing. They are used to enhance the texture appeal, and taste of simple food. Moreover, gourmet salt has better solubility, moisture retention, higher mineral content, and exotic flavor. Moreover, they are also used as a preservative such as in canned food in order to enhance the shelf-life of the food product and they can also be added to other spices and herbs to enhance the flavor of the spice.
Drivers
Ongoing urbanization and westernization are prime driving factors fueling the demand for convenience food. Also, rising awareness regarding health is influencing consumer's preference towards high-quality healthy processed food, and manufacturers of processed food preferred to use low-sodium salts such as gourmet salts in their products. These factors are expected to propel the market growth of gourmet salts. For instance, in April 2021, JK Masale introduced a new gourmet range for its Indian customers. With this latest offering, the company enters the seasoning market. This product line was created for foodies who want to eat delicious and healthy meals. JK Spices or better known as JK Masale is one of the premium and authentic Indian Spices Brand based out of India
Market Opportunities
Growing adoption of promotional activities by the manufacturers to raise awareness about health and hygienic food is augmenting the market growth. Growing popularity due to the rising viewership of cookery shows and competitions for exotic cooking styles that use specialty ingredients such as gourmet salts are expected to offer potential growth opportunities to the market growth of gourmet salts. Moreover, many gourmet salts manufacturers have tied up with popular cooking channels and show to promote their brand awareness which is further anticipated to foster the market growth of gourmet salts.
Market Restraints
The high cost of processing gourmet salt as it involves high capital investment for processing, labeling, marketing, and packaging, which increases the cost of the final product. This factor is expected to foster the market growth of gourmet salt. Moreover, these salts can only be extracted during a specific season and require a long time for evaporation of moisture which is also expected to hinder the market growth. For instance, truffles are only harvested in Australia during winter and need a few weeks for the infusion.
Market Trends
Growing demand for gourmet salts from the bakery and confectionery industry as manufacturers are focusing on introducing novel and innovative products using ingredients such as gourmet salts to enhance the consumer taste and preferences is expected to propel the market growth.
Rising consumption of sauces and savory where manufacturers are using gourmet sea salts in order to add extra crunch, crisp, and citrus taste as crushed sea salt flakes are commonly used in salsas, soups sauces, and marinades are projected to propel the market growth.
Competitive Section
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 Co.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/gourmet-salts-market-3509
Key Takeaways
- On the basis of application, in 2022, meat & poultry segment accounted the largest market share of 31% in terms of revenue, followed by bakery & confectionary and desserts & frozen food, respectively.
- In October 2020, Morton Salt collaborated with Fun.com, the market leader in the costume sector, to create an official costume so that customers can dress as the well-known Morton Salt Girl regardless of how they choose to celebrate Halloween. This collaboration was organized by Beanstalk, a global brand extension licensing company for Morton Salt. Morton Salt is an American food company producing salt for food, water conditioning, industrial, agricultural, and road/highway use.
Global Gourmet Salts Market- Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has increased demand for healthy foods and food supplements that contain multiple nutrients and minerals. COVID-19 was found to have a significant impact on patients with hypertension and cardiovascular disease. As a result, demand for products with lower sodium levels, such as gourmet salts, has increased. Furthermore, as consumers make lifestyle changes such as shifting to organic and natural foods in their diets, the use of gourmet salts in various final food products has increased. According to Cornish Sea Salt Co., for example, the demand for sea salt has increased significantly in the United Kingdom due to the organic nature of the product, which provides 60% of sea minerals to the consumer. Cornish Sea Salt is completely pure and natural, hand-harvested from the clearest ocean waters in Cornwall.
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