Gourmet Salts Market to Surpass US$ 3.2 billion by 2027 - Coherent Market Insights

Gourmet salt is crystallized seawater salt which is harvested by 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. Basically they are used to enhance the texture appeal, and taste of simple food. Moreover, gourmet salt have better solubility, moisture retention, higher mineral content, and exotic flavor. Moreover, they are also used as a preservative such as canned food in order to enhance the shelf-life of the food product and it can also be added to other spices and herbs to enhance the flavor of the spice.

The global gourmet salts market was estimated to be valued more than US$ 1.3 billion in terms of revenue in 2018 and is predicted to grow at a CAGR of 10.6% during the forecast period (2019 to 2027)

Drivers

Ongoing urbanization and westernization is a prime driving factor fueling the demand for convenience food. Also, rising awareness regarding the health is influencing consumers 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. This factor is expected to propel the market growth of gourmet salts. For instance, in February 2015, General Mills Convenience launched a new series of products at the AWMA Marketplace & Solutions Expo targeted at convenience stores. These products include hazelnut & almonds bars with Madagascar vanilla dipped in dark chocolate with a sprinkle of sea salt.

Market Opportunities

Growing adoption of promotional activities by the manufacturer in order to raise the awareness is augmenting the market growth. Growing popularity due to 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 tie 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 of 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.

Key Takeaways

On the basis of product type, fleur de sel dominated the global gourmet salts market in 2018 with around 20% of market share in terms of revenue, followed by coarse salt and flake salt, respectively.

Market Trends

Growing demand for gourmet salts from bakery and confectionery industry as manufacturers are focusing on introducing novel and innovative products using ingredients such as gourmet salts in order to enhance the consumer taste and preferences is expected to propel the market growth. For instance, in July 2015, General Mills introduced Nature Valley’s Simple Nut Bar, which is made of whole nuts, seeds, honey, tapioca syrup, and sea salt. These gluten-free bars are available in two flavors, namely, almond, cashew and sea salt, and roasted peanut and honey.

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. For instance, in September 2015, Food and Beverage magazine covered articles about the launch of soy-ginger by Snikiddy exclusively at Kroger. The snack options offered are sea salt, Italian her and olive oil, and sea salt and lime.

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.

Market Taxonomy

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 flavored salt)

By Application

• Bakery & Confectionery
• Meat & Poultry
• Seafood
• Sauces & Savoury
• Desserts & Frozen Food

By Regions

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa