Global Mineral Salt Ingredient Market was valued at US$ 10.56 Billion in 2022, exhibiting a CAGR of 5.2% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 16.64 Billion by 2030.
Global Mineral Salt Ingredient Market, By Type (Micro Minerals and Macro Minerals), By Applications (Dairy Products, Infant Formula, Functional Food, Cosmetics and Personal Care, Pharmaceuticals, Agriculture, and Others), By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) as published by Coherent Market Insights.
Global Mineral Salt Ingredient Market- Driver
Increasing demand for vitamin and mineral rich food ingredients
Growing demand for vitamin and mineral-rich food ingredients from health-conscious consumers coupled with growing awareness regarding weight management is expected to drive the market growth. Rising awareness regarding the health benefits of minerals salts such as anti-oxidants and anti-aging properties is also expected to drive the market growth. Increasing initiatives by the government such as campaigns and other education programs to encourage people to increase the intake of minerals salts is expected to drive the market growth.
Global Mineral Salt Ingredient Market- Opportunities
Increasing Demand for Organic Minerals
Increasing demand for organic minerals over inorganic minerals due to growing awareness regarding the health benefits of organic products is expected to offer major growth opportunities over the forecast period. Organic minerals are extracted from natural sources such as fruit, milk, and vegetable, and these minerals breakdown very slowly in the body, and offer various nutritional benefits.
Global Mineral Salt Ingredient Market- Restraints
Industrial Minerals Salt in Diets Causes Side Effects
The consumption of dietary foods that contain mineral salts derived from industrial chemicals can lead to certain adverse reactions, which are likely to impede the development of the market. Furthermore, the chemical mineral salts ingredients lack the same antioxidant properties as natural ones, which is likely to limit the growth of the market. Consumption of dietary foods containing industrial chemical mineral salts can result in an increase in sodium intake, the accumulation of toxins, digestive disorders, nutritional imbalances and allergic reactions. To avoid these potential adverse effects, it is recommended to opt for natural and balanced mineral sources..
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Key Takeaways:
On the basis of region, Asia Pacific is expected to grow at the fastest rate during the forecast period. Market growth in Asia Pacific is driven by the massive consumption of agricultural products like plain salt blocks, stock salt, feed mix salt, and others.
On the basis of type, in 2022, the macro minerals segment accounted for the largest market share of 87% in terms of value, followed by the micro minerals.
Global Mineral Salt Ingredient Market- Trends
Rising Consumption of Traditional Medicine
Rising trend of traditional medicine due to growing awareness regarding the side-effects associated consumption of modern chemical medicine is expected to drive the market growth. Moreover, growing awareness regarding the nutritional benefits of traditional medicine among consumers is another major that is expected to drive the market growth of the mineral salt ingredient over the forecast period.
Increasing production capacity of mineral salt ingredients by the manufacturer in order to meet the rising need for salt is also expected to drive the market growth.
Global Mineral Salt Ingredient Market- Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 outbreak had an adverse impact on various industries around the globe. Due to the strict rules and regulations by government to curb the spread of the infection, companies functioned remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Various companies had shutdowns their manufacturing units that had an adverse impact on mineral salt ingredients market. In addition, the absence of workers has caused the cessation of mining and extraction operations.
Global Mineral Salt Ingredient Market-Competitive Section
- Corbion
- Minerals Technologies Inc.
- Compass Minerals International Inc.
- Albion Laboratories, Inc.
- Paul Lohmann GmbH KG
- K+S Aktiengesellschaft
- Gadot Biochemical Industries Ltd.
- Arla Foods amba
- DuPont
- Jungbunzlauer Suisse AG
- SEPPIC
- Koninklijke DSM N.V.
