Global Gourmet Salt Market:
The global gourmet salt market is expected to be valued at US$ 1,240.9 million in market and growing at a CAGR of 5.9% over the forecast period by 2026. The key driver which help in boosting the market on the perspective of current scenario is wide globalization and media exposure, rising demand for traditional cuisines with enhanced unique flavors due to their distinctive combination of minerals and the variations of shapes and sizes of salt crystals has increased the demand for global gourmet salt market. There are certain restrains which hung the market are high cost involved during processing, packaging, labeling and marketing constituting restrain to the global gourmet salt market. Growing cookery and food shows are also expected to establish a numerous growth towards the global gourmet salt market.
Increase in Demand for Traditional Cuisine
It is noticed that the global gourmet salt market has a significant market growth rate on perspective of increase in demand for traditional cuisine. There has been a significant increase in the number of restaurants hence emerging gourmet salt have gain popularity among professional chief due to various factors like enhance appearance of food, impart rich texture, pleasant aroma and mouth feel. The gourmet salt is even used in canning and pickling of food items to retain moisture content and preserve them for later use. Rapid Urbanization had increase popularity of natural and organic food and shows related to them which act as the key drivers supporting the growth of global gourmet salt market.
Europe Dominates the Market Share in the Global Gourmet Salt Market
Europe contributed major revenue followed by North America and Asia Pacific. In 2019, Europe region accounted huge growth rate and is anticipated to grow with a forecast year. It has been estimated that more than 24% of the population aged over 60, which cause the rise in demand for nutritional food to increase the life expectancy. Rising awareness among people regarding food or cuisine boosted the global gourmet salt market. North America is expected to experience fast growth on perspective of restaurant industry generated over USD 3 trillion revenue in 2016 with the U.S. contributing over USD 750 billion in the same year. Asia pacific accounted for meat consumption, more than 65% of the global demand with high standard of living encourage significant growth of global gourmet salt market.
Key player’s profiles in the global Gourmet Salt Market include:
- Morton Salt, Inc. (U.S.)
- Saltworks, Inc. (U.S.)
- Cargill, Inc. (U.S.)
- Murray River Gourmet Salt (Australia)
- Alaska Pure Sea Salt Co. (U.S.)
- Maldon Crystal Salt Co. (U.K.)
- Infosa, (U.K.)
- Cheetham Salt Ltd (Australia)
- Pyramid Salt Pty. Ltd. (Australia)
- Amagansett Sea Salt Co. (U.S.)
- Market players have witnessed the strategic collaboration and acquisition to expand product portfolio and strengthen their position in the market to enhance the revenue of the company.
- In Oct 2017, Cricket Flours LLC, Oregon’s first edible insect company launched new Cricket Salt.
- In Jan 2018, Cargill started to produce a salt-alternative for food manufacturers to cut back the sodium levels in their soups, breads and other processed goods.
Global Gourmet Salt Market Report Description:
Global gourmet salt market report gives comprehensive outlook on Gourmet Salt Market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global gourmet salt market gives historical, current, and future market sizes on the basis of product type, application, and region. This report studies global gourmet salt market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global gourmet salt market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global gourmet salt market.
Key Findings of the Report:
- Global gourmet salt market expanding at significant CAGR over 2020 to 2026 owing due to increase in demand for traditional cuisine
- Based on region, Europe accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaborations strategies to retain market position in global market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Product Types
- Fleur De Sel
- Sel Gris or Grey Salts
- Himalayan Salts
- Flake Salts
- Specialty Salts (flavored salts and smoked salts, among others)
- Others (Italian sea salts and Hawaiian sea salts, among others)
- Bakery & Confectionery
- Meat & Poultry Products
- Seafood Products
- Sauces & Savory
- Others (Desserts and frozen products, among others)
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA