Market Research Report
Gourmet Salt Global Market Report 2022
|Gourmet Salt Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
“Gourmet Salt Global Market Report 2022” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global gourmet salt market.
This report focuses on gourmet salt market which is experiencing strong growth. The report gives a guide to the gourmet salt market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the gourmet salt? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Gourmet Salt market global report” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider gourmet salt market, and compares it with other markets.
Major players in the gourmet salt market are: Murray River Salt, Infosa, Cargill Inc, Alaska Pure Sea Salt, Pyramid Salt Pty Ltd, Maldon Crystal Salt Co, Amagansett Sea Salt Co, The Sea Salt Co, Morton Salt Inc, Saltworks Inc, Kalahari Pristine Salt Worx, San Francisco Salt Company, Salty Wahine Gourmet Hawaiian Sea Salts, Sea Salt Superstore, and HEPP'S Salt.
The global gourmet salts market is expected to grow from $3.94 billion in 2021 to $4.18 billion in 2022 at a compound annual growth rate (CAGR) of 6.13%. The gourmet salts market is expected to reach $5.32 billion in 2026 at a CAGR of 6.18%.
The gourmet salt market consists of sales of gourmet salt by entities (organizations, sole traders, and partnerships) that refer to a salt derived from evaporated seawater or mountains with low sodium content and high mineral presence. It is an unrefined high-quality salt differing in flake size, texture, and color. Gourmet salt is used as a seasoning for pretzels, bread, fish, roasted veggies, tomatoes, and fruits. It comes in various forms including Fleur de sel, Sel gris, Himalayan salts, Indian pink salt, Italian salts, and smoked salts.
The main types of gourmet salts include fleur de sel, sel gris, himalayan black salt, flake salt, specialty salt, and other types. The fleur de sel salt refers to sea salt harvested from evaporated seawater. It has a higher moisture content (10%) than ordinary salt allowing salt crystals to stay together. It is best used as a finishing salt. They are used in preparations of bakery and confectionery, meat & poultry products, seafood products, sauces and savoury, and other applications, and they are sold through supermarkets/hypermarkets, convenience stores, online retailing, speciality stores, and others.
Western Europe was the largest region in the gourmet salts market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the gourmet salts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing demand for processed food products is driving the growth of the gourmet salt market. A processed food product is a food product that has been altered in some way during preparation and it can be freezing, canning or baking. The canned, frozen, or half-cooked food products need more shelf life, and gourmet salt is beneficial in preserving the food & extending the shelf life of processed food products. The demand for gourmet salt increases as the need increases for processed food products. For instance, in April 2022, the Ministry of Food Processing Industries of India, under the Production Linked Incentive Scheme For Food Processing Industry (PLISFPI), approved investment proposals of 119 processed foods companies to accelerate the domestic growth of processed food items. Therefore, the increasing demand for processed food products is driving the growth of the gourmet salt market.
Technological advancement is a key trend gaining popularity in the gourmet salt market. Technological advancements in gourmet salt include innovating and implementing new production techniques for the generation of gourmet salt with new content making the product, which is rich in quality without harming the environment. Major companies operating in the gourmet salt market are focusing on implementing sophisticated technologies for salt manufacturing to meet the demand for high-quality food-grade salts and gourmet salt. For instance, In November 2019, the European Project MedArtSal, which is focused on developing an innovative solution and providing sustainable actions for Artisanal Salinas was initiated by European Union with a total budget of EUR 3.2 billion ($3.77 billion), with EU contribution of EUR 2.9 billion ($3.42 billion).
In December 2020, Norwest Equity Partners (NEP), a US-based leading venture and growth equity firm focusing on consumer, enterprise, and healthcare sectors, acquired Red Monkey Foods for an undisclosed amount. This acquisition will help to capitalize on the compelling trends with the new partner's resources and further build the business into an even stronger and diversified, industry-leading company. Red Monkey Foods is a US-based company that provides private-label organic spices, seasonings, and gourmet salt.
The countries covered in the gourmet salt market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.