Trusted Business Insights presents the Updated and Latest Study on Fortified Salts Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Fortified Salts Market
Industry / Sector Trends
Fortified Salts Market size was valued over USD 3.5 billion in 2016 and is set to exceed 19.4 kilo tons by 2024.
U.S. Fortified Salts Market Size, By Product, 2016 & 2024 (USD Million)
Growing malnutrition concerns among children and adults along with increasing demand for nutritious diet will drive fortified salts market growth. Rising health risks due to low consumption of iron, and iodine will fuel production penetration.
Increasing occurrence of miscarriages, gestational hypertension and neurological disorders including cretinism among newborns will drive industry growth. Appropriate growth and movement of unborn child is among the key factor fueling demand among women.
Globally, industry foresees high demand from iodine owing to its medicinal properties in treating various diseases. For instance, goiter has emerged as a major problem for the people living in APAC and MEA due to iodine deficiency in diet.
Dental hygiene has become a key concern, especially among children. According to a report from National Institute of Dental and Craniofacial Research, 42% of the children aged between 2 to 11 years suffers from dental caries in their primary teeth and 21% in their permanent teeth. Benefits including healing ulcers in the gums, cleans plaque and whitens teeth will stimulate market demand.
Rising hair loss problem among youths and middle-aged people is projected to support product demand in forecasted years. Increasing hair follicle strength will be key factor driving growth in this segment. Treatment from sun or heat stroke, a condition in which bodys heat regulating system fails to maintain normal temperature will drive product demand in tropical region.
Health threats including tuberculosis and kidney ailments, and thyroid papillary cancer due to over consumption may restrain product demand. Limited dosage is prescribed to avoid any kind of side effects.
Market Segmentation, Outlook & Regional Insights: Fortified Salts Market
Fortified Salts Market, By Product
Iodine was valued at over USD 1.3 billion in 2016. Need for maintaining Basic Metabolic Rate (BMR) in humans for normal functioning of all organs will support growth. Proper thyroid gland functioning by improving hormone production, which is responsible for maintaining bodys BMR will drive product demand.
The product provides benefits such as flushes out the chemical from body including, mercury, lead, fluoride and biological toxins which will further stimulate iodine demand.
Double fortified salts market will witness growth over 8.5% up to 2024. Increasing anemia among people in Asia Pacific is expected to drive growth this segment. It is an effective product in improving iron deficiencies among humans and in lowering multiple deficiencies risk which results from inferior quality diet.
Fortified Salts Market, By Application
Hospitality & service industry will surpass USD 1.5 billion in revenue by 2024. Rising demand of healthy and flavored food in multicuisine restaurants will propel the fortified salts market in this sector.
Extensive application scope of fortified salts in the preservation of meatballs, canned meats, roasts, hams, meatballs, and fish will favor industry growth. According to Organization for Economic Co-operation and Development, meat consumption is estimated around 80 kilograms on average per person in developed countries and 32 kilograms per person in developing countries.
Household & animal feed is observed to be the fastest growing application and will witness over 7.5% up to 2024. Rising consumer awareness along with disease outbreak in cattle has driven the fortified salts market growth in this segment.
Fortified Salts Market, By Distribution Channel
Hypermarket & supermarket will observe more than 7% growth through to 2024. These stores offer huge discount to the customers on buying bulk items and convenience which is likely to drive this segments growth.
Online distribution channel will surpass USD 1.45 billion by 2024. Growing e-commerce industry & usage of plastic money, multiple payment modes, broad product portfolio and increasing investment in logistics & warehouses will enhance product sale through this channel.
Fortified Salts Market, By Region
Asia Pacific, led by India and China was over 4 kilotons in 2016. Surge in demand for nutritious food with the growing ageing population to increase life expectancy level will benefit product demand.
Europe is projected to witness moderate growth and will surpass 3.5 million tons by 2024. The region has adopted salt reduction framework due to excessive intake of salt which has resulted in increased sodium product in the body.
North America fortified salts market size was valued at over USD 1.5 billion in 2016. Growing obese population will drive the industry growth as more than one-third of adults are overweight in the region. The product maintains optimal energy level in body by effective calorie utilization, without allowing it to deposit as excess fats.
Key Players, Recent Developments & Sector Viewpoints: Fortified Salts Market
The industry share is moderately fragmented in nature owing to the presence of large regional manufacturers. Companies are engaged in collaboration, partnership and new product launch which will provide an opportunity for them to increase product penetration. Major players are anticipated to increase their supply chain network across Asia Pacific and North America to capture a bigger share of industry. Entry of new industry players will gradually increase owing to high-profit margin.
Key players of global fortified salts market share include Cargill, Tata Chemicals, AkzoNobel, Compass Minerals, China National Salt Industry, Ankur Salt, Sambhar, Schweizer Salinen, United Salt Corporation and Kutch Brine Chem Industries.
Fortified Salts Industry Viewpoint
The fortification of salt is done to add iodine, iron or both which increases its health benefits. The product is different from conventional counterparts in terms of iodine and iron content.
In last few years, number of babies born prematurely due to iron and iodine deficiency increased significantly. The consumption of sodium chloride with added nutrients has witnessed significant gains. Food experts urged customers to check product labels and choose items with high nutritional ingredients
What are the Key Insights Covered: Exhaustive Fortified Salts Market
1. Market size (sales, revenue and growth rate) of Fortified Salts industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Fortified Salts industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Fortified Salts industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Fortified Salts industry.
What is the Research Methodology used: Fortified Salts Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Fortified Salts Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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