iCrowdNewswire Oct 30, 202010:57 AM ET
Salt Additives Market size is $36.25Bn in 2019, growing at a CAGR of 6.2% during the forecast period 2020-2025. Salt is a mineral composed primarily of sodium chloride (NaCl), a chemical compound belonging to the larger class of salts and in its natural form as a crystalline mineral is like rock salt or halite. It is present in vast quantities in seawater, where it is the main mineral constituent. It is a class of compounds formed by the replacement of one or more hydrogen atoms of an acid with elements or groups, which are composed of anions and cations and which usually ionize in solution and is formed by the neutralization of an acid by a base. Salt additives are also added to fortify salt with various ingredients such as iodine to prevent various deficiency diseases. These are chemical substances added to foods to improve flavour, texture, colour, appearance, consistency, and many more or as preservatives during manufacturing or processing.
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By Product Type – Segment Analysis
In 2019, Iodine segment dominated the Salt Additives Market in terms of revenue is estimated to grow at a CAGR of 5.7%. Iodized salt is table salt mixed with a minute amount of various salts of the element iodine. The ingestion of iodine prevents iodine deficiency and affects about two billion people and is the leading preventable cause of intellectual and developmental disabilities. It is the iodine in iodized salt that helps the body make thyroid hormone, which is critical to an infant’s brain development. It is an element that is needed to produce thyroid hormone. The body does not make iodine, so it is an essential part of diet abetting towards the market’s growth.
Geography – Segment Analysis
In 2019, the North America region dominated Salt Additives Market in terms of revenue with a market share of 39% owing towards changing preferences from traditional products to advanced salt additives and favorable government policies for reimbursement in countries in the region in the region. This growth can be attributed towards the increasing research & development initiatives and government support for the improvement of the healthcare sector. The U.S. Food and Drug Administration issued draft guidance for public comment on voluntary sodium reduction targets for the food industry. Asia Pacific is estimated to record the fastest growth rate during the forecast period 2020-2025.
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Drivers – Salt Additives Market
- Increased Use of Himalayan Pink Salt
Increasing awareness level among people and rising health consciousness among people regarding diets and being healthy is anticipated to impel the demand for the growth of market. Himalayan salt is touted by healthy home cooks as the ultimate mineral-rich seasoning and is the purest of the sea salt. It is set to boost the metabolism so that the body can burn calories more effectively. It can also help with food cravings.
Challenges – Salt Additives Market
- Health Related Issues
The major restraint is the harmful health effects caused by salt additives like high blood pressure and low blood pressure related to consumption salt intakes and the increasing consumer preferences for low salt products is restraining factors for the Salt Additives Market.
- In February 2020, Cargill, Incorporated launched Dubbed Salt & Sear™, the new premium brand touts restaurant-quality beef that consumers can prepare at home. This product launched with a strategy of the protein provider with implementation to help consumers identify quality and freshness in the meat case more easily.
- Increasing demand in food & beverage and food service industries is set to propel the growth of the market.
- The growing awareness of health diseases is the driving factors for the growth of Salt Additives market.
- Asia-Pacific region is estimated to record the fastest growth rate during the forecast period 2020-2025.
Salt Additives Industry Outlook
Product Launches was the key strategy of the players in the Salt Additives Industry. Salt Additives top 10 companies include Cargill, Incorporated, IodiTech, William Blythe Limited, Tata Chemicals Limited, PPG Industries, Inc., CK Life Sciences Int’l., (Holdings) Inc, AkzoNobel Industrial Chemicals, Alaska Pure and Cheetham Salt Ltd.
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