Fortified Salts Market Is Predicted to Grow Exponentially By 2026
Date: 2020-03-06   Author: Rahul Sankrityayan  Category: #news

Fortified Salts Market Is Predicted to Grow Exponentially By 2026

DecResearch has recently published a distinguished study on the Global Fortified Salts Market. The study examines the market thoroughly and has provided a rather structured evaluation analysis of the business. This structured analysis is a collection of diagrammatic and graphical representations of the worldwide Fortified Salts Market along with certain information on the regional landscape.

Fortified Salts Market valuation was recorded at USD 3.5 billion in 2016 and is projected to exceed a volume of 19.4-kilo tons by 2024.

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The growing emphasis on nutritional food intake coupled with the increasing prevalence of malnutrition among children are few of the profound factors favoring fortified salts industry trends. The iodine deficiency is also leaving a favorable impact on fortified salts industry trends. APAC and MEA are the two major regions highly under the influence of this trend with Goiter – an ailment caused by iodine deficiency, prevailing significantly in these regions. Owing to these prominent medical benefits, fortified salts industry is becoming an attraction for the investors to generate huge margins.

Fortified salts find a wide range of applications across food processing, dental, hospital & service, and household & animal feed sectors. Burgeoning need for preserving processed & packaged food will boost the product demand across the food processing sector. Household & animal feed sector is forecast to record a CAGR of more than 7.5% over the coming seven years, subject to growing health consciousness among the consumers coupled with the rising healthy diet requirement for the livestock.

Fortified salts market value in the hospitality & service sector, worth more than USD 900 million in 2016, is estimated to hit over USD 1.5 billion by 2024, owing to the growing popularity of healthy as well as flavored food among the consumers.

Escalating concerns about the dental hygiene of the children aged between 2 to 11 years is expected to boost the product demand across the dental sector. Extensive product usage in healing gum ulcers and teeth whitening will accelerate fortified salts market growth in the dental sector.

Top Key Players :

  1. Tata Chemicals
  2.  AkzoNobel
  3.  Compass Minerals
  4.  Cargill Salt
  5.  China National Salt Industry
  6.  Ankur Salt
  7.  Sambhar Salts
  8.  Windsor Salts
  9.  United Salt Corporation
  10.  Kutch Brine Chem Industries
  11.  Ahir Salt Industries
  12.  Schweizer Salinen
  13.  Hindustan Salts
  14.  Tamil Nadu Salt Corporation
  15.  Annapurna Salts
  16.  Saboo Sodium Chloro
  17.  Nirma Shudh
  18.  Bajaj Salt
  19.  Super Salts
  20.  Shreeram Chemfood

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Market Segmentation By Types:

  1. Iodine
  2. Iron
  3. Double Fortified Salts

Market Segment By Applications:

  1. Hospitality & Service
  2. Food Processing
  3. Household
  4. Animal Feed

North America fortified salts industry size, which was evaluated at more than USD 1.5 billion in 2016, is projected to witness a lucrative surge in the future. Rise in the obese population, pregnancy-induced hypertension, neurological diseases, and miscarriages are some of the key growth drivers.

Asia Pacific fortified salts market value is foreseen to reach USD 2.4 billion by 2024, driven by healthy dietary habits coupled with the rise in the rate of life expectancy. China, Vietnam, and India are the major regional revenue pockets. Vietnam fortified salts industry is anticipated to grow at a rate of more than 7.5% over 2017-2024. Large production of fine salt along with its mounting sales will push the growth.

Double fortified salts industry revenue, worth USD 845 million in 2016, is set to expand at a CAGR of more than 8.5% over the coming years, owing to the rise in the anemic conditions among the women & child population across the globe. High product demand across the APAC region can be attributed to the large number of anemia cases witnessed among its population.

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Fortified salts industry size from online stores is expected to hit USD 1.45 billion by 2024 registering a CAGR of more than 7% over the coming timeline. Fortified salts market revenue from hypermarket & supermarket is slated to grow at an annual rate of over 7% during the period from 2017 to 2024, subject to huge rebates offered by these stores on the purchase of items in bulk. Grocery stores contributed more than USD 1.5 billion towards fortified salts industry revenue in 2016 driven by the popular use of the product across the household sector.

AkzoNobel N.V., United Salt Corporation, Ahir Salt Industries, China National Salt Industry Corporation, Tata Chemicals Limited, Ankur Salt, Schweizer Salinen, Kutch Brine Chem Industries, and Cargill are the major participants of fortified salts industry.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for algosonline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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