Global Fortified Salt Market Overview
Global Fortified Salt Market was valued at USD 5.29 billion in 2021 and is expected to reach USD 9.30 billion by the year 2028, at a CAGR of 8.4%.
Salt is an ideal porter for micronutrient fortification and micronutrients such as iodine and iron can be found through salt, which ingurgitated by an individual provides various nutritional benefits, this micronutrient added salt is called as fortified salt. Fortification of salt is appreciated as one of the most cost-effective methods to tackle deficiency of iron and iodine as it is universally consumed by all income groups and age segments. Double fortified salt (DFS) is a form of table salt produced with mixed iron and iodine. When consumed in regular food, it may help to reduce iron deficiency and iodine deficiency disorders which helps to growth of fortified salt market.
Moreover, Iron insufficiency Anemia (IDA) and Iodine Deficiency Disorder (IDD) come up with for the micronutrient deficiencies of public health significance over the globe, noticeably in the developing and under-developed countries. For instance, according to TATA Trust India, the trusts reinforced DFS interference in the government’s mid-day meal, Integrated Child Development Services and Public Distribution Services Program have benefited around 68 million people from India.
COVID-19 Impact Analysis of Fortified Salt Market
During COVID 19 pandemic growing consciousness as well as necessity among consumers about immunity to safeguard themselves from the virus had fueled the sales of such products. This factor leads to growth in demand for fortified salt. However, COVID-19 has obstructed the value chain across the globe due to lockdown of production units, limitations for transportation, and closures of borders across the nations which leads to hindering the production and sales of the product across the globe.
Report Coverage:
The global market report of Fortified Salt Market by the Introspective Market Research includes qualitative and quantitative insights. The company also offers a detailed analysis of the market size and growth rate of the possible segments. The report tracks recent developments, key players and start-up’s details that are working in the industry. The report offers surplus of information about market entry strategies, regulatory framework and reimbursement scenario.
Market Dynamics And Factor
Drivers:
The key driving factor for the global fortified salts market is rising consumer preference for nutritional diet coupled with constantly mounting malnutrition cases among the children and adults have resulted in growing surge for fortified salts over developing countries. The main factor such as growing incidence of anemia due to iron deficiency is further supplementing the sales for fortified salts. In addition, the rapid growing in sales of fortified salts due to the increasing demand for food preservation due to rising consumption of processed and packaged food is expected to drive the global fortified salts market.
An increasing hair loss problem in the youths and middle-aged people in anticipated to product surge in upcoming years. The growing hair follicle strength will be prime driving factor to growth of the market.
Restraints:
Insufficient awareness and low purchasing power in developing countries, health menacing including tuberculosis and kidney ailments, and thyroid papillary cancer owing to over consumption may hamper the global fortified salts market growth in projected period.
Opportunities:
Rising support of e-commerce for essential food products is anticipated to grow the sales of the product in developed countries.
Growing the number of miscarriages as well as low mental growth witnessed in the children resulted to lower intake of iron, has initiation of programs by the government in developing nations for the promoting benefits of fortified salt, such positive moves will stimulate the growth in fortified salt industry and is expected to grow in upcoming years.
Market Segmentation
Type Insights
Based on product type, double fortified salt is more beneficial with their delivery of crucial daily amount of iodine and iron, which dominating the market. Based on application, food and beverage industry dominated the fortified salt market owing to usage in food products, beverages and others. Based on distribution channels, owing to easy availability in grocery store with the discount price for the customer dominates the market.
Regional Analysis:
Asia Pacific dominates the market owing to high population, highest usage of fortified salt as well as being presence of major key players such as Tata Chemicals, Annapurna Salt, Bajaj Salt, Hindustan Salt, Tamil Nadu Salt Corporation in the region are factors leads to boost the market over forecast period.
Rising the obese population will drive the market expansion as more than one third od adults are overweight in North America region. The fortified salt product helps to maintains full energy level in the body by proper calorie consumption, without allowing extra fat deposition.
The Europe region has adopted salt reduction framework owing to excessive intake of salt which has resulted in increased sodium product in the body. Which leads to moderate growth in projected period.
Players Covered in Fortified Salt Market are:
- Cargill Incorporated
- Tata Chemicals
- China National Salt Industry
- United Salt Corporation
- Kutch Brine Chem Industries
- Sambhar
- AkzoNobel
- Schweizer Salinen
- Ankur Salt
- Windsor Salt
- Annapurna Salt
- Bajaj Salt
- Super Salt
- Shreeram Chem Food
- Saboo Sodium Choro
- Ahir Salt Industries
- Hindustan Salt
- Compass Minerals
- Tamil Nadu Salt Corporation and other major players.
Key Industry Developments
- In April 2017, TATA Chemicals launches fortified salt products in East African countries. The instigate of two flagship salt-based products for the Kenyan livestock is the peak of the long journey of market analysis and purchase of new marketing skills.
- In December 2019, China National Salt Industry decided to keep innovating in developing in salt business. China National Salt Industry is the leading and only state-owned enterprises of China’s salt industry. In addition, company also announced to innovation in bringing the health value of salt and will continue to design low-sodium salt, while at the same time try to add favorable microelements to salt to make it healthier for consumers.
Global Fortified Salt Market |
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Base Year: |
2021 |
Forecast Period: |
2022-2028 |
Historical Data: |
2016 to 2020 |
Market Size in 2021: |
USD 5.29 Bn. |
Forecast Period 2022-28 CAGR: |
8.4% |
Market Size in 2028: |
USD 9.30 Bn. |
Segments Covered: |
By Type |
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By Application |
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By Distribution Channel |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Application
3.3 By Distribution Channels
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Fortified Salt Market by Type
5.1 Fortified Salt Market Overview Snapshot and Growth Engine
5.2 Fortified Salt Market Overview
5.3 Iodine
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2016-2028F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Iodine: Grographic Segmentation
5.4 Iron
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2016-2028F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Iron: Grographic Segmentation
5.5 Double Fortified Salt
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2016-2028F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Double Fortified Salt: Grographic Segmentation
Chapter 6: Fortified Salt Market by Application
6.1 Fortified Salt Market Overview Snapshot and Growth Engine
6.2 Fortified Salt Market Overview
6.3 Food Processing
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2016-2028F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Food Processing: Grographic Segmentation
6.4 Household
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2016-2028F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Household: Grographic Segmentation
6.5 Animal Feed
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2016-2028F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Animal Feed: Grographic Segmentation
6.6 Hospitality & Services
6.6.1 Introduction and Market Overview
6.6.2 Historic and Forecasted Market Size (2016-2028F)
6.6.3 Key Market Trends, Growth Factors and Opportunities
6.6.4 Hospitality & Services: Grographic Segmentation
6.7 Others
6.7.1 Introduction and Market Overview
6.7.2 Historic and Forecasted Market Size (2016-2028F)
6.7.3 Key Market Trends, Growth Factors and Opportunities
6.7.4 Others: Grographic Segmentation
Chapter 7: Fortified Salt Market by Distribution Channels
7.1 Fortified Salt Market Overview Snapshot and Growth Engine
7.2 Fortified Salt Market Overview
7.3 Hypermarket/Supermarket
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size (2016-2028F)
7.3.3 Key Market Trends, Growth Factors and Opportunities
7.3.4 Hypermarket/Supermarket: Grographic Segmentation
7.4 Grocery Stores
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size (2016-2028F)
7.4.3 Key Market Trends, Growth Factors and Opportunities
7.4.4 Grocery Stores: Grographic Segmentation
7.5 Online
7.5.1 Introduction and Market Overview
7.5.2 Historic and Forecasted Market Size (2016-2028F)
7.5.3 Key Market Trends, Growth Factors and Opportunities
7.5.4 Online: Grographic Segmentation
7.6 Others
7.6.1 Introduction and Market Overview
7.6.2 Historic and Forecasted Market Size (2016-2028F)
7.6.3 Key Market Trends, Growth Factors and Opportunities
7.6.4 Others: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
8.1 Competitive Landscape
8.1.1 Competitive Positioning
8.1.2 Fortified Salt Sales and Market Share By Players
8.1.3 Industry BCG Matrix
8.1.4 Ansoff Matrix
8.1.5 Fortified Salt Industry Concentration Ratio (CR5 and HHI)
8.1.6 Top 5 Fortified Salt Players Market Share
8.1.7 Mergers and Acquisitions
8.1.8 Business Strategies By Top Players
8.2 CARGILL INCORPORATED
8.2.1 Company Overview
8.2.2 Key Executives
8.2.3 Company Snapshot
8.2.4 Operating Business Segments
8.2.5 Product Portfolio
8.2.6 Business Performance
8.2.7 Key Strategic Moves and Recent Developments
8.2.8 SWOT Analysis
8.3 TATA CHEMICALS
8.4 CHINA NATIONAL SALT INDUSTRY
8.5 UNITED SALT CORPORATION
8.6 KUTCH BRINE CHEM INDUSTRIES
8.7 SAMBHAR
8.8 AKZONOBEL
8.9 SCHWEIZER SALINEN
8.10 ANKUR SALT
8.11 WINDSOR SALT
8.12 ANNAPURNA SALT
8.13 BAJAJ SALT
8.14 SUPER SALT
8.15 SHREERAM CHEM FOOD
8.16 SABOO SODIUM CHORO
8.17 AHIR SALT INDUSTRIES
8.18 HINDUSTAN SALT
8.19 COMPASS MINERALS
8.20 TAMIL NADU SALT CORPORATION
8.21 OTHER MAJOR PLAYERS
Chapter 9: Global Fortified Salt Market Analysis, Insights and Forecast, 2016-2028
9.1 Market Overview
9.2 Historic and Forecasted Market Size By Type
9.2.1 Iodine
9.2.2 Iron
9.2.3 Double Fortified Salt
9.3 Historic and Forecasted Market Size By Application
9.3.1 Food Processing
9.3.2 Household
9.3.3 Animal Feed
9.3.4 Hospitality & Services
9.3.5 Others
9.4 Historic and Forecasted Market Size By Distribution Channels
9.4.1 Hypermarket/Supermarket
9.4.2 Grocery Stores
9.4.3 Online
9.4.4 Others
Chapter 10: North America Fortified Salt Market Analysis, Insights and Forecast, 2016-2028
10.1 Key Market Trends, Growth Factors and Opportunities
10.2 Impact of Covid-19
10.3 Key Players
10.4 Key Market Trends, Growth Factors and Opportunities
10.4 Historic and Forecasted Market Size By Type
10.4.1 Iodine
10.4.2 Iron
10.4.3 Double Fortified Salt
10.5 Historic and Forecasted Market Size By Application
10.5.1 Food Processing
10.5.2 Household
10.5.3 Animal Feed
10.5.4 Hospitality & Services
10.5.5 Others
10.6 Historic and Forecasted Market Size By Distribution Channels
10.6.1 Hypermarket/Supermarket
10.6.2 Grocery Stores
10.6.3 Online
10.6.4 Others
10.7 Historic and Forecast Market Size by Country
10.7.1 U.S.
10.7.2 Canada
10.7.3 Mexico
Chapter 11: Europe Fortified Salt Market Analysis, Insights and Forecast, 2016-2028
11.1 Key Market Trends, Growth Factors and Opportunities
11.2 Impact of Covid-19
11.3 Key Players
11.4 Key Market Trends, Growth Factors and Opportunities
11.4 Historic and Forecasted Market Size By Type
11.4.1 Iodine
11.4.2 Iron
11.4.3 Double Fortified Salt
11.5 Historic and Forecasted Market Size By Application
11.5.1 Food Processing
11.5.2 Household
11.5.3 Animal Feed
11.5.4 Hospitality & Services
11.5.5 Others
11.6 Historic and Forecasted Market Size By Distribution Channels
11.6.1 Hypermarket/Supermarket
11.6.2 Grocery Stores
11.6.3 Online
11.6.4 Others
11.7 Historic and Forecast Market Size by Country
11.7.1 Germany
11.7.2 U.K.
11.7.3 France
11.7.4 Italy
11.7.5 Russia
11.7.6 Spain
11.7.7 Rest of Europe
Chapter 12: Asia-Pacific Fortified Salt Market Analysis, Insights and Forecast, 2016-2028
12.1 Key Market Trends, Growth Factors and Opportunities
12.2 Impact of Covid-19
12.3 Key Players
12.4 Key Market Trends, Growth Factors and Opportunities
12.4 Historic and Forecasted Market Size By Type
12.4.1 Iodine
12.4.2 Iron
12.4.3 Double Fortified Salt
12.5 Historic and Forecasted Market Size By Application
12.5.1 Food Processing
12.5.2 Household
12.5.3 Animal Feed
12.5.4 Hospitality & Services
12.5.5 Others
12.6 Historic and Forecasted Market Size By Distribution Channels
12.6.1 Hypermarket/Supermarket
12.6.2 Grocery Stores
12.6.3 Online
12.6.4 Others
12.7 Historic and Forecast Market Size by Country
12.7.1 China
12.7.2 India
12.7.3 Japan
12.7.4 Singapore
12.7.5 Australia
12.7.6 New Zealand
12.7.7 Rest of APAC
Chapter 13: Middle East & Africa Fortified Salt Market Analysis, Insights and Forecast, 2016-2028
13.1 Key Market Trends, Growth Factors and Opportunities
13.2 Impact of Covid-19
13.3 Key Players
13.4 Key Market Trends, Growth Factors and Opportunities
13.4 Historic and Forecasted Market Size By Type
13.4.1 Iodine
13.4.2 Iron
13.4.3 Double Fortified Salt
13.5 Historic and Forecasted Market Size By Application
13.5.1 Food Processing
13.5.2 Household
13.5.3 Animal Feed
13.5.4 Hospitality & Services
13.5.5 Others
13.6 Historic and Forecasted Market Size By Distribution Channels
13.6.1 Hypermarket/Supermarket
13.6.2 Grocery Stores
13.6.3 Online
13.6.4 Others
13.7 Historic and Forecast Market Size by Country
13.7.1 Turkey
13.7.2 Saudi Arabia
13.7.3 Iran
13.7.4 UAE
13.7.5 Africa
13.7.6 Rest of MEA
Chapter 14: South America Fortified Salt Market Analysis, Insights and Forecast, 2016-2028
14.1 Key Market Trends, Growth Factors and Opportunities
14.2 Impact of Covid-19
14.3 Key Players
14.4 Key Market Trends, Growth Factors and Opportunities
14.4 Historic and Forecasted Market Size By Type
14.4.1 Iodine
14.4.2 Iron
14.4.3 Double Fortified Salt
14.5 Historic and Forecasted Market Size By Application
14.5.1 Food Processing
14.5.2 Household
14.5.3 Animal Feed
14.5.4 Hospitality & Services
14.5.5 Others
14.6 Historic and Forecasted Market Size By Distribution Channels
14.6.1 Hypermarket/Supermarket
14.6.2 Grocery Stores
14.6.3 Online
14.6.4 Others
14.7 Historic and Forecast Market Size by Country
14.7.1 Brazil
14.7.2 Argentina
14.7.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion
Global Fortified Salt Market |
|||
Base Year: |
2021 |
Forecast Period: |
2022-2028 |
Historical Data: |
2016 to 2020 |
Market Size in 2021: |
USD 5.29 Bn. |
Forecast Period 2022-28 CAGR: |
8.4% |
Market Size in 2028: |
USD 9.30 Bn. |
Segments Covered: |
By Type |
|
|
By Application |
|
||
By Distribution Channel |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Fortified Salt Market research report is 2022-2028.
Cargill Incorporated, Tata Chemicals, China National Salt Industry, United Salt Corporation, Kutch Brine Chem Industries, Sambhar, AkzoNobel, Schweizer Salinen, Ankur Salt, Windsor Salt, Annapurna Salt, Bajaj Salt, Super Salt, Shreeram Chem Food, Saboo Sodium Choro, Ahir Salt Industries, Hindustan Salt, Compass Minerals, Tamil Nadu Salt Corporation, and other major players.
The Fortified Salt Market is segmented into Vehicle Type, Component, Fuel Type and region. By Vehicle Type, the market is categorized into Passenger cars, and Commercial Vehicles. By Component, the market is categorized into Pump, Urea Tank, Injector, and ECU. By Fuel Type, the market is categorized into Diesel and Gasoline. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Fortification of salt is appreciated as one of the most cost-effective methods to tackle deficiency of iron and iodine as it is universally consumed by all income groups and age segments.
The Fortified Salt Market was valued at USD 5.29 Billion in 2021 and is projected to reach USD 9.30 Billion by 2028, growing at a CAGR of 8.4% from 2022 to 2028.