The mineral salt ingredients market is estimated to be valued at US$ 10.56 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Mineral salt ingredients are extensively used in various food and beverage applications such as bakery, confectionery, convenience food, dairy and frozen desserts, nutritional supplements and others. They provide essential minerals required for normal human physiological and metabolic functions. Key mineral salt ingredients used are potassium chloride, calcium chloride, magnesium chloride and sodium chloride.
Increasing health consciousness among consumers regarding intake of essential minerals is expected to drive the mineral salt ingredients market growth over the forecast period. Consumers are increasingly adopting nutritional food and beverages fortified with minerals to fulfil recommended daily allowance. For instance, iodized salts containing iodine are gaining considerable demand especially in developing countries to prevent iodine deficiency disorders. Furthermore, advancing technologies enabling development of innovative blends of mineral salt ingredients along with natural extracts is also fueling the market growth. However, stringent regulations regarding use of certain salts like sodium chloride due to its high sodium content may hamper the market growth during the forecast period.Nevertheless, growing focus on R&D of clean label and organic mineral ingredients using natural extraction processes is expected to create lucrative opportunities over the forecast period.
Strength: Mineral salt ingredients are necessary for food preservation and essential nutrients for human body. They help enhance the taste and flavor of food products. Many mineral salts also act as preservatives which increases the shelf life of packaged foods. The widespread applications in various food industries is a key strength.
Weakness: Availability issues and price fluctuations of raw materials can hamper production. High dependency on agricultural practices for sources of mineral salts can impact supply.
Opportunity: Growing health-conscious population is driving demand for nutritious and mineral-rich food products. Expanding food processing industry in developing nations presents new market opportunities.
Threats: Stringent food quality and safety regulations pose compliance challenges. Volatility in international commodity prices and currencies can increase overall costs.
The global Mineral Salt Ingredients Market Size is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing health consciousness. Processed food companies are focusing on clean label products with essential minerals to cater to consumer demand.
Regional analysis The North America region currently dominates the mineral salt ingredients market owing to significant market opportunities in the US food sector. Europe follows in terms of market share and is anticipated to grow at a steady pace due to large food brands outsourcing mineral fortification needs to specialized manufacturers. Asia Pacific is projected to emerge as the fastest growing regional market stimulated by growing incomes, shifting dietary patterns and expanding retail infrastructure in developing nations.
Key players operating in the Mineral Salt Ingredients market are Corbion, Minerals Technologies Inc., Compass Minerals International Inc., Albion Laboratories, Inc., Paul Lohmann GmbH KG, K+S Aktiengesellschaft, Gadot Biochemical Industries Ltd., Arla Foods amba, DuPont, Jungbunzlauer Suisse AG, SEPPIC, and Koninklijke DSM N.V. They are focusing on innovations to develop customized mineral blends for specific customer applications in various industries.