Global Market Study on Gourmet Salts: Western Europe to Witness Highest Growth By 2025
New York, NY -- (SBWIRE) -- 09/15/2017 -- Naturally harvested, untreated sea salts are generally referred to as gourmet salts. These salts enhance the flavor and dressing of food products, imparting them a little moisture and exotic flavor. With the demand for gourmet foods consistently on the rise, the demand for gourmet salts is also propelling since the past few years. The global gourmet salts market attained a value of US$ 1.12 Bn in 2015, and it is foreseen to reach up to US$ 2.19 Bn by 2025 end. During the forecast period 2015-2025, the market is anticipated to expand at a moderate CAGR of 6.9%.
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Key Market Dynamics
Increasing urbanization, the rising wave of westernization, and growing popularity of natural or organic food products is one of the key factors driving the demand for gourmet salts on a global level. Gourmet salts are known to have better solubility. In addition, they are enriched with mineral content. The exotic flavor they offer to food products is unmatched. These advantages of gourmet salts will remain the key drivers sustaining the demand in the global market. Since naturally harvested, these salts are devoid of any additives and represent lower sodium content. Growing health consciousness worldwide will also fuel the demand. Following increasing incidences of disorders resultant of high sodium levels in body, this is a major factor that is expected to boost the demand for gourmet salts in the near future. The demand for gourmet food is increasing since the past few years, eventually bolstering the market for gourmet salts as well. Several live cooking shows promote gourmet salts and other gourmet food products, which will further push the market through to 2025. The industry consistently observes new, innovative product launches, fostering the market growth.
Limited availability, coupled with expensive cost, will remain the key factors limiting the market penetration during 2015-2025. In addition, the adoption rate of natural salts is much lower compared to treated salts. This is also identified a major challenge hampering the market growth.
Based on the product type, the global gourmet salts market is bifurcated into coarse salt, flake salts, fleur de sel, sel gris, Indian pink salt, Italian salts, smoked salts, and others. In 2015, the fleur de sel segment accounted for almost 20% of the entire gourmet salts market value. In terms of revenues, this segment is estimated at a CAGR of 7.5%, whereas in terms of shipment, the expected CAGR is of 7.3% over the forecast period. Another major segment is of the coarse salt, which will reportedly account for over 18% share of the market by 2025 end. In terms of revenues, this segment will register the fastest CAGR of 7.7% over 2015-2025. By application, the global market for gourmet salts will witness the highest growth in the meat and poultry segment. This segment is projected to account for over 30% share of the entire market, expanding at a CAGR of 7.5% during the forecast period. Other application segments include bakery and confectionary, seafood, sauces and savory, and desserts and frozen food. The growth of the meat and poultry segment is attributed to the rise in the adoption of gourmet recipes in households.
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The regional analysis of the global gourmet salts market indicates that that market is highly concentrated in Western Europe, which is the largest as well as fastest growing market over 2015-2025. Western Europe will account for over 32% share of the global market revenues, expanding at the highest CAGR of 7.3% during the forecast period, in terms of value. However, North America is also anticipated to witness a significant CAGR of 7.2% in terms of shipment.
Key Market Players
The global gourmet salts market is operated by a number of key players. Some of the leading companies are Cargill, Incorporated, Morton Salt, Inc. (K+S Aktiengesellschaft), SaltWorks, Inc., CK Life Sciences Int'l., (Holdings) Inc. (Cheetham Salt Limited), Amagansett Sea Salt Co., Murray River Gourmet Salt, INFOSA, Pyramid Salt Pty. Ltd., and The Marblehead Salt Co. LLC..