Transparency Market Research has released a new market report entitled “Kosher Salt Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2024” on to their report store.
Albany, NY -- (SBWIRE) -- 08/16/2017 -- K+S Aktiengesellschaft, Cargill, Inc., and Compass Minerals have been the leaders of the global kosher salt market in 2015 with a collective share of 70.4% of the market value. With such a massive share in the market's value, the global kosher salt market has been consistently consolidated in nature with only a basic regional scope of growth for localized businesses. However, the global kosher salt market contains a highly unorganized business sector that belongs to these regional players, making overall consolidation efforts and market statistics calculation difficult tasks.
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According to a research report released by Transparency Market Research, the global kosher salt market is expected to show a heavy concentration in China, followed by the entry of new players in developed regions, especially in the U.S. On the basis of revenue, the global kosher salt market was valued at US$832.3 mn at the end of 2015. It is expected to reach US$1517.2 mn by the end of 2024, after expanding at a CAGR of 7.0% from 2016 to 2024. On the basis of volume, the global kosher salt market is expected to progress at a CAGR of 3.7% from 2016 to 2024.
Very High Preference for Kosher Salts in Expansive Food Service Industry Boosts Demand
"Kosher salts hold a very unique and lasting advantage over common processed salts. They are far less intense in taste and are purer than table salt. This makes them a great choice for seasoning and cooking meat as they add to the quality of the cook meat without making the preparation overly salty. This is why a majority of chefs in the world prefer to season meats using kosher salts over table salts. Coupled with the fact that the food and beverages industry as well as its food services component are increasing at very fast rates, the demand for kosher salts is very likely to show an upswing over the coming years," states a TMR analyst.
The global kosher salt market is also being augmented by the physical properties of kosher salt that make them much easier to use than table salts. Kosher salts and coarse and granular in nature which allows consumers to pick them up by hand in order to use and to measure. At the same time, the overall volume of kosher salts used in foods is greater than table salts due to their less salty nature as well as their higher surface areas and open granular structures.
Lower Iodine Proportions make Kosher Salts Unadvisable in Certain Regions
One of the key restraints acting on the global kosher salt market is the lower use or even absence of kosher salts in certain geographical location around the world. The overall consumption of table salts and iodine is less in these regions and the introduction of kosher salts is extremely difficult here due to the low iodine content they hold. Table salts are often iodized in these regions and are therefore in greater preference.
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"Apart from these specific locations, the majority of the world is showing a greater inclination towards the use of kosher salts. They are healthier and help season meat much better than table salts, two facts that are getting known better across the world. As the overall consumption of food and especially meats in the world increases, there will remain a high scope of growth for players in the global kosher salt market for the coming years," adds the analyst.