Future Outlook of Kosher Salt Market: Market to be Worth US$1517.2 mn by 2024
Albany, NY -- (SBWIRE) -- 06/11/2018 -- As per a report by market intelligence company Transparency Market Research (TMR), the global kosher salt market is led by K+S Aktiengesellschaft, Cargill, Inc., and Compass Minerals which are the top three companies, that held a whopping 70.4% of the total market in 2015. Thus, the market is consolidated with just a basic scope of growth for local business. As per TMR, the global kosher salt market is expected to be worth US$1517.2 mn by 2024, with China as its leading regional market, followed by the U.S.
High Demand for Use in Meat by Chefs to Boost Growth of Kosher Salt Market
Since kosher salts are less intense in terms of taste and purer than table salt, they are a great choice for cooking and seasoning meat, as it can aid in the cooking of quality meat without making the preparation too salty. The growing preference by renowned chefs all over the world to cook meat with kosher salt is one of the key factors boosting the growth of this market. as per TMR, "the increasing preference for this salt is also attributed to the fact that these salts are granular and coarse, allowing people to pick them up by and for measuring and using it to cook." The growing food and beverage industry is having a positive impact on the growth of the global kosher salt market.
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Growing Consciousness among Consumers Regarding Benefits of Kosher Salt to Drive Demand
The global kosher salt market is presently being boosted by the increasing consciousness among users from both developing and developed countries regarding the advantages of using kosher salts in comparison to processed salts. In addition, the market also profits from the facts that the in general need of kosher salt for utilization is more in comparison common salt due to its high surface area and open granular arrangement.
The growing awareness regarding the benefits of consuming kosher salt as compared to processed salt will drive the market. The market also benefits from the fact that kosher salt is required more as opposed to table salt on account of their open granular arrangement and high surface area. On the other hand, the absence of kosher salts in certain geographical areas of the world is restricting the growth of the market.
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In terms of product, the market is segmented into kosher salt flakes, kosher salt, and kosher salt crystals. By end user, the market is segmented into food and beverage manufacturers, food service companies, and kosher salt flakes. By packaging material type, the market is segmented into cardboard and paper, plastic, and others.