Kosher Salt Market to Reach US $1517.2 Mn by the End of 2024
MRRSE has recently added a research document to their roster titled “Kosher Salt Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024”.
Albany, NY -- (SBWire) -- 01/19/2017 --The global kosher salt market is currently being driven by the growing awareness among consumers from both developed and developing economies regarding the benefits of consuming kosher salts over processed salts. Additionally, the market also benefits from the facts that the overall requirement of kosher salt per use is more than common salt owing to its open granular structure and high surface area. Kosher salt also makes it easier for consumers to use them due to the ease with which they can be measured using hands as they are easier to pick up than the finer common salt. However, the global kosher salt market is being restricted by its negligible usage in areas where iodine deficiency is at a higher prevalence. The global kosher salt market is segmented on the basis of end users, into retail, food service, and beverage manufacturers. The common packaging materials used in the global kosher salt market include cardboard, papers, and plastics.
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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.
North America to Retain Lead in Kosher Salt Consumption and Production
The key regions in the global kosher salt market are North America, Asia Pacific, Europe, and the rest of the world. Among these, North America has successfully led the global kosher salt market over the past few years in terms of both production as well as consumption. It is highly likely for North America to remain the leader in the global kosher salt market for the coming years, owing to the highly expansive nature of its food and beverage sector. Several developed countries such as the U.S., Canada, and European nations make it mandatory for common salt to contain 97.5% sodium chloride per unit volume. Several manufacturers make use of preservatives and anti-caking agents, chemicals that are absent from kosher salt. The high awareness among common consumers regarding the difference between processed salts and kosher salts is what imparts a heavy demand for the latter in the U.S.
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Heavy Use of Kosher Salt Crystals in Restaurants Pushes Demand
Kosher salt crystals have shown a leading nature of demand in the global kosher salt market. Kosher salt crystals have consistently experienced a massive demand from the food and beverage industry. Given the currently expanding nature of this sector, it is likely that the demand for kosher salt crystals will be increasing over the coming years. Restaurants commonly make use of kosher salt crystals in their food preparations, owing to the unique nature of kosher salts imparting a seasoning to meats without making them excessively salty. This is the primary reason why chefs across the world prefer to use kosher salts to season their meats.
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The top names linked to the global kosher salt market today, include The major players in the global Kosher Salt market include Morton Salt, Inc. (Chicago, U.S.), San Francisco Slat Company (San Leandro, U.S.), Redmont, Inc. (Utah, U.S.), Cargill, Inc. (Minnesota, Ireland), Qingdao Huifenghe Msg Co., Ltd. (Shandong, China), Flavor Delite, Inc. (Pointe-Claire, Quebec), Marblehead Salt Co. (Marblehead, U.S.), Thai Refined Salt Co., Ltd. (Bangkok, Thailand), K+S Windsor Salt Ltd. (Kassel, Germany), Saltworks, Inc. (Woodinville, U.S.), and Natural Minerals (Overland Park, U.S.).
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