Global Salts Market Segmentation by Product Type (Solar-evaporated Salt, Rock Salt, Brine, Vacuum-evaporated Salt), Solar-evaporated salt accounts for a leading share of 40.8% in the market.
Industry: Food and Beverages
Published Date: February-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP33307
The global salt market is forecasted to expand rapidly at a CAGR of 3.9% and increase from a valuation of US$ 23.34 billion in 2023 to US$ 32.41 billion by the end of 2033.
China, Japan, the United States, India, Indonesia, Germany, and France are leading markets for salt and will continue to be so over the coming years.
Worldwide consumption of salt during the historical period of 2018 to 2022 increased at a CAGR of 2.9%. However, the market is expected to grow faster over the coming years.
Salt is a naturally occurring mineral that is widely used for various purposes and therefore has an established global market. With a long history of use for road de-icing, food seasoning, and water softening, salt helps maintain the shelf life of food and beverages. Its affordability and abundance, combined with simple processing methods, make it a preferred choice for both manufacturers and processors worldwide.
Salt is a highly sought-after substance due to its versatility, with a large portion of the salt produced and imported in North America and Europe being used as a de-icing agent due to its cost-effectiveness. It is also a crucial ingredient in the electrolysis of salt brine to produce caustic soda and chlorine and is widely used in chemical manufacturing for synthesizing chemicals.
Salt manufacturers are investing in new technology to improve their production capacities and enhance the quality of salt, while the growing preference for high-quality food ingredients is prompting food manufacturers to use natural ingredients in their products.
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Salt Market Size (2023E) |
US$ 23.34 Billion |
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Projected Sales of Salt (2033F) |
US$ 32.41 Billion |
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Value CAGR (2023 to 2033) |
~3.9% |
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Value Share of Top 5 Countries (2023E) |
~32.4% |
“Increasing Utilization of Salt in Animal Feed Industry”
Salt is an essential element required in designing a balanced feed for animals. Like humans, animals also require salt in optimum amounts to maintain their metabolism and crucial biological pathways. Traditionally, inexpensive salts like rock salt and other low-grade salts are utilized for feed applications.
Due to recent restrictions on the purity of feed ingredients in many regions, manufacturers of animal feed are now mandated to use high-quality components for the designated animals. Ruminants’ consumption of salt-based feed is significant as sodium is essential for producing high-quality milk. The demand for proper nutrition is expected to increase, leading to a predicted rise in demand for salt in the future.
“Rising Awareness of Health Benefits Associated with Salt”
The growth of this market is being driven by increasing awareness of the importance of salt for a healthy lifestyle. Awareness of the health benefits of the minerals in salt is expected to drive the demand for such products. Ingredients are formulated for different applications, including pharmaceutical, nutritional, and cosmetic.
Leading manufacturers such as Tata Consumer Products offer fortified salt products such as Tata Salt Immuno with minerals like zinc, iodine, and iron to promote optimum health and reduce the risk of diseases.
“Rising Demand for Dietary Supplements”
Aging is primarily caused by free radicals, metabolic byproducts, and environmental factors that weaken the immune system and increase inflammation. Salt contains high levels of antioxidants that protect and reinforce cell membranes from dehydration and external stressors. It is also effective in reducing stress, skin diseases, inflammatory diseases, and hair loss, which is expected to drive the demand for salt in the forecast period.
“Risks Associated with High Sodium Intake Driving Demand for Salt Substitutes”
This has led food manufacturers and salt-sensitive populations (about 25% of the total population) to opt for salt replacers as high sodium intake is linked to many diseases.
Salt replacers are in high demand as they reduce the sodium content in food while maintaining the taste. Companies have improved the taste of potassium salt by using bitterness blockers and masking agents like L-lysine, eliminating the bitter aftertaste. This is expected to negatively impact the growth of the market for vacuum-evaporated salt as the food industry is a major user of vacuum salt.
Which Countries are Leading Markets for Salt in the European Region?
In the European market, Germany, Italy, France, and Spain hold market shares of US$ 473.7 million, US$ 364.6 million, US$ 448.0 million, and US$ 343.8 million, respectively.
Based on end use, the food processing industry is set to see an increase in the use of salt in the region at a CAGR of 4.2%.
How is the South Asian Market for Salt Faring?
In the South Asian market, the market India is expected to expand at a CAGR of 5.8%, followed by Indonesia at 4.6%, during the forecast period. Due to the availability of salty lakes across various South Asian countries, including India and Indonesia, the solar evaporation method of producing salt is becoming popular in the region.
Which Type of Salt Generates the Highest Revenue for Market Players?
Solar-evaporated salt accounts for a leading share of 40.8% in the market and is estimated to generate a revenue of US$ 9.12 billion in 2023. The abundance of salt lakes and long coastlines has led salt producers around the world to adopt the solar evaporation method for producing salt. The low cost and ease of processing offered by solar evaporation have driven its widespread acceptance among producers in the global industrial salt industry.
Which End Use of Salt is Most Popular?
Based on end use, the global salt market is segmented into chemical manufacturing, food processing, livestock, road deicing, and others. Among these, the road deicing segment is the second-fastest growing end-use industry, driven by the high use of salt for road safety of vehicles and commuters.
In 2023, the road deicing segment is expected to generate a market value of US$ 3.83 billion, outpacing chemical manufacturing, livestock, and food processing, and accounting for a market share of 17.2%.
Multinational companies offering a wide range of products occupy a market share of 20% to 25%. Key players in the industry include Cargill, Incorporated, Mitsui & Company, K+S AG, and ITC Limited, among others. These manufacturers aim to offer products for various applications, including deicing, food processing, water softening, and others. Regional players hold 45% to 55% market share, while local players occupy 15% to 20% market share.
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Attribute |
Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon request |
By Product Type:
By Purity:
By End Use:
By Region:
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The global salt market is estimated to be valued at US$ 23.34 billion in 2023.
The salt market expanded at a CAGR of 2.9% from 2018 to 2022.
Worldwide consumption of salt is estimated to reach US$ 32.41 billion by 2033.
The market for salt is estimated to expand at a CAGR of 3.9% from 2023 to 2033.
Growing demand for salt in cosmeceuticals and rising production of processed foods and beverages are among the key market trends.
Cargill, Incorporated, Mitsui & Company, K+S AG, and ITC Limited are leading suppliers of salt.
East Asia accounts for 28.5% share of the global market.
The U.S. salt market is valued at US$ 3.21 billion in 2023 and is expected to expand at a CAGR of 2.7% from 2023 to 2033.
