Global Gourmet Salt Market-Growth, Trends & Forecast (2017 - 2022)

Published - Jan 2017 | Category - Food & Beverages | No. of Pages - 154 | Published By - Mordor Intelligence

Report Highlights

Gourmet is salt produced from the evaporation of seawater. It is used in cookingand food preservation. It is also called bay saltor sea salt. Like mineral salt, production of sea salt has been dated to prehistoric times. Rising demand for traditional cuisines with enhanced flavors brought the gourmet salt in to the spotlight. The global gourmet salt market had revenue $1047 million in 2015 and is expected to touch $1438 million by 2020 with an estimated CAGR of 6.5%.Cosmopolitan culture created a demand for traditional cuisines in the metros and subsequently, gourmet salts found their increased application owing to their ability to incorporate the ting of traditional flavor and aroma in the foods. Gourmet salts have also gained popularity among professional chefs in luxury hotels. With boasted benefits over commercial salt, health aware populations of western countries started using rock salts for domestic purposes creating a demand for the same in the market. Gourmet salts also boast high profit margins to the retailers acting as a driver for the market.Gourmet salts are expensive compared to the conventional salt and lack awareness in the developing countries, which is the major constraint for the market.Global increase in gourmet restaurants was witnessed during the past 5 years. The food and culinary shows aired on major TV channels increased the popularity for the same, amid the public. Gourmet salts due to their very high preserver characteristics are finding their application in meat & seafood processing industry. Unexploited market in the developing countries created a major prospect for prolific investing in the region.Sale grosso, flakey salt, table salt, specialty salts and unrefined salts are some of the major gourmet salt varieties available in the market. Table salt occupies 34% of the market share due to its broad domestic usage globally. However, specialty salts like flavored salts and fluer de sel for their ability to feature enhanced flavor are used comprehensively by professional chefs and are expected to grow with highest CAGR of 7.2% during the next 5 years. Other salts like Hiwakai and sale marino are used in customary cuisines due to their distinctive aroma.Gourmet salts find their solicitation in bakery, confectionary, meat & poultry, seafood, sauces and savories industries. Seafood industry and meat sector together guzzle over 60% of the gourmet salt share due to their augmented seasoning abilities. During 2014, Europe was the major market with 31% share followed by North America with 27% due to the higher recognition of natural salts in the western populations. Asia-Pacific region is still nascent in the sector with untapped market in the region due to lack of cognizance. North America due to its increasing number of gourmet restaurants and higher domestic intake is expected to grow at a faster pace of 7.2% during the forecasted period.Cargill, Incorporated, Saltworks, Inc., San Francisco Salt Company & San Francisco Bath Salt Company, Devonshire Gourmet Salts and Morton Salt, Inc. are some of the major players in the sector.Though a very high business rivalry existed in the sector due to limited players in the race for supremacy, new entrants haven't backed off due to high profit margins of the market. Major players have engaged in far-reaching scientific research in order to identify better and economically feasible ingredients with wider function range. With numerous mergers & acquisitions and new entrants into the sector, global gourmet salt market is expected to grow considerably during the next 5 years.In this report we offer,

Market Definition for the specified topic along with identification of key drivers and restraints for the market.

Market analysis for the Global gourmet salt market, with region specific assessments and competition analysis on a global and regional scale.

Identification of factors instrumental in changing the market scenarios, rising opportunities and global consumer trends.

Extensively researched competitive landscape section with profiles of major companies along with their share of markets.

Identification and analysis of the Macro and Micro factors that affect the Global gourmet salt market on both global and regional scale.

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

Why should you buy this report?

For getting a comprehensive overview of the Global gourmet salt market.

To gain wide-ranging information about the major players in this industry and the strategies adopted by them.

To gain an insight about the major countries/regions in which this industry is blooming and also identify the regions, which are untapped.

 

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