by The global Mineral Salt Ingredients Market is estimated to be valued at US$ 10.56 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Mineral salt ingredients are minerals naturally occurring in the human body which are essential for various physiological functions. Some key mineral salt ingredients included are calcium, magnesium, sodium, potassium, chloride and others. They are important components in a balanced diet and are commonly used in various food & beverage products to enhance nutritional value, texture and shelf life. The mineral salt ingredients market has been growing owing to rising awareness about importance of essential minerals and growing demand for processed and convenience food products fortified with minerals.
Market key trends:
One of the major trends in the mineral salt ingredients market is the increasing demand for clean label and organic ingredients. Consumers are increasingly preferring food products with understandable ingredient lists and without artificial preservatives, colors or flavors. This has driven many companies to offer mineral salt ingredients sourced from natural sources and certified organic. Another important trend is the development of multi-mineral complexes. Traditional mineral salt ingredients offer single minerals but companies are developing premixes containing balanced ratios of various minerals for enhanced nutrition. Companies are also innovating newer application areas for mineral salt ingredients beyond traditional uses in food & beverages. For instance, minerals are increasingly used as functional ingredients in dietary supplements, sport nutrition, personal care and animal feed due to their various health benefits. Stringent food safety regulations in various regions have also triggered adoption of purified and standardized mineral salt ingredients for uniform nutrition and processing benefits.
Market Overview:
The global Mineral Salt Ingredients Market has been growing at a steady pace over the past few years. Mineral salt ingredients contains essential macro and trace minerals that play important roles in various metabolic processes in the human body. Some of the key
Porter’s Analysis
Threat of new entrants: Low barriers to entry due to availability of raw materials but established players have scale and supply chain advantages.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute ingredients but demand for cleaner label ingredients provides pricing power to suppliers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to established supply chains for few key minerals like salt but commoditization of other minerals limits pricing flexibility.
Threat of new substitutes: Threat of substitutes is moderate as companies invest in innovation for minerals with specific functionalities but easy availability of alternate minerals poses substitution risk.
Competitive rivalry: Intense competition among key global players to expand market share through new product development and acquisitions.
Key Takeaways
The global Mineral Salt Ingredients Market Size is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing demand for clean label and functionally rich food ingredients.
North America dominates the global market due to growing demand for convenience and processed food items. Europe is the second largest market driven by demand for naturally sourced ingredients. Asia Pacific is expected to be the fastest growing market led by increasing health consciousness.
Key players operating in the Mineral Salt Ingredients market are Corbion, Minerals Technologies Inc., Compass Minerals International Inc., Albion Laboratories, Inc., Paul Lohmann GmbH KG, K+S Aktiengesellschaft, Gadot Biochemical Industries Ltd., Arla Foods amba, DuPont, Jungbunzlauer Suisse AG, SEPPIC, and Koninklijke DSM N.V. Key players are focused on new product development and acquisition strategies to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
