Table Salt Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Iodized, Non-iodized), By Distribution Channel (Online, Offline), By End-User (Residential, Commercial), And By Geography - Forecasts From 2023 To 2028
- Published : Jun 2023
- Report Code : KSI061613776
- Pages : 140
The table salt market is expected to grow at a CAGR of 5.30% from an initial value of US$7.454 billion in 2021 and is estimated to reach a market size of US$10.698 billion by 2028.
The market is expected to grow at a considerable rate throughout the forecast period due to various favorable developments ongoing in the market. The global market for table salt is expected to be driven heavily owing to its wide use in various geographies in households as well as restaurants, hotels and cafes.
The market is expected to be boosted by various expansion projects by players in the food and beverage industry, as table salt finds significant application at these locations.
For instance, in August 2022, Taco Bell announced a pan-India investment of USD 100 million in order to expand its number of outlets in the country. The company had a total of 100 outlets in India as of August 2022 and aimed to increase that number to 600 outlets in the years to come with this investment. Such expansion projects by players dealing with processed foods are expected to drive the demand for table salt as well.
The market growth is anticipated to be restrained by the ill effects of sodium.
According to WHO, salt is the most common source of sodium and a rise in sodium intake can lead to increased chances of cardiac ailments and increased blood pressure. As a result, governments around the world have also taken actions of caution regarding the effects of sodium. For instance, the government of Mexico, under the NOM-051, made it mandatory to display a warning on the packaging of products that had more than 350mg of sodium for every 100 grams of the product, beginning in October 2020. Thus, increasing awareness regarding the downside of high sodium intake can make people minimize table salt consumption, thereby, constraining the market growth.
Product Launches
- A table salt created by Mitsui and produced in partnership with Ako Kasei was released by Mitsui & Co., Ltd. in September 2021. The eco-friendly solar marine salt used in "THE SHARK BAY SALT" was created by Shark Bay Salt Pty Ltd, a fully owned subsidiary of Mitsui. Development and launch of new products in the market are thus projected to hold it in good stead.
- In March 2020, PhytoCo launched a new table salt in Korea which was microplastic-free and composed of low sodium content. This salt was developed as a plant-based product in order to widen its audience and cater to the vegan population as well.
- In March 2022, Smart Salt Retail Ltd launched a novel table salt product under its Suolo range of sea salt seasonings with 50% less sodium content in its formulation. Increased sodium intake is harmful to health and thus, with such product launches with low sodium, the market is expected to undergo considerable growth.
- In October 2022, Nutritional International, the Bill and Melinda Gates Foundation and the Government of Ethiopia entered into a 3-year collaborative project in order to develop a table salt which is double fortified with contents like iodine and folic acid. This was done in order to mitigate the cases of NTDs (Neutral Tube Defects) in the country with this innovative formulation.
Based on the distribution channel, the table salt market is divided into online and offline distribution channels. Online distribution channels are fueled by the growing e-commerce activities and online shopping preferences in the post-pandemic world. The shift in grocery shopping habits due to the pandemic and the convenient delivery system shall contribute to the growth of the table salt market on online distribution channels. However, offline channels are dominating the market landscape. Offline distribution channels for purchasing table salt are retail outlets, grocery superstores, middlemen dealer agencies for commercial purchase, and other direct distribution networks. The presence of a strong sales and distribution network assists in boosting the sales volume and operating profits of a company. For instance, consider Tata Consumer Products Company which holds the leading market position in table salt production in India. The retail outlets' reach of Tata Consumer Products for its packaged salt products increased from 20 lakhs in 2018 to 38 lakhs in 2021.
By geography, the population in the North American region is moving towards a transformed dietary pattern, resulting in the demand for an increase in the production of more processed food. Table salt is a basic household staple that is widely used for cooking and seasoning in North American cuisine. As a result, the demand for table salt is relatively constant and consistent. Moreover, the presence of a growing trend towards healthy eating and natural ingredients has also contributed to the growth of the table salt market in the North American region with rapid urbanization and changing lifestyles.
Table Salt Market Scope:
Report Metric | Details |
Market Size Value in 2021 | US$7.454 billion |
Market Size Value in 2028 | US$10.698 billion |
Growth Rate | CAGR of 5.30% from 2021 to 2028 |
Base Year | 2021 |
Forecast Period | 2023 – 2028 |
Forecast Unit (Value) | USD Billion |
Segments Covered | Type, Distribution Channel, End-User, and Geography |
Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies Covered | Tata Chemicals Ltd, Compass Minerals, DS Group, K+S Aktiengesellschaft, Morton Salt Inc, Sudwestduetsche Salwerke, United Salt Corporation, British Salt |
Customization Scope | Free report customization with purchase |
Market Segmentation:
- By Type
- Iodized
- Non-iodized
- By Distribution Channel
- Online
- Offline
- By End-User
- Residential
- Commercial
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Austria
- Belgium
- Bulgaria
- Czech Republic
- Denmark
- Finland
- France
- Germany
- Hungary
- Ireland
- Italy
- Netherlands
- Poland
- Portugal
- Slovenia
- Spain
- Sweden
- UK
- Middle East and Africa
- Saudi Arabia
- Israel
- UAE
- Ethiopia
- Turkey
- Morocco
- Egypt
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- Philippines
- Australia
- Others
- North America
Frequently Asked Questions (FAQs)
The table salt market is estimated to reach a market size of US$10.698 billion by 2028.
Table Salt Market was valued at US$7.454 billion in 2021.
The global table salt market is expected to grow at a CAGR of 5.30% over the forecast period.
The table salt market is expected to be driven heavily owing to its wide use in various geographies in households as well as restaurants, hotels and cafes.
The global table salt market has been segmented by type, distribution channel, end-user, and geography.
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Force Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. TABLE SALT MARKET ANALYSIS, BY PRODUCT TYPE
5.1. Introduction
5.2. Iodized
5.3. Non-iodized
6. TABLE SALT MARKET ANALYSIS, BY DISTRIBUTION CHANNEL
6.1. Introduction
6.2. Online
6.3. Offline
7. TABLE SALT MARKET ANALYSIS, BY END-USER
7.1. Introduction
7.2. Residential
7.3. Commercial
8. TABLE SALT MARKET ANALYSIS, BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. North America Table Salt Market by Type
8.2.2. North America Table Salt Market by Distribution Channel
8.2.3. North America Table Salt Market by End-User
8.2.4. North America Table Salt Market by Country
8.2.4.1. United States
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America
8.3.1. South America Table Salt Market by Type
8.3.2. South America Table Salt Market by Distribution Channel
8.3.3. South America Table Salt Market by End-User
8.3.4. South America Table Salt Market by Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Colombia
8.3.4.4. Venezuela
8.3.4.5. Ecuador
8.3.4.6. Peru
8.4. Europe
8.4.1. Europe Table Salt Market by Type
8.4.2. Europe Table Salt Market by Distribution Channel
8.4.3. Europe Table Salt Market by End-User
8.4.4. Europe Table Salt Market by Country
8.4.4.1. Austria
8.4.4.2. Belgium
8.4.4.3. Bulgaria
8.4.4.4. Czech Republic
8.4.4.5. Denmark
8.4.4.6. Finland
8.4.4.7. France
8.4.4.8. Germany
8.4.4.9. Hungary
8.4.4.10. Ireland
8.4.4.11. Italy
8.4.4.12. Netherlands
8.4.4.13. Poland
8.4.4.14. Portugal
8.4.4.15. Slovenia
8.4.4.16. Spain
8.4.4.17. Sweden
8.4.4.18. UK
8.5. Middle East and Africa
8.5.1. Middle East and Africa Table Salt Market by Product Type
8.5.2. Middle East and Africa Table Salt Market by Distribution Channel
8.5.3. Middle East and Africa Table Salt Market by End-User
8.5.4. Middle East and Africa Table Salt Market by Country
8.5.4.1. Saudi Arabia
8.5.4.2. Israel
8.5.4.3. UAE
8.5.4.4. Ethiopia
8.5.4.5. Turkey
8.5.4.6. Morocco
8.5.4.7. Egypt
8.5.4.8. Others
8.6. Asia Pacific
8.6.1. Asia Pacific Table Salt Market by Product Type
8.6.2. Asia Pacific Table Salt Market by Distribution Channel
8.6.3. Asia Pacific Table Salt Market by End-User
8.6.4. Asia Pacific Table Salt Market by Country
8.6.4.1. China
8.6.4.2. Japan
8.6.4.3. South Korea
8.6.4.4. India
8.6.4.5. Indonesia
8.6.4.6. Philippines
8.6.4.7. Australia
8.6.4.8. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Tata Chemicals Ltd
10.2. Compass Minerals
10.3. DS Group
10.4. K+S Aktiengesellschaft
10.5. Morton Salt Inc
10.6. Sudwestduetsche Salwerke
10.7. United Salt Corporation
10.8. British Salt
Tata Chemicals Ltd
Compass Minerals
DS Group
K+S Aktiengesellschaft
Sudwestduetsche Salwerke
United Salt Corporation
British Salt
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