ID: MRFR/F-B & N/9274-HCR | 90 Pages | Published By Snehal Singh on March 2023
Gourmet Salt Market Size was recorded at USD 0.4 billion in 2022. The Gourmet Salt market industry is projected to grow from USD 0.42 Billion in 2023 to USD 0.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.17% during the forecast period (2023 - 2030). Increasing availability of flavors, myriads of crystals, and colors are some of the key market drivers fueling the growth of this market.
Source: MRFR Database, Secondary Research, Primary Research, and Analyst Review
Gourmet Salt Market Trends
The food service industry is emerging because of rising generalizations. As per the USDA (United States Department of Agriculture), fast-service restaurants had a decline of approx. 16.9% in 2021, owing to the crisis. Thus, companies in the food industry are mainly focusing on bringing out healthy food and beverages, which will increase the demand for healthy ingredients. Gourmet salt is regarded as one of the healthiest salts; this is because of the fact that it reduces the chances of several diseases and increases the consumer demand for this salt. With increasing awareness, consumers' tastes and preferences for food are also changing.
Moreover, globalization and the strong impact of western cultures in different countries are fueling the demand for foreign cuisines, such as French, Italian, and Chinese food, which need special flavor salts. At the same time, the call for salt is also increasing. Gourmet salts are being treated as vital ingredients for all types of cuisines, especially in grandeur restaurants, as all the types of gourmet salts have their own specific function that provides a particular taste and texture to the food. Thus, it is the rising food services all over the world.
Additionally, the culture has generated a demand for traditional cuisines in metros, which promoted the increased application of gourmet salts. This is owing to its particular taste can incorporate a ting of traditional flavor and tang in foods. These salts have gained popularity among professional chefs, too, in luxury hotels. The rise in the number of gourmet restaurants worldwide is positively impacting the market CAGR and gourmet salt market revenues across the world in recent years.
Gourmet Salt Market Segment Insights
Gourmet Salt Product Type Insights
The gourmet salt market segmentation, based on product type, includes Himalayan salt, fleur de sel, sel gris, smoked & Roasted salt, flavored salt, and others. The Himalayan salt segment held the majority share in 2022 with respect to the gourmet salt market revenue. This is owing to the delicate use of Himalayan salt, together with direct consumption and cooking. It is present in stranded form and coarse grains form, which further puts its overall popularity.
However, Sel Gris, an all-rounder salt, is expected to show healthy demand during the study period because of its high nutrient and mineral content. The rising demand for premium products is projected to fuel the growth of this segment in the forthcoming years.
May 2019: 24K Salt Company made an announcement to introduce a range of gourmet and spiced salts at PLMA'S World Private Label Exposition in Amsterdam.
Gourmet Salt Category Insights
The gourmet salt market segmentation, based on category, includes refined and unrefined. The un-refined segment dominated the market in 2022 and is projected to be the faster-growing segment during the study period, 2022-2030. This is because this salt is sourced from seawater and sold as unrefined. It involves very less or no chemical treatment, thereby leaving behind the natural minerals found in seawater. This type of salt offers a unique flavor and taste to the end product, which is mainly fetching the market growth of the un-refined segment across the world.
Figure 1: Gourmet Salt Market, by Category, 2022 & 2030 (USD Billion)
Source: MRFR Database, Secondary Research, Primary Research, and Analyst Review
Gourmet Salt Claim Insights
The gourmet salt market data has been bifurcated into organic, sodium-free/low sodium, and conventional. The organic segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Rising concerns for food safety among consumers are mainly fetching the organic segment globally. This salt is harvested from clean and pure salt beds and follows the proper production method by organic packaging. Though organic certification for salt does not use the same procedures as for botanicals, agriculture, or livestock. However, there are few organizations that have rigorous guidelines for the production of gourmet salt in their respective countries.
October 2017: Oregon Company launched a new gourmet salt on Kickstarter in Portland made up of Himalayan pink salt and crickets to expand their dish enhancer products. This approval has further widened the growth opportunity for the Gourmet Salt industry.
Gourmet Salt Application Insights
Based on application, the gourmet salt industry has been segmented into bakery and confectionery, meat, poultry and seafood, soups, sauces & savory, and others. Meat poultry and seafood held the largest share in 2022, due to the variety of roles in meat processing such as contribution to desirable flavor, preservation, texture, and shelf-life of the meat product. Rising meat consumption in different regions is adding to the revenues of gourmet salt globally.
Another fastest-growing segment in the gourmet salt industry is the bakery & confectionery category, which is anticipated to rule the market. These salts do well while baking or grilling meat, poultry, shellfish, eggs, and vegetables. Gourmet salts are utilized in confectionery in a range of cakes and sweets since they are available in such a wide range of flavors.
Gourmet Salt Regional Insights
By region, the study states the market insights into North America, Asia-Pacific, Europe, and the Rest of the World. Europe’s gourmet salt market accounted for USD 0.4 billion in 2022 and is expected to exhibit a significant CAGR growth during the forecast period. This is owing to increasing awareness of the health benefits of gourmet salt like Himalayan salt, which contains less sodium than ordinary table salt.
Furthermore, the major countries studied in the market report are The U.S., Canada, France, Germany, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GOURMET SALT MARKET SHARE BY REGION 2022 (%)\
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
North America’s gourmet salt market accounts for the second-largest market share due to rising innovative edible items followed by distinct tastes relayed by gourmet salt in many delicacies are boosting the growth of the regional gourmet salt market. Further, the U.S. gourmet salt market held the largest market share, and the Canadian gourmet salt market was the fastest-growing market in the European region.
The Asia-Pacific Gourmet Salt Market is anticipated to rise at the fastest CAGR during the forecast period. This is to owe to uplifting living standards, emerging economies, surging demand for processed food, and health awareness behavior paired with evolution in food and beverage industries. Moreover, the China Gourmet Salt market held the fastest-growing market, and the India Gourmet Salt market was the largest market share in the region.
Gourmet Salt Key Market Players & Competitive Insights
Major market players are making investments in research and development to grow their product lines, which will assist the gourmet salt market to rise even more. Competitors are also taking a variety of strategic initiatives to increase their footprint, with key market developments such as new product launching, contract-based agreements, mergers and acquisitions, increasing investments, and collaboration with other organizations. Participants in the gourmet salt industry must provide low-cost items to expand and pull through a highly competitive market.
One of the prime business strategies adopted by producers in the gourmet salt industry to satisfy clients and expand the market sector is to produce narrowly to lower operating costs. In recent years, the gourmet salt industry has given rise to some of the most significant benefits. The major market players in the gourmet Salt market such as Morton Salt Inc. (US), Saltworks Inc. (US), Cargill Inc. (US), Murray River Gourmet Salt (Australia), and others, are working to expand the market demand by investing in R&D activities.
Morton Salt Inc. is an American company founded in 1848, manufacturing salt products for consumers, industrial, and government customers. It offers products such as pantry salts, water softening, and ice-melting salt, as well as food manufacturing, pharmaceutical, and agriculture salts, enabling consumers to give flavors to their food.
Murray River Salt was founded in 2000 by Duncan and Jan, producing Australia's only naturally Pink salt, superior quality gourmet salt flakes utilizing the brine from the Mourquong Salt Mitigation Basin, located 13 kilometers northwest of Mildura in New South Wales.
Key Companies in the Gourmet Salt market include
Gourmet Salt Industry Developments
January 2021: Cargill Salt introduced a new purified sea salt flour. The ingredient is a distinct type of ultra-fine cut, powder-like sodium chloride. It is best suited for applications that require extremely fine sizing for blending, as well as dry soup, cereal, flour, and spice mixes, and for topping snack foods.
April 2020: SaltWorks made an announcement about the adoption of sophisticated new B2B e-commerce tools to provide a better customer experience and fuel sales growth. Developed in partnership with B2B e-commerce innovator OroCommerce, the new platform gives SaltWorks the robust, flexible sales infrastructure required to meet its customers' diverse needs at scale.
September 2019: Morton Salt increased its product line by adding a colorful new product with the launch of All-Natural Himalayan Pink Salt. It comes in both fine and coarse grain sizes.
Gourmet Salt Market Segmentation
Gourmet Salt Product Type Outlook
Gourmet Salt Category Outlook
Gourmet Salt Claim Outlook
Gourmet Salt Application Outlook
Gourmet Salt Regional Outlook
|Market Size 2022||USD 0.4 billion|
|Market Size 2023||USD 0.42 billion|
|Market Size 2030||USD 0.6 billion|
|Compound Annual Growth Rate (CAGR)||6.17% (2023-2030)|
|Market Forecast Period||2023-2030|
|Historical Data||2019 – 2021|
|Market Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Growth Factors, Market Competitive Landscape, and Trends|
|Segments Covered||Product Type, Category, Claim, and Application|
|Geographies Covered||North America, Europe, Asia Pacific, and the Rest of the World|
|Countries Covered||The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil|
|Key Companies Profiled||Morton Salt Inc. (US), Saltworks Inc. (US), Cargill Inc. (US), Murray River Gourmet Salt (Australia)|
|Key Market Opportunities||Online Food Delivery Service Celebrity Chef Endorsement & Cooking Shows|
|Key Market Dynamics||Increasing popularity of Multi-Cuisine Dishes Rising Foodservice Industry|
The Gourmet Salt market size was valued at USD 0.4 Billion in 2022.
The market is projected to grow at a CAGR of 6.17% during the forecast period.
Europe had the largest share of the market.
The key players in the market are Morton Salt Inc. (US), Saltworks Inc. (US), Cargill Inc. (US), and Murray River Gourmet Salt (Australia).
The Himalayan salt category dominated the market in 2022.
The unrefined category had the largest share of the market.