Fortified Salts Market: Introduction
Iron Deficiency Anemia (IDA) and Iodine Deficiency Disorder (IDD) contributes for the micronutrient deficiencies of public health significance across the globe, prominently in the developing and under-developed economies. Salt is an ideal carrier for micronutrient fortification and micronutrients like iodine and iron can be introduced through salt, which ingested by an individual provides numerous nutritional benefits, this micronutrient added salt is called as fortified salt.
Fortified Salts Market: Dynamics
The main driving factor for the global fortified salts market is growing consumer preference for nutritional diet coupled with persistently mounting malnutrition cases among the children and adults have resulted in increased demand for fortified salts across all major developing economies.
The prime factor such as rising incidence of anemia due to iron deficiency is further augmenting the sales for fortified salts. The significant increase in sales of fortified salts due to the growing demand for food preservation owing to increased consumption of processed and packaged food is highly anticipated to drive the global fortified salts market.
Moreover, rising prevalence of goiter and anemia in South Asia and MEA undeveloped countries and government initiative to promote fortified salts is anticipated to create a significant opportunity for the global fortified salts market. Additionally, the superior nutritional characteristics of fortified salts which helps fight, gestational hypertension and neurological disorders are highly anticipated to propel the demand for fortified salts.
As fortified salts are widely used for food preparation and from food processing to food preservation, fortified salts is gaining huge recognition in hospitality & services industry across all regions. All the above mentioned major influencing features are highly anticipated to drive the global fortified salts market over the forecast period. The key restraining factor such as health threats including tuberculosis and kidney ailments, and thyroid papillary cancer due to overconsumption may hinder the global fortified salts market growth over the forecast period.
Fortified Salts Market: Regional Outlook
Based on geographies, the global fortified salts market is segmented into seven regions including North America, Europe, MEA, East Asia (Japan, China, South Korea), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, Rest), Oceania (Australia, New Zealand) and Latin America. Among the above-mentioned countries, South Asia is estimated to account for a significant market share due to rise in the population in countries such as India, Indonesia, and Rest of South Asia. MEA is anticipated to witness a high growth in the global fortified salts market owing to the rise in cases of goiter and anemia in the region.
Moreover, North America and Europe is projected to showcase steady growth in the global fortified salts market over the forecast period. Latin America is one of the key emerging regions that will generate commendable opportunity in the global fortified salts market over the forecast period due to the rise in health related disorders.
Fortified Salts Market: Prominent players
Prominent players for the global fortified salts market Cargill, AkzoNobel, Tata Chemicals, Compass Minerals, Ankur Salt, Sambhar Salt, China National Salt Industry Windsor Salt, United Salt Corporation, Kutch Brine Chem Industries, Ahir Salt Industry and Schweizer Salinen and other key market players. The fortified salts market consists of well-diversified global and regional players with the regional vendors ruling their respective region market.
Fortified Salts Market: Segmentation
The global fortified salts market is segmented on the basis of product, application, sales channel and region.
Based on the product, the global fortified salts market is segmented as:
- Double fortified
Based on the application, the global fortified salts market is segmented as:
- Hospitality & Service Industry
- Food Processing Industry
- Animal Feed
Based on the sales channel, the global fortified salts market is segmented as:
- Hypermarkets & supermarkets
- Grocery stores
- Online stores
Iodine fortified salt is anticipated to showcase remarkable growth rate during the forecast period due to its health beneficial factors such as, maintaining Basic Metabolic Rate (BMR) in humans for normal functioning of all organs. On the other hand, among application segment, the household segment is anticipated to see phenomenal market growth over the forecast period, attributed to increasing adoption of fortified salt for cooking purpose.
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