Fortified Salts Market CAGR Value 2023, Dynamics, Oncoming Demands, Industry Share & Forecast by 2030
- March 24, 2023
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The global Fortified Salts market, which was estimated at about 4.3 (USD Billion) in 2019 and is predicted to accrue earnings worth 7.5(USD Billion) by 2025, is set to record a CAGR of nearly over 8.2% during 2019-2025. The report offers valuation and analysis of Fortified Salts market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).
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Fortified Salts Market: Overview
Based on the clinical trials carried out by NIH researchers, fortified salts with iodine and iron has proved to be a cost-effective solution for low and middle income group population across the emerging economies. Reportedly, Positive effects of these fortified salts were found in women and school children. Moreover, the salts fortified with iron and iodine helped in reducing anemia risk and increased hemoglobin concentration in school children and pregnant women in the emerging economies.
Fortified Salts Market: Growth Dynamics
Massive consumer inclination towards nutritive food along with rising cases of malnutrition witnessed among the adults as well as children across the emerging economies will create lucrative growth avenues for fortified salts industry over the assessment timeline. Apart from this, surge in the cases of anemia as a result of iron deficiency is likely to drive the market growth trends. With large-scale sale of fortified salts owing to humungous need for preserving food is anticipated to favorably impact the intake of packaged & processed food, thereby steering the expansion of fortified salts industry over the assessment period.
Furthermore, rise in the occurrence of goiter in the under-developed nations of Africa and South Asia will create lucrative demand for fortified salts in the foreseeable future. In addition to this, exceptional nutrient features of the product assisting in combating gestational high blood pressure and neurological ailments will steer the expansion of fortified salts industry over the assessment period. Rise in the number of miscarriages as well as low mental growth witnessed in the children as a result of less intake of iron has resulted in induction of programs by the government in the emerging nations for promoting the consumption of fortified salts. Such positive moves will lucratively influence the expansion of fortified salts industry over the years ahead.
The global Fortified Salts Market is segmented as follows:
Global Fortified Salts Market: By Type Segment Analysis
Global Fortified Salts Market: By Application Segment Analysis
● Hospitality & Service
● Food Processing
● Household & Animal Feed
Asia Pacific Market To Expand Leaps & Bounds Over Forecast Timeframe
The expansion of fortified salts industry in Asia Pacific over the assessment period is due to growing demand for nutritive diet by surging geriatric populace with increasing lifespan. In addition to this, increase in the cases of anemia among the Asiatic population has created massive need for iron along with intake of high quality food. This, in turn, is anticipated to steer the expansion of fortified salts market over the projected timeline.
Fortified Salts Market Key Players
• Hindustan Salts
• Tamil Nadu Salt Corporation
• Bajaj Salt
• Shreeram Chemfood
• Tata Chemicals
• Cargill Salt
• Nirma Shudh
• Compass Minerals
• Ankur Salt
• China National Salt Industry
• Annapurna Salts
• Windsor Salts
• Sambhar Salts
• Kutch Brine Chem Industries
• United Salt Corporation
• Schweizer Salinen
• Ahir Salt Industries
• Saboo Sodium Chloro
• Super Salts
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