Global Sea Salt Market - Forecast(2023 - 2028)

Global Sea Salt Market Overview

The Global Sea Salt Market size is estimated to reach $13.2 billion by 2027. Furthermore, it is poised to grow at a CAGR of 6.5% over the forecast period of 2022-2027. Salt which is produced from the evaporation of seawater is generally labelled as sea salt. The evaporation is accomplished by open-air solar evaporation or via quicker vacuum evaporation, the sites for the same are often regarded as brine pits. The following form of salts are also known as bay salt or solar salt or kosher salts. Sea salt contains an extra proportion of minerals such as calcium, chloride, or potassium sulphate, but still has around 90% or more sodium chloride. Sea salt has been gaining immense market traction from various end-user industries such as food and beverages along with cosmetics. Sea salt has demonstrated various aspects of anti-inflammatory properties making it a prime ingredient to be used in various forms of body scrubs (exfoliating agent) or as a substitute of table salts within protein bars. The beneficial aspects or the nutritional values of sea salt along with its ability as de-icing agent amongst many others has allowed the overall Global Sea Salt industry to be positioned favorably in the projected period of 2022-2027.

Global Sea Salt Market Report Coverage

The report: “Global Sea Salt Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Global Sea Salt Market.

By Type: Refined and Un-Refined.

By Application: Regenerating Water Agent, De-Icing Agent, Detoxifying Agent, and Anti-Oxidant Agent.  

By Packaging: Bags or Pouches, Drums and Sacks, Shakers, and Glass Jars.

By End-Use: B2B (= Food Industry, Agriculture, Cosmetics, Animal Feed, and Others) and B2C.

By Distribution Channel: Offline Stores and Online Stores.

By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways

• Geographically, Asia-Pacific’s Sea salt market held a dominant market share in the year 2021. It is owing to a widespread consumption of the said salt form supplemented by the presence of various small and medium manufacturers easing the overall production process and facilitating easy access of such forms of salt for various purposes, such as for various manufacturing and retail purposes.
• The presence of beneficial nutrient profile as compared to table salt which facilitates in regulating types of cardiovascular worries along with its property to help in various forms of life challenges such as icing issues in heavy snow driven areas are the identified driver for the market. However, high cost compared to table salt impedes the overall market growth.
• A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Global Sea Salt Market Report.

  Global Sea Salt Market- End Use (%) for 2021.

  
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Global Sea Salt Market Segment Analysis- By End-Use

The global sea salt market based on end-use can be further segmented into B2B (Food Industry, Agriculture, Cosmetics, Animal Feed, and Others) and B2C. B2B held a dominant market share in the year 2021. B2B’s massive share is owing to its extreme usage in food industry as a functional ingredient and has been advertised as a healthy and lowly processed form of salt. As per various testimonials it can be gauged various product innovations have been under the sphere of sea salts owing to its nutritional offerings. Moreover, tablet salt and sea salt are not much different in their taste, and as per a study published by Cambridge University Press over a group of British Consumers. It revealed that consumers who belonged to the group of aware and actionable liked soups and other products made from sea salts than table salts and observed no taste differential. Furthermore, B2B segment is estimated to be the fastest-growing, with a CAGR of 7.2% over the forecast period of 2022-2027. Sea salt has provided various evidence which reveals that they can act as a great skin care product owing to its anti-inflammatory properties which proves to be beneficial for sufferers of acne, psoriasis, eczema, and others. As per America Academy of Dermatology Association, around 50 million Americans suffer from acne annually. With growing aspects of green and natural beauty, the market for sea salt is positioned favorably.

Global Sea Salt Market Segment Analysis- By Distribution Channel

The global sea salt market based on distribution channel can be further segmented into offline retail and online retail. Online retail held a dominant market share in the year 2021. Online retail channels picked up during the year owing to pandemic. People have started to adopt to the new normal, where activities such as work from home and college from home have become prevalent. Additionally, recent surveys from Chicory Third Annual Grocery Usership revealed that digital platforms are being preferred more than offline stores. As per the participants of survey, around 72% purchases basic groceries items online in the last 90 days, while around 52% said that they have placed grocery order online at least once every week. Furthermore, online retail is estimated to be the fastest-growing, with a CAGR of 7.4% over the forecast period of 2022-2027. Convenience was ticked by maximum respondents, while around 46% of respondents cited that convenience or time constraints as their primary motivation for ordering online, and only around 10% governing that reason for online purchases is a resultant of healthy worries. Moreover, CEO of Chicory feels that digital grocery shopping is here to stay, and consumers would continue to prioritize their convenience over everything else. Owing to these trends, the sea salt sales would grow exponentially through these channels.

Global Sea Salt Market Segment Analysis- By Geography

The global sea salt market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. Asia-Pacific held a dominant market share of 39% in the year 2021. It is primarily owing to extreme demand from countries such as China and India. China has been attributed as a leader for intake of basic salt, and as per research from Queen Mary University of London, average adult in China consumes more than 10 grams of salt a day, which is more than twice for the recommended limit. Moreover, Journal of American Heart Association have listed those Chinese children between the age of 3-6 are eating the maximum amounts of salt as recommended by WHO. However, North America is estimated to offer lucrative growth opportunities over the forecast period of 2022-2027. It is owing to exponential launches seen within the food categories utilizing sea salt instead of processed salts. Trends such as salts lead to problems such as hypertension, have made people conscious about labels. Hence, product marketers are using brand advertisements such as “healthy salt without any health ramification” and packages have highlighted the usage of sea salt and have listed its medicinal benefits. The following strategies will allow greater incorporation of sea salts in food and beverages along with cosmetic industry. Additionally, North American consumers are highly inclined towards vegan beauty, which the usage of sea salt can greatly satisfy.

Global Sea Salt Market Drivers

The nutritional properties of sea salt allow it to get used for various health beneficial aspects-which has been driving the market.

The multi-applicative use of sea salt has allowed the market to grow at an optimal pace.

Sea salt has been regarded as the cheapest agent for de-icing purpose. Further, sea salt has been considered as one of the most environmentally friendly and natural salts which exist for this purpose. The occurrences of snow have been rampant and troubling in the study period and will be extremely cruel in the times to come owing to climate change. As per Scientific reports, owing to climate change the frequency and character of precipitation changes which intensifies the hydrological cycle. Additionally, global warming adds on to the humidity which enables intense snowfall in regions which are actually more prone to such conditions. For example, around 48 U.S. states had their 73.2% landmass covered in snow during the first half of 2021, which has been a record high coverage, and weather departments now comments that such anomalies would become more prevalent in times to come. Furthermore, such storms turn into economic burden for countries. As per AON report, within the first half of 2021- the reported losses owing to snowstorms were close to $15.1 billion, however the non-insured costs are estimated to be 1.5x to 2x. Additionally, owing to concerns pertaining to sustainability and ecological concern, private road snow-clearing agencies have started to adopt sea salt as the de-icing agent. Owing to such multi-applicative use, the sea salt is positioned favorably.

Global Sea Salt Market Challenges

High cost in comparison with table salt impedes the overall market growth.

The overall cost differential is immense when both forms of consumable salts are compared. For example, a Tata Tea Salt within the Indian origins can cost close to INR 23 to INR 25. However, if an analysis is done to understand the price offerings for sea salt-the costs are around 6x more. For example, a brand known as Keya offers their Arabia Sea Salt at a price offering for INR 290 for a kg. Moreover, the costs offering within the Indian market is exponentially different for various brands-which raises a serious concern about the originality of the said form of sea salts. As per various marketing manager testimonials and under medical institutes, for all the sea salt advertised in “white colour” form have an exponential chance of being counterfeit. Owing to these reasons, the market’s growth is impeded.

Global Sea Salt Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the market. Global Sea Salt top 10 companies include

1. Amato Food Products
2. INFOSA
3. Qinghai Salt Lake Industry
4. Morton Salt
5. Westlab Limited
6. Clearspring
7. BRITISH SALT
8. Compass Minerals UK
9. Peacock
10. INEOS Enterprises

Recent Developments

• In February 2022, GATSBY announced the launch of its game-changing line of peanut butter cups and an additional flavor to its existing chocolate bar product line -> Sea Salt Extra Dark Bar. The brand has revamped its packaging and dwells the chocolate lovers to rejoice the keto-friendly bar with only ¼ of sugar and less than ½ of calories for what is offered by the other premium chocolate bars. The product is third in life after company’s classic milk chocolate style and almond dark chocolate style.
• In February 2022, CHOCXO, a chocolate-based brand made with simple ingredients such as high in cacao and low in processed sugar have expanded its Canadian presence across retail grocery stores in Quebec. The following CHOCXO products will be available in-store at Loblaws and Satau and will feature the brand's new packaging: the Coconut, Almond, and Sea Salt Snaps, the Raspberry Quinoa Snaps, Dark Chocolate Covered Almonds, Dark Chocolate Almond Butter Cups, and CHOCXO newest Dark Chocolate Peanut Butter Cups and Coconut Almond Butter Cups. 
• In February 2022, Planting Hope expands its distribution of MOZAICS ™ Real Veggies Chips into KEHE. KEHE has been regarded as one of the largest and most reputable grocery and natural food and beverage distributor within the North American region, serving just over 30,000 retailers. Through the following cooperation, MOZAIC would be able to make its non-GMO flavored chips such as Sea Salt, BBQ, and Salsa to reach multiple store lines.

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