Published on : Dec 14, 2016
The global kosher salt market is primarily led by the increasing need for kosher salt in comparison to common salt because of its high surface areas and open granular structure. Revenue wise, the global kosher salt market stood at US$832.3 mn in 2015 end and is predicted to touch US$1517.2 mn by 2024 end, rising at a 7.0% CAGR between 2016 and 2024. In terms of volume, the market is predicted to rise at a 3.70% CAGR from 2016 to 2024. The increasing awareness amongst consumers from both developing and developed nations due to the increasing benefits of kosher salts will also augment the market for kosher salt. On the other hand, the market is restrained owing to the meagre usage of this salt in areas which are iodine deficient.
Increasing Demand from Food and Beverages Sector to fuel Demand for Kosher Salt Crystals
In terms of product type, kosher salt crystals market is segmented into smoked kosher salt, kosher salt flakes, and kosher salt crystals. Of these, the segment of kosher salt crystals has emerged as the top segment. This is owing to the increasing demand for kosher salt crystals from the industry of food and beverages. These crystals are being extensively employed by restaurants because of the unique nature of these salts in imparting a seasoning to different kinds of meats without imparting a very salty taste to them. This is why kosher salts are being employed by various chefs globally for seasoning their meats.
High Health Benefits of Kosher Salts to Have a Positive Impact on Market Growth in North America
In terms of regions, the North America kosher salts market is the top market and held the maximum share on the basis of consumption and production. This region is predicted to maintain its superiority over the forecast period due to flourishing food and beverage sector in this region. In addition, the growing awareness of consumers on the health benefits of kosher salts in comparison with processed salts will also increase the demand for these salts in the U.S., thus fuelling the growth of the market in North America.
Morton Salt, Inc. (Chicago, U.S.), Redmont, Inc. (Utah, U.S.), San Francisco Slat Company (San Leandro, U.S.), Qingdao Huifenghe Msg Co., Ltd. (Shandong, China), and Cargill, Inc. (Minnesota, Ireland), among others, are the key players in the global kosher salt market.