by Mineral salt ingredients such as calcium, magnesium, phosphorus and chloride play a vital role in various food products. They help improve the nutritional profile, aid digestion and improve texture, flavor and quality of products. The increasing consumption of ready-to-eat meals and packaged food has augmented the demand for mineral salt ingredients which help enhance shelf life and act as preservatives. Processed meat products, dairy items, baked goods and snacks widely use mineral salt ingredients to fulfill functionality needs.
The global Mineral Salt Ingredients Market is estimated to be valued at US$ 10.56 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Consumers are increasingly preferring food and beverage products with simple and recognizable ingredients list, without artificial preservatives and colors. This has prompted manufacturers to use mineral salt ingredients that are obtained from natural mineral deposits and seas. Another major trend is the wider exploration of mineral salts for novel applications in non-food industries such as pharmaceuticals, personal care and animal feed. Ongoing research also aims to develop mineral salt based formulations for targeted drug delivery, dietary supplements and nutritional therapies.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established customer base make it difficult for new players to enter.
Bargaining power of buyers: Large buyers have significant influence on pricing due to their high purchase volumes.
Bargaining power of suppliers: Major suppliers have strong global presence and control large market share giving them stronger position in negotiations.
Threat of new substitutes: Alternative ingredients pose threat but mineral salt ingredients have well-established application as preservatives making substitution difficult.
Competitive rivalry: High as the market is dominated by few global players. Players differentiate through specific mineral composition and application expertise.
Key Takeaways
The Global Mineral Salt Ingredients Market Size is expected to witness high growth. The global Mineral Salt Ingredients Market is estimated to be valued at US$ 10.56 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
Regional analysis
North America dominates the mineral salt ingredients market due to robust food processing industry and consumer demand for clean label and natural food ingredients in the region. Asia Pacific is expected to grow at fastest pace owing to rising health awareness and expansion of food manufacturing sector in China and India.
Key players
Key players operating in the mineral salt ingredients market are Corbion, Minerals Technologies Inc., Compass Minerals International Inc., Albion Laboratories, Inc., Paul Lohmann GmbH KG, K+S Aktiengesellschaft, Gadot Biochemical Industries Ltd., Arla Foods amba, DuPont, Jungbunzlauer Suisse AG, SEPPIC, and Koninklijke DSM N.V. Corbion and Minerals Technologies Inc. currently hold the largest market share.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
