NEW YORK, October 26, 2015 /PRNewswire/ --
According to the latest market report published by Persistence Market Research, titled "Global market Study on Gourmet Salts: Western Europe to Witness Highest Growth By 2025", the gourmet salts market is estimated to be valued at US$ 1,121.5 Mn by the end of 2015 and is anticipated to expand at a CAGR of 6.9% from 2015 to 2025, to account for US$ 2,194.8 Mn by 2025.
Gourmet salts are untreated, naturally harvested salts (generally sea salts) with low sodium content and no additives. These salts are used to add profligacy, flavor and dressing to the food product. Gourmet salts have the better solubility, exotic flavor, moisture and superior mineral content. Gourmet salts are gaining popularity because of increasing demand for gourmet foods.
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Currently, the gourmet salts market across the world is mainly driven by factors such as increasing health consciousness among consumers, product promotions through live cooking shows and the introduction of innovative products. However, factors such as high costs, low adoption of natural salts and limited product availability are expected to restrain the growth of the market. The global gourmet slats market is anticipated to expand at a CAGR of 6.9 % from 2015 to 2025, to account for US$ 2,194.8 Mn by 2025.
On the basis of product type, the gourmet salts market has been segmented into coarse salt, flake salts, fleur de sel, sel gris, Indian pink salt, Italian salts, smoked salts and others. The fleur de sel segment is expected to account for 20.0% share of the global gourmet salts market by 2015 end and is expected to register a moderate CAGR of 7.5% in terms of value over the forecast period (2015-2025). In terms of volume, the segment is expected to record a CAGR of 7.3% during the forecast period. Coarse salts segment is expected to account for 18.7% share and is expected to register a CAGR of 7.7% in terms of value and 6.8% in terms of volume over the forecast period.
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On the basis of application, the gourmet salts market is segmented into bakery and confectionery, meat and poultry, seafood, sauces and savory, and desserts and frozen food; among these, meat and poultry segment is expected to account for 30.2% share of the global gourmet salts market by 2015 end. The segment is expected to expand at CAGRs of 7.5% and 6.9% in terms of value and volume respectively during the forecast period. Increasing adoption of gourmet recipes at household levels is expected to drive the market growth during the forecast period.
The report provides detailed information about various trends driving each segment and offers analysis and insights about the potential of the gourmet salts market in specific regions. On the basis of region, the gourmet salts market is segmented into seven regions; among these, Western Europe is expected to dominate the market with 32.0% share by the end of 2015. In terms of value, the market in the region is expected to register the highest CAGR of 7.3% over the forecast and is projected to remain dominant by 2025. However, in terms of volume, the North America market is expected to register the highest CAGR of 7.2% over the forecast period.
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Key players in global gourmet salts market include Cargill, Incorporated, Morton Salt, Inc. (K+S Aktiengesellschaft), SaltWorks, Inc., CK Life Sciences Int'l., (Holdings) Inc. (Cheetham Salt Limited), Amagansett Sea Salt Co., Murray River Gourmet Salt, INFOSA, Pyramid Salt Pty. Ltd. and The Marblehead Salt Co. LLC..
The global gourmet salts market is segmented as follows:
By Product Type:
- Coarse salt
- Flake Salt
- Fleur de Sel
- Indian black salt
- Italian sea salt
- Sel Gris sea salt
- Smoked Sea Salt
By Application Type
- Bakery and Confectionery
- Meat and Poultry
- Sauces and Savory
- Desert and Frozen Food
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- The Middle East and Africa
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SOURCE Persistence Market Research