The Growing Demand For Convenience Food Products Is Driving The Mineral Salt Ingredients Market

The Growing Demand For Convenience Food Products Is Driving The Mineral Salt Ingredients Market

Mineral salt ingredients are soluble mineral nutrients added to food products to enhance their nutritional value, flavor and texture properties. They are commonly used as iodized salts that provide essential micronutrients like iodine. With changing lifestyles and increasing spends on convenience food products, mineral salt ingredients are being added to ready meals, packaged snacks and bakery foods. Their stability during processing and long shelf-life makes them suitable food additives. Popular mineral salt ingredients include calcium chloride, magnesium chloride and potassium chloride that are used as raising agents, firming agents and stabilizers.

The global Mineral Salt Ingredients Market is estimated to be valued at US$ 10.56 billion in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Consumesr are increasingly looking for simple, recognizable ingredients in their food products and mineral salts meet these demands. Product developers in the food industry are formulating allergen-free and vegan products using mineral salt ingredients like potassium chloride as a substitute for sodium chloride. Emerging applications in dietary supplements, animal feed and pharmaceuticals will also boost the demand for mineral salts. Their ability to enhance digestion, muscle function and brain health is positioning mineral salts as functional food additives. The market players are investing in R&D to identify new sources of mineral salts and develop customized mineral blends as per the application needs. This will help expand the applications of mineral salt ingredients in the coming years.

Porter's Analysis
Threat of new entrants: New entrants will face high initial investment costs in production facilities and gaining brand recognition in the established Mineral Salt Ingredients market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and lack of product differentiation.
Bargaining power of suppliers: A few large companies dominate the supply of key mineral salt ingredients giving them higher bargaining power.
Threat of new substitutes: Potential threat from alternatives like herbs, spices and artificial flavors. However, switching costs for end users are high.
Competitive rivalry: Competition is high due to established players and differentiated products.

Key Takeaways

The Global Mineral Salt Ingredients Market Demand is expected to witness high growth. The market is expected to reach a value of US$ 15.97 Bn by 2030 from US$ 10.56 Bn in 2023, expanding at a CAGR of 4.6% during the forecast period.

Regional analysis: North America dominates the global mineral salt ingredients market currently, followed by Europe. Asia Pacific is expected to witness the fastest growth during the forecast period due to increasing consumption of packaged foods in countries like China and India.

Key players: Key players operating in the Mineral Salt Ingredients market are Morgan Advanced Materials (UK), Mersen (France), TOYO TANSO (Japan), SGL Group (Germany), NAC Carbon Products, Inc. (USA), Graphite India Limited (India), Superior Graphite (USA), Qingdao Tennry Carbon Co., Ltd. (China), Zircar Ceramics (USA) & Schunk Group (Germany). Players are focusing on new product development and capacity expansions to strengthen their positions.

For More details on the topic:

https://www.marketwebjournal.com/mineral-salt-ingredients-market-market-size-and-share-analysis/