About Fortified Salts
Fortified salt is referred to as a cost-effective method to handle the inadequacy of iron and iodine as it is generally consumed by all age segments and all kinds of income groups people. The fortified salt assists in giving sufficient measure of iodine to treat and forestall iron insufficiency in iron lacking subjects when 10-15 g of salt is consumed a day Sattrarzadeh and Zlotkin. Food fortification is the method involved with adding micronutrients (fundamental minor components and nutrients) to food. It very well may be done by food producers, as a general wellbeing strategy that plans to decrease the number of individuals with dietary inadequacies inside a populace. Therefore, Salt is a viable food vehicle for fortification of fundamental miniature supplements to battle dietary infections like Iodine Deficiency problems (IDD) and Iron Deficiency Anemia (IDA).
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.2% |
The business share is reasonably divided in nature attributable to the presence of enormous regional manufacturers. Organizations are occupied with collaboration, partnerships and new product launch which will give a chance to them to build product penetration. Key parts are expected to expand their store network across the Asia Pacific and North America to catch a greater portion of the industry. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Fortified Salts market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cargill (United States), Tata Chemicals (India), AkzoNobel salt (United States), Compass Minerals (United States), China National Salt Industry (China), Ankur Salt (India), Schweizer Salinen (Switzerland), United Salt Corporation (United States), Nirma Shudh (India) and Compass Minerals (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Annapurna Salts (India), Windsor Salts (Canada), Schweizer Salinen (Switzerland) and Saboo Sodium Chloro (India).
Segmentation Overview
AMA Research has segmented the market of Global Fortified Salts market by Type (Iodine, Iron and Double fortified), Application (Hotels, Restaurants, Food processing industry, Household and Animal feed) and Region.
On the basis of geography, the market of Fortified Salts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by By Distribution Channels, the sub-segment i.e. Hypermarkets & supermarkets will boost the Fortified Salts market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising prevalence of anemia due to iron deficiency and Growing demand for food preservation due to increasing preference for processed & packaged food
Market Growth Drivers:
Growing malnutrition concerns among children and adults and Increase in demand for a nutritious diet
Challenges:
Increase in awareness about the consumption of fortified salt in emerging countries
Restraints:
Lack of awareness and low purchasing power in developing countries and A side effect of the overconsumption of fortified salt
Opportunities:
Growth of hospitality & services industry along with increasing multi-cuisine restaurants and Growing demand for nutritive diet by surging geriatric populace with increasing lifespan
Market Leaders and their expansionary development strategies
In October 2023, Hindustan Salts Limited (HSL) has joined forces with the National Federation of Farmers’ Procurement (NACOF), in association with RKJ Agro and Foods Private Ltd. Their mission is to spearhead a transformative initiative that will ensure the availability of high-quality salt in every household
In May 2023, the World Health Assembly adopted a resolution promoting food fortification with folic acid to accelerate the slow pace of prevention of spina bifida and other birth defects associated with low maternal folate levels at the time of early pregnancy.
Food Safety and Security Authority of India (FSSAI) is the regulating authority that provides guidelines and makes rules and regulations regarding the production and consumption of fortified salts.
Key Target Audience
Industry Association, Government Regulatory Bodies, Government Research Institutions, Private Research Institutions, Hotels and Health and Nutrition Institutions
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.