The global micronized salt market is expected to rise with CAGR of 3.6% by the end of 2028. Many factors are expected to contribute to the growing size of this market, which is estimated to surpass the valuation of USD3,305.8m through 2028, Persistence Market Research reveals.
A large share of revenue for the micronized salt market is attributed to bakery and confectionery products, owing to its extensive utilization in the preparation of baked goods, snacks, bread, and similar other products.
According to the U.S. Center for Diseases Prevention & Control, the daily average intake of salt among Americans is 3,400 mg, wherein the daily permissible limit of salt consumption is 2,300 mg. Increasing health consciousness among the consumers has encouraged them to control their salt consumption, in order to prevent sedentary diseases, which is boosting the demand for salt replacers.
Manufacturers have been pacing rapidly towards implementing novel technology to remove bitter taste of the potassium salt by leveraging L-lysine and bitterness blockers, which is expected to fuel the rate of adoption of these salt alternatives, thereby, posing challenge to the growth of the global micronized salt market. Additionally, a broad spectrum of micronized alternatives and its high cost is also a potent factor to negatively impact the micronized salt market.
Depending on the grade, the micronized salt market has been bifurcated into purity above 99.5% and purity between 98% and 99.5%. On the whole, the high purity (above 99.5%) segment is expected to draw a sizeable amount of revenue to the global micronized salt market. Based on the end use applications, the micronized salt market is segmented into canned or preserved fruits and vegetables, beverages, milk and dairy products, meat, sea foods and poultry, and bakery and confectionery products. Increasing demand for micronized salt can be attributed to the perpetually growing demand for bakery products such as bread, baked goods, and snacks.
North America remains a dominant region for the growth of micronized salt market. Globally, North America and Western Europe accounted for over 40.3% of market share in 2017.