K+S
Aktiengesellschaft, Cargill, Inc., and Compass Minerals have been the
leaders of the global kosher salt market in 2015 with a collective
share of 70.4% of the market value. With such a massive share in the
market’s value, the global kosher salt market has been consistently
consolidated in nature with only a basic regional scope of growth for
localized businesses. However, the global kosher salt market contains
a highly unorganized business sector that belongs to these regional
players, making overall consolidation efforts and market statistics
calculation difficult tasks.
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According
to a research report released by Transparency Market Research, the
global kosher salt market is expected to show a heavy concentration
in China, followed by the entry of new players in developed regions,
especially in the U.S. On the basis of revenue, the global kosher
salt market was valued at US$832.3 mn at the end of 2015. It is
expected to reach US$1517.2 mn by the end of 2024, after expanding at
a CAGR of 7.0% from 2016 to 2024. On the basis of volume, the global
kosher salt market is expected to progress at a CAGR of 3.7% from
2016 to 2024.
Very
High Preference for Kosher Salts in Expansive Food Service Industry
Boosts Demand
“Kosher
salts hold a very unique and lasting advantage over common processed
salts. They are far less intense in taste and are purer than table
salt. This makes them a great choice for seasoning and cooking meat
as they add to the quality of the cook meat without making the
preparation overly salty. This is why a majority of chefs in the
world prefer to season meats using kosher salts over table salts.
Coupled with the fact that the food and beverages industry as well as
its food services component are increasing at very fast rates, the
demand for kosher salts is very likely to show an upswing over the
coming years,” states a TMR analyst.
The
global
kosher salt market is also being augmented by the physical
properties of kosher salt that make them much easier to use than
table salts. Kosher salts and coarse and granular in nature which
allows consumers to pick them up by hand in order to use and to
measure. At the same time, the overall volume of kosher salts used in
foods is greater than table salts due to their less salty nature as
well as their higher surface areas and open granular structures.
Lower
Iodine Proportions make Kosher Salts Unadvisable in Certain Regions
One
of the key restraints acting on the global kosher salt market is the
lower use or even absence of kosher salts in certain geographical
location around the world. The overall consumption of table salts and
iodine is less in these regions and the introduction of kosher salts
is extremely difficult here due to the low iodine content they hold.
Table salts are often iodized in these regions and are therefore in
greater preference.
“Apart
from these specific locations, the majority of the world is showing a
greater inclination towards the use of kosher salts. They are
healthier and help season meat much better than table salts, two
facts that are getting known better across the world. As the overall
consumption of food and especially meats in the world increases,
there will remain a high scope of growth for players in the global
kosher salt market for the coming years,” adds the analyst.
The
information presented in this review is based on a Transparency
Market Research report, titled, “Kosher Salt Market - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 -
2024.”
Key
segments of the Global Kosher Salt Market
Global
Kosher Salt Market: By Product Type
- Kosher Salt Flakes
- Smoked Kosher Salt
- Kosher Salt Crystals
Global
Kosher Salt Market: By End User
- Retail (Packed Kosher Salts)
- Food Service Companies
- Food & Beverage Manufacturers
Global
Kosher Salt Market: By Packaging Material Type
- Cardboard and Paper
- Plastic
- Others
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