The global gourmet salt market is forecasted to register a CAGR of 5.9% during the forecast period (2020-2025), anticipated to be driven by factors such as demand for extravagant and mouthfeel along with the growing concept of devouring foods cooked from scratch.
- Promotion of gourmet salts by chefs that includes various content such as minerals, less chalky and brighter taste, along with growing preferences of consumers in adding ingredients to enhance flavors are expected to drive the demand in the near future.
- Innovation in terms of infusing different flavors across gourmet salts is expected to drive sales, since altering consumer preferences are likely to play a key role in determining demand. Furthermore, visual appeal is one of the key criteria, which is anticipated to imbibe the product placing across both retail and kitchen shelves.
Key Market Trends
The Frequent Notion of Eating Traditional Cuisines Across Full-service Restaurants
The trend in devouring traditional blend of foods have witnessed a rapid demand among consumers, where novel products offered by restaurants have indicated a high rate of acceptance considering the inclusion of natural ingredients to enhance flavors. Although, manufacturers are trying to offer a close-to-accurate product that replicates the same flavor, taste, and mouthfeel, which over a short term period the scalability seems to be feasible. Preference of consumers has altered over the fast few years, where consumers in general, desire home-cooked or restaurant served food dishes.
North America Continue to Dominate the Global Market
Americans are consuming substantially more sodium than in the 1970s. Although, since 2010, some manufacturers have reduced sodium in some foods, and the amount of sodium consumed has decreased slightly in some groups of people. However, the shift in preferences has led to the scaling demand for gourmet salts altogether. The introduction of flavored gourmet salts is one of the latest trends that will contribute to the growth of this market in the forthcoming years across the region. Moreover, there is also a growing opportunity in the market for flavored salts made from natural ingredients i.e. naturally flavored.
Key players have intensely embarked on industry consolidation by leveraging their distribution network, entering into partnerships with local distributors, especially in the emerging economies, and developing new products with customization for different products.
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1.1 Study Deliverables & Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Sel Gris
5.1.2 Flakey Salt
5.1.3 Himalayan Salt
5.1.4 Speciality Salt
5.2 By Distribution Channel
5.2.2 Convenience stores
5.2.3 Online Retailing
5.2.4 Specialty Stores
5.2.5 Other Distribution Channels
5.3 By Geography
5.3.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.3.3 Asia Pacific
22.214.171.124 Rest of Asia-Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Maldon Crystal Salt Co.
6.4.2 Baker & Baker Salts
6.4.3 Saltworks Inc.
6.4.4 Alaska Pure Sea Salt Co.
6.4.5 San Francisco Salt Company
6.4.6 Pyramid Salt Pty Ltd
6.4.7 Murray River Salt
6.4.8 The Marblehead Salt Co. LLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.