Global Salt Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Salt Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Salt is a mineral composed primarily of sodium chloride (NaCl), which is a compound belonging to a larger salt category. Seawater contains a lot of salt. Each liter of seawater contains about 35 grams (1.2 ounces) of solids, with a salinity of 3.5%. Salt is processed from salt mines, which is formed by evaporation of seawater (sea salt) and mineral-rich water in shallow pools. Salt can be divided into sea salt, well mineral salt and lake salt, which are widely used in chemical processing, food industry, road deicing, water treatment and other fields.

Market Overview:

The latest research study on the global Salt market finds that the global Salt market reached a value of USD 1210.56 million in 2022. It’s expected that the market will achieve USD 1617.64 million by 2028, exhibiting a CAGR of 4.95% during the forecast period.

The production and sales of Salt are affected by Covid-19

In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, affected by the supply of raw materials and labor shortages.

For the Salt industry, the blockade policy will affect the supply of raw materials and export trade of products. The social distancing policy may have a great impact on the production of products, especially for some small factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after the production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect the development of enterprises.

But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Competition in the industry is fierce

For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made. The Salt industry is facing a fierce competitive position. Many companies have been doing business in this industry. They pay more attention to R&D, product innovation, channel construction and customer relationship management, trying to gain greater market share and competitive advantage.

Continuous innovation

Technological innovations have an important role in driving the growth of the market. To sustain in the competitive market, vendors should develop new ideas and technologies and stay up-to-date with the advanced technologies. At present, the salt-making process mainly adopts vacuum evaporation including vacuum evaporation, salt-sales co-production, centrifugal dehydration, boiling drying, etc. Its mainstream technology development mainly focuses on energy saving, five-effect vacuum evaporation process, heat pump technology, etc. With the continuous progress of technology and process, the vacuum salt making technology has developed into a salt making process with low energy consumption, high yield and quality, high degree of production automation and advantages of cogeneration.

Region Overview:

In global comparison, a significant portion of the revenue was generated in Asia Pacific (43.74% in 2021).

Company Overview:

K+S AG is one of the major players operating in the Salt market, holding a share of 11.33% in 2022.

K+S AG

K+S AG is a German chemical company headquartered in Kassel. The company is Europe largest supplier of potash for use in fertilizer and, after the acquisition of Morton Salt, the world largest salt producer. The firm also produces and distributes other mineral fertilizers, such as those from magnesium and sulphur.

Compass Minerals

Compass Minerals International, Inc is a public company that, through its subsidiaries, is a leading producer of minerals, including salt, magnesium chloride, sulfate of potash and other plant nutrition products. Based in Overland Park, Kansas, (a suburb of Kansas City), the company provides bulk treated and untreated highway deicing salt to customers in North America and the United Kingdom and plant nutrition products to growers worldwide. Compass Minerals also produces consumer de-icing and water conditioning products, consumer and commercial culinary salt, and other mineral-based products for consumer, agricultural, and industrial applications. In addition, Compass Minerals provides records management services to businesses throughout the United Kingdom.

Segmentation Overview:

As for product types, the Well Mineral Salt segment held the largest market share in 2021.

Sea Salt

Sea salt is a general term for salt produced by evaporation of ocean water. It has less processing and retains trace minerals. These minerals add flavor and color. Sea salt is available as fine grains or crystals.

Well Mineral Salt

Well mineral salt is the salt produced by drilling to extract underground rock salt by water solution or the salt produced by drilling to extract underground natural brine.

Lake Salt

Salt lake refers to lakes accumulated on the surface in the form of salt water, from which lake salt is extracted.

Application Overview:

The market's largest segment by application is the segment Chemical Processing, with a market share of 53.34% in 2021.

Key Companies in the global Salt market covered in Chapter 3:

Exportadora de Sal S.A. de C.V.
WA Salt Supply
CIECH GROUP
Salinen Austria
Salins Group
Jiangsu Salt
China National Salt
Onslow Salt
Cargill
Compass Minerals
Cheetham Salt
Ankur Chemfood
Shandong Lubei Chemical Co.,Ltd
Shandong Chengyuan Group
Yunnan Salt & Chemical Industry co., ltd
American Rock Salt
Rio Tinto Group
Nobian
Tata Chemicals
Südwestdeutsche Salzwerke AG
Hunan Salt
DSCG
Industria Salinera de Yucatán SA de CV
K+S AG
Dev Salt Pvt Ltd

In Chapter 4 and Chapter 14.2, on the basis of types, the Salt market from 2018 to 2029 is primarily split into:

Sea Salt
Well Mineral Salt
Lake Salt

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Salt market from 2018 to 2029 covers:

Chemical Processing
Food Industry
Road De-icing
Water Treatment
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)