The kosher salt market is expected to sail afloat on the back of increasing health awareness among consumers and change in their behavior pattern. As a result of the unprecedented COVID-19 outbreak, consumers have gotten into the habit of stockpiling on essential commodities. Salt, being an essential kitchen item, thus witnessed elevated demand amidst the ongoing scenario.
However, overall business is hampered to an extent as restaurants and food chains remain shuttered as per government orders. Nonetheless, recovery is on the cards with governments easing lockdown orders. Post COVID-19 period, as per TMR, will mark the market’s recovery and elevated demand for kosher salt.
Despite supply-chain disruptions, a byproduct of extended period of lockdown, Transparency Market Research (TMR) forecasts the demand for kosher salt to remain steady, enabling the market surpass an overall valuation of US$1.5 billion by 2025.
TMR studies the kosher salt market and offers refined forecasts for the period between 2020 and 2030. It has predicted the market to expand at above 6% CAGR over the course of the forecast tenure. The report offers exclusive insights into the market, examining key strategies adopted by the market players to gain competitive advantage.
The kosher salt market exhibits a high degree of consolidation wherein the tier 1 companies account for the lion’s share. Of these, Cargill, Compass Minerals International, Inc., and K+S Aktiengesellschaft are highly prominent. Due to lack of differentiation, most companies operating in the market are focusing on advertising their brands.
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North America to Continue Exhibiting High Demand
Additionally, research initiatives to better nutrition quotient of kosher salt will give tailwinds to the growth of their business. In TMR’s report, readers can find detailed insights into key trends prevailing in the market. It also offers information on key growth drivers and restraints.
Among regional markets, North America is expected to remain dominant through the forecast period. Growth witnessed in the region is attributable to consistently rising demand for kosher salt. Also, the market is expected to record impressive growth driven by demand witnessed across the regions illustrious restaurant, hotel, and food service chains.
Among product types available in the market, the demand for kosher salt crystals has been significantly high. The report offers detailed insights into various factors encouraging growth across key segments of the market.
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Increasing Application in Various Delicacies Underpins Growth
Kosher salt’s popularity as iodine-free salt has been rising, thanks to its increasing application in culinary arts around the world. Bereft of any chemical additives, this course salt has risen to popularity due to its health attributes. It is extensively used for seasoning of meat by fast food joints.
Coarse and slightly larger size grains of kosher salt gives it an easy to control texture, which is one of its key characteristics appealing to chefs around the world. Also because of its coarse grains, kosher salt gives an attractive texture to a plethora of delicacies. These are a few of the chief factors underpinning growth in the kosher salt market.
Besides this, the kosher salt market is forecast to gain the expanding food and beverage sector. Additionally, advances in packaging are expected to uncover hidden opportunities for the market. Retail stores and supermarkets have accorded distinct shelf and section for kosher salt to attract discerning consumers. There strategies are expected to augur well for the global market.
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