India Salt Market Report and Forecast 2024-2032

India Salt Market Size

The India salt market reached around USD 2.32 billion in 2023. The market is projected to grow at a CAGR of 6.2% between 2024 and 2032, reaching almost USD 3.98 billion by 2032.

India Salt Market Outlook

• India is the world’s third largest salt producer, with an annual production of 230 million tons.

• There are nearly 11,799 salt manufacturers in India, of which 5.8% are large scale salt producers.

• On average, India exports 35 lakh tons of salt annually to countries like Japan, UAE, and Bangladesh, among others.

India Salt Market Growth

In India, 167 million people are at risk of getting iodine deficiency disorder (IDD), out of which 54 million people are already suffering from goitre and 2 million from cretinism. As per government guidelines, an average adult should consume 150 micrograms of iodine daily, with the figure being 220mg and 290mg for pregnant and lactating women respectively. The poor consumption of iodine in regions like Andhra Pradesh, and Daman Diu is expected to boost the demand for iodised salt in these regions, thereby driving the market growth. Logistical challenges related to the storage and safe processing of salt are expected to witness rapid resolution, thereby driving salt demand among the masses.

Gujarat, Rajasthan, and Tamil Nadu are the leading salt-producing states of India, accounting for 76.7%, 9.86%, and 11.16% of the total production, respectively. The rest of the production comes from Maharashtra, Orissa, Goa, Himachal Pradesh, West Bengal, Andhra Pradesh, and Goa, among others. Large scale producers dominate salt production in India, with a 62% share in output, whereas small producers account for 28% of the total production.  The average salt supply meant for human consumption in India amounts to 59 lakh tons, while industries take 107 lakh tons.

India Salt Industry Segmentation

India Salt Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Rock Salt

• Brine

• Solar Salt

• Vacuum Salt

Market Breakup by Application

• Chemical Processing

• De-icing

• Food Processing

• Others

Market Breakup by Region

• East India

• West and Central India

• North India

• South India

India Salt Market Share

Based on region, the market is divided into East India, West and Central India, North India, and South India. Over the forecast period, West and Central India is expected to grow at a CAGR of 6.9% during 2024-2032. This can be attributed to the high salt production in Gujarat, which is majorly sourced from marine sources and inland lakes.

Leading Companies in the India Salt Market

Major market players are expected to boost the manufacturing of double fortified salts to enable people to consume a balanced diet and stay healthy.

• K+S Aktiengesellschaft

• Ankur Chemfood Ltd.

• SKC Industries LLP

• Shree Sai Salt

• Tata Consumer Products Ltd.

• Chandan Salt Works Pvt. Ltd.

• INEOS Group

• GHCL Limited

• Phenix Enterprise

• Goyal Salt Limited

• Others

Key Highlights of the Report