Global Salt Market Report and Forecast 2024-2032

Global Salt Market Size

The global salt market reached USD 36.7 billion in 2023. The market is projected to grow at a CAGR of  5.1% between 2024 and 2032, reaching almost USD 57.4 billion by 2032.

Global Salt Market Outlook

• An average American consumes 3300 mg of salt daily, as per the National Centre for Disease Control and Prevention.

• In China, people, on average, consume 9.3 grams of salt per day solely from home cooking.

• According to the WHO, the implementation of sodium reduction initiatives can save nearly 7 million lives by 2030.

Global Salt Market Growth

There are 22,407 food manufacturing facilities in the United States, with average annual sales of $1.8 trillion. This is expected to surge the demand for salt, as it is a crucial component of various processed foods and enhances their texture, flavour, and colour.

The rising demand for food with nuanced and complex flavours is surging the usage of different varieties of salt, ranging from pink salt to black lava salt, for contrasting sweetness, introducing new flavours, and driving innovation in food and beverages. Besides, growing concerns regarding high sodium intake and the rising prevalence of health issues like stroke and hypertension are prompting key players to develop salt with reduced sodium content.

Salt also presents a sustainable and economical method of recycling plastic waste. While platinum is well suited for the pyrolysis of polyolefins, it is relatively quite expensive as compared to rock salt (0.04/kg). Researchers at the MSU (Michigan State University) have discovered that the output of polyolefin pyrolysis using rock salt yields 86% liquid and 14% gas while yielding zero solid wax, which makes it an eco-friendlier alternative to aluminium, platinum, or carbon. Further improvements in processes are expected to boost their applicability across various industries in the coming years.

Global Salt Industry Segmentation

Global 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 

• Road De-icing

• Food Processing

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Salt Market Share

Based on type, the market is divided into rock salt, brine, solar salt, and vacuum salt. Over the forecast period, solar salt is expected to account for a significant market share as an increasing number of consumers prefer sustainable, healthier, and cheaper alternatives to processed food salts.

Leading Companies in the Global Salt Market

The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.

• Cargill, Incorporated

• Syensqo SA

• Tata Chemical Ltd.

• K+S Aktiengesellschaft

• Wacker Chemie AG

• China National Salt Industry Corporation

• CIECH S.A.

• The Salins Group

• Compass Minerals International, Inc.

• Archean Chemical Industries Limited

• Others

Major market players are focusing on researching sustainable ways of extracting salt from seawater.

Key Highlights of the Report