Vacuum Salt Market size is forecast to reach $6.6 Billion by 2025, growing at a CAGR of 4.8% during the forecast period 2020-2025. Vacuum salt is a type of salt, a crystalline mineral that is obtained from a brine (salt water), chemically purified and by a process of controlled thermal compression and vacuum evaporation, solidify and crystallize into a spherical shape with a minimum content of sodium chloride (NaCl) of 99.7% purity. Vacuum compacted salts are formed from rock salt (Halite) which undergoes a mechanical compacting process and depending on the type of molds, different shapes are obtained. On the other hand, vacuum dry salts are all those vacuum salts which have undergone a process of spinning and drying to obtain a specific granulometry and their main characteristic is a moisture content of 0.3% maximum. Growing demand for good quality and pure salt, gradual increase in chemical manufacturing industries and growing usage in feed of livestock are driving the market growth in recent years. In addition, major market development of key players like Tata Chemicals and AkzoNobel are other factors driving the growth of the market. Vacuum Salt Industry Analysis is based on salt type, particle type, application, end user and geography.
Particle Type – Segment Analysis
Fine Segment held the largest share in the particle type segment of Vacuum Salt Market in 2019 and is estimated to grow at a CAGR of 3.5% during the forecast period 2020-2025. Fine Vacuum salt is used in the process of animal nutrition, water treatments and is manufactured to the stringent food hygiene standards. This salt is also ideal for bath treatments and to put in the hospital tank for bacterial problems. Increasing demand for applications in hospitals and food industries have resulted in gradual market growth of the segment in recent years. Briquette segment is set to be the fastest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025, owing to its wide range of use in industry segments of washing and drying.
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End User – Segment Analysis
Chemical Industry held the major share in the end user segment of Vacuum Salt Market in 2019. Vacuum salt is widely used in the chemical industry for electrolysis, production of detergents and dyes, as well as for household chemicals like treatment and softening of water and dishwashers. Vacuum salt very well complies with various industrial standards and is very suitable in the manufacturing processes of some important chemicals. Food Industry held the second position in the end user segment, owing to growing applications in beverage industry and use in households. Food grade PDV salt is ultra-pure vacuum salt. The various grain sizes and added iodine mean that it can be used in various applications, such as the processing of dairy products, spice blends and baked goods. Food grade PDV salt – compacted (grain size 1 – 3 mm) is suitable for decorating of baked goods. In recent years, demand for food salt has increased owing to its increased usage in bakeries and new varieties of recipes. Food Industry is forecast to grow at the fastest rate with the highest CAGR during the forecast period 2020-2025, owing to launch of new food product stores and shifting consumer demand for healthier salt containing foods.
Geography – Segment Analysis
North America dominates the geography segment of Vacuum Salt Market with a share of more than 38% in 2019, followed by Europe. Presence of the developed food and beverage industry, increasing awareness about the health benefits of high-purity vacuum salt for household use and presence of key players in the region have helped in the growth of Vacuum Salt Market infrastructure in this region. Europe held the second place in the geography segment share of the market, owing to developing chemical industries infrastructure, increasing working population and shifting consumer lifestyle towards healthier diet in this region.
Asia-Pacific is estimated to grow at the fastest rate at a higher CAGR during the forecast period 2020-2025. This is owing to rapidly increasing market of beverage industry, growing awareness about benefits of vacuum salt, and increasing disposable income of the common person.
Drivers – Vacuum Salt Market
Growing demand for high-quality salt in food and beverage industry
Vacuum salt acts as a flavoring agent and improves the taste and flavor of food and beverage products. These salts are widely used in the manufacturing of a wide range of foodstuffs such as bread, ready-meals, drinks and cured meats. Vacuum salt complies with the health and international regulations, reduces the time for the preparation of salt solution for medical purposes and reduces the cost of the chemical treatments. This is set to drive the market growth in the forecast years 2020-2025.
Increasing demand for vacuum salt in animal feed production
Vacuum Salt is ideally suited for poultry feed and diet for dairy animals. It is of particular value as a non-chloride source of sodium in poultry diets. Vacuum salt forms a vital component of cattle licks as it provides much-needed salt and minerals to dairy livestock and acts as a supplement to their normal diet. Cattle licks are available either as plain salt blocks or mineralized salt blocks that also contain essential nutrients such as cobalt, zinc, iron, copper, manganese and iodine. A number of key market players are thereby investing in vacuum salt products for animal feed, and this is projected to drive the Vacuum Salt growth during the forecast period 2020-2025.
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Challenges – Vacuum Salt Market
Higher price of vacuum salt products
In view of vacuum salt products demand, the manufacturers are putting more prices on the products, as a result of which the demand is decreasing. Since, animal feeds are anticipated at a lower price, there is a gradual strain on market demand of vacuum salt in recent times. Thus, it is anticipated to hamper the market growth during the forecast period 2020-2025.
Vacuum Salt Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Vacuum Salt Market. In 2019, Vacuum Salt Market share is consolidated by the top players present in the market. Vacuum Salt Market top 10 companies are K+S AKTIENGESELLSCHAFT, Ciech, Tata Chemicals, AkzoNobel, INEOS Group, Dominion Salt, AB Hanson & Mohring, Cerebos, Kensalt and WA Salt Group among others.
In March 2020, K+S AKTIENGESELLSCHAFT announced the complete sale of the Operating Unit Americas forward and would realign the company.
In January 2020, Tata Salt announced the “Salt Therapy”, which would help battle the ill-effects of air pollution using the therapeutic benefits of salt.
In December 2017, AkzoNobel’s Specialty Chemicals announced its plans to expand production of high-purity vacuum salt at its Delfzijl site in the Netherlands.
North America dominates the Vacuum Salt Market in the year 2019 owing to well-established food and beverage industry, increasing awareness about high-purity vacuum salt for household use and presence of key players in the region. The Vacuum Salt Market scope for different regions will be provided in the final report.
Growing demand for high-quality salt in food and beverage industry, increasing demand for vacuum salt in animal feed production, higher demand from the water softening industry and increasing investments in the market products by key market companies in upcoming years is estimated to drive the industry growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Vacuum Salt Market report.
Higher price of vacuum salt products and availability of salt substitutes are anticipated to hamper the market growth of the Vacuum Salt Industry.
Related Reports :
A. Salt Additives Market
B. Sodium Reduction Ingredients Market
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