The mineral salt ingredients market has been gaining significant traction over the past decade due to the growing need for nutrient-rich food products. Mineral salts are widely used as food additives to enhance the nutritional profile of various products. They act as important sources of microelements like calcium, magnesium, potassium and others. The growing health-consciousness among consumers has encouraged food manufacturers to introduce fortified food items in their portfolio. This, in turn, has stimulated the demand for mineral salt ingredients globally.
Mineral salt ingredients are used in various packaged food items like bread, cereals, dairy products, dietary supplements and more. They help meet the recommended daily intake levels of essential minerals. The mineral composition and level of absorption of mineral salts make them ideal supplements. Their consumption has been associated with improved bone health, heart function and cellular activities.
The Global mineral salt ingredients Market is estimated to be valued at US$ 11.69 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players: Key players operating in the mineral salt ingredients market are 3M, BSN medical, Zimmer Biomet Holdings, Inc., DJO, LLC, Össur Corporate, Stryker Corporation, Ottobock Holding GmbH & Co. KG, medi GmbH & Co. KG, Remington Products Company, Becker Orthopedic, Prime Medical Inc.,Tynor Orthotics Pvt Ltd., United Medicare, and Orthosys.
Key opportunities: The rising focus on nutrition is driving food companies to innovative fortified food product launches. This provides multiple opportunities for mineral ingredient suppliers to partner with such companies. Moreover, expansion in untapped regional markets will further support market growth over the next few years.
Global expansion: Major players are strengthening their global footprint through acquisitions and mergers. They are also signing long-term supply contracts with international food giants to meet the growing worldwide demand for nutrient-rich food. This will aid the global proliferation of the mineral salt ingredients market over the forecast period.
Market drivers: One of the key drivers for the Mineral Salt Ingredients Market Demand is the increasing health consciousness among consumers. People are more inclined towards healthy diets and fortified food items to meet their daily mineral requirement through meals. This consumer trend has prompted food brands to load up on mineral ingredients. Additionally, growing geriatric population prone to mineral deficiencies is another major factor accelerating market growth.
PEST Analysis
Political: Mineral salt ingredients market is regulated by food safety policies set by governing bodies like FDA in the US and EFSA in Europe. These regulate permissible levels of different mineral salts used in food products.
Economic: Economic growth and rising disposable incomes are increasing demand for processed and packaged food products where mineral salt ingredients are used. Growing health consciousness is also driving demand for reduced sodium mineral salt substitutes.
Social: Changing lifestyles and busy schedules are increasing dependence on convenience foods incorporating mineral salt ingredients. Growing awareness about health impacts of excessive sodium intake is boosting market for reduced sodium mineral salt substitutes.
Technological: Manufacturers are developing novel mineral salt ingredients and formulations through advanced research and development. New extraction and processing technologies help ensure consistent quality and safety of mineral salt ingredients.
The geographical regions where the Mineral Salt Ingredients Market Regional Analysis is concentrated in terms of value are North America and Europe. This is because of the strong packaged food industries and high per capita consumption of processed foods in these regions.
The Asia Pacific region is the fastest growing market for mineral salt ingredients. This is attributed to rising incomes, growing urbanization, and development of food processing industries in many Asia Pacific countries like China, India and others. Increasing health awareness is also driving demand for reduced sodium salt substitutes in this region.
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