GOURMET SALTS MARKET ANALYSIS

Gourmet Salts MarketSize and Trends

Global Gourmet Salts Market was valued at US$ 1.8 Bn in 2022 and is expected to exhibit a CAGR of 9.79%, in terms of revenue, over the forecast period (2023-2030) to reach US$ 3.8 Bn by 2030. Due to its textural qualities, including taste enhancer, flavor booster, and others, gourmet salt is expected to experience respectable growth over the upcoming years. There has been a significant increase in the number of restaurants and cafeterias around the world due to the trend of diverse food and shifting consumer food eating preferences. The use of gourmet salts in various cuisines as a seasoning and dressing gives consumers a savory and opulent appeal, ensuring the industry's continued expansion on a global scale.

Global Gourmet Salts Market - Impact of Coronavirus (COVID-19) Pandemic

The coronavirus has spread throughout the entire world, and most nations are implementing lockdown procedures to stop the virus's spread and protect public health. The complete shutdown of all commercial and industrial operations, except for those in the food, medical, and other sectors, is causing an economic crisis in the nation. Inactive trade and transportation have completely disrupted the supply chain, which has slowed down business and caused manufacturing and production functions to stop. As a result, companies may soon suffer significant damage.

Figure 1. Global Gourmet Salts Market, By Product Type, in 2022

Global Gourmet Salts Market: Growth Drivers

Consumer Preference for High-End Cuisine

Gourmet salt is prized for its elegant appearance, sophisticated flavor, and moist texture, and is considered by many chefs to be the best sea salt on the market. Everything tastes great with gourmet salt, including fried eggs, vegetables, salads, roasted or baked meats, or seafood. Smoked salts, for instance, go particularly well with foods that are grilled, like meats, chicken, and corn on the cob. They make food that was prepared on a stovetop taste like it was prepared over a campfire. For instance, in 2022, 10% of Americans, according to Kitchen Infinity, own a grill. Americans who enjoy grilling steaks are 34%. Sales of barbecue grills increased by 40% between 2020 and 2021. Less conventionally, they add a distinct depth to stews, tacos, mac and cheese, and caramel dessert combinations. The demand for luxury traditional cuisines with enhanced flavors is rapidly increasing, which is propelling the global gourmet salt market forward.

Increasing Food Service Industry Demand

The growing universalization is causing the food service industry to grow. The global crisis, according to the United States Department of Agriculture (USDA), caused a 16.9% decline in quick-service restaurants in 2021. The companies in this particular industry are therefore primarily concentrating on the innovation of healthy foods and beverages, which is driving up demand for healthy ingredients. Gourmet salt is one of the healthiest salts, and because it lowers the risk of many diseases, consumer demand for it is growing. The tastes and preferences of consumers for food are changing along with the increase in awareness. Additionally, the demand for foreign cuisines like Italian and French food, which call for specialized flavor salts, is rising as a result of globalization and the strong influence of Westernization in various nations. As a result, there is a growing need for salt. Gourmet salts are essential ingredients for all kinds of cuisines, especially in upscale restaurants. This is because each type of gourmet salt serves a distinct purpose and gives food a distinct flavor and texture. Hence, the expanding food industry globally.