"We Envision Growth Strategies Most Suited
to Your Business"

U.S. Salt Market Reached USD 4.12 Billion in 2023; Rising Demand from the Agriculture Sector to Proliferate the Market Growth: Fortune Business Insights™

April 10, 2024 | Chemicals & Materials

The U.S. salt market size was valued at USD 4.12 billion in 2023. The industry is expected to expand from USD 4.19 billion in 2024 to USD 4.91 billion by 2032, exhibiting a CAGR of 2.0% over the study period. U.S. Salt Market Size, Share & Industry Analysis By Source (Brine and Salt Mines), By Type (Rock Salt, Salt in Brine, Solar Salt, and Vacuum Pan Salt) By Application (De-icing, Chemical Processing, Oil & Gas, Flavoring Agent, Agriculture, Water Treatment, and Others), and Country Forecast, 2024-2032 


Salt refers to a mineral that is available in seas and underground deposits and is also referred to as sodium chloride (NaCl) owing to its composition of 60% chloride and 40% sodium. The market is witnessing a change in the consumption habits of consumers and a movement toward natural and organic food products. It is used in various industrial processes such as de-icing, water treatment, and chemical manufacturing. The product is used to melt the snow and ice on the roads, walkways, and other surfaces. The demand for the product from the agriculture sector is also set to drive the market growth.


A fall in exports and imports was reported by the U.S. salt industry amid the COVID-19 pandemic, which can be attributed to the slowdown in industrial and economic activities. Moreover, the decreased capacities of soda ash and caustic companies and the closure of eateries resulted in a reduction in the product demand in the U.S.


Tanteo Tequila Unveiled Their Newly Flavored Margarita Salts


In May 2021, Tanteo Tequila unveiled their newly flavored margarita salts; Jalapeño, Chipotle, Habanero, and Citrus flavored margarita salts that are in use with 750ml of their Jalapeño, Chipotle, Habanero, and Blanco expressions. Tanteo Tequilas are made from fair trade, 100% Blue Weber agave, and these new salts will elevate and help elevate everyone’s margarita game and enhance the flavors of the iconic cocktails. The new additions in the product portfolio by the company are set to boost its market position.


Surging Demand from the Agriculture Sector to Spur the Market Growth


The product is needed by livestock for the proper growth and development and it is often offered in salt licks and mineral blocks form. In addition, it is utilized as a soil amendment for the enhancement of structure and fertility of soil in several agricultural practices. Thus, these factors are driving the U.S. salt market growth. The demand for the product is driven by need to help livestock nutrition, manage weeds, maintain nutrient solutions, improve soil conditions in soilless agriculture systems, and preserve crops. In addition, the product is also helpful in efficient distribution across large areas of roads and highways which is estimated to drive the market growth.


Despite such growth opportunities, the surging health concerns and regulations by the government may hamper the market growth. Problems related to the overconsumption of salt leads to various health issues cardiovascular disorders and high blood pressure. FDA has also issued various guidelines to decrease the consumption of ready-to-eat, packaged, and processed foods as these food products have high amount of sodium in them. These factors are set to hinder the market development.


Top Companies Emphasize Product Innovations to Boost Their Position


The U.S. salt market share is witnessing the competition between market players mainly on the basis of application characteristics and price of the product. Strategic initiatives such as mergers & acquisitions, joint ventures, and capacity expansions are being leveraged by prominent companies to gain a competitive edge. Product innovation strategies are also being adopted by top companies to enhance their position.


Key Industry Development



  • May 2021- Tanteo Tequila announced the release of Jalapeño, Chipotle, Habanero, and Citrus flavored margarita salts. Tanteo Tequilas are manufactured using fair trade, 100% Blue Weber agave.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/u-s-salt-market-108263


List of Key Players Profiled in the Market Report: -



  • American Rock Salt (U.S.)

  • Cargill Salt (U.S.)

  • Compass Minerals International, Inc. (U.S.)

  • INEOS Enterprises Salt (U.K.)

  • K+S (Germany)

  • Solvay (Belgium)

  • US Salt LLC (U.S.)

  • Jacobsen Salt Co. (U.S.)

  • Ahir Salt Industries (India)


Further Report Findings:



  • By source, the salt mines segment is anticipated to register the largest share during the forecast period. Underground deposits are available, which is bolstering the salt mines segment expansion.

  • On the basis of type, the rock salt segment witnessed the largest share in 2023. The deployment of rock salt in water softening systems for the removal of hardness from water is impelling the segment growth.

  • Based on application, the de-icing segment registered the largest U.S. salt market share in 2023. The generation of more demand for the product from many icing or low snowfall events for de-icing applications than a single large snowfall event is driving the segment expansion.


Table of Segmentation
















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 2.0% from 2024 to 2032



Unit



Value (USD Billion)



Segmentation



By Source



  • Brine

  • Salt Mines



By Type



  • Rock Salt

  • Salt in Brine

  • Solar Salt

  • Vacuum Pan Salt



By Application



  • De-icing

  • Chemical Processing

  • Oil & Gas

  • Flavoring Agent

  • Agriculture

  • Water Treatment

  • Others


U.S. Salt Market
  • PDF
  • 2023
  • 2019-2022
  • 104

    CHOOSE LICENSE TYPE

  • 2850
    3850
    4850

Our Clients

BASF
Hunkeler
Ferrero
Toyota
Galemed
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X