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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
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List of Key Players Profiled in the Market Report: -
Further Report Findings:
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
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By Type
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By Application
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