The demand for vacuum salt is likely to increase from the pharmaceutical and chemical industry, as heavy usage of rock salt and low-grade salt affects the quality of pharmaceutical as well as chemical products. Manufacturers in these industries are shifting to the use of vacuum salt to ensure that their products are of the highest quality. On the back of these factors, the demand for high-purity vacuum salt from manufacturers in this industry is expected to grow on a global scale. The vacuum salt market has witnessed steady growth over the past few years, and this growth is expected to continue throughout the forecast period of 2019-2029. The global vacuum salt market is estimated to register a steady CAGR of 4.5% throughout the forecast period of 2019-2029.
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Key Takeaways of Vacuum Salt Market Study
- Europe holds a significant share in the global vacuum salt market, as this region has the largest number of consumers as well as pharmaceutical and chemical manufacturers that demand high purity vacuum salt.
- The briquette segment is projected to register significant growth in the global vacuum salt market over the forecast period of 2019-2029.
- The market in South Asia, followed by East Asia, is anticipated to register an impressive growth rate over the forecast period, owing to the increasing number of manufacturers of food, beverage, and chemical products in these regions.
- The households segment is projected to register noteworthy growth over the forecast period, attributable to consumer preference toward high-purity vacuum salt over rock salt.
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Vacuum Salt Market: Competitive Landscape
Vacuum salt is suitable for a wide range of general applications, including food, chemicals, and industrial and water treatment, where quality and purity are of the highest concern. Hence, manufacturers in the vacuum salt market are focusing on offering application-specific vacuum salt products to end users from different industries. These include offerings such as food-grade vacuum salt, de-icing, industrial, livestock, and salt tablets.
- K+S Aktiengesellschaft, a leading manufacturer of vacuum salt, provides ‘SOLSEL ® Natural’- a vacuum salt licking stone offering that aims to provide sufficient minerals to animals.
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