- The key vendors in the Global Salt market 2015-2019 are Cargill Inc., China National Salt Industry Corp., Compass Minerals International Inc., INEOS Group AG, K+S AG
London, 25 February 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Salt Market 2015-2019. One of the major trends being witnessed in the market in recent years is the rise of China as the largest producer and consumer of salt in the world. China, riding on its significant economic and industrial development in the country, has emerged as the largest consumer of salt for industrial purposes. The increased production of salt by the solar evaporation process is also another major trend, which is expected to continue during the forecast period. The overall market is expected to grow at a CAGR of 2.55 percent during the forecast period of 2014-2019.
The Global Salt market is expected to grow at a slow pace during the forecast period, owing to a decline in demand for salt in Europe, resulting from the decreased use of salt for household cooking purposes. The market is expected to benefit from the increased demand for salt from the Chemical and Food Processing industries in the emerging economies in the APAC region, especially India and China.
“Industrial development in China, along with the increased emphasis on the development of the Chemical Processing industry by the government of China, has resulted in the increased consumption of salt for household and industrial applications,” says Faisal Ghaus, Vice President of TechNavio Research.
“The demand for salt has been fueled further by the growth of the F&B sector in the country, along with the increased salt production capacity. The significant growth of the Salt industry in the APAC region in recent years is also resulting in an increase in production through solar evaporation.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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