Technavio analysts forecast the global gourmet salt marketto grow at a CAGR of over 6% during the forecast period, according to their latest report.
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Technavio has published a new report on the global gourmet salt market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global gourmet saltmarketfor 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
Increasing demand for gourmet cuisine and growing preference for fine dining drive the global gourmet salt market. Gourmet salts are excellent preservatives and are thus in high demand in the meat and seafood industry. Fish fillets cured in gourmet salts are popular all over the world. An increasing number of consumers prefer dining out at gourmet restaurants. A majority of the gourmet restaurants use gourmet salts in ethnic cuisines.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global gourmet salt market:
- Rising demand for gourmet salts in meat and seafood processing industry
- Increase in number of gourmet restaurants
- Increasing viewership of food and cookery shows
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Rising demand for gourmet salts in meat and seafood processing industry
Salt, brine, and vinegar are used as preservatives in the meat and seafood processing industry. Gourmet salts are used for curing meat and seafood and enhancing their flavors. Since ages, salts have been used as preservatives and curing agents for pickles and meat, respectively. Before the advent of refrigeration, salts were the key ingredients used in the preservation of foods.
Akash Pandey, a lead food research analyst at Technavio, says, "Himalayan pink salt is used for curing hams, beef, bacon, sausages, and other seafood. Blocks of Himalayan pink salt is used for curing meat and fish as these draw out a reasonable amount of moisture and provide salinity. It helps retain the taste and texture of fish and meat till the final consumption."
Increase in number of gourmet restaurants
Fine dining includes regional, international, and exotic gourmet dishes. Popular gourmet restaurants across the world offer authentic cuisines from various parts of the world such as Japan, Mexico, and France. Increasing number of gourmet restaurants fuels the consumption of gourmet salts.
"Apart from relishing the traditional cuisines, such as Peranakan cuisine of Southeast Asia, connoisseurs engage with the culture and traditions. Handmade orecchiette, caputi pasta, braid pasta, Tartufo ice-cream, laksa, rendangs, tuna tataki, baked unagi, vegetable sukiyaki, and other dishes appear eye-catching. Gourmet salts are used in the preparation of authentic dishes and are sprinkled over latte and ice creams," adds Akash
Increasing viewership of food and cookery shows
Increasing number of cookery shows involving new recipes has led to an increase in at-home cooking. It has fueled the demand for sauces, dressings, and condiments. It has been found that the average time spent watching television in the US is more than 5 hours a day. Cookery shows on television, such as Parts Unknown, A Cook Abroad, I'll Have What Phil's Having, Cooked, Top Chef, and MasterChef, and on-demand entertainment services, such as Netflix, have promoted the trend of cooking at home.
Cooking at home is highly preferred by cost-conscious consumers as it reduces the expenditure on food. This has led to a decline in restaurant visits and spending on food products at foodservice outlets. American cooking television series, such as Top Chef and MasterChef US, motivate people in the US to experiment and cook at home.
Top vendors:
- Cargill
- SAN FRANSISCO SALT COMPANY
- Saltworks
- Morton Salt
- Devonshire Gourmet salts
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