Global salt industry
The global salt industry recorded a single-digit YoY growth in 2020, and a single-digit Compound Annual Growth Rate (CAGR) between 2017-20.
The value of the global food and groceries market grew by a significant percentage in 2020, as a result of the COVID-19 pandemic, with increased demand driven by precautionary buying and a spending shift from foodservice channels. The market is expected to follow a decelerating growth trajectory during the rest of the forecast period as the growth of demand is set to decelerate in line with the receding of uncertainty and the shift of consumption gains back to on-trade channels.
The impact of COVID-19 on the food and grocery market during 2020 was evident through increased demand in supermarkets and other grocery retailers. In particular, the demand for food, as a basic necessity, was even stronger, with consumers’ fear of food shortages due to supply chain disruptions driving panic-buying in the first few weeks of the pandemic. Even throughout the rest of the year, demand remained high compared to the previous years, with consumers precautionary buying more than what they need, stockpiling long shelf-life food and household products amid uncertainty, and limited trips to stores.
Who are the leading players in the global salt market?
McCormick, Tata Sons Limited, Unilever, The Kraft Heinz Company, and Ajinomoto Group held the top five leading market positions in the global salt industry. The top five players held a significant market share in the global salt industry in 2020.
Tata, Lawry`s, McCormick, and Ajinomoto were the leading brands in the salt industry.
Salt, also called common salt or table salt is defined as a colorless or white crystalline solid used extensively in ground or granulated form to cure or preserve food.
McCormick was the leading company (by value) in the global salt market in 2020, with more than 5 brands under its trademark. Lawry`s was the biggest contributor to the company’s global salt sales.
Tata Sons Limited ranked second in the global salt industry
Tata Sons Limited was the second largest company (by value) in the global salt market in 2020. Unilever, The Kraft Heinz Company, and Ajinomoto Group were among some of the other prominent companies in the global salt market, owning major brands like Annapurna, and Ajinomoto, respectively.
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