CLEVELAND, Oct. 1, 2019 /PRNewswire/ -- According to The Freedonia Group's new Global Salt study, demand for salt is forecast to reach 346 million metric tons in 2023. The chemical processing market will account for the vast majority of that demand, as salt is a key component in the production of chlorine, caustic soda, and synthetic soda ash. Salt sales will also be supported by food processors and livestock feed manufacturers, as the consumption of packaged foods and animal proteins increases in tandem with incomes in developing countries.
More information regarding the study is here: https://www.freedoniagroup.com/industry-study/global-salt-W1003.htm
While all global regions will see increasing demand for salt:
- The Asia/Pacific region will remain the largest regional market as a result of the country's massive chemical, textile, and pharmaceutical industries.
- Salt demand will grow at the fastest rate in the Africa/Mideast region, driven by a shift away from natural resource extraction as the region's main economic driver toward industrial diversification.
Solar evaporation will remain the most popular production method for salt, as the warm and sunny climates found in parts or all of Central and South America, the Asia/Pacific region, and the Africa/Mideast region lend themselves to this process.
Want to Learn More About Salt?
Global Salt, a new study from The Freedonia Group, analyzes the global salt market, presenting historical demand data (2008, 2013, and 2018) and forecasts for 2023 by production method (solar evaporated salt, rock salt, brine, and vacuum evaporated and other methods), market (chemical processing, road deicing, food processing, livestock, and other markets), and regions (North America, Central and South America, Western Europe, Eastern Europe, Asia/Pacific, and Africa/Mideast). The study also provides company market share and analysis of competitive technologies and trends.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group