According to The Freedonia Group's new study, Global Salt, 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.
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.
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