According to the report, the global jalapeno salt industry generated $965.10 million in 2020, and is anticipated to generate $1.8 billion by 2030, witnessing a CAGR of 6.6% from 2021 to 2030.
Prime determinants of growth
Increase in popularity of jalapeno salt in fast food restaurants such as McDonalds, Burger King, Wendy’s, and Subway boosts growth of the global jalapeno salt market. Moreover, growth in urban population across the globe is expected to present a potential opportunity for manufacturers of jalapeno salt.
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Leading Market Players
- The J.C. Spice Company
- Dave’s Jalapeno Salt
- Hippy Pilgrim
- Bolner’s Fiesta Products, Inc.
- Home and Heritage
- Bacon Salt
- Lesley Elizabeth, Inc
- Caribbean Spice Belize
- Caravel Gourmet
- Olde Thompson
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global jalapeno salt market, owing to temporary closure of fast food restaurants.
- Also, the production of jalapeno salt was temporarily halted. Supply chain disruptions and unavailability of labor force, at the same time, created more challenges, which in turn, hampered the market growth.
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The lime segment to maintain its leadership status throughout the forecast period
Based on flavors, the lime segment held the highest market share in 2020, accounting for nearly two-fifths of the global jalapeno salt market, and is estimated to maintain its leadership status throughout the forecast period. This is because it is highly used in seafood, chicken, fish, pork, roasted corn, buttered corn, and fruit & vegetables. Moreover, the bacon segment is projected to manifest the highest CAGR of 8.8% from 2021 to 2030. Jalapeno bacon salt is highly consumed among the consumers who prefer having hot-spicy food. Bacon salt can be utilized as a seasoning salt while grilling. It comes in various different bacon-centric flavors which comprise of original, jalapeno, cheddar, maple, apple wood, hickory, and natural. These factors drive the segment.
The food service segment to maintain its lead position during the forecast period
Based on end users, the food service segment accounted for the largest share in 2020, contributing to nearly three-fifths of the global jalapeno salt market, and is projected to maintain its lead position during the forecast period. This is owing to the increasing adoption of fast. food among consumers. However, the residential segment is expected to portray the largest CAGR of 8.3% from 2021 to 2030, owing to high population growth with rising food consumption.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global jalapeno salt market. This is because companies operating in the North American jalapeno salt market are innovating new products to sustain in the competitive market. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 8.5% during the forecast period, due to rise in urbanization and growth of middle-class consumers in many developing countries.
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