February 7th, 2023
The global inorganic salts market size is anticipated to hit USD 299.99 billion by 2028 and exhibit a CAGR of 7.2% during the forecast period. The rising demand for pharmaceuticals and inorganic metal salts’ adoption is expected to fuel the market growth. The market size stood at USD 172.34 billion in 2020 and USD 184.76 billion in 2021.
Information source: https://www.fortunebusinessinsights.com/inorganic-salts-market-106588
Additionally, the rising demand for nitrogen-rich salts, such as ammonium salts, to make fertilizers is expected to boost the market growth. The increasing crop yield demand due to expanding population and its growing food demand is expected to augment the demand for fertilizers and foster market growth in the coming years.
Application and Region are Studied
On the basis of application, the market is categorized into agriculture, pharmaceutical & personal care, food industry, chemicals, and others. Geographically, the market is classified into Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.
It highlights key growth drivers and suggests strategies to overcome the restraints to market growth.
It includes companies profiled according to their market rankings and the strategies adopted by them to stay at the top of the game.
It highlights the impact of the COVID-19 pandemic on the market.
It incorporates SWOT Analysis and Porters’ Five Forces Analysis for accurate market prediction.
It includes the latest industry developments.
Drivers & Restraints-
Rising Demand by Pharmaceutical Sector to Fuel Market Growth
Inorganic salts are widely used by the pharmaceutical sector. These salts are vital for our body's functioning and metabolism. For instance, these salts in plasma help in maintaining the balance of potassium and sodium in cells. The increasing demand for health drinks with inorganic salts is anticipated to boost the inorganic salts market growth. Moreover, the growing instances of autoimmune and oncological diseases are escalating the demand for medicines and drugs, which is expected to uptick market growth in the coming years.
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