Analysis of Production, Import and Export, and Competitive Landscape of China's Salt Industry in 2024
I. Production Analysis
Overall Production: According to the National Bureau of Statistics and industry reports, China, as the world's largest producer and supplier of raw salt, has maintained steady growth in its raw salt output in recent years. Although specific production data for edible salt throughout 2024 has not been released yet, the overall trend can be inferred from raw salt production figures. For instance, from January to May 2024, China's cumulative raw salt production reached 21.235 million tons, representing a cumulative growth of 4.8%, indicating a positive growth trend.
Regional Distribution: The distribution of raw salt production is uneven across China, with East China topping the list, particularly Shandong Province contributing the most. This regional distribution also reflects the geographical characteristics of China's salt industry.
Product Mix: In terms of China's salt product mix, well and mine salt, sea salt, and lake salt account for 61%, 22%, and 17% respectively, with well and mine salt dominating domestic salt consumption. This product mix showcases the diversity and regionality of China's salt resources.
II. Import and Export Analysis
Import Situation: In the first half of 2024, China's raw salt imports grew by 20.7% year-on-year, indicating an increased demand for imported raw salt. Among these, India was the largest source of imported raw salt, accounting for approximately 77.8%, demonstrating that India is China's primary supplier of raw salt. Additionally, Australia and Mexico are also significant sources of China's raw salt imports.
Export Situation: Compared to imports, China's raw salt exports are relatively low. In the first half of 2024, China exported 179,000 tons of raw salt (another data point indicates 1,789,100 tons, which may involve different statistical calibers or time frames), a decrease of 43.6% year-on-year. The primary export destinations include Japan, South Korea, and Honduras.
III. Competitive Landscape Analysis
Industry Concentration: China's salt production enterprises face fierce competition, with the market characterized by "many, small, scattered, and weak" enterprises, and low industry concentration. According to relevant data, the CR8 (market concentration ratio of the top eight enterprises in the industry) is only 20.37%, indicating a fragmented market.
Key Players: Sinochem Salt Industry Group is China's largest salt producer, with a salt production capacity exceeding 10 million tons per year, occupying a leading position in the market. Additionally, Jiangsu Shuangdeng Salt & Chemical, Yunnan Energy Investment, Sichuan Jiuda Salt Industry, and Jiangsu Jingshen Salt & Chemical are also strong competitors in their respective fields.
Development Trends: With the deepening of the salt industry reform and intensifying market competition, China's salt industry will gradually evolve towards marketization and diversification. Policies are gradually liberalizing the wholesale and retail links of salt, encouraging mergers and acquisitions between salt production and wholesale enterprises, as well as the integration of production and marketing to enhance market concentration and production efficiency. Furthermore, as the concept of healthy eating becomes more prevalent and consumers' demand for healthy salt products increases, low-sodium salt, additive-free salt, and other healthy products will gain more popularity.
In summary, China's salt industry in 2024 has exhibited certain characteristics and trends in terms of production, import and export, and competitive landscape. Looking ahead, with the acceleration of industry consolidation and evolving consumer demands, China's salt industry will embrace broader development prospects and market opportunities.
