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Magnesium Lactate Market

Magnesium Lactate Market

Magnesium Lactate Market Analysis Report By Grade (Food Grade, Pharmaceutical Grade, Industrial Grade), By Application (Food & Beverages, Pharmaceuticals, Agrochemicals), By Region - Global Insights 2022 to 2032

Magnesium Lactate Market
FACT1277MR

Global Magnesium Lactate Market Outlook

The global magnesium lactate market is estimated at USD 48.3 Million in 2022 and is forecast to surpass USD 107.7 Million by 2032, growing at a CAGR of 8.3% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 44.8 Million

Estimated Year Value (2022E)

USD 48.3 Million

Projected Year Value (2032F)

USD 107.7 Million

Global Growth Rate (2022-2032)

 CAGR 8.3%

North America Market Share in 2021

~27%

North America Growth Rate (2022-2032)

CAGR ~8.5%

Collective Value Share (US, China, India) 2022: Top 3 Countries

~35%

Top 5 Companies Market Share in 2021

~19%

Key Companies Profiled

  • Corbion N.V.
  • American Elements
  • Jungbunzlauer Suisse AG
  • Dr. Paul Lohmann GmbH KG
  • ISALTIS
  • Magnesia GmbH
  • Jost Chemical Co.
  • PMP Fermentation Products, Inc.
  • K+S Akentiengesellschaft
  • Fengchen Group Co. Ltd.
  • Other Market Players

The global magnesium lactate market is likely to create an absolute dollar opportunity of USD 59.4 Million by the end of 2032. The global magnesium lactate market holds ~17% of the global lactate salts market.

2017-2021 Global Magnesium Lactate Market Outlook in Comparison to 2022-2032 Growth Forecast

Magnesium lactate, obtained from lactic acid, has been gaining popularity, which can be attributed to the myriad of benefits it provides to the human body. Sales of magnesium lactate have been gaining momentum on account of its abundance availability.

Magnesium lactate have been witnessing an uphill trend of adoption in industries such as agrochemicals, pharmaceuticals, cosmetics, dairy, and functional foods for yielding better quality to the food products and drugs. In addition to this, the dietary supplements including magnesium lactate are available over-the-counter as well as with prescription, which has only intensified their sale probabilities.

Fact.MR projects the magnesium lactate market is expected to witness exhibiting growth at 8.3% CAGR during 2022 and 2032 in comparison to a CAGR of 6.0% with which it grew from 2017 and 2021.

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Magnesium Lactate as a Dietary Supplement is Gaining Traction

Potassium deficiency found among consumers, which leads to fatigue, loss of appetite, muscle weakness, diabetes, severe burns, and even heart failures have increased the importance of dietary supplements. As a result, consumers are gravitating towards various dietary supplements to ensure a balanced diet, which is predicted to significantly influence the size of the magnesium lactate market.

Growth of the magnesium lactate market is also upheld by the food and beverage industry, where the mineral salt is used as an acidity regulator and food additive. Owing to the increasing health consciousness among consumers, many restaurants and cafes have been experimenting with the healthy substitutes of food, which is anticipated to fuel the growth of magnesium lactate market in the forthcoming years.

Demand for Fortified Crops to Influence the Sales of Magnesium Lactate

Growing concerns pertaining to the degrading agricultural productivity have encouraged the government to increase the utilization of magnesium lactate for controlling malnutrition and hunger. This has promoted the use of macro and micro-nutrients, like magnesium lactate, to yield better quality of crops. Recommendations of WHO for the adoption of these fortified crops, on account of their underlying health benefits have only fueled their demand further, which is expected to deliver profitable growth opportunities to the magnesium lactate market.

China and India took a cue from the benefits of magnesium lactate and incorporated biotechnology to enhance the agricultural production. These trends are being imitated by the countries of the Middle East and Africa. In addition, the U.S. and Europe being the exporters of fortified flour are anticipated to drive steady growth to the magnesium lactate market.

An Adaptive Approach to Modern-day Research Needs

Regulatory Impact on Magnesium Lactate

The government policies and regulations are likely to impact the production of magnesium lactate. Owing to the impact of specific medicinal drugs on the society and the side effects, the need for regulations has risen over the years. Magnesium Lactate can cause serious environmental harm when taken in very large amounts and the excessive use of fertilizers is harmful to not only humans but to animals as well.

Therefore, regulators are working to protect the environment and making provision for federal regulation of pesticide distribution, sale, and use. Thus, all above factors are estimated to support magnesium lactate market by 0.8X over the assessment period of 2022-2032.

Competitive Landscape: Top Companies in Magnesium Lactate Market

The global magnesium lactate market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the growth of magnesium lactate.

Fact.MR has provided detailed information about price points of key manufacturers in magnesium lactate market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  • Corbion N.V. in 2019 acquired Granotec do Brazil. This acquisition is likely to drive expansion in food ingredients in the region of Latin America. This will aid in the positive development of the business and provide a platform serving customers better
  • K+S Akentiengesellschaft entered into an agreement with Kalium Lakes in 2019, got an access to production of potassium sulfate in Australia, which will aid in the expansion of specialty business. The agreement is for 10 years and will provide for additional quantities of potassium sulfate to supplement product range

Global Magnesium Lactate Market by Category

  • By Grade, Global Magnesium Lactate Market is segmented as:

    • Food Grade Magnesium Lactate
    • Pharmaceutical Grade Magnesium Lactate
    • Industrial Grade Magnesium Lactate
  • By Application, Global Magnesium Lactate Market is segmented as:

    • Food & Beverages
    • Pharmaceuticals
    • Agrochemicals
    • Personal Care & Cosmetics
    • Others
  • By Region, Global Magnesium Lactate Market is segmented as:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global value of magnesium lactate market is estimated to be worth over USD 48.3 Million in 2022.
The demand is anticipated to surpass USD 107.7 Million by 2032 end.
During 2017-2021, global magnesium lactate market grew at 6.0% CAGR.
Some of the prominent players in magnesium lactate market are Corbion N.V., American Elements, Jungbunzlauer Suisse AG, Magnesia GmbH, Jost Chemical Co., etc.
North America tops the global magnesium lactate market accounting for 26.9% of global market share in 2022.
Food grade magnesium lactate segment under the grade segment contributes 41.2% of market share in global sales of magnesium lactate.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

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