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Magnesium Lactate Market

Global Market Study on Magnesium Lactate: Rising Demand for Health Supplements Aiding Growth of Manufacturers

Magnesium Lactate Market by Grade Type (Food Grade, Pharmaceutical Grade, Industrial Grade)

Global Magnesium Lactate Market Snapshot

According to Persistence Market Research's most recent market estimate, the global market for magnesium lactate is anticipated to be valued at US$ 20,371.7Mn by 2023. Magnesium lactate market value is expected to reach US$ 44,802.3 Mn by 2033, with a steady growth rate of 8.2%.

Magnesium Lactate sales (2022A)

US$ 18,830.4 Mn

Magnesium LactateDemand (2023E)

US$ 20,371.7 Mn

Magnesium Lactate Market Projections (2033F)

US$ 44,802.3 Mn

Value CAGR (2023-2033)

8.2%

Collective Value Share: Top 3 Countries (2023E)

34.1%

Magnesium lactate is the common lactic acid salt with the formula C6H10MgO6. It is a naturally occurring mineral that the body needs to keep the digestive system, nervous system, and heart healthy. As a result, it is commonly used as a mineral supplement to treat magnesium deficiency as well as an acidity regulator in a variety of foods and beverages. It is used in many different industries because of its nutritional worth and other attributes.

The growing demand for dietary or nutritional supplements to ensure a balanced diet is driving the demand for magnesium lactate. Owing to the growing concern for human health in countries in need of nutrients has been the focus of the World Health Organization. This is supported by the growing adoption of a healthy lifestyle and increasing awareness regarding the importance of macro and micronutrients in the human body.

On the other hand, During the projected period, the demand for fortified crops in the agricultural sector is anticipated to be the main market driver for magnesium Lactate. The government is using more magnesium lactate to combat malnutrition and hunger as a result of growing concerns over declining agricultural yield.

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Historical (2017-22) v/s Forecast (2023-33) Market Outlook for Magnesium Lactate Market

According to the historical analysis, the market for Magnesium Lactate expanded at a compound annual growth rate (CAGR) of 6.5% from 2017 to 2022. The COVID-19 pandemic caused a minor drop and supply chain operations, but consumption will increase once the economy recovers after the pandemic has been contained. The COVID-19 pandemic has had a detrimental influence on the world economy on a variety of various levels, which has also affected agrochemicals, and the Food and beverage industry.

The market for Magnesium Lactate is anticipated to advance with substantial CAGR of 8.2% over the forecast timeframe. The global cosmetic production is expected to have a high impact on the Magnesium lactate market. The personal care segment, in particular, is expected to witness high growth owing to its increasing popularity as a cosmetic ingredient. On the other hand, Agriculture and Food industries are well-established in regions such as East Asia, South Asia, Europe, and North America. Increasing demand for its use in these industries as ingredient is generating extensive demand for magnesium lactate.

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Market Dynamics

Thriving demand for Dietary Supplements creates ample space for Magnesium Lactate.

The growing requirement for dietary or nutritional supplements to provide a balanced diet is what is driving the need for magnesium lactate. People are leading healthier lifestyles and are more cognizant of the importance of macro- and micronutrients for human health. Additionally, the availability of these supplements over-the-counter and without a prescription has significantly boosted sales.

Due to consumer potassium deficiency, which can result in appetite loss, weariness, severe burns, muscle weakness, diabetes, and even heart failure, the necessity for dietary supplements has increased. Consumers are turning to a range of nutritional supplements to ensure a balanced diet, which is projected to have a significant impact on the growth of the magnesium lactate market.

Significant Market Traction from Fortified Crops to Augment the Market Growth for Magnesium Lactate

To address hunger and malnutrition, the government is employing more magnesium lactate as a response to mounting concerns over dwindling agricultural productivity. Growing crops of superior quality have pushed the usage of macro- and micronutrients like magnesium lactate. The demand for them has tremendously increased as a result of the WHO's recommendations to adopt these fortified crops due to their intrinsic health benefits, which are projected to generate profitable expansion opportunities for the magnesium lactate market.

The widespread fortification of corn, wheat, and rice flours with additional nutrients has contributed to the rise in crop consumption overall. The WHO's efforts to inform people about the advantages of fortified foods and the need for them are strong support for this. Manufacturers have noticed a continuous increase in demand from the U.S. and Europe, where the fortified flours are often imported from. High demand for fortification utilizing mineral salts like magnesium lactate, zinc lactate, and other micronutrients has been resulting from this.

Side Effects On Exposure Of Magnesium Lactate To Hamper The Growth Of The Market

The adverse effects of magnesium may include nausea, vomiting, diarrhea, and upset stomach. For the majority of individuals, daily doses under 350 mg are safe. Magnesium lactate may be dangerous when used as a medication in excessively large doses.

Large amounts could result in an accumulation of too much magnesium in the body, which could have dangerous side effects including an irregular heartbeat, low blood pressure, confusion, sluggish breathing, coma, and death. Even though it might be uncommon, some people who use drugs could experience very serious, even fatal, adverse effects.

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Country-wise Insights

What is the market scenario of Magnesium Lactate in the APAC region countries market?

APAC Nations are expected to be major stakeholder countries in the global magnesium lactate market in terms of value and volume due to the increased demand from application sectors such as food and beverage, personal care and cosmetics, agrochemicals, and others.

Magnesium lactate sales are anticipated to increase in China at a constant 9.1% annual growth rate. Due to key players' increasing investment activity across a variety of application sectors, particularly in the food, beverage, and personal care industries, during the anticipated timeframe. Aside from China, there has been a significant increase in demand for magnesium lactate in Japan, South Korea, and other ASEAN nations due to rising consumer demand for dietary supplements, and Japan and South Korea's large manufacturing bases are to blame for the market's large share and rapid expansion.

What Is the Growth Outlook of the Magnesium Lactate Market in India?

India is anticipated to grow at a healthy growth rate of 9.4% and is now seeing lucrative growth in the global magnesium lactate market as a result of increased investment in improving the capacity of the Agriculture sector.

The government's increased initiatives to aid the agriculture industry and raise agricultural output to fight hunger and poverty. This is driving up demand for macro- and micronutrients like magnesium lactate to grow higher-quality crops. India uses biotechnology to enhance the quality of its harvest and promotes the growth of fortified crops. The nation's magnesium lactate business is predicted to benefit from better growth opportunities as a result.

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Category-wise Insights

What is the demand outlook for the food grade in the Magnesium Lactate Market?

Magnesium lactate is available in three grade classifications, which are food grade, pharmaceutical grade, and industrial grade. Magnesium lactate is expected to predominate the food-grade market. The industry is expected to continue to dominate during the anticipated timeframe, with a value share of 46.40% in the global market. Employing equipment and gadgets that are food-grade is essential since products regularly come into contact with the equipment used to create food products. Magnesium lactate is used as a mineral source in foods, supplements, and beverages to meet specific nutritional goals.

How does the Pharmaceutical Industry segment fairing in the Magnesium Lactate Market?

Estimates indicate that the pharmaceutical industry uses 23.7% of the magnesium lactate produced globally. It is referred to as any medication, biologic, or reagent-whether active or inactive-for which a recognized national or local pharmacopeia has established a chemical purity standard.

People used it to treat heartburn, indigestion, and stomach discomfort caused by too much stomach acid. Magnesium is essential for the heart, bones, cells, muscles, and neurons to function properly. Magnesium levels in the blood are frequently optimal as a result of a balanced diet. Low levels of magnesium in the blood can be treated and prevented with a dietary supplement called magnesium lactate. therefore, the demand for magnesium lactate is getting high traction in the market and it will continuously spike during the forecast period.

Competitive Landscape

Market Players from all over the world are investing money to enhance their capacity to generate magnesium lactate to meet the increased expectations of end users. The numerous technological developments and the big competitors' increased efforts to expand through mergers, strategic alliances, and partnerships have opened up a wide range of market prospects. Players are working incredibly hard to create and put into practice cutting-edge technological advances to stay one step ahead of the competition. All of these trends imply that the magnesium lactate market has enormous potential for global expansion in the years to come.

For instance,

In 2021, Corbion N.V. announced that Corbion is beginning a multidimensional initiative to greatly increase its capacity for producing lactic acid and lactic acid derivatives before its previously announced significant expansion in Thailand, which is anticipated for 2023.

In 2020, ISALTIS companies Mineralis Gu / Mg (INCI: Magnesium Gluconate) got COSMOS approved for use in organic cosmetic foMineralsineralis Gu / Mg is an organic salt of magnesium that takes care of the skin microbiome, especially sensitive skin.

Scope of Report

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2017-2022

Market Analysis

  • USD Million for Value
  • Tons for Volume

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • ANZ
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Segments Covered

  • Grade type
  • Application
  • Region

Key Companies Profiled

  • Corbion N.V.
  • American Elements
  • Jungbunzlauer Suisse AG
  • Dr. Paul Lohmann Gmbh KG
  • ISALTIS
  • Magnesia Gmbh
  • Jost Chemical Co
  • Lehmann & Voss & Co
  • PMP Fermentation Products, Inc.
  • K+S Aktiengesellschaft
  • Fengchen Group Co., Ltd.

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

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Magnesium Lactate Market Segmentation

By Grade type, the Magnesium Lactate Market is segmented as:

  • Food Grade
  • Pharmaceutical Grade
  • Industrial Grade

By Application, the Magnesium Lactate Market is segmented as:

  • Food & Beverage
    • Dairy Products
    • Beverages
    • Functional Foods
    • Others
  • Pharmaceuticals
  • Agrochemicals
  • Personal Care & Cosmetics

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

- Companies Covered in This Report -

  • Corbion N.V.
  • American Elements
  • Jungbunzlauer Suisse AG
  • Dr. Paul Lohmann Gmbh KG
  • ISALTIS
  • Magnesia Gmbh
  • Jost Chemical Co.
  • Lehmann & Voss & Co
  • PMP Fermentation Products, Inc.
  • K+S Aktiengesellschaft
  • Fengchen Group Co., Ltd.

- Frequently Asked Questions -

The global market of Magnesium Lactate is estimated to reach a valuation of US$ 20,371.7 Mn in 2023.

The Magnesium Lactatedemand is anticipated to witness a growth rate of 8.2% over the forecast period of 2023 and 2033 in terms of value.

According to PMR analysis, Corbion N.V.,American Elements,Jungbunzlauer Suisse AG,Dr. Paul Lohmann Gmbh KG, ISALTIS, Magnesia Gmbh, Jost Chemical Co, Lehmann & Voss & Co, PMP Fermentation Products, Inc., K+S Aktiengesellschaft, Fengchen Group Co., Ltd. others are identified as the key manufacturers in the Magnesium Lactate Market.

Key players in the global Magnesium Lactate Market are expected to account for about 55-60% of the overall market share.

The top countries driving the global Magnesium Lactatedemand are the U.S., Germany,  and Japan.

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