Magnesium Lactate Market

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

Magnesium Lactate Market Segmented By Food Grade Magnesium Lactate, Pharmaceutical Grade Magnesium Lactate, Industrial Grade Magnesium Lactate

About the Report

The magnesium lactate market has witnessed substantial growth in the last few years, which is projected to continue over the next ten years as well, owing to increasing use in day-to-day life in the form of supplements, food, and beverages due to its nutritional properties.

Growing health consciousness among the urban population will create scope for application, encouraging market growth over the coming years. Furthermore, rising demand for fortified crops is expected to be another major driver for the market. Growing concerns pertaining to degrading agricultural productivity have encouraged governments to increase the utilization of magnesium lactate for controlling malnutrition and hunger.

In its latest study, Persistence Market Research offers insights about key factors fueling the demand for magnesium lactate. The report tracks global sales in 20+ high-growth markets, where demand is high across the regions of Asia, MEA, North America, and Europe.

It also analyzes the impact COVID-19 has had on the demand for magnesium lactate. This edition (2021-2031) brings readers up-to-date with key market developments, providing analysis on how manufacturers and other stakeholders are reacting to change. Key industry metrics have been captured, and their impact on industrial explosive sales has been analyzed.

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Companies

  • 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.

Historical Trends Vs Future Market Outlook

Side-effects of magnesium lactate due to its intake have always been one of the prime concerns of end users, and constitute a challenge for manufacturers. The market is likely to gain significantly because of increase in demand for health supplements. Increase in the urban population and rising healthcare spending across the globe will generate more demand of magnesium lactate.

Some of the leading manufacturers have already started producing specific application-based magnesium lactate products, and several others are likely to follow suit to keep pace with the dynamic environment.

Magnesium lactate application has been consistently increasing, especially in food & beverage and pharmaceutical industries, as it plays a vital part in d maintaining health. Owing to the ongoing crisis caused by the COVID-19 pandemic, production and supply chain activities have seen a minor slump, yet, the condition will improve with economic recovery post the containment period following the pandemic.

The COVID-19 pandemic has had a severe impact on the global economy at various levels, and the impact is seen on the manufacturing industry as well. Demand for magnesium lactate is also projected to be affected by the COVID-19 pandemic crisis, which witnessed a significant plunge in 2020.

With a number of end users affected in regions such as East Asia, Europe, and Asia Pacific, a slight drop in Y-O-Y growth is expected, yet, Persistence Market Research expects the market to bounce back an expand at close to 9% CAGR through 2031.

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What is the Commercial Potential of Magnesium Lactate?       

Growing awareness about health & fitness and increasing need for fortified crops are resulting in rising demand for magnesium lactate. Furthermore, growing consumption of nutritional supplements is having a positive influence on the demand for magnesium lactate.

Increasing expenditure on healthy lifestyle, rising disposable income levels, and improved standards of living are estimated to have a positive influence on the market. Rise in demand for food supplements, need for increased agriculture productivity, and increase in number of beauty and personal care products have made magnesium lactate gain immense popularity across various sectors.

Growing concerns pertaining to degrading agricultural productivity have encouraged governments to increase the utilization of magnesium lactate for controlling malnutrition and hunger. This has promoted the use of macro- and micro-nutrients such as magnesium lactate to yield better quality of crops.

Recommendations by WHO for the adoption of these fortified crops, on account of their underlying health benefits, have only fueled demand further, which is expected to deliver profitable growth opportunities magnesium lactate manufacturers.

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What is the Regulatory Impact on Global Sales of Magnesium Lactate?

A key number of regulations and government policies are expected to impact the production of magnesium lactate. These need for regulations has risen from the impact of specific medicinal drugs on the society, and due to their side effects. In some people, magnesium might cause stomach upset, nausea, vomiting, diarrhea, and other side effects.

When taken in very large amounts, magnesium lactate, as a medicine, is potentially unsafe. Large doses might cause too much magnesium to build up in the body, causing serious side effects such as irregular heartbeat, low blood pressure, confusion, slowed breathing, coma, and even death.

Along with other agrochemicals, magnesium lactate can also cause environmental harm. Excessive use of fertilizers has contributed to nitrate pollution, a chemical compound that is harmful to humans and animals, in large amounts. Furthermore, rivers polluted with fertilizers may increase algae production, and this may have an adverse effect on the life cycle of fish and other aquatic animals.

Regulators are working to protect the environment, such as primary federal statutes that give EPA the authority to regulate pesticides - Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) and the Federal Food, Drug, and Cosmetic Act (FFDCA) and the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), which provide for federal regulation of pesticide distribution, sale, and use. All pesticides distributed or sold in the United States must be registered (licensed) by EPA.

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Country-wise Insights

Why is Demand for Magnesium Lactate Growing in India?

India is expected to account for a significant share in the industry, owing to growing government initiatives to strengthen the agricultural sector and enhance agricultural productivity to control malnutrition and hunger. This is driving demand for macro- and micro-nutrients such as magnesium lactate to produce better quality of crops.

India is promoting the cultivation of fortified crops and is using biotechnology to enhance the quality of crops. This is expected to provide enhanced growth opportunities for the expansion of the magnesium lactate industry in the country. India doubled agricultural production by the incorporation of biotechnology, and this trend is being slowly being incorporated in other countries as well.

Fortification has also been focused on in flour processing plants/factories. Wheat flour, corn flour, and rice flour are being widely fortified, and this nutrient enhancement in crops has also added to rise in overall crop consumption. This, in turn, has created high demand for fortification using mineral salts such as magnesium lactate, zinc lactate, and other micro nutrients, in the country.

Why is China Attracting Magnesium Lactate Manufacturers?

China has attracted several global manufacturers since the past few years. One of the key factors supporting enhancement is due to increase in the population. The country is now seen as the largest market for magnesium lactate in the world.

Rapid advancements in the country provide fruitful opportunities for manufacturers. A notable contribution comes from increasing population and the growing food & beverage industry in the country, which are directly related to the sales of magnesium lactate.

Attributing to these factors, China remains one of the largest markets for magnesium lactate in the world, which invariably makes it a lucrative pocket for manufacturers.

What is Driving Demand for Magnesium Lactate in the U.S.?

The U.S. market is driven significantly by increasing use of agrochemicals. The market here is highly regulated, with the US Environmental Protection Agency (EPA) playing a key role in the monitoring and commercialization of chemical products.

In recent times, rise in environmental concerns and waste management issues have led to a shift in the focus of consumers toward sustainable and environment-friendly chemicals. Due to these factors, regulatory authorities, such as EPA, are increasingly opting for biodegradable products and focusing on increasing consumer awareness regarding the need for use of biodegradable products.

Is Demand for Magnesium Lactate Increasing in Germany?

Germany is a major manufacturer of magnesium lactate. The country has a number of manufacturers such as K+S Aktiengesellschaft, Lehmann & Voss & Co, Dr. Paul Lohmann Gmbh KG, and others. Germany has also shown an increase in consumption of magnesium lactate for pharmaceutical and agricultural applications. Food and beverage application will continue to show its dominance throughout the forecast period in the country.

Category-wise Insights

Which Grade of Magnesium Lactate is Expected to Dominate Demand?

By grade, food grade magnesium lactate is expected to account for nearly half of the global market share. The segment is expected to retain its dominance over the forecast period; however, it is expected to exhibit the lowest CAGR in terms of value over the forecast period.

Pharmaceutical grade magnesium lactate is anticipated to expand at the highest rate, as it is a necessity in today’s era due to increase in awareness regarding health. In addition, there is increasing demand for supplements, which is creating more opportunity for magnesium lactate.

Which Application of Magnesium Lactate Will be Most Attractive?

The food & beverage segment is anticipated to dominate demand for magnesium lactate, and is estimated to account for nearly half of the market value share. Under this segment, functional foods is anticipated to hold the highest share as they are characterized by the health benefit properties that they contain.

This segment is expected to be followed by the pharmaceutical segment. Growing trend for healthy lifestyle is expected to act as a catalyst to the growth of the food and pharmaceutical segments during forecast period.

Competitive Landscape

The magnesium lactate market is a significantly competitive and fragmented in nature, with players offering competitively priced products. Leading manufacturers are focusing on strengthening partnerships with major distributors and long-term contracts with end users.

Furthermore, manufacturers are also expanding their production capacity to cater to increasing demand for various applications. They are developing products that are highly effective and have less side effects.

Some of the leading companies operating in the market are:

  • 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
  • Fengchen Group Co., Ltd

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

  • USD Thousand for Value
  • Tons for Volume

Key Regions Covered

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

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Vietnam
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Segments Covered

  • Grade
  • 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
  • Fengchen Group Co., Ltd

Report Coverage

  • Market Forecast
  • brand share analysis
  • competition intelligence
  • DROT analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Market Segmentation by Category

Grade

  • Food Grade Magnesium Lactate
  • Pharmaceutical Grade Magnesium Lactate
  • Industrial Grade Magnesium Lactate

Application

  • Magnesium Lactate for Food & Beverages
    • Dairy Products
    • Beverages
    • Functional Foods
    • Others
  • Magnesium Lactate for Pharmaceuticals
  • Magnesium Lactate for Agrochemicals
  • Magnesium Lactate for Personal Care & Cosmetics

Region

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

Key Questions Answered in Report

  • What is the growth rate of the market?

    The global market is being aided by the rising magnesium supplement industry, and is projected to expand at a CAGR close to 9% from 2021 to 2031.

  • What are the major industry drivers?

    Major drivers of the industry, such as rising disposable income, increasing population, rising demand for dietary and nutritional supplements, increasing adoption of healthy lifestyle, enhanced living standards, and rising demand for premium food products, are expected to aid market growth.

  • What are key trends in the market for magnesium lactate?

    Key trends shaping the growth of the market include favourable government initiatives and growing demand for macro- and micro-nutrients.

  • Which are some of the leading companies providing magnesium lactate?

    Major players in the industry are Corbion NV, Jungbunzlauer Suisse AG, Isaltis Inc., Fengchen Group Co., Ltd, and Axiom Chemicals Pvt. Ltd., among others.

  • Which grade is driving the sales of magnesium lactate?

    Food grade magnesium lactate is anticipated to maintain its dominance over the forecast period.

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