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Magnesium Lactate Market on the Rise and Predicted to Cross US$ 44.80 Billion by 2033, with a steady growth rate of 8.2%: Persistence Market Research

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

New York, Aug. 18, 2023 (GLOBE NEWSWIRE) — The global market for magnesium lactate is anticipated to be valued at US$20.37 Billion by 2023. Magnesium lactate market value is expected to reach US$ 44.80 Billion by 2033, with a steady growth rate of 8.2%.

Executive Summary

The global magnesium lactate market has witnessed steady growth in recent years, driven by the increasing demand for dietary supplements, functional foods, and pharmaceuticals. Magnesium lactate, a magnesium salt of lactic acid, is valued for its health benefits and versatile applications. This report provides a detailed analysis of the global magnesium lactate market, examining key trends, growth drivers, challenges, and future prospects.

Introduction

Magnesium lactate is a chemical compound derived from lactic acid and magnesium carbonate. It is widely used in the food and beverage industry as a mineral supplement and acidity regulator. Additionally, magnesium lactate finds applications in the pharmaceutical sector for its potential therapeutic effects. The market’s growth is propelled by the expanding consumer awareness of magnesium’s health benefits and its incorporation into various products.

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Market Growth

The growth of the market is being driven by a number of factors, including:

  • Increasing demand for magnesium supplements, as magnesium is essential for many bodily functions, such as muscle and nerve function, blood pressure regulation, and bone health.
  • Growing use of magnesium lactate in the food and beverage industry as a preservative, acidity regulator, and flavoring agent.
  • Increasing use of magnesium lactate in the pharmaceutical industry as a drug excipient and in the production of medicines for a variety of conditions, such as muscle cramps, insomnia, and anxiety.
  • Rising demand for magnesium lactate in the cosmetics industry as a moisturizing agent and in the production of skin care products.

Market Trends and Opportunities

The global magnesium lactate market is expected to continue to grow in the coming years. Some of the key trends and opportunities that are expected to drive the growth of the market include:

  • Increasing demand for magnesium supplements
  • Growing use of magnesium lactate in the food and beverage industry
  • Increasing use of magnesium lactate in the pharmaceutical industry
  • Rising demand for magnesium lactate in the cosmetics industry
  • Development of new applications for magnesium lactate

Market Overview

The global magnesium lactate market is characterized by the following factors:

  • Nutritional Supplements: Magnesium lactate is a popular ingredient in dietary supplements, owing to its role in supporting bone health, muscle function, and overall wellness.
  • Functional Foods and Beverages: The market benefits from the inclusion of magnesium lactate in functional foods and beverages, addressing consumer demands for healthier choices.
  • Pharmaceutical Applications: Magnesium lactate is explored for its potential pharmaceutical applications, including its role in managing magnesium deficiency and certain medical conditions.

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Key Players

The key players in the global magnesium lactate market include:

  • Corbion N.V.
  • American Elements
  • Jungbunzlauer Suisse AG
  • Dr. Paul Lohmann Gmbh KG
  • ISALTIS
  • Magnesia Gmbh
  • Jost Chemical Co.
  • Lehmann & Voss & Co and many more

Recent Developments

here are some recent developments of companies in the magnesium lactate market,

  • Corbion, a Dutch company, announced in 2022 that it had expanded its production capacity for magnesium lactate by 50%. The expansion is expected to meet the growing demand for magnesium lactate in the food and beverage, pharmaceutical, and cosmetics industries.
  • American Elements, a US company, launched a new line of magnesium lactate products in 2023. The new products are available in a variety of grades and forms, to meet the needs of different applications.
  • Jungbunzlauer Suisse, a Swiss company, announced in 2022 that it had developed a new process for the production of magnesium lactate. The new process is more efficient and environmentally friendly than traditional methods.
  • Dr. Paul Lohmann, a German company, launched a new line of magnesium lactate products for the pharmaceutical industry in 2023. The new products are designed to meet the stringent quality requirements of the pharmaceutical industry.

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Market Segmentation

The global magnesium lactate market can be segmented based on various factors:

  • Type: This includes anhydrous magnesium lactate and magnesium lactate dihydrate, each with specific applications and characteristics.
  • Application: Segmentation by application covers dietary supplements, food and beverages, pharmaceuticals, and others.
  • End-User: The market serves industries such as healthcare, food and beverages, and pharmaceuticals.

Regional Analysis

The magnesium lactate market spans regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Market dynamics vary across regions due to differences in consumer preferences, dietary habits, and regulatory frameworks.

About PMR – Chemicals and Materials

The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on ‘green alternatives’, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – ‘The Way Forward’. 

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Originally published at https://www.einpresswire.com/article/650689902/magnesium-lactate-market-on-the-rise-and-predicted-to-cross-us-44-80-billion-by-2033-with-a-steady-growth-rate-of-8-2-persistence-market-research

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