Corbion NV, Jungbunzlauer Suisse AG, Isaltis Inc., Fengchen Group Co., Ltd, and Axiom Chemicals Pvt. Ltd., among others, are the major players in the global market for magnesium lactate.
As per the analysis by Expert Market Research, the global magnesium lactate market is being aided by the magnesium supplements industry, which is expected to grow at a CAGR of 7.2% in the forecast period of 2022-2027.
Asia Pacific is one of the major regions of the magnesium lactate industry. Biotechnology is being used by China and India to improve crop quality while boosting the development of fortified crops. Increased growth potential is anticipated as a result of the region's magnesium lactate industry. With the enhancements in the agricultural sector and productivity to control malnutrition and hunger, the product’s demand will increase significantly, thereby boosting the market growth.
The United States and European countries, significant exporters of fortified flour, are also expected to drive the global magnesium lactate market substantially. With the growing demand for food supplements, and dietary and nutritional supplements, there has been a thriving demand for magnesium, thus expected to boost the market in the forecast period.
Favourable government programmes to encourage food fortification and combat mineral shortages will further fuel market expansion. Due to this, the substance is frequently regarded as a crucial addition in the food, beverage, and agrochemical industries. Additional factors supporting the industry's expansion include rising disposable incomes, an improvement in living standards, and a rise in the demand for upscale culinary items. The recent boom in the pharmaceutical business is anticipated to have a beneficial impact on magnesium lactate market growth over the forecast period.
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In addition to being a top provider of emulsifiers, useful enzyme blends, vitamins, minerals, and algal components, Corbion NV is a market leader in the world for goods made from lactic acid and its derivatives. Their products have applications in various sectors like food, home and personal care, animal nutrition, medical devices, pharmaceuticals, and bioplastics.
Jungbunzlauer is one of the leading producers of biodegradable ingredients of natural origin in the world. They provide their customers with healthy, safe, tasty, and sustainable products. The company has a strength of more than 1,250 employees across the world. Some of their products include citric acid, lactic, gluconates, xanthan gum, special salts, and many more. The products have applications in various fields like food and beverage, pharmaceuticals, and cosmetics, among others.
ISALTIS is a fine chemicals group of companies which develops and manufactures organic mineral salts mainly dedicated to life sciences markets like pharma, nutrition, cosmetics, and industrial chemistry like catalysis, pyrotechnics, and automotive. The company owns two production plants in France. More than 60% of their products are being exported to all the continents. ISALTIS and MACCO together are the world’s number 1 manufacturer of high-purity mineral salts.
Fengchen Group Co., Ltd is a reputed and popular manufacturer and supplier of pharmaceutical products, chemicals, and pharmaceutical packages. They have a wide range of product categories which include pharmaceutical API, amino acids and derivatives, excipients, chemicals, additives, herbal extracts, and many more. Some of the sectors in which they provide services are geophysics, and hydrogeology, among others.
Axiom Chemicals Pvt. Ltd. is one of the most renowned and leading manufacturers, suppliers, exporters, importers, and wholesalers of inorganic and organic chemicals. Their product portfolio has a wide range of chemicals like bromine, calcium, iodide, lithium carbonate, lithium borate, copper bromide, lithium chloride, and many more.
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