Global Magnesium Lactate Market to Grow at a Healthy Pace During 2024-2032, Aided by the Shift to Sustainable and Healthy Food Products

The growing demand for nutritious and organic food products is driving the demand for magnesium lactate, which is added to fulfill the requirement of magnesium in several products. Magnesium is an important mineral that regulates diverse biochemical reactions in the body and supports a healthy immune system. Further, its demand is also increasing owing to its neutral taste, organic nature, superior bioavailability, and high solubility, making it ideal for mineral fortified liquid applications. In Europe, magnesium lactate is allowed in food supplements and in foods for particular nutritional uses. It can be added to various products like desserts, ice cream, fruit preparations, instant drinks, syrups, waters, health supplements, and pharma products. The easy availability of the end-use products through various offline and online channels like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) is expected to boost the sales of the product over the forecast period.

The growing mergers and acquisitions by the key players are significantly contributing to the growth of the industry. In March 2020, Corbion NV (AMS: CRBN) announced its acquisition of Granotec do Brazil, a leading specialist in functional blends for the Brazilian bakery industry, to further expand its food ingredients business in Latin America and fulfill the growing demand for sustainable ingredient solutions in the region. These blends allow functional ingredients like vitamins and minerals to be added to a variety of food products, thus, showing growth prospects for the magnesium lactate industry in Latin America.

In May 2018, Macco Organiques, s.r.o. acquired Isaltis group, a significant player in the magnesium lactate industry, to become a world leader in the production of high quality mineral salts and serve the dynamic life sciences markets (pharmaceutical, nutrition, cosmetics). The acquisition involves Macco taking a majority stake of 75% in the company’s capital, further expanding its presence in several continents. Such developments are expected to boost the market growth of magnesium lactate.

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Market Breakup by Grade, Application, and Region:

• By grade, the magnesium lactate industry can be categorised into food grade, industrial grade, and pharmaceutical grade.

• Based on application, the industry can be segmented into personal care and cosmetics, pharmaceuticals, food and beverage, and agrochemicals, among others.

• Region-wise, the global market for magnesium lactate can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The industry is being driven by the growing demand for magnesium lactate in the production of dietary and mineral supplements and as a nutrient in different formulations.

• The rising disposable incomes and increasing health awareness among consumers are further propelling the market growth.

• The growing popularity of bio-fortification in the agricultural sector is also accelerating the growth rate of the industry.

• The favourable government initiatives to combat malnutrition and hunger, particularly in regions like Africa and others, are significantly contributing to the industry growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for magnesium lactate for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the grades, applications, and major regions of magnesium lactate.

• The report also gives the regional historical (2018-2023) and forecast (2024-2032) price trends of the product. 

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global magnesium lactate market are Corbion NV, Jungbunzlauer Suisse AG, Isaltis Inc., Fengchen Group Co.,Ltd, and Axiom Chemicals Pvt. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major player.

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