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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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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 players.
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