Magnesium Lactate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global magnesium lactate market is poised for substantial growth, with an estimated value of US$ 22 billion by 2024. Sales of magnesium lactate are projected to witness a steady growth reaching a valuation of US$ 40 billion by 2031. This growth is primarily driven by the increasing demand for dietary supplements, fortified crops, and its use in the cosmetics industry.

Meeting the Demand for Dietary Supplements

The growing demand for dietary or nutritional supplements to ensure a balanced diet is driving the need for magnesium lactate. Increased awareness of the importance of macro- and micronutrients for human health, coupled with the availability of over-the-counter supplements, has significantly boosted sales.

Fortified Crops Boosting Demand

Governments are increasingly using magnesium lactate to enhance agricultural productivity and address hunger and malnutrition. Magnesium lactate, along with other macro- and micronutrients, is being employed in fortified crops, following recommendations from organizations like the World Health Organization (WHO). This trend is expected to create profitable opportunities for the magnesium lactate market.

Side Effects Caution

It's important to note that excessive exposure to magnesium lactate can have adverse effects, including nausea, vomiting, diarrhea, and upset stomach. For most individuals, daily doses under 350 mg are considered safe.

Market Scenario in APAC

Asia Pacific (APAC) countries are expected to be major stakeholders in the global magnesium lactate market in terms of both value and volume. Increased demand from sectors such as food and beverage, personal care and cosmetics, and agrochemicals is contributing to this growth.

Growth Outlook in India

India is actively promoting initiatives to improve agricultural output and combat hunger and poverty. The adoption of biotechnology and the cultivation of fortified crops are driving up demand for macro- and micronutrients like magnesium lactate. The country's magnesium lactate industry is expected to benefit from these growth opportunities.

Competitive Landscape

Companies worldwide are investing in expanding their magnesium lactate production capacity to meet growing end-user expectations. Technological advancements and strategic initiatives such as mergers, alliances, and partnerships are opening up various market prospects. Players are focused on implementing cutting-edge technologies to maintain a competitive edge.

Key Companies in the Magnesium Lactate Market

• 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.

Magnesium Lactate Market Segmentation

By Grade type, the Magnesium Lactate Market is segmented as:

• Food Grade
• Pharmaceutical Grade
• Industrial Grade

By Application, the Magnesium Lactate Market is segmented as:

• Food & Beverage
• Dairy Products
• Beverages
• Functional Foods
• Others
• Pharmaceuticals
• Agrochemicals
• Personal Care & Cosmetics

By Region:

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

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