Food Grade Magnesium Derivatives Market Size | Forecast 2031
Food Grade Magnesium Derivatives Market Size | Forecast 2031
Segments - Food Grade Magnesium Derivatives Market by Type (Organic and Inorganic ), Application (Beverage Industry and Food Industry), and Region (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :FB-4993
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Report Description
The food grade magnesium derivatives market size was valued at around USD 876.3 Mn in 2022 and is estimated to reach USD 1443.1 Mn by 2031, expanding at a CAGR of 6.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing use of magnesium derivatives production of chocolates, sweets, and alcoholic & non-alcoholic drinks.
Magnesium derivatives are used in food and beverages for its high adoption of flavoring agents, brewing agents, firming agents, and others. The magnesium derivatives are used in several sectors including cosmetic, pharmaceutical, and water treatment plants. Magnesium is also present in pumpkin seeds, almonds, cashews, peanuts, chia seeds, soymilk, and others. It is useful and essential for the human body to boost immunity power.
Magnesium derivatives comprise of magnesium chloride, magnesium sulfate, magnesium hydroxide, and magnesium oxide. Among all the derivatives, magnesium oxide is widely consumed magnesium derivatives. According to the studies, dietary allowance for women is 310-320 per day, and for men is 400-420 per day.
Magnesium sulfate is mostly used for muscle recovery and magnesium ions are present in the body cells of humans. About 60% of the magnesium is in the bones of the human body. It turns into an electrolyte when dissolved in bodily fluid and is said to be one of the positively charged electrolytes present in the body cells.
Magnesium derivatives such as magnesium chloride, oxide, lactate, gluconate, hydroxide, stearate, and citrate are extensively used in the beverage industry due to their non-flammable and non-toxic properties. In the food industry, it is mostly used as a color retention agent, anti-caking agent, pH stabilizer, and supports fermentation.
Magnesium gluconate is an organic derivative popularly used across the world in various food and beverage applications. It is bitter and odorless and is available in form of white crystalline powder. Magnesium gluconate helps to increase the product’s shelf life and enhances quality and freshness.
The cost of organic derivatives is slightly high in comparison to inorganic derivatives due to their limited production and high demand from the food and beverage industries. Organic derivatives are commonly used in confectionery products such as chocolates, candies, gums, biscuits, and jelly.
The market report finds the COVID-19 pandemic had a significant impact on several industries. However, the food and beverage industry did not see any ill effects owing to the high demand for immunity-boosting drinks and food products. Further, during the pandemic, the food items were classified as essential products which in turn resulted in the growth of the food-grade magnesium derivatives market.
Drivers
High demand for magnesium derivatives in the food and beverage industries is fueling market growth owing to their easy application and availability. Magnesium derivatives such as magnesium chloride, oxide, lactate, gluconate, hydroxide, stearate, and citrate are among the most popular derivatives used for consumption
Restraints
Side effects associated with the overconsumption of magnesium derivatives are expected to hamper market growth. The overdose may cause diarrhea, nausea, diabetes, and heart disease. According to the safety data sheet of Santa Cruz Biotechnology, Inc. people suffering from intestinal disease, heart or kidney disease, and diabetes are advised to consume magnesium only with medical consultation.
Opportunities
Increasing consumer awareness to improve immunity and maintain a healthy diet is driving the market of magnesium derivatives. Magnesium derivatives are immunity boosters and help in curing several body issues. Manufacturers are therefore launching new products in the market which contain magnesium derivatives to target more consumers.
Scope of Food Grade Magnesium Derivatives Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Food Grade Magnesium Derivatives Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2020 – 2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Organic and Inorganic) and Application (Beverage Industry and Food Industry) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Grecian Magnesite; Sinwon Industrial Co., Ltd.; OLE Chemical Co., Ltd.; Martin Marietta Magnesia Specialties; Compass Minerals; Ibar Northeast; Hawkins; ICL; K + S Aktiengesellschaft; NikoMag; Rahul Magnesia Pvt. Ltd.; Novotech Nutraceuticals, Inc.; Jungbunzlauer Suisse AG; Oksihim, Ltd.; James M. Brown Ltd.; RX Chemicals; Vizag Chemicals; Dr. Paul Lohmann GmbH & Co. KGaA; Corbion; Gadot Biochemical Industries Ltd. |
Food Grade Magnesium Derivatives Market Segment Insights
Based on type, the food grade magnesium derivatives market is divided into organic and inorganic. The inorganic derivative accounts for a key share of the market; owing to the increasing use of magnesium derivatives in food products and in sports, functional and alcoholic beverages. Moreover, among inorganic derivatives, magnesium chloride is widely used in food products as a firming agent and in beverages as a flavoring agent.
On the basis of application, the market is bifurcated into the beverage industry and food industry. The beverage industry accounts for a key share of the market, due to rising demand for various energy, functional, alcoholic, and non-alcoholic beverages. Further, the growing penetration of derivatives in the formulation of beverages is fueling the market growth.
In terms of region, the global food grade magnesium derivatives market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projected period, due to increasing consumer expenditure on food and beverages in the region and the presence of key manufacturers.
The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, owing to increasing food and beverage production in emerging economies such as Japan and India. Production hubs of various industries are shifted in the Asia Pacific region due to low operational costs and easy availability of labor.
Segments
The global food grade magnesium derivatives market has been segmented on the basis of
Type
- Organic
- Inorganic
Applications
- Beverage Industry
- Food Industry
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Grecian Magnesite
- Sinwon Industrial Co., Ltd.
- OLE Chemical Co., Ltd.
- Martin Marietta Magnesia Specialties
- Compass Minerals
- K + S Aktiengesellschaft
- Ibar Northeast
- Hawkins
- ICL
- NikoMag
- Rahul Magnesia Pvt. Ltd.
- Novotech Nutraceuticals, Inc.
- Jungbunzlauer Suisse AG
- Oksihim, Ltd.
- James M. Brown Ltd.
- RX Chemicals
- Vizag Chemicals
- Dr. Paul Lohmann GmbH & Co. KGaA
- Corbion
- Gadot Biochemical Industries Ltd
Competitive Landscape
Key players in the global food grade magnesium derivatives market are Grecian Magnesite; Sinwon Industrial Co., Ltd.; OLE Chemical Co., Ltd.; Martin Marietta Magnesia Specialties; Compass Minerals; Ibar Northeast; Hawkins; ICL; K + S Aktiengesellschaft; NikoMag; Rahul Magnesia Pvt. Ltd.; Novotech Nutraceuticals, Inc.; Jungbunzlauer Suisse AG; Oksihim, Ltd.; James M. Brown Ltd.; RX Chemicals; Vizag Chemicals; Dr. Paul Lohmann GmbH & Co. KGaA; Corbion; Gadot Biochemical Industries Ltd.
These major companies adopt various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
- In August 2021, NikoMag increased the production of magnesium hydroxide to 40,000 tons per year, without compromising on product quality.
- In July 2019, K + S Aktiengesellschaft invested USD 36 million and expanded the production of the Werra Plant at the Wintershall site in Germany for higher production of magnesium sulfate anhydrous.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Food Grade Magnesium Derivatives Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Food Grade Magnesium Derivatives Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Food Grade Magnesium Derivatives Market - Supply Chain
4.5. Global Food Grade Magnesium Derivatives Market Forecast
4.5.1. Food Grade Magnesium Derivatives Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Food Grade Magnesium Derivatives Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Food Grade Magnesium Derivatives Market Absolute $ Opportunity
5. Global Food Grade Magnesium Derivatives Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Food Grade Magnesium Derivatives Market Size and Volume Forecast by Types
5.3.1. Organic
5.3.2. Inorganic
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Food Grade Magnesium Derivatives Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Food Grade Magnesium Derivatives Market Size and Volume Forecast by Applications
6.3.1. Beverage Industry
6.3.2. Food Industry
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Food Grade Magnesium Derivatives Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Food Grade Magnesium Derivatives Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Food Grade Magnesium Derivatives Demand Share Forecast, 2019-2026
8. North America Food Grade Magnesium Derivatives Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Food Grade Magnesium Derivatives Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Food Grade Magnesium Derivatives Market Size and Volume Forecast by Types
8.4.1. Organic
8.4.2. Inorganic
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Food Grade Magnesium Derivatives Market Size and Volume Forecast by Applications
8.7.1. Beverage Industry
8.7.2. Food Industry
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Food Grade Magnesium Derivatives Demand Share Forecast, 2019-2026
9. Latin America Food Grade Magnesium Derivatives Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Food Grade Magnesium Derivatives Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Food Grade Magnesium Derivatives Market Size and Volume Forecast by Types
9.4.1. Organic
9.4.2. Inorganic
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Food Grade Magnesium Derivatives Market Size and Volume Forecast by Applications
9.7.1. Beverage Industry
9.7.2. Food Industry
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Food Grade Magnesium Derivatives Demand Share Forecast, 2019-2026
10. Europe Food Grade Magnesium Derivatives Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Food Grade Magnesium Derivatives Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Food Grade Magnesium Derivatives Market Size and Volume Forecast by Types
10.4.1. Organic
10.4.2. Inorganic
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Food Grade Magnesium Derivatives Market Size and Volume Forecast by Applications
10.7.1. Beverage Industry
10.7.2. Food Industry
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Food Grade Magnesium Derivatives Demand Share Forecast, 2019-2026
11. Asia Pacific Food Grade Magnesium Derivatives Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Food Grade Magnesium Derivatives Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Food Grade Magnesium Derivatives Market Size and Volume Forecast by Types
11.4.1. Organic
11.4.2. Inorganic
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Food Grade Magnesium Derivatives Market Size and Volume Forecast by Applications
11.7.1. Beverage Industry
11.7.2. Food Industry
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Food Grade Magnesium Derivatives Demand Share Forecast, 2019-2026
12. Middle East & Africa Food Grade Magnesium Derivatives Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Food Grade Magnesium Derivatives Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Food Grade Magnesium Derivatives Market Size and Volume Forecast by Types
12.4.1. Organic
12.4.2. Inorganic
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Food Grade Magnesium Derivatives Market Size and Volume Forecast by Applications
12.7.1. Beverage Industry
12.7.2. Food Industry
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Food Grade Magnesium Derivatives Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Food Grade Magnesium Derivatives Market: Market Share Analysis
13.2. Food Grade Magnesium Derivatives Distributors and Customers
13.3. Food Grade Magnesium Derivatives Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Grecian Magnesite
13.4.2. Sinwon Industrial Co., Ltd.
13.4.3. OLE Chemical Co., Ltd.
13.4.4. Martin Marietta Magnesia Specialties
13.4.5. Compass Minerals
13.4.6. Ibar Northeast
13.4.7. Hawkins
13.4.8. ICL
13.4.9. K + S Aktiengesellschaft
13.4.10. NikoMag
13.4.11. Rahul Magnesia Pvt. Ltd.
13.4.12. Novotech Nutraceuticals, Inc.
13.4.13. Jungbunzlauer Suisse AG
13.4.14. Oksihim, Ltd.
13.4.15. James M. Brown Ltd.
13.4.16. RX Chemicals
13.4.17. Vizag Chemicals
13.4.18. Dr. Paul Lohmann GmbH & Co. KGaA
13.4.19. Corbion
13.4.20. Gadot Biochemical Industries Ltd.
Methodology
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