Magnesium Lactate Market Segments, Opportunity, Growth and Forecast By End-use Industry 2018 to 2026
Magnesium lactate is a magnesium salt of lactic acid and commonly used ingredient added to food and beverages as an acidity regulator. It is also used as a dietary supplement and as a nutrient in different formulation. Magnesium is an important nutrient, and is necessary for the body to support the function of the nervous system, heart, and digestive system. Magnesium lactate is used as a mineral supplement to treat magnesium deficiency. For these functional properties, it is often considered a value addition in certain dietary products as well as agrochemicals for bio-fortification in magnesium deficient crops. The demand for Magnesium lactate has been progressively growing on the milieu of increasing health concerns across the globe. Consumers asking for more ingredient specific products and generating a customized demand. This demand is further supplement by the increasing application in food application.
Magnesium Lactate Market Drivers and Trends:
Bio fortification as a goal to improve human health in countries with need of nutrients has been the focus of the World Health Organization. With this focus bio fortification of crops with micro and macro nutrients in region where the sources of these nutrients are low. Most of the countries in the region of Africa import major food crops which are fortified with these nutrients such as magnesium lactate for enhancing crop productivity.
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Rising disposable income and purchasing power of consumers, in turn, is boosting demand and adoption of premium fortified food products across the globe. Rising health consciousness among consumers in terms of opting for the best high-quality food products is further strengthening the growth of the magnesium lactate market for premium nutrition products where magnesium lactate has a high usage.
Increasing agricultural productivity has been a goal of governments to reduce hunger and malnutrition over the years. In more recent years, China and India doubled agricultural production by the incorporation of biotechnology and these trends are being slowly being incorporated in the regions of Africa and Middle East. A wide use of all macro and micro nutrients to yield better crop have shown effective results and now these fortified crops are in high demand. Fortification has also been focused in the flour processing plants/factories in the same areas. Wheat flour, corn flour and rice flour are being widely fortified and this nutrient enhancement in crops has also added to rise in overall crop consumption. This is well backed by the WHO initiatives in educating people with the heath benefits and need for fortified crops and flours. For most situations, the fortified flours are imported from the U.S and Europe and manufacturers have noted a steady rise in demand from these regions. This in turn has created a high demand for fortification using mineral salts such as magnesium lactate, zinc lactate and other micro nutrients.
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Magnesium Lactate Market Segmentation:
Apart from its application as an ingredient in supplements, it is now being added to function food and beverages. Magnesium lactate is widely used as ingredient in multiple industries and this wide use is attributed to demand for alternative ingredients in different industries.
Based on its application, magnesium lactate market is segmented as, food and beverage, pharmaceutical, cosmetic, and agrochemicals. Food and beverages is further sub segmented as dairy products, beverages, functional food, and other uses in food and beverage segments.
Magnesium Lactate Market Regional Outlook:
Based on the geographies, the global magnesium lactate market is segmented into seven regions globally such as Europe, Latin America, CIS & Russia, North America, Asia-Pacific excluding Japan, Japan, and Middle East & Africa. Magnesium lactate is used globally as an active ingredient in supplements, these supplements are in rising demand in the Asia Pacific region, China, India and ASEAN countries have high consumption in form of over the counter as well as prescribed dietary supplements. Other applications of magnesium lactate such as in agrochemicals has created a modest demand, mostly driven by regional government’s efforts in fighting mineral differences and increasing fortification initiatives.
Magnesium Lactate Market Key Players:
Some of the global market players present in magnesium lactate market include; Corbion N.V., American Elements, Jungbunzlauer Suisse AG, Dr. Paul Lohmann Gmbh KG, Gadot Biochemical Industries Ltd., ISALTIS, Magnesia Gmbh, Jost Chemical Co., Penta Manufacturing Co. LLC, Lehmann&Voss&Co, PMP Fermentation Products, Inc., K+S Aktiengesellschaft, among others.
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