Global Magnesium Stearate Market Share, Segment Analysis, Growth Drivers and Forecast Report, 2030

The global magnesium stearate market is predicted to touch $2,637.6 million by 2030, progressing at a 5.3% CAGR from 2020 to 2030. The major factors driving the market are an increase in the use of magnesium stearate in personal care products and the APAC rapidly expanding pharmaceuticals sector.

Based on form, the powder category dominated the magnesium stearate market in terms of size. Due to its use as an appropriate release agent during the production of drugs, powdered magnesium stearate is in high requirement from the pharmaceutical sector. Utilizing the compound makes the production process effective and time-saving by preventing tablets from adhering to the manufacturing equipment.

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Due to its capacity to act as an anti-caking agent, the use of the compound's powdered form has also increased in cosmetic products including foundations, pressed powders, and eye shadows. The demand for the compound is predicted to rise over the forecast period due to the expansion of these end-use industries.

Moreover, strong demand for magnesium stearate as a raw material has been generated as a result of rising personal care product usage in emerging countries due to rising consumer expenditure. As a result, these factors are driving the magnesium stearate market.

In the coming years, the pharmaceuticals category will have the fastest-growing need for the chemical, primarily due to rising awareness of its potential use as a reliable release agent, and a cheap binder and filler, in medicines. Additionally, the consumption of the compound is anticipated to increase further shortly due to increasing funding in the pharmaceutical industry, particularly in emerging nations.

Geographically, APAC dominates the magnesium stearate market due to a considerable increase in the use of chemicals, primarily in the pharmaceutical, food & beverage, plastics, and personal care sectors. To fulfill the region's end-use industries' high-volume demand, chemical producers there are placing a lot of emphasis on facility expansions. Additionally, the consumption of prescription medication in the form of pills and capsules is rising due to the increasing prevalence of many disorders.

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One significant magnesium stearate market trend that has been identified is the increasing usage of magnesium stearate in the food & beverage industry. With increasing awareness of the chemical's advantageous qualities as a food additive, the use of the substance in the food and beverage industry has accelerated recently. The compound is becoming increasingly popular as a food additive for goods including confectionery, chewing gum, granulated mints, and nutritional supplements.

Recently, the usage of compound in personal care products has increased significantly, especially in India, China, Germany, the U.S., France, and South Korea. Magnesium stearate may be used as a great lubricant and texturizer in cosmetics. Additionally, it is commonly utilized as a cream thickener and in hair care products including shampoos, hair masks, and conditioners.

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This release was published on openPR.