Press release
Magnesium Sulphate Market Is Anticipated to Reach US$ 1,351.2 Million by 2032
In 2022, the market for magnesium sulphate is expected to be worth US$ 783.6 million, and by the end of 2032, it is expected to have grown at a CAGR of 5.3% to reach US$ 1,351.2 million.As individuals choose functional and healthful foods more and more, there is an increase in demand for seafood, dairy products, and processed meat. Magnesium sulphate is used in the processing of meat as a water retention agent as well as a stabiliser in cheese and dairy products. Seawater and other naturally occurring minerals like kieserite and epsomite contain magnesium sulphate. Sulphuric acid and magnesium oxide can also be combined to create magnesium sulphate. The form of magnesium sulphate that is most frequently found is magnesium sulphate heptahydrate, also referred to as Epsom salt.
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Key Takeaways from Market Study:
• The global magnesium sulphate market is projected to expand at a CAGR of 5.3% and be valued at US$ 1,351.2 million by 2032
• Under type, Heptahydrate (Epsomite) dominates the market and is valued at US$ 506.6 million in 2022
• East Asia is estimated to dominate the market with a 28.9% market share in 2022
• Agriculture application is estimated to showcase a major market share of 47.1% in 2022
"The utilization of MgSO4 as an additive in various industries and growing demand of food and medicines due to population growth will propel the market," says a Fact.MR analyst.
Competitive Landscape:
Prominent magnesium sulphate manufacturers are Giles Chemical, Jiangsu Kolod Food Ingredients Co., Ltd, K+S Group, Laizhou City Laiyu Chemical Co. Ltd, Laizhou Guangcheng Chemical Co., Ltd, Mani Agro Chem Pvt. Ltd., Mag Products India Private Limited (MPIPL), PQ Corporation, Rech Chemical Co., Ltd, UMAI CHEMICAL Co. Ltd., WeifangHuakang Magnesium Sulphate Co., Ltd., and ZIBO JINXING CHEMICAL CO., LTD.
The companies have been significantly developing grades against the backdrop of growing applications. Hefty investments are being made in the end-use market such as agrichemicals enabling them to reach out to new application avenues. Economies of density are a major trend followed by the firms to enhance their marginal profits and lower the cost factors such as FOB, custom duty, extensive tax structure, and higher incompatible price points with regional players.
• In Nov 2021, FDA approved Milla Pharmaceutical's generic magnesium sulphate injection.
• In April 2021, K+S closed the sale of its American Salt business to US-based Stone Canyon Industries Holdings to reduce its debt.
Rising demand for Nutraceuticals to drive Magnesium Sulphate Market:
The nutraceuticals sector of the food industry is growing quickly in terms of invention, development, and marketing. Their demand is rising as a result of the rising consumer demand for all-natural dietary supplements that provide nourishment and protection against chronic diseases.
The World Health Organization (WHO) said that the global kilocalories (kcal) per capita per day, which were recorded at 2940 Kcal in 2015, are expected to reach 3050 Kcal by 2030. Nutraceuticals may be taken alone or in combination with food supplements or functional foods. Growing incidence of chronic diseases and the detrimental effects of traditional treatments on health have changed consumer desire for organic or natural items.
Segmentation of Magnesium Sulfate Industry Research:
• By Product Type:
o Heptahydrate (Epsomite)
o Anhydrous (Calcined Kieserite)
o Monohydrate (Kieserite)
• By Application:
o Agriculture Additive
o Food & Feed Additives
o Pharmaceuticals Additives
o Chemical Intermediaries
o Pulp & Paper Additives
o Others Applications
• By Region:
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global magnesium sulphate market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (heptahydrate (epsomite), anhydrous (calcined kieserite), monohydrate (kieserite), and application (agriculture additive, food & feed additives, pharmaceuticals additives, chemical intermediaries, pulp & paper additives, others applications), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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