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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
The Asia Pacific to Provide Enhanced Opportunities for the Expansion of the Magnesium Lactate Industry
The Asia Pacific is expected to account for a significant share in the industry owing to the growing government initiatives to strengthen the agricultural sector and enhance agricultural productivity to control malnutrition and hunger. This is driving the demand for macro and micro-nutrients such as magnesium lactate to produce a better quality of crops. China and India are promoting the cultivation of fortified crops and are using biotechnology to enhance the quality of crops. This is expected to provide enhanced growth opportunities for the expansion of the magnesium lactate industry in the region. Other developing regions like the Middle East and Africa are following this trend, thus, providing a further impetus to the market. In addition, the U.S. and Europe, being the significant exporters of fortified flour, are expected to drive the demand for magnesium lactate in the forecast period.
Magnesium Lactate Market Report Snapshots
Magnesium Lactate Market Demand
Magnesium Lactate Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global magnesium lactate market is being aided by the rising magnesium supplements industry, which is projected to grow at a CAGR of 7.2% between 2024 and 2032.
The major drivers of the industry, such as rising disposable incomes, increasing population, rising demand for dietary or nutritional supplements, increasing adoption of a healthy lifestyle, enhancing living standards, and rising demand for premium food products, are expected to aid the market growth.
The key trends guiding the growth of the market include the favourable government initiatives and growing demand for macro and micro-nutrients.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading grades of magnesium lactate in the market are food grade, industrial grade, and pharmaceutical grade.
The major application segments in the industry are personal care and cosmetics, pharmaceuticals, food and beverage, and agrochemicals, among others.
The major players in the industry are Corbion NV, Jungbunzlauer Suisse AG, Isaltis Inc., Fengchen Group Co., Ltd, and Axiom Chemicals Pvt. Ltd., among others.
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