Singapore Magnesium Lactate Market Report and Forecast 2024-2032

Singapore Magnesium Lactate Market Size

The Singapore magnesium lactate market is projected to grow at a CAGR of 6.7% between 2024 and 2032.

Singapore Magnesium Lactate Market Outlook

• As per the International Trade Administration, in 2022, the total local production in the healthcare market was over USD 11.2 billion.

• As per the Singapore Department of Statistics, total food & beverage sales in  February 2024 were estimated at USD 1.0 billion.

• Cosmetics, toiletries & medical goods in February 2024 showed a growth of 9.4% compared to the previous year.

Singapore Magnesium Lactate Market Growth

The growth of the Singapore magnesium lactate market is led by food-grade magnesium lactate in the food and beverage industry.

Food-grade magnesium lactate is designed to be used in the food and beverage industry. It is used extensively as an additive for boosting magnesium content. It has a delicate flavour and dissolves well; therefore, it can be used in dairy products, baked goods, beverages, and dietary supplements, among others. Quality control measures are very stringent on this type of magnesium lactate, which must meet Singapore’s rigorous standards on food safety.

In July 2022, Crobion, a Dutch food and biochemicals company, opened its innovation centre in Singapore. The move was made to build a laboratory meant to facilitate micro-studies for spoilage and food safety. The laboratory was designed keeping in mind capabilities in food preservation in many categories such as sauces, meat, baked foods, refrigerated foods, beverages, and others.

The industrial-grade magnesium lactate is suitable only for non-food uses such as pharmaceutical manufacturing, the production of personal care products, and agrochemicals, among others. It is crucial for providing magnesium supplementations in cosmetics for its moisturizing capabilities, along with being used during water treatment processes and other industrial applications that require large quantities of this chemical compound.

Singapore Magnesium Lactate Market Segmentation

Singapore Magnesium Lactate Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Grade

• Food Grade

• Industrial Grade

• Pharmaceutical Grade

Market Breakup by Application

• Personal Care and Cosmetics

• Pharmaceuticals

• Food and Beverage

• Agrochemicals

• Others

Singapore Magnesium Lactate Market Share

Personal care and cosmetics lead growth in the Singapore magnesium lactate market since it is often utilized for its moisturising and skin-conditioning properties. It keeps the skin hydrated and improves its overall texture, thus making it a common ingredient in body lotions, moisturisers, serums, and masks.

Leading Companies in the Singapore Magnesium Lactate Market

Major market players are expanding their outreach through investments in sustainable practices and environmental responsibility along with a focus on health and wellness.

• Jungbunzlauer Suisse AG

• Corbion N.V.

• Dr. Paul Lohmann GmbH & Co. KGaA

• Fengchen Group Co.,Ltd.

• Others

Key Highlights of the Report