Global Food Grade Magnesium Derivatives Market Trends and Forecast Report 2023: Market to Reach $1.24 Billion by 2030 - Manufacturers Flock to Asia Pacific for Cost-effective Production

News provided by

Jan 10, 2024, 21:45 ET

DUBLIN, Jan. 10, 2024 /PRNewswire/ -- The "Food Grade Magnesium Derivatives Market Size, Share, & Trends Analysis Report By Product (Inorganic, Organic, Magnesium Chelates), By Application (Food, Beverages), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global food grade magnesium derivatives market size is expected to reach USD 1.24 billion by 2030, registering a CAGR of 4.5% from 2023 to 2030

The growth is majorly driven by the growing inclusion of magnesium derivatives in the production of confectionery products, such as chocolates and sweets, as well as the production of alcoholic and nonalcoholic beverages, including functional drinks. The industry is anticipated to grow on account of the rising demand for products from the bakery, confectionery, and dairy, among other application segments.

The magnesium derivatives are widely used in the food processing industries as color retention agents, pH stabilizers, supports fermentation, anti-caking agents, emulsifiers, flavoring agent, firming agents, brewing agents, and antacids. The outbreak of the COVID-19 pandemic had a significant impact on various industries. However, Food & Beverages (F&B) remained unaffected owing to the high demand for immunity-boosting food products. This is attributed to the rising consumer awareness about maintaining a healthy diet and improving immunity to combat viral infections.

Thus, the product witnessed high demand from the F&B application sector as. As the F&B industry is not the primary application of magnesium derivatives, the demand for the same did not spike as expected; however, the market witnessed positive growth in 2020.

Asia Pacific is estimated to register the fastest CAGR from 2022 to 2030 due to the growing F&B production and expansion of the retail industry in emerging markets like Japan, and India. Many manufacturers are shifting their production hubs to the Asia Pacific region due to low labor & operational costs and easy availability of workforce.

Food Grade Magnesium Derivatives Market Report Highlights

The inorganic products segment is likely to register the fastest growth rate from 2022 to 2030 due to its wide application scope in various food products as well as functional, sports, and alcoholic beverages
Among inorganic derivatives, magnesium chloride is estimated to witness the fastest growth rate over the forecast years due to its non-flammable and non-toxic properties
Moreover, it is widely used in food products as an emulsifier and firming agent and in beverages as a flavoring and brewing agent
The beverages application segment will grow at the highest CAGR from 2022 to 2030 due to the rising demand for various functional, alcoholic, energy, and non-alcoholic beverages
The alcoholic beverages sub-segment will witness the highest growth rate from 2022 to 2030 due to the high demand for various alcoholic drinks and the growing penetration of derivatives in the formulation of these products

Company Profiles

Grecian Magnesite
Sinwon Industrial Co., Ltd.
Compass Minerals
OLE Chemical Co., Ltd.
Martin Marietta Magnesia Specialties
Ibar Northeast
NikoMag
K + S Aktiengesellschaft
Oksihim, Ltd.
Hawkins

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Food Grade Magnesium Derivatives Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.5.3. Industry opportunities & challenges
3.6. Food Grade Magnesium Derivatives Market Analysis Tools
3.6.1. Industry Analysis - Porter's
3.6.2. PESTEL Analysis

Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies

Chapter 5. Food Grade Magnesium Derivatives: Product Estimates & Trend Analysis
5.1. Food Grade Magnesium Derivatives Market: Key Takeaways
5.2. Food Grade Magnesium Derivatives Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Inorganic
5.3.1. Inorganic market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.3.1.1. Magnesium oxide market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.3.1.2. Magnesium carbonate market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.3.1.3. Magnesium chloride market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.3.1.4. Magnesium hydroxide market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.3.1.5. Magnesium sulfate market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.3.1.6. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.4. Organic
5.4.1. Organic market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.4.1.1. Magnesium stearate market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.4.1.2. Magnesium citrate market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.4.1.2.1. Magnesium lactate market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.4.1.2.2. Magnesium gluconate market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
5.4.1.2.3. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)

Chapter 6. Food Grade Magnesium Derivatives: Application Estimates & Trend Analysis
6.1. Food Grade Magnesium Derivatives Market: Key Takeaways
6.2. Food Grade Magnesium Derivatives Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Food
6.3.1. Food market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
6.3.1.1. Bakery market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
6.3.1.2. Confectionery market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
6.3.1.3. Dairy market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
6.3.1.4. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
6.4. Beverages
6.4.1. Beverages market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
6.4.1.1. Alcoholic market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)
6.4.1.2. Non-alcoholic market estimates and forecasts, 2018 to 2030 (USD Million, Kilotons)

Chapter 7. Food Grade Magnesium Derivatives Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Food Grade Magnesium Derivatives Market by Region: Key Takeaway

Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. Company overview
8.2.2. Financial performance
8.2.3. Product benchmarking
8.2.4. Strategic initiatives

For more information about this report visit https://www.researchandmarkets.com/r/5jih3s

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo - https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets