The continuous expansion of the pharmaceutical sector and the elevating demand for food beverage products have resulted in boosting the Magnesium Stearate market.
The Global Magnesium Stearate market is forecast to reach USD 717.2 Million by 2027, according to a new report by Reports and Data. Magnesium stearate can be defined as the magnesium salt of stearic acid [fatty acid]. It is extensively used in the food sector for many decades as a binder, emulsifier, thickener, antifoaming, lubricant, and anticaking agent. This chemical compound is available in various confectionary, food supplements, baking ingredients, herbs spices. It is also widely used as an inactive ingredient in manufacturing capsules, pharmaceutical tablets, and powders. To use it for food applications, it is manufactured in either of the two processes. In the fusion or direct process, there is a direct reaction of fatty acids with magnesium sources like magnesium oxide to form magnesium salts of the fatty acids. In the precipitation or indirect process, a sodium soap is manufactured by reacting fatty acids with sodium hydroxide in water, and the product is precipitated by adding magnesium salts to the soap. The chemical compound is permitted for use in various countries like Australia, China New Zealand, Japan along with European Union and it was granted generally recognized as safe (GRAS) status in the US Thus, permission for its use in various nations along with the elevating demand for food beverage products, the continuous expansion of the pharmaceutical sector and its rising demand in the personal care sector are some of the factors fostering the growth of the industry
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launch, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
PT Halim Sakti Pratama, Kirsch Pharma GmbH, Nimbasia Stabilizers, Parchem Fine Specialty Chemicals, Valtris Specialty Chemicals, Baerlocher GmbH, Faci SpA, Norac Additives LLC, Sun Ace Kakoh (Pte.) Ltd., James M. Brown Ltd., and Peter Greven GmbH Co. KG.
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The Magnesium Stearate market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Form Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Powder
- Flake
- Others
Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
- Others
End-user Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Pharmaceutical
- Food Beverage
- Personal Care
- Others
Key Regions Analyzed in the Report includes:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
Furthermore, it consists of information about individual segment of the Magnesium Stearate market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Further key findings from the report suggest
- The Magnesium Stearate market held a market share of USD 421.2 Million in the year 2018 that is forecasted to grow at a rate of 6.1% during the forecast period.
- In context to Form, the Powder segment is projected to witness the fastest growth rate of 6.6% during the forecast period, which occupied more than 50.0% of the market in 2018. The growth rate witnessed by the Powder segment is attributed to the extensive commercial availability of this chemical compound in this form, its high demand in this form in the pharmaceutical sector, which is contributing to the growth rate witnessed by the Powder segment.
- In context to Grade, the Pharmaceutical Grade segment held the largest market share of more than 40.0% in 2018, with a CAGR of 6.3% during the forecast period. The market share held by the Pharmaceutical Grade segment is attributed to the continuous expansion of the healthcare sector, the associated elevating demand for medications and applicability of the pharmaceutical grade magnesium stearate as a lubricant and additive in medication capsules, which contributes to the market share held by this segment. It is used to post-pone the breakdown and absorption of medications that help in its absorption in the correct area of the bowel.
- In regards to End-user, the Food beverage segment is projected to witness the fastest growth rate of 6.9% during the forecast period, which is expected to hold 17.0% of the market by 2027. The growth rate witnessed by the Food beverage segment is attributed the continuous growth of the food beverage industry and the wide arena of the compound in the industry wherein it is used as a binder, emulsifier, thickener, antifoaming, lubricant and anticaking agent, which applications contribute to the growth rate witnessed by this segment. One of the major use of the chemical compound in this industry is as a food additive.
- In regards to the region, Europe is projected to witness a considerable CAGR of 6.3% during the forecast period, which is expected to hold 28.5% of the market by 2027. The growth rate witnessed by Europe is attributed to the continuous growth of the food beverage sector, rising geriatric population, and expanding pharmaceutical industry along, which is supporting the expansion of the sector in this region.
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