Nutraceuticals to Bring About a Paradigm Shift in the Global Magnesium Sulphate Market – Fact.MR Study

The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.

The report offers actionable and valuable market insights of Magnesium Sulphate. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Magnesium Sulphate Market across various industries and regions.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Magnesium Sulphate market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Magnesium Sulphate

This newly published and insightful report sheds light on Market Insights of Magnesium Sulphate, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Magnesium Sulphate Market.

The growth of global magnesium sulphate market goes hand in hand with the growth in its respective application industries. Furthermore, magnesium sulphate is witnessing new application areas such as nutraceuticals, advanced fertilizers and many more.

Hence, with its increasing penetration in novel applications within nutraceuticals along with a consistently increasing demand from the end-use industries, the market of magnesium sulphate is expected to rise with a moderate CAGR over the long term forecast (2018-2027). The demand of nutraceuticals is on a hike owing to rising consumer preference for natural dietary supplements, providing them nutrition and protection against chronic diseases.

Nutraceuticals are consumed exclusively or as a part of food additives or functional foods. Increasing incidences of chronic diseases and adverse health effects of conventional medicines have diverted consumer preference towards organic or natural products. Hence, the increasing demand of nutraceuticals creates a wide adoption pool for magnesium that in turn drives the global magnesium sulphate market till 2027. However, the market growth is hindered by volatility in pricing along with availability of different magnesium grades. 

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Magnesium Sulphate Market Segmentation
Fact.MR has studied the magnesium sulphate market with detailed segmentation on the basis of product, application and key regions.

Product
Heptahydrate
Anhydrous
Monohydrate

Application
Agriculture
Food & Feed additives
Pharmaceuticals & Personal Care
Chemicals
Pulp & Paper
Others

Region
North America
Latin America
Europe
East Asia
South Asia
Middle East & Africa

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Competitive Analysis
The global magnesium sulphate market consists of well-diversified global and regional players with global manufacturers capturing only 30% of the global market.

The prominent players of magnesium sulphate market include Giles Chemical, Jiangsu Kolod Food Ingredients Co., Ltd., K+S Group, Laizhou City Laiyu Chemical Co. Ltd., Mani Agro Chem Pvt. Ltd., PQ Corporation, Mag Products India Private Limited (MPIPL) and others. These key players are adopting various strategies such as capacity expansion, product launches, mergers & acquisitions, joint ventures etc. to strengthen their hold within the global magnesium sulphate market.

Production capacity expansion along with technology upgrades have been identified as the prime strategies adopted by these players in the global magnesium sulphate market. For instance, Weifang Huakang Magnesium Sulphate Co., Ltd. is gradually increasing its magnesium sulfate production capacity from 20,000 tons/annum to 50,000 tons/annum.

The company has purchased its production lines from Germany to meet the demand for magnesium sulfate. In addition, in 2019, the company expanded its production capacity of anhydrous magnesium sulphate at Wintershall site, Werra plant. Hence, such initiatives by the key players will continue to increase their footprint in the global magnesium sulphate market.

Asia Will be a Regional Frontrunner in the Magnesium Sulphate Market
On the basis of regional split, the global magnesium sulphate market has been divided into six major regions including North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa.

The study by Fact.MR revealed that East Asia along with South Asia & Oceania account for nearly 40% of the global market in 2018 in terms of value. Asia is a region having well established chemicals and pulp & paper industries. In addition, increasing agriculture output coupled with ever increasing food demand tends to increase the scope for magnesium sulphate within the region.

Moreover, with increasing population estimates and rapid urbanization, the agriculture and food industries are likely to witness an uplift thereby creating immense opportunities for the East Asia and South Asia & Oceania magnesium sulphate market. For instance, increasing awareness of nutraceuticals in Asia provides immense opportunities to the magnesium sulphate market.

In addition, key players of the magnesium sulphate market present in the Asian region are focusing on expanding their production capacities that aids the regional magnesium sulphate market. Some of the major manufacturers include Mag Products India Private Limited (MPIPL), ZIBO JINXING CHEMICAL CO., LTD., Weifang Huakang Magnesium Sulphate Co., Ltd, Mani Agro Chem Pvt. Ltd. and others.

Agriculture to Remain the Most Favorable Sector till 2027 in the Magnesium Sulphate Market
Magnesium sulphate finds huge adoption in agriculture industry with regards to fertilizers, herbicides etc. Being the backbone of global economy, agriculture continues to witness steady growth worldwide. With this, the demand for fertilizers is expected to increase in the coming years, which is likely to have a significant impact on the magnesium sulphate adoption.

Increasing use of magnesium in fertilizers has been observed as it facilitates the development and growth of plants and promotes photosynthesis as it is the central element of the chlorophyll molecule. Besides, it is both an activator as well as an enzyme that helps strength. Magnesium carries out efficient sugar synthesis, starch translocation, fat formation, and enhanced iron utilization.

Benefits offered by magnesium in plant health has translated into increased use in the fertilizer industry. Hence, with the aforementioned advantages and increasing agriculture output, the magnesium sulphate agriculture market is expected to growth nearly two times the growth of  the global GDP.

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More Valuable Insights on Magnesium Sulphate Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Magnesium Sulphate, Sales and Demand of Magnesium Sulphate, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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