Global Food Grade Magnesium Derivatives Market 2024

Global Food Grade Magnesium Derivatives Market 2024

The food grade magnesium derivatives market is expected to experience increased demand in the near future, driven by the growing production of confectionery products such as chocolates and sweets, as well as non-alcoholic beverages like functional drinks.

In 2023, the inorganic product segment dominated the market in terms of revenue due to its use as a laxative and additive in the food industry. This segment was valued at USD 493 million and is projected to reach USD 676 million by 2029, with a CAGR of 4.6% during the forecast period. Favorable government regulations in developed economies offer further opportunities for organic magnesium derivatives.

North America is a highly regulated market for the food industry, and the region's growth can be attributed to rising food and beverage spending, increased production, and the presence of key manufacturers. In 2023, North America dominated the regional segment by revenue and volume, valued at USD 310 million, and estimated to reach USD 413 million in 2029, with a CAGR of 4.2%. With top food and beverage manufacturers operating in the region, the demand for magnesium derivatives in North America is expected to remain high in the near future.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the type, application, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global baby bottle market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for food grade magnesium derivatives can be segmented by type: inorganic, organic, magnesium chelates. Globally, the inorganic segment made up the largest share of the food grade magnesium derivatives market, representing more than 54.1% of the total market.

Food grade magnesium derivatives market is further segmented by application: bakery, confectionery, dairy, alcoholic beverages, nonalcoholic beverages, others.

Based on region, the food grade magnesium derivatives market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. According to the research, North America had the largest share in the global food grade magnesium derivatives market, representing more than 34% of the total market.

The report also provides a detailed analysis of several leading food grade magnesium derivatives market vendors that include K+S AG, Compass Minerals International, Inc., Grecian Magnesite S.A., Sinwon Chemical Co., Ltd., Martin Marietta Magnesia Specialties, LLC, NikoMag Open Joint-Stock Company, ICL Group Ltd., Jungbunzlauer Suisse AG, Corbion N.V., Dr. Paul Lohmann GmbH KG, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Market Segments Covered in Global Food Grade Magnesium Derivatives Industry Analysis:

i.) Type

• Inorganic
• Organic
• Magnesium chelates

ii.) Application

• Bakery
• Confectionery
• Dairy
• Alcoholic beverages
• Nonalcoholic beverages
• Others

iii.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America