Global Magnesium Citrate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Magnesium Citrate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Magnesium citrate is an important magnesium supplement. The main applications of magnesium citrate are nutritional supplements, food and beverage industry and pharmaceutical industry etc. Magnesium citrate is usually divided into anhydrous type, nonahydrate type.

Market Overview:

The latest research study on the global Magnesium Citrate market finds that the global Magnesium Citrate market reached a value of USD 56.31 million in 2022. It’s expected that the market will achieve USD 68.86 million by 2028, exhibiting a CAGR of 3.41% during the forecast period.

The growth of the Magnesium Citrate market is driven by the downstream demand market. As the global economy develops, the population continues to increase. Growing market demand plays an active role in the expansion of the Magnesium Citrate market. Higher product quality and more affordable products will be one of the growth opportunities in this market in the future. At the same time, competition in new regions may become more intense. This may become a factor hindering market growth.

Market Opportunities

The market will pay more attention to brand. Now, for many customers, the brand awareness is deeper, the brand value is deeper, and the brand consumption tendency is more obvious. To some extent, brand is word of mouth and brand is guarantee. Most customers understand that companies without brands lack integrity. However, building a brand requires ability, faith and investment. Therefore, companies should pay attention to technical challenges and create safer and more effective products.

Market Risk

Magnesium citrate is an important magnesium supplement. Raw materials occupy a large production cost, and the fluctuation of bulk product prices in the market has a great influence on raw material prices. Therefore, for players, fluctuations in raw material prices will have a certain impact on their production plans, and rising raw material prices will affect corporate profits.

Market Driving Force

Magnesium citrate is composed of magnesium carbonate and sodium citrate. It is an organic chemical traditional Chinese medicine preparation with efficacy and action. For this reason, it is often used as a tonic for health care nutrition. In addition, because magnesium is easily digested and absorbed by the body, it is a very important source of magnesium nutrition.

Region Overview:

Geographically, North America held the largest market share – 36.48% in 2021.

Company Overview

Gadot Biochemical Industries, Jungbunzlauer, JIANGSU KOLOD FOOD were the top 3 players in the Magnesium Citrate market in 2022, taking up a market share of 27.6% together.

Segmentation Overview:

The Anhydrous Type segment by type showed a value growth of 75.57% in 2021.

Application Overview:

The market's largest segment by application is the segment Nutrient Supplement, with a market share of 60.19% in 2021.

Key Companies in the global Magnesium Citrate market covered in Chapter 3:

Xinyang Chemical
FEIYU FOOD-TECH
JIANGSU KOLOD FOOD
Jungbunzlauer
Gadot Biochemical Industries
Jost Chemical
Yunbo Chemical
Nature Food Technology
Global Calcium
Dr. Paul Lohmann
Dongtai Food Ingredients
Penglai Marine

In Chapter 4 and Chapter 14.2, on the basis of types, the Magnesium Citrate market from 2018 to 2029 is primarily split into:

Anhydrous Type
Nonahydrate Type

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Magnesium Citrate market from 2018 to 2029 covers:

Nutrient Supplement
Food & Beverage Industry
Pharmaceutical Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)