The Magnesium Stearate market is valued at USD 35.1 Million in 2022 and is projected to grow at a CAGR of 5.6% during the forecast period, to reach a value of USD 57.8 Million by 2032. Newly released data from Future Market Insights market analysis shows that global Magnesium Stearate demand is projected to grow year-on-year (Y-o-Y) growth of 3.2% in 2022.
Attributes
Details
Market Size Value in 2022
USD 35.1 Million
Market Forecast Value in 2032
USD 57.8 Million
Global Growth Rate (2022 to 2032)
5.6% CAGR
Forecast Period
2022 to 2032
Collective Value Share: Top 3 Countries (2021A)
42.4%
Magnesium stearate is a salt of stearic acid, an 18-carbon fatty acid that is present in many foods. It is frequently employed in the manufacturing of medicines, nutraceuticals, and cosmetics, and it was found in 108 of the top 200 drugs from the year 2003. It is an excipient, an innocuous component used to create the right consistency or form for the active ingredient in a capsule or tablet. By serving as a lubricant, magnesium stearate is used in the production of pharmaceutical and nutraceutical capsules and tablets.
Magnesium stearate aids in the uniform distribution of active chemicals in capsule fill and tablets, ensuring constant and precise dosing by encouraging the smooth flow of contents through production machinery.
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2017 to 2021 Magnesium Stearate Market Outlook Compared to 2022 to 2032 Forecast
The market grew with a CAGR of 3.7% between 2017 and 21, as the majority of respectable dietary supplement and medicine producers employ magnesium stearate and stearic acid to increase product consistency and quality for decades now.
The drug is deemed safe enough to be administered via a variety of methods, including oral capsules, inhaled powders,6,7 oral powders, tablets, sublingual tablets, vaginal suppositories, topical formulations, intravitreal implants, and injections. It is extensively utilized not only in the creation of medications and dietary supplements, but also in several food items, such as candies, spices, and baking ingredients
The Following Are the Main Elements That Are Anticipated to Influence the Dynamics of the Global Market for Magnesium Stearate
As a medication excipient- It is crucial to note that magnesium stearate is widely used in pharmaceuticals because of its anti-adherent qualities, which allow for the long-term stabilization of any medical substance. As a result, it is anticipated that demand for magnesium stearate will rise going forward because the substance will continue to be an ingredient in the majority of pharmaceuticals and capsules.
As a binding component- Due to the increase in residential and commercial real estate throughout the world, the use of magnesium stearate as a binding agent in paints will increase the compound's production.
A Lubricant-Magnesium stearate will become more popular as a result of its ability to prevent materials from clinging to machinery used to make pharmaceutical tablets.
Some of the less well-known causes propelling the expansion of the global market include the usage of magnesium stearate in baby formula, other dietary supplements, as well as cosmetic items. The compound's contentious status isn't the only factor impeding the market's expansion, though. The use of magnesium stearate is subject to various regional and severe international environmental restrictions, which is limiting the size of the magnesium stearate market globally. Another significant barrier to the expansion of the international market is the high cost of extracting or obtaining magnesium stearate as a raw material.
Additionally, the compound's use in personal care products has increased significantly, especially in China, the USA, Germany, France, India, and South Korea. Magnesium stearate can work wonders as a lubricant and texturizer in cosmetics. Moreover, it is frequently utilized as a cream thickener and in haircare items like shampoos, conditioners, and hair masks.
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Country-wise Insights
Europe to Uplift Demand for Magnesium Stearate
In the upcoming years, Europe has anticipated to s growth in the market. Since the United Kingdom leaving the European Union, profitable parallel commerce in the pharmaceutical business has been taking place in Europe. Additionally, Central and Eastern Europe markets, including those in Belarus, Bulgaria, Greece, the Republic of Macedonia, Moldova, Montenegro, and Romania, are anticipated to continue to be lucrative markets for multinational pharmaceutical companies, which is anticipated to increase product demand throughout the forecast period.
China to fuel the Market Growth
One of the world's major producers of pharmaceuticals is China. Due to encouraging government measures, it is predicted that pharmaceutical manufacturing in the nation will increase at a notable CAGR throughout the same period. Furthermore, with the presence of various global corporations, the personal care business in China is growing quickly.
Cosmeceuticals, or goods with anti-aging or acne-treatment capabilities that blend cosmetics and pharmaceuticals, are likewise becoming more and more well-liked in the nation. The personal care market in China is predicted to expand as consumers become more conscious of natural and organic goods. In turn, it is anticipated that this will increase demand for magnesium stearate.
Category-wise Insights
Powder Form to Show Higher Consumption
Based on form, the powder category dominated the magnesium stearate market in 2022. Due to its use as a suitable release agent during the production of drugs, powdered magnesium stearate is in great demand from the pharmaceutical industry. Utilizing the compound makes the production process effective and time-saving by preventing tablets from adhering to the manufacturing equipment.
Due to its capacity to act as an anti-caking agent, the use of the compound's powdered form has also increased in cosmetic items such as pressed powders, foundations, and eye shadows. The consumption of the compound is anticipated to rise over the forecast period due to the expansion of these end-use industries.
The Pharmaceuticals Industry Will Display the Fastest-Growing Demand
During the projection period, the pharmaceuticals category is anticipated to have the fastest-growing demand for the substance, primarily due to rising awareness of its potential use as a reliable release agent, as well as a cheap binder and filler, in medicines. Additionally, the consumption of the compound is anticipated to increase further shortly due to increased investments in the pharmaceutical sector, particularly in developing economies.
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Competitive Landscape
The magnesium stearate market is consolidated on a global scale. Only a small number of businesses are active on a global and regional scale. Kirsch Pharma GmbH, PT Halim Sakti Pratama, Parchem Fine & Specialty Chemicals, Nimbasia, Baerlocher GmbH, Valtris Specialty Chemicals, and FACI SPA are significant businesses that operate on the international market.
Scope of Report
Attribute
Details
Market Size Value in 2022
USD 35.1 Million
Market Forecast Value in 2032
USD 57.8 Million
Global Growth Rate
5.1% CAGR
Forecast Period
2022 to 2032
Historical Data Available for
2017 to 2021
Market Analysis
MT for Volume and USD Million for Value
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa
Key Countries Covered
USA, Canada, Brazil, Mexico, Argentina, Chile, Peru, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, North Africa, and others
Key Market Segments Covered
End Use Application
Key Companies Profiled
Sinwon Chemical Co. Ltd.
Baerlocher GmbH
James M. Brown Ltd.
Merck KGaA
Hefei TNJ Chemical Industry Co. Ltd.
Thermo Fisher Scientific Inc.
Peter Greven GmbH & Co. KG
Struktol Company of America LLC
Haihang Industry Co. Ltd.
Tokyo Chemical Industry Co. Ltd.
Others
Pricing
Available upon Request
Magnesium Stearate Market by Category
By Form:
Powder
Flakes
By End Use Application:
Bakery
Beverages
Confectionary
Dairy
Jams
Soups
Sauces, Dressings & Condiments
Processed Food & Beverages
Infant Formula
Beauty and Personal Care
Animal Feed
Pharmaceuticals
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
Frequently Asked Questions
How much worth is the Magnesium Stearate industry?
The Magnesium Stearate market is estimated to reach sales of nearly USD 35.1 Million by 2022.
At what CAGR is the market expected to expand through 2032?
Magnesium Stearate market revenue is expected to increase at a CAGR of around 5.1% during the period 2022 to 2032.
How was the performance of Magnesium Stearate over the past half-decade?
Magnesium Stearate sales increased a CAGR of around 3.7% over the past half-decade.
What will be the market for Fruit & Vegetable ingredients worth in 2032?
The global Magnesium Stearate market value is estimated to be around USD 35.1 Million in 2032.
Which are the top countries driving the Magnesium Stearate market demand?
The top countries driving the Magnesium Stearate demand are the USA, Germany, China, and the United Kingdom.
