Magnesium Sulphate Market Inches Towards Billion-dollar Mark Backed by Soaring Adoption in Pharmaceutical and Agricultural Industries: Future Market Insights

Magnesium Sulphate Market Inches Towards Billion-dollar Mark Backed by Soaring Adoption in Pharmaceutical and Agricultural Industries: Future Market Insights

PR Newswire

DUBAI, U.A.E, Sept. 10, 2020

DUBAI, U.A.E, Sept. 10, 2020 /PRNewswire/ -- According to a new market study by Future Market Insights (FMI), the global magnesium sulphate market is forecasted to witness healthy growth in terms of value between 2019 and 2029.

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The report attributes the growth of the market to the growing adoption of magnesium sulphate as a nutrient supplement, firming agent, flavor enhancer, and processing aid across pharmaceutical, food, and agriculture sectors. Along similar lines, the nutraceutical sector is expected to emerge as a substantial end-use sector in the years to come.

Owing to rising health consciousness among consumers worldwide, the sales of nutraceuticals are sprouting year-on-year, thereby necessitating higher production volume. On this premise, magnesium sulphate is gaining remarkable traction in the production of nutraceuticals due to its nutritional composition that offers numerous health benefits. 

Consumption of magnesium aids in regulating nerve and muscle function, blood pressure, sugar levels, and creation of bone, protein and DNA. Moreover, deficiency of magnesium leads to several chronic conditions including tremors and muscle spans. On the back of these facets, magnesium is finding significant adoption in the nutraceutical industry, which will continue to drive sales.

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"Market players are directing their efforts towards emerging economies such as India, Brazil, and China, owing to the concentration of agricultural production coupled with the presence of a flourishing pharmaceutical industry", remarks FMI analyst.

Magnesium Sulphate Market - Key Takeaways

Magnesium Sulphate Market - Key Trends

Magnesium Sulphate Market - Regional Analysis

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Magnesium Sulphate Market - Competitive Landscape 

Some of the key players operating in the market include K+S Aktiengesellschaft, PQ Corporation, Zibo Jinxing Chemical Co. Ltd.,  Giles Chemical, Rech Chemical Co., Mag Products India Private Limited, Mani Agro Chemical Pvt. Ltd., PERSIA PAYA MADAN, ZIBO JINXING CHEMICAL CO LTD., and Laizhou Guangcheng Chemical Co. Market players are focusing on upscaling their functional capacities through partnerships. On these lines, in 2019, three organizations namely K+S, MFS Africa, and Akorion entered into a tripartite agreement to promote breakthroughs in agriculture technology. 

Magnesium Sulphate Market - Taxonomy

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Get Valuable Insights into the Magnesium Sulphate Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global magnesium sulphate market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the magnesium sulphate market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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