Market Size of Magnesium Stearate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Magnesium Stearate Market Analysis
The Global Magnesium Stearate Market is projected to register a CAGR of over 6% during the forecast period (2021-2026).
Due to the recent outbreak of COVID-19, although several industries have been hard hit, the pharmaceutical industry which accounts for the largest share of the magnesium stearate market application has witnessed a strong development considering it as an essential industry vital for human survival, which is, in turn, driving the market studied. The pandemic has changed the insight of the consumers globally and people around the world are now more inclined towards healthcare and are spending more on health and pharmaceutical amenities, which is boosting the consumption of magnesium stearate in the medical industry. The healthcare spending currently in the United States is USD 11,674 million in the 2020-2021 period. However, the personal care segment is negatively impacted by COVID-19 thus slightly impacting the magnesium stearate market, it is estimated that the makeup sales in the United States were down by 22% in the first quarter of 2020, compared to that of the previous year.
- In the medium term, the growing use of magnesium stearate as fillers & binders and lubricants in the pharmaceutical industry is expected to be the driving factor in the market studied.
- On the flip side, health risks associated with magnesium stearate and probable contamination during the manufacturing process are the factors hindering the market growth.
- Asia-Pacific region dominated the market and is expected to dominate during the forecast period.
Magnesium Stearate Industry Segmentation
Magnesium stearate is a simple salt that is produced using mineral magnesium and saturated fat stearic acid. It is majorly used as a nutritional supplement in the food & beverage industry and in several pharmaceutical applications. The market is segmented by end-user Industry and geography. By end-user industry, the market is segmented into pharmaceutical, food & beverage, personal care, plastics, and other end-user industries. The report also covers the market size and forecasts for the Magnesium Stearate Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD Million).
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Magnesium Stearate Market Size Summary
The magnesium stearate market is experiencing significant growth, driven primarily by its extensive application in the pharmaceutical industry. This compound serves as a crucial inactive ingredient, offering lubricating properties that enhance the production of tablets and capsules, ensuring consistency and quality in medication. The pharmaceutical sector's expansion, particularly in regions like Asia-Pacific, is a key factor propelling the market forward. The region's dominance is further supported by countries such as India and China, which are major players in the global pharmaceutical landscape. Despite challenges posed by health risks and potential contamination during manufacturing, the market's trajectory remains positive, bolstered by the increasing demand for medical drugs and the essential role of magnesium stearate in drug formulation.
In addition to pharmaceuticals, the demand for magnesium stearate is also influenced by its applications in the food processing and plastics industries, particularly in India. The country's burgeoning food and beverage sector, alongside its robust plastics and paints industries, contributes to the rising consumption of magnesium stearate. The fragmented nature of the global market, with both international and local players like Baerlocher GmbH and Valtris Specialty Chemicals, underscores the competitive landscape. As these industries continue to grow, the magnesium stearate market is expected to maintain its upward momentum, with Asia-Pacific, led by India, playing a pivotal role in its development during the forecast period.
Magnesium Stearate Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Use of Magnesium Stearate as Fillers & Binders and Lubricants in the Pharmaceutical Industry
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1.1.2 Other Drivers
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1.2 Restraint
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1.2.1 Health Risk Associated with Magnesium Stearate
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1.2.2 Probable Contamination During Manufacturing
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1.2.3 Impact of COVID-19 Outbreak
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 End-User Industry
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2.1.1 Pharmaceutical
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2.1.2 Food & Beverage
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2.1.3 Personal Care
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2.1.4 Plastics
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2.1.5 Other End-User Industries (Paints& Coatings, etc.)
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle-East and Africa
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Magnesium Stearate Market Size FAQs
What is the current Magnesium Stearate Market size?
The Magnesium Stearate Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Magnesium Stearate Market?
Baerlocher GmbH, Nimbasia, Valtris Specialty Chemicals, James M. Brown Ltd. and Faci Asia Pacific Pte Ltd are the major companies operating in the Magnesium Stearate Market.
