New York, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The global Magnesium Glycinate Market size is slated to expand at ~ 5% CAGR between 2023 and 2033. The market is poised to garner a revenue of USD 1500 Million by the end of 2033, up from a revenue of ~USD 1236 Million in the year 2022. With the rising prevalence of malabsorption diseases such as Crohn's disease, the rapidly increasing demand for pharmaceuticals and nutritional supplements, including laxatives and antacids, has led to tremendous growth in the pharmaceuticals & nutraceuticals industry, which is expected to be a major growth driver for the global market.
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It is estimated that ~3 million adults (1.3%) in the United States have been diagnosed with inflammatory bowel disease (IBD), including Crohn's disease and ulcerative colitis. The pharmaceutical industry utilizes chemicals such as magnesium glycinate to manufacture medicines and drugs as it is a highly absorbable and bioavailable form of magnesium. Patients suffering from conditions that affect their magnesium levels, like diabetes or inflammatory bowel disease (IBD), may consider taking magnesium glycinate supplements as their anti-inflammatory properties help treat gastrointestinal problems.
Global Magnesium Glycinate Market: Key Takeaways
- Market in North America to propel the highest growth
- Pharmaceuticals segment to garner the highest growth
- Market in Asia Pacific to grow at the highest rate
Radically Growing Food Processing Industry to Boost Market Growth
Magnesium is an important mineral required for the proper functioning of the human body, essentially for the muscular system, bones, and nervous system. Hence, magnesium glycinate market is expected to see widespread demand with its rising utilization as a natural and healthy food additive in the pharmaceutical & nutraceuticals industries, as well as owing to its growing demand in the food processing and beverage industries, as it combines elemental magnesium with the amino acid glycine and is easily absorbed through the small intestine. Also, it is found that there are diminished levels of magnesium in many processed foods, and its utilization as a food additive (nutritional additive, antistain agent, and acidity regulator) to maintain the freshness of baked foods is surging. Furthermore, magnesium glycinate protects processed foods from mold and microbial growths such as yeast infections, extending their shelf life. It is also used as a preservative and acidifier to preserve foods such as those in jars, sachets, or pouches containing baby food or fermented beverages like beer and wine. Research states that the human body contains ~25 g of magnesium, which is essential for the functioning of more than 300 enzymes in humans, and around 90% of total body magnesium is contained in the muscles and bones.
Global Magnesium Glycinate Market: Regional Overview
The global magnesium glycinate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Chronic Disease Prevalence to Drive North American Growth
The magnesium glycinate market in the North American region is estimated to garner the largest revenue by the end of 2033. The growth of the market in the region can be attributed majorly to the increasing adoption of magnesium glycinate supplements in the treatment of non-communicable diseases (NCDs) such as type 1 and type 2 diabetes, cardiovascular diseases such as stroke, and others. These diseases are responsible for the growing healthcare spending as well as the rising number of incidences in the region. According to data, NCDs cause 3.9 million deaths in the Americas region each year, accounting for 34 percent of all deaths. Moreover, the regional market is expected to grow with the escalating demand for the product from patients suffering from osteoporosis, rheumatoid arthritis, and other diseases that are associated with pain in the bones or muscles, as this compound is highly useful for treating various musculoskeletal conditions.
Prospering Pharmaceutical Sector to Drive Growth in the Asia Pacific Region
The magnesium glycinate market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2033. The region's market growth can be attributed largely to rising pharmaceutical research and development, as well as the increasing presence of giant pharmaceutical companies in the region with a growing pool of patients and flourishing medical tourism. According to research, the value of the Chinese pharmaceutical industry reached nearly USD 85 billion in 2018, making it the biggest medical market in the Asia-Pacific region. Moreover, the prospering cosmetics industry as well as escalating demand for self-care products and personal care products is further expected to elevate regional market growth over the forecast period. Magnesium glycinate benefits include soothing and moisturizing properties and anti-inflammatory effects, owing to which it is used for the treatment of skin disorders, including itching and dryness of the skin. Moreover, more than 32% of consumers prefer using an anti-aging cream that has magnesium glycinate in its formulation.
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Global Magnesium Glycinate, Segmentation by Application
- Pharmaceuticals
- Food additives
- Feed additives
- Personal care products
The pharmaceuticals segment is anticipated to hold the largest revenue by the end of 2033. The rapidly increasing global healthcare expenditure, as well as increasing investment in pharmaceutical research and development (R&D) by various key market players, are expected to drive segment growth over the forecast period, in addition to the development of new therapeutics. According to a report, pharmaceutical companies in the United States spent an average of ~25% of their revenue on R&D. The increasing prevalence of neurological disorders, metabolic syndrome, diabetes, hyperlipidemia, asthma, preeclampsia, and migraine headaches, besides the blooming concern about muscle weakness and back pain among the middle-aged population and pregnant females, has forced pharmaceutical companies to develop magnesium supplements to curb magnesium deficiency in patients. It has been found that almost 50% of people in the United States face magnesium deficiencies. The feed industry segment is anticipated to hold the highest share owing to the growing cattle industry and dairy farming industry globally (livestock industry). Magnesium glycinate enhances the overall health and growth of animals and provides a good source of protein and amino acids, which promote muscle development in livestock.
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Global Magnesium Glycinate, Segmentation by Type
- Dry
- Liquid
The liquid segment is anticipated to hold the largest revenue by the end of 2033. The factors applicable to the growth of the segment include the rapidly changing lifestyles of the global population as well as the increasing healthcare spending together with the rising awareness about the availability of various dietary pills and nutritional supplements amongst health-conscious people for replenishing minerals and nutritional deficiencies, which is anticipated to boost the segment growth over the forecast period. The World Bank revelation of 2019 states that the global health expenditure per capita reached USD 1121.97. The rising level of anxiety, stress, and depression associated with the rising consumption of junk food, which causes stomach ulcers, heartburn, and acid indigestion, is fueling people's desire for liquid dietary supplements such as liquid MgGly. Liquid magnesium glycinate is water-soluble and can be easily absorbed into the body, providing nutritional balance and instantly relieving these symptoms.
A few of the well-known market leaders in the global magnesium glycinate market that are profiled by Research Nester are OHMG Brands Ltd., Ajinomoto Co., Inc., Avitech Nutrition Pvt. Ltd., Solvay SA, BASF SE, NovoTech Nutraceuticals Inc., Dunstan Nutrition Ltd., Albion Laboratories, Inc., Aliphos Belgium SA/ NV, Shijiazhuang Donghua Jinlong Chemical Co Ltd., Schaumann GmbH & Co. KG., and other key market players.
Recent Development in the Global Magnesium Glycinate Market
- Avitech Nutrition Pvt. Ltd., a manufacturer and marketer of a wide range of animal nutrition products launched Performins, an organic form of glycinates into the market, used in animal feed to act as an enhancer for animal feeds.
- OHMG Brands Ltd., a U.K.-based company, launched the world’s first magnesium blend drink that is enriched with three types of glycinates such as magnesium threonate, magnesium citrate, and magnesium glycinate. This drink will act as de- stress remedy in order to release stress and anxiety levels.
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