The global magnesium stearate market is projected to reach a value of $2,637.6 million by 2030, increasing from $1,492.3 million in 2019, advancing at a 5.3% CAGR during the forecast period (2020-2030).
The market is growing due to the swift expansion of the pharmaceuticals industry in Asia-Pacific and the rising consumption of magnesium stearate in the personal care industry. In terms of form, the market is divided into flakes and powder, between which, the powder division held the larger share of the market in 2019.
The demand for powdered magnesium stearate is high in the pharmaceuticals industry, which can be ascribed to its growing utilization as an ideal release agent during the drug manufacturing process. This compound prevents the sticking of tablets to the manufacturing equipment and thus, makes the production process time-saving and efficient. Furthermore, the use of powdered magnesium stearate is also growing in cosmetic products, including foundations, pressed powders, and eye shadow, since it has the ability to function as an anti-caking agent.
Geographically, the Asia-Pacific (APAC) region dominated the magnesium stearate market in 2019, which can be ascribed to the increasing demand of this compound from food & beverages, pharmaceuticals, personal care industries, and plastics industries.
Chemical industries in APAC are increasingly focusing focus on expanding their facilities for meeting the surging demand from end-use verticals. In addition to this, the growing requirement for medicated capsules and tablets, owing to the surging prevalence of various diseases, is also predicted to result in the increasing requirement for magnesium stearate in APAC during the forecast period.
A major trend being observed in the magnesium stearate market is the rising demand for this compound in the food & beverages industry. The consumption of magnesium stearate has been increasing in the food & beverages industry since the past few years because of the growing awareness regarding its beneficial properties as a food additive.
Owing to this, magnesium stearate is being utilized as a food additive for a number of products, including granulated mints, chewing gums, and confectionery items, and food supplements.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Industry Outlook 4.1 Definition of Market Segments 4.1.1 By Form 184.108.40.206 Powder 220.127.116.11 Flakes 4.1.2 By Application 18.104.22.168 Binders & fillers 22.214.171.124 Texturizers 126.96.36.199 Food additives 188.8.131.52 Thickeners 184.108.40.206 Others 4.1.3 By End-Use Industry 220.127.116.11 Pharmaceuticals 18.104.22.168 Food & beverages 22.214.171.124 Personal care 126.96.36.199 Others 4.2 Market Dynamics 4.2.1 Trends 188.8.131.52 Increasing adoption in the food & beverages sector 4.2.2 Drivers 184.108.40.206 Rapid growth in the pharmaceuticals sector in APAC 220.127.116.11 Increasing consumption of magnesium stearate in the personal care industry 18.104.22.168 Impact analysis of drivers on market forecast 4.2.3 Restraints 22.214.171.124 Health risks associated with consumption of magnesium stearate 126.96.36.199 Impact analysis of restraints on market forecast 4.2.4 Opportunities 188.8.131.52 Unexplored market potential in the African region 4.3 Impact of COVID-19 4.3.1 Global Share by Countries 184.108.40.206 Contribution of Countries in Global Manufacturing Output 220.127.116.11 Contribution of Countries in Global Export and Import (2019) 18.104.22.168.1 Top 20 Countries by Export ($B) 22.214.171.124.2 Top 20 Countries by Import ($B) 4.3.2 Global Scenario of COVID-19 Impact 126.96.36.199 COVID-19-Infected Countries 4.3.3 Global Scenario 188.8.131.52 GDP Growth Rate (2019) 184.108.40.206 GDP Growth Rate (2020) 220.127.116.11 GDP Growth Rate Projection for 2021 18.104.22.168 Assessment of COVID-19 Impact on GDP and Economic Forecast 22.214.171.124 Assessment of COVID-19 Impact on Workforce Across Various Sectors 4.3.4 Impact of Covid-19 on Global Magnesium Stearate Market
Chapter 5. Global Market Size and Forecast 5.1 By Form 5.2 By Application 5.3 By End-Use industry 5.4 By Region
Chapter 6. APAC Market Size and Forecast
Chapter 7. North America Market Size and Forecast
Chapter 8. Europe Market Size and Forecast
Chapter 9. MEA Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. Major Markets 11.1 U.S. Market Size and Forecast 11.2 China Market Size and Forecast 11.3 Germany Market Size and Forecast 11.4 India Market Size and Forecast 11.5 Canada Market Size and Forecast
Chapter 12. Competitive Landscape 12.1 Competitive Benchmarking of Key Players 12.2 List of Other Players 12.3 Recent Strategic Developments of Key Players
Chapter 13. Company Profiles 13.1 Business Overview 13.2 Product and Service Offerings