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(IndustryNews247.Com, October 10, 2022 ) According to Precision Business Insights (PBI), the latest report global magnesium stearate market size was valued at USD 1,460.2 million in 2021 and is poised to grow at a significant CAGR of 5.4% during the forecast period 2022-28. A white powdery combination of magnesium salts of fatty acids derived from edible oils is known as magnesium stearate. Its molecular formula is Mg (C18H35O2)2, and it is regarded as an inorganic chemical compound because it is insoluble in water. Magnesium stearate use is regarded as safe at less than 2500 mg daily. The substance has minimal toxicity and chemical characteristics including softness and insolubility. Multiple end-use sectors' increasing demand for magnesium stearate is spurring market expansion.
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The Magnesium Stearate Market Growth Factors
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 stabilizing 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. 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 Magnesium Stearate Market Trends
• Medical pills, capsules, and powders are made using magnesium stearate as an anti-adherent, which is expected to be the major market trend.
• Due to globalization and the growing millennial population, new dishes from one region are easily accessible across much of the world. People are increasingly being encouraged to try out new meals and beverages by expanding social media usage and rising disposable incomes.
The Magnesium Stearate Market Segmentation
The global Magnesium Stearate Market on the basis of Type, the market is categorized into Cosmetics Grade Magnesium Stearate, Food Grade Magnesium Stearate and Pharmaceutical Grade Magnesium Stearate. On the basis of Application, the market is classified into Food additive, Powder & tablet lubricants and Binders & Fillers. On the basis of End User, the market is divided into Plastic industry, Personal care industry, Food manufacturers, Paint industry and pharmaceutical manufacturers.
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The Magnesium Stearate Market Regional Analysis
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 time 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.
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