The global Magnesium Gluconate Market is estimated to be valued at US$ 7 million in 2022 and is expected to exhibit a CAGR of 7% over the forecast period 2020-2025, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Magnesium Gluconate is a mineral supplement used to prevent and treat low levels of magnesium in the body. It is easily absorbed by the body and provides numerous health benefits. Magnesium plays a crucial role in various biological processes, including muscle and nerve function, regulating blood pressure, and maintaining a steady heartbeat. The increasing prevalence of magnesium deficiency, along with the growing awareness about the importance of maintaining optimal magnesium levels, is driving the demand for magnesium gluconate products.
Market Key Trends:
One key trend in the global Magnesium Gluconate market is the rising demand for nutritional supplements. With the growing focus on overall health and well-being, consumers are increasingly inclining towards dietary supplements to fulfill their nutritional requirements. Magnesium gluconate supplements are gaining popularity due to their ability to boost energy levels, support bone health, improve cardiovascular health, and enhance muscular function. Moreover, the rising adoption of a sedentary lifestyle and unhealthy eating habits has led to an increase in magnesium deficiencies, further propelling the demand for magnesium gluconate.
For instance, according to the National Health and Nutrition Examination Survey (NHANES), around 48% of the U.S. population was estimated to have inadequate intake of magnesium between 2005 and 2016. This indicates a significant market opportunity for magnesium gluconate manufacturers to cater to the rising demand for magnesium supplements.
PEST Analysis:
Political: The regulatory landscape plays a crucial role in the magnesium gluconate market. Government regulations regarding the safety, efficacy, and labeling of dietary supplements influence the manufacturing and marketing practices of magnesium gluconate products.
Economic: The economic factors such as disposable income, consumer purchasing power, and healthcare expenditure contribute to the demand for magnesium gluconate supplements.
Social: Increasing awareness about the importance of maintaining optimal magnesium levels and improving overall health is driving the demand for magnesium gluconate products. Moreover, the rise in the aging population and their inclination towards preventive healthcare measures further fuels market growth.
Technological: Advancements in manufacturing processes and technologies have led to the development of innovative and convenient delivery formats for magnesium gluconate supplements. This has widened the consumer base and boosted market growth.
Key Takeaways:
- The Global Magnesium Gluconate Market Growth is expected to witness high, exhibiting a CAGR of 7% over the forecast period, due to increasing demand for nutritional supplements.
- North America is expected to be the fastest-growing and dominating region in the Magnesium Gluconate market. The rising awareness about magnesium deficiencies and the availability of a wide range of dietary supplements drive the market in this region.
- Key players operating in the global Magnesium Gluconate market include Jost Chemical Co., Qingdao Dacon Trading Co., Ltd., Anhui Xingzhou Medicine Food Co., Ltd., Global Calcium, Shandong Xinhong Pharmaceutical Co. Ltd., Liaoyang Fuqiang Food Chemical Co. Ltd., Ferro chem Industries, Santa Cruz Biotechnology, Inc., Nantong Feiyu Fine Chemical Co. Ltd., and Life NLB. These players focus on research and development activities to introduce innovative products and gain a competitive edge in the market.
In conclusion, the global Magnesium Gluconate market is poised for significant growth due to the increasing demand for nutritional supplements. The rising awareness about the importance of magnesium in maintaining overall health, coupled with the availability of convenient delivery formats, is driving market expansion. The key players in this market continue to invest in research and development to introduce advanced products and capture a larger market share.
The Sodium Gluconate Market 2021 research report gives emerging industry data, global segments and regional outlook.
This report covers up all details such as size, share, value, growth, restraints, and opportunities for the year 2020 to 2027.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.This research report also includes profiles of major companies operating in the global market.
Some of the prominent players operating in the global sodium gluconate market are Qingdao Kehai, Shandong Fuyang, Shandong Kaison, Shandong Parkson, Shandong Qilu Group, Shandong Xinhong, Wanshang Group, Weifang Honghai, Xiwang Group, And Zhucheng Dongxiao.
This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.Get more information on "Global Sodium Gluconate Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/sodium-gluconate-market/download-sampleMarket DynamicsThe rising demand for sodium gluconate from construction and industrial sectors owing to its use as a water reducer in concrete, mortar, and gypsum is primarily driving the market growth.
