Magnesium Glycinate Market Size & Share, by Type (Dry, Liquid); Application (Pharmaceuticals, Food Additives, Feed Additives, Personal Care Products) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

Global Magnesium Glycinate Market Definition

Magnesium glycinate is a chelate produced from the magnesium and amino acid glycine. The bioavailability of magnesium glycinate is higher compared to magnesium citrate and magnesium oxides. Magnesium glycinate is highly utilized in the pharmaceutical, food, and personal care industry. Magnesium glycinate is used as a supplement to prevent deficiency of magnesium in people. Also, other applications of magnesium glycinate include applications in the disorders such as migraine headaches, heart burns, indigestion, diabetes, and muscle cramps.

Magnesium glycinate is available in two forms which include dry and liquid forms. The dry form of magnesium glycinate is available in powder which can be used by combining it with water, and the liquid form can be consumed directly. Liquid glycinate has more absorbing capacity than dry form. It is also used as an ingredient in the food industry. It enhances the nutritional value of the food products and acts as an acidity regulator. The addition of magnesium glycinate to food products increases their shelf life by acting as a preservative and thus preventing spoilage of the food.

Other applications of magnesium glycinate include application in the feed of animals. This is combined in the animal feed to provide a magnesium source and improve amino acid in the animals. This is expected to help in the development of muscle growth and add strength to their muscles. It also benefits reducing the gastrointestinal problems of the animals with its anti-inflammatory property. Further, the addition of magnesium glycinate to anti-aging formulations in cosmetics increases its efficiency.  Magnesium glycinate can treat dry and itchy skin owing to its moisturizing properties.

Global Magnesium Glycinate Market: Key Insights

Global Magnesium Glycinate Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global magnesium glycinate market is estimated to garner a revenue of USD 1500 Million by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 1236 Million in the year 2022. The growth of the market can be attributed to the expansion of the chemical industry worldwide. For instance, the Indian chemical industry accounted for nearly USD 170 billion in the year 2019 and is anticipated to reach around USD 300 billion by 2025. The market is expanding owing to the increasing use of chemicals in many sectors including food processing, automobiles, pharmaceuticals, and the construction industry, for instance, the pharmaceutical industry utilizes several chemicals including magnesium glycinate to manufacture medicines and drugs. Additionally, the growing textile industry also has a huge impact on the rising use of chemicals which in turn impacts the growth of the magnesium glycinate market.

Glycinates are widely used in the manufacturing process of food and beverages, animal feed, and the healthcare sector. These are the byproducts obtained from the salt or ester of glycine and amino acids. The growing awareness of people about health, nutritional deficiencies, and concern regarding the environment is estimated to have a positive impact on market growth across the globe. The increasing preference and adoption of people towards products originating from plants have made the manufacturers prepare glycinate-enriched products to meet the demand associated with mineral deficiency. Moreover, the rising industrial production across the world is estimated to boost the global magnesium glycinate market growth during the forecast period. For instance, the rate of industrial production in China increased by nearly 4% between July 2020 and July 2022 as compared to the previous year.

Global Magnesium Glycinate Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Health Expenditure Among the Global Population – Magnesium glycinate is a supplement that boosts magnesium levels in people with a deficiency of the mineral. Magnesium is a nutrient that maintains the body’s processes including muscle development, nerve functioning, blood glucose levels, and blood pressure.  Increasing healthcare spending is hence expected to be a major growth driver for the global market. As per The World Bank, as of 2019, the current health expenditure per capita was USD 1121.97.

• Increasing Research Expenditure with Growing Research and Development Activities – The growth of the global magnesium glycinate market, over the forecast period, can be further ascribed to the rising investments in R&D activities to continuously bring up more feasible solutions for medical procedures using this chemical. According to research reports, since 2000, global research and development expenditure has more than tripled in real terms, rising from approximately USD 680 billion to over USD 2.5 trillion in 2019.

• Increasing Expansion of the Chemical Industry across the Globe Owing to the Rising Number of Industries – The global chemical industry garnered revenue of nearly USD 4 trillion around the world in the year 2021.

• Increasing Government Support in Chemicals – For instance, within the Union Budget 2022-23, the Indian government allocated approximately USD 27 million to the Department of Chemicals and Petrochemicals.

• Increasing Urban Population across the World with Rising Disposable Income of People – Statistics provided by The World Bank indicate that approximately 4.5 million people reside in urban areas, representing 57% of the total population. This is expected to influence healthcare spending positively and hence boost the growth of the global magnesium glycinate market.

Challenges

• Restrictions Imposed by Government
• Lack of Expert Professionals
• High Production Cost – The production of pure magnesium glycinate is expensive as there are other alternatives with impurities added to the magnesium glycinate during manufacturing. Magnesium oxide is found in the alternatives of magnesium glycinate powder while hypromellose, or hydroxypropyl methylcellulose are the compounds found in magnesium glycinate capsules. So, to produce purely original content is costly and this hinders the growth of the market.

Global Magnesium Glycinate Market Segmentation

The global magnesium glycinate market is segmented and analyzed for demand and supply by application into pharmaceuticals, food additives, feed additives, and personal care products. Out of these segments, the pharmaceuticals segment is expected to hold the highest growth by the end of the year 2033. The growth of the segment can be attributed to the existence of a huge patient pool that requires pharmaceutical treatment. Moreover, rising healthcare expenditure per capita on healthcare is also estimated to add to the growth of this segment in the market. As per The World Bank, the current health expenditure of the year 2019, accounted for 9.83% of the global GDP. The increasing concern of people regarding health increases the early diagnosis of disease or health conditions. Magnesium glycinate is used as a magnesium supplement in patients with magnesium deficiency. Magnesium also helps to prevent other health conditions such as metabolic syndrome, diabetes, hyperlipidemia, asthma, preeclampsia, and migraine headaches. The increased incidence of these disorders across the world rises the need for magnesium supplements thereby boosting market growth.

The global magnesium glycinate market is also segmented and analyzed for demand and supply by type into dry and liquid forms. Among these segments, the liquid form is estimated to Garner the largest share of the market. Liquids are more popular than dry powder as they are easily observed in the body. Also, many patients are in a weak state where they are not able to consume any solid or dry form of medicine. Additionally, liquids are believed to be soft and easy on the stomach of the patient. The increasing adoption of supplements among people these days is estimated to drive the market. These supplements are used to provide nutritional balance and promote a healthy lifestyle. Further, the rising consumption of spicy and outdoor foods is causing stomach ulcers, heartburns, and acid indigestion problems. Magnesium is used to relieve these symptoms.

Our in-depth analysis of the global magnesium glycinate market includes the following segments:

Global Magnesium Glycinate Market Regional Synopsis

The North American magnesium glycinate market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the increasing adoption of magnesium glycinate for various applications such as the treatment of NCDs, diabetes, osteoporosis, and usage as an antidepressant in the pharmaceutical industry; magnesium glycinate as an amino acid resource which is essential for manufacturing personal care products and observed a rising use of magnesium glycinate in the packed food products as food additives in this region. It was observed that, in 2018, 51.8% (129 million) of civilian, noninstitutionalized adults were identified with at least one of ten chronic or NCD conditions in US. Magnesium is prescribed to pregnant patients to prevent magnesium deficiency. The increasing percentage of pregnant people in the region owing to the highest teen pregnancy is estimated to drive the market growth. Also, as per the estimations, there are more people in the United States with a deficiency of magnesium.

Top Featured Companies Dominating the Global Magnesium Glycinate Market

• Ajinomoto Co., Inc.
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• 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.