Magnesium Phosphate Market in food & beverage application is anticipated to witness a significant growth over the forecast period.
— North America Magnesium Phosphate Market is projected to register a substantial CAGR over 2019-2024, driven by the robustly expanding pharma sector. Elaborating further, the National Health Interview Survey, which was conducted between 2013 and 2015, further noted that the prevalence of arthritis and osteoarthritis is expected to increase in the coming decades. Considering these statistics and the growing risk of orthopedic ailments, the demand for magnesium phosphate from biomedical applications is likely to witness a drastic uptick in the North America.
Asia Pacific dominates the magnesium phosphate market and holds the maximum volume share of over 45% in 2017. Rising food & beverage and agriculture industries in this region are projected to fuel the market demand. Growing government focus and support on training the farmers to enhance plant growth, crop nutrition and yield are further driving the business growth.
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Magnesium phosphate market in food & beverage application is anticipated to witness a significant growth over the forecast period. This growth can be credited to factors such as enhanced energy production, maintaining mineral balance and enzyme activity regulation. Strong outlook in bakery industry as a leavening agent will enhance the product penetration in food industry. In addition, reduced chances of diabetes, heart diseases and hypertension will propel the business size.
Growing government focus on food safety awareness and healthy lifestyle coupled with standardized dietary intakes for magnesium phosphate and other nutrients will propel the magnesium phosphate market growth. Rising product demand along with raw material insufficiency are among key factors influencing the price trend. Substitute advancements through material science development may hinder the product demand.
Strong outlook for mineral rich feed products to improve milk production, enhance immunity and prevent hymagnesaemia in ruminants will propel the magnesium phosphate market growth. Growing dietary and nutritional product demand especially in developed regions will have a positive outlook for business growth. The efficient product usage in preventing kidney stone has also fueled the product penetration. Technological development in agricultural and pharmaceutical industries will boost the global magnesium phosphate demand.
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Powered by a rather lucrative application prospect in agricultural and pharmaceutical domains, magnesium phosphate market has witnessed remarkable proceeds over the recent years. Testament of the fact is the billion-dollar valuation pegged by the market in 2017. A large credit of this goes to the technological advancements in medicinal sector that has significantly upscaled the product utilization as a DNA carrier in modern drugs. Moreover, extensive utilization of fused magnesium phosphate in fertilizers and water treatment applications has further boosted overall magnesium phosphate market demand. For the records, the typical nutrient content in fused magnesium phosphate fertilizers is almost 20%, that gives it a competitive edge over other synthetic fertilizers. With the growing necessity of maintaining an optimum phosphorous content in soil, magnesium phosphate industry stands to gain immensely from fertilizer applications over the ensuing years.
Rapid economic growth being witnessed across emerging countries such as India and China would favorably impact the revenue portfolio of magnesium phosphate market in the years ahead. The increasing demand of magnesium phosphate from several end-user segments along the likes of food and beverages, pharmaceutical, and healthcare would push the magnesium phosphate market trends. According to a comprehensive research study undertaken by Global Market Insights, Inc., the remuneration scale of magnesium industry is projected to surpass USD 1.5 billion by 2024.
Major Point From Table Of Content:
Chapter 3. Magnesium Phosphate Industry Insights
3.1. Industry segmentation
3.2. Magnesium phosphate market landscape, 2013 - 2024
3.3. Magnesium phosphate market ecosystem analysis
3.3.2. Profit margin analysis
3.3.3. Distribution channel analysis
220.127.116.11. Distributors and dealers
3.3.5. Vendor matrix
18.104.22.168. Key manufacturers
22.214.171.124. Product portfolio
126.96.36.199. Global presence
3.4. Technology landscape
3.4.1. Production process
3.5. Global phosphate rock industry overview
3.5.1. Global mined phosphate rock, by region
3.5.2. Global phosphate rock reserves, by region
3.6. Consumer buying behavior
3.6.1. Unmet needs
3.6.2. Information search
3.6.3. Evaluation of alternatives
3.6.4. Purchase decision
3.6.5. Post purchase behaviour
3.7. Regulatory landscape
3.8. Pricing analysis, by region
3.8.1. North America
3.8.3. Asia Pacific
3.8.4. Latin America
3.8.6. Cost structure analysis, 2017
3.9. Industry impact forces
3.9.1. Growth drivers, by region
188.8.131.52. North America
184.108.40.206. Asia Pacific
220.127.116.11. Latin America
3.9.2. Industry pitfalls & challenges
3.10. Innovation & sustainability
3.11. Growth potential analysis, 2017
3.12. Competitive landscape, 2017
3.12.1. Top players overview
3.12.2. Market share analysis, 2017
3.12.3. Key stake holders
3.12.4. Strategy dashboard
3.13. Porter’s analysis
3.14. PESTLE analysis
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