Magnesium Sulfate Market Size was valued at USD 1.1 billion in 2022. The Magnesium Sulfate industry is projected to grow from USD 1.1605 Billion in 2023 to USD 1.781 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.50% during the forecast period (2024 - 2032). Increased food demand globally due to the growing population and the need to increase the yield likely to drive the demand are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The population is rapidly increasing, leading to an increased demand for agricultural production. However, continuous agricultural land use has decreased soil nutrient content, affecting crop yield. As a result, the agriculture industry is witnessing an increased demand for magnesium compounds. Magnesium salt is added to the soil as a fertilizer to address magnesium deficiencies, particularly for cash crops and vegetables. Additionally, plant nurseries require magnesium-rich soil for the optimal growth of potted plants. The growth in population and disposable income in developing countries has also led to changes in dietary habits, thus acting as a market CAGR driver.
Additionally, the demand for magnesium compounds in the personal care industry is increasing rapidly, providing lucrative growth opportunities. Magnesium sulfate, in particular, is gaining popularity in the personal care industry, driving market growth. Personal care companies are incorporating magnesium compounds into their products to combine their self-care and healing properties, resulting in a surge in demand. Magnesium salt is widely used in bath salts for its ability to relieve muscle and joint pain, and Epsom salt is known to offer multiple benefits for hair improvement. These benefits have helped personal care and cosmetics companies rebrand their products and boost sales, driving the market's growth. Thus, driving the Magnesium Sulfate market revenue.
The Magnesium Sulfate market segmentation, based on the Form, includes crystal, powder, and granules. The demand for crystals in various industries such as agrochemicals, medical, textile, and food and beverage has led to their domination in the market.
Figure1: Magnesium Sulfate Market, by Form, 2022&2032(USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on type, the Magnesium Sulfate market segmentation includes heptahydrate (Epsom Salt), anhydrous monohydrate, and others. The heptahydrate (Epsom Salt) segment dominated the market; the growth can be attributed to its high use in agriculture, as it enhances soil's nitrogen and phosphorous intake to cultivate potatoes, pepper, and tomatoes.
Based on Application, the Magnesium Sulfate market segmentation includes fertilizers, medical, food additives, industrial, chemical, and others. The fertilizer segment dominated the market; the increasing population across the globe resulted in high demand for food. The limited availability of cultivable land supports the demand for fertilizers and decreased agricultural production.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American magnesium sulfate market will dominate this market, Â due to the increased spending power of consumers and their growing awareness of the importance of self-care and personal care. These factors drive the demand for products, which is expected to further propel the market growth.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: MAGNESIUM SULFATE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Magnesium Sulfate market accounts for the second-largest market share the growing demand for the product is driven by various factors, including the expansion of the chemical industry, rising expenditure on personal care items, and advancements in agricultural technology. Further, the German Magnesium Sulfate market held the largest market share, and the UK Magnesium Sulfate market was the fastest-growing market in the European Region.
The Asia-Pacific Magnesium Sulfate Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to their extensive industrialization and urbanization activities. Moreover, China’s Magnesium Sulfate market held the largest market share, and the Indian Magnesium Sulfate market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Magnesium Sulfate market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The magnesium sulfate industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Magnesium Sulfate industry to benefit clients and increase the market sector. In recent years, the Magnesium Sulfate industry has offered some of the most significant advantages to medicine. Major players in the Magnesium Sulfate market, including K+S Minerals and Agriculture GmbH (Germany), PQ Corporation (US), Nafine Chemical Industry Group Co. Ltd (India), UMAI CHEMICAL CO., Ltd (Japan), Giles Chemical (US), Morton Salt, Inc (US), Mani Agro Chem Pvt Ltd (India), Acuro Organics Limited (India), Balaji Industries (India), and Laizhou Guangcheng Chemical Co. Ltd. (China), and others, are attempting to increase market demand by investing in research and development operations.
Milla Pharmaceuticals, part of the Alter Pharma Group, specializes in the development, licensing/acquisition, and marketing of generic prescription drugs for the US market, particularly injectable and solution products for healthcare facilities. The company has received approval for its abbreviated new drug application (ANDA) from the US FDA for its generic version of Magnesium Sulfate in Water for Injection, available in 4 g/50 mL (80 mg/mL), 4 g/100 mL (40 mg/mL), and 2 g/50 mL (40 mg/mL) non-PVC, single-patient use containers. The injection is used to prevent and control seizures associated with preeclampsia and eclampsia, and it is included on the ASHP drug shortage list of essential medications. The approval and imminent release of Magnesium Sulfate Injection will help alleviate the supply challenges faced throughout the US .
December 2021:Â B. Braun Medical Inc., which specializes in infusion therapy and pain management, has introduced a range of ready-to-use injectable drug products containing magnesium sulfate. The company has chosen to manufacture these products in Irvine, California, to ensure a dependable supply of this important drug for preventing and controlling seizures linked to preeclampsia and eclampsia.
November 2021:
Milla Pharmaceuticals, a subsidiary of the Alter Pharma Group, has received approval for its Abbreviated New Drug Application (ANDA) from the US FDA for the Generic Version of Magnesium Sulfate in Water for Injection. The approval includes doses of 4 g/50 mL (80 mg/mL), 4 g/100 mL (40 mg/mL), and 2 g/50 mL (40 mg/mL) in Non-PVC, Single-Patient Use Containers. Magnesium Sulfate Injection is used to prevent and control seizures in preeclampsia and eclampsia. The drug is currently on the ASHP drug shortage list of essential medications. The approval and launch of the generic version is expected to alleviate supply issues across the US.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.1 billion |
| Market Size 2023 | USD 1.1605 billion |
| Market Size 2032 | USD 1.781003701 billion |
| Compound Annual Growth Rate (CAGR) | 5.50%(2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Form, Type,Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â K+S Minerals and Agriculture GmbH (Germany), PQ Corporation (US), Nafine Chemical Industry Group Co. Ltd (India), UMAI CHEMICAL CO., Ltd (Japan), Giles Chemical (US), Morton Salt, Inc (US), Mani Agro Chem Pvt Ltd (India) |
| Key Market Opportunities | The growth of the agricultural industry globally and the increasing need for attaining high agricultural yield are factors likely to boost demand. |
| Key Market Dynamics | With the rising food demand globally due to the growing population, the need to increase the yield is likely to drive the demand. |
Magnesium Sulphate Market Highlights:
Frequently Asked Questions (FAQ) :
The Magnesium Sulfate Market size was valued at USD 1.1 Billion in 2022.
The Magnesium Sulfate Market is projected to grow at a CAGR of 5.50% during the forecast period, 2024-2032.
North America had the largest share of the Magnesium Sulfate Market.
The key players in the market areK+S Minerals and Agriculture GmbH (Germany), PQ Corporation (US), Nafine Chemical Industry Group Co. Ltd (India), UMAI CHEMICAL CO., Ltd (Japan), Giles Chemical (US), Morton Salt, Inc (US), Mani Agro Chem Pvt Ltd (India).
The Crystal Magnesium Sulfate category dominated the Magnesium Sulfate Market in 2022.
The Fertilizer had the largest share in the Magnesium Sulfate Market.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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