Demand for Magnesium Stearate Set To Skyrocket in Asia-Pacific in Future

With the expansion of the pharmaceutical sector in the developing countries of Asia-Pacific (APAC) such as India, Indonesia, and China, the demand for magnesium stearate is rising sharply across the world. The compound is extensively used as an inactive ingredient in pharmaceutical drug production for preventing the sticking of the ingredients to the production equipment. It can serve as a low-cost release agent and is, thus, preferred by drug producers across the world.



Besides the aforementioned factor, the mushrooming usage of the compound in the personal care industry, in the U.S., France, Germany, South Korea, and India, is also fueling its sales. Magnesium stearate can serve as an excellent lubricant and texturizer in cosmetics. Additionally, the compound is extensively used as a thickening agent in haircare products and creams such as conditioners, hair masks, and shampoos. Thus, the booming sales of these products is fueling the worldwide demand for the compound.

This is, in turn, driving the growth of the magnesium stearate market. As a result, the market revenue is expected to grow from $1,492.3 million in 2019 to $2,637.6 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 5.3% between 2020 and 2030. Depending on industry, the market is classified into food & beverages, pharmaceuticals, and personal care categories. Out of these, the pharmaceuticals category dominated the market in 2019.

Powdered magnesium stearate is heavily used in various applications, including as an anti-caking agent in several cosmetic products and as a release agent during drug production. The booming sales of these end-products are propelling the demand for the powdered form of the compound all over the world. Geographically, the magnesium stearate market will demonstrate the fastest growth in Asia-Pacific (APAC) in the forthcoming years, as per the forecast of the market research company, P&S Intelligence.

Therefore, it is quite clear that the demand for magnesium stearate will surge in the coming years, primarily because of its soaring usage in pharmaceutical and personal care products and the booming sales of these products across the world.

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