Magnesium gluconate is an organic acid salt of magnesium and gluconic acid that is commonly used as a magnesium supplement. It helps in maintaining electrolyte balance in the body and plays an important role in more than 300 biochemical reactions. This makes it an essential mineral for proper functioning of the nervous system, cardiovascular system and muscle contractions.
Market key trends:
The growing awareness about the importance of maintaining proper nutrient levels in the body to prevent chronic diseases and deficiencies is the major factor driving the demand for magnesium gluconate supplements. Magnesium plays a vital role in reducing the severity of asthma, heart disease, diabetes and cognitive decline. Thus, consumers are increasingly opting for magnesium rich dietary supplements like magnesium gluconate to fulfill their daily requirement of magnesium. Furthermore, the rising demand for natural ingredient based supplements among health conscious individuals is also contributing to the growth of magnesium gluconate market. With increased spending on preventive healthcare, the magnesium gluconate market is expected to witness significant growth over the forecast period.
Segment Analysis
The global magnesium gluconate market can be segmented based on forms such as liquids and tablets and capsules. Among these, the tablets and capsules segment dominates the market and accounts for around 60% share of the global market. This is because tablets and capsules form is easy to consume and have more storage and transportation advantage over liquid form of magnesium gluconate. The liquid segment is expected to witness high growth during the forecast period due to increasing preference of consumers towards liquid supplements.
Key Takeaways
The Global Magnesium Gluconate Market Size is expected to witness high growth during the forecast period due to increasing consumer awareness regarding benefits of magnesium and magnesium deficiency disorders.
Regional analysis shows that North America region dominates the market currently accounting for around 35% share owing to increasing health supplements consumption in countries like United States. The Asia Pacific region is expected to be the fastest growing region during the forecast period witnessing a CAGR of around 17% due to rising middle class population and increasing lifestyle diseases in counties like China and India.
Key players operating in the magnesium gluconate market are Microsoft Corporation, Toshiba Corporation, AT&T, Inc., SAP SE, Cisco Systems, Inc., Philips Lighting, Ericsson, Huawei Technologies Co., Ltd., Panasonic Corporation, General Electric, Oracle Corporation, Hitachi Data Systems Corporation, and IBM. The players are focusing on new product launches and expansion strategies to gain more market share.
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