The U.S
Magnesium Stearate Market size is estimated to reach USD 288.31
million by 2030 according to a new report by Grand View Research, Inc. The
market is projected to register a CAGR of 4.0% from 2022 to 2030. Growth can be
attributed to the increasing demand for the product as a lubricant in
pharmaceutical tableting. Also, the rising preference for convenience food and
hectic work & life schedules across the country are driving the demand for
packaged food. This is predicted to fuel the growth food & beverage
industry thereby leading to increased demand for magnesium stearate in the near
future.
Magnesium
stearate plays a vital role as a lubricant in the manufacturing of
pharmaceuticals and nutraceuticals in solid dosage forms. It is a widely used
water-insoluble lubricant to reduce friction between manufacturing equipment
and organic solids in various pharmaceutical manufacturing processes namely
roller compaction, blending, capsule filling, and tablet manufacturing.
The
masses in the U.S. are opting for dietary supplements based on the
recommendations from health professionals. As the part of the population in the
U.S. that is considered baby boomers has aged, manufacturers of dietary
supplements are shifting their focus toward offering products to other age
groups.
Increasing
demand for magnesium stearate from the pharmaceutical sector to manufacture
tablets has led to increased competition in the market. To sustain in the
competitive environment, manufacturers are engaged in adopting several
strategic initiatives including introducing new products and broadening
geographical reach.
Related Press
Release@ U.S.
Magnesium Stearate Market Report
U.S. Magnesium Stearate Market Report Highlights
- In 2021,
pharmaceuticals emerged as the dominant application segment by
contributing around 40% of revenue share. This is attributed to the
increasing demand for solid dosage forms including capsules and tablets
- The
nutraceuticals application segment is anticipated to grow at a CAGR of
3.8% in terms of revenue by 2030, owing to the growing demand for dietary
supplements due to the rising consumer inclination towards preventive
health care
- The powder
form of nutraceuticals was the dominating sub-segment accounting for a
revenue share of more than 70% in 2021 due to its high efficacy in
improving the flowability of blends and reducing interparticle friction
- The granular
form of pharmaceuticals is projected to grow at a CAGR of 4.0% over the
predicted years owing to its free-flowing properties
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based research
across a range of industries including technology, chemicals, materials,
healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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