Magnesium Glycinate
Description
The Magnesium Glycinate Market is experiencing a steady growth rate of 4.93% during the forecast period (2025-2033F). The demand for magnesium glycinate in the world market is on a continuous increase due to the increasing awareness of its health advantages, as well as the increasing intake in dietary supplements. Magnesium glycinate is a chelated form of magnesium, and it is very bioavailable, so it is a good substitute when one wants to enhance the amount of magnesium in their body without the digestive side effects that other magnesium compounds can cause. With the increasing trend toward the topic of health and wellness globally, the market of magnesium glycinate is growing at a rapid pace, and people seek natural remedies to enhance the functionality of their muscles, the well-being of their bones, and their overall well-being. This demand wave is also strongly linked to the increasing rate of magnesium deficiency, which has been seen to increase the demand for supplements in the developed and emerging markets. Moreover, the increased popularity of personalized nutrition and functional foods that can be adjusted to suit a particular health requirement contributes to the increased magnesium glycinate demand even more. The innovations in the product forms are being experienced in the market with magnesium glycinate presently available in different formats, including powders, capsules, and liquid supplements, and hence can be consumed by a broad segment of the population.
- Based on Formulation Type, the global magnesium glycinate market is segmented into Capsules, Tablets, and Powders. In 2024, the capsules segment is anticipated to hold the largest market share and continue to lead throughout the forecast period. This is mainly because they are convenient, easy to use, and a perfect dose of these makes them a favorite among consumers. The capsules also have better bioavailability, and magnesium glycinate is efficiently absorbed by the body, which also makes the capsules popular among dietary supplements. The tablet market is equally increasing at a steady pace, owing to its affordable nature and viability in terms of shelf life, thus a popular product for both the consumer and the producer. Moreover, the powders are becoming popular, and this is particularly among those who like having a personalized dosage or individuals who like combining their magnesium supplement with other beverages. Powder formulations are also flexible and versatile, which attracts consumers interested in customized supplements, particularly those who are health-conscious. The development of the segment is also facilitated by the innovations in the range of the offered products, where magnesium glycinate can be offered in other flavors and forms, to meet the needs of a wide range of consumers.
- Based on Magnesium Source, the global magnesium glycinate market is segmented into Natural Source and Synthetic Source. In 2024, the natural source segment is expected to dominate the market and continue to hold a significant share throughout the forecast period. This has grown due to the rising trend of consumers favoring natural and organic products, and also the high demand for magnesium, which is extracted through plant and mineral-based sources. Natural magnesium glycinate is viewed as a more sustainable and cleaner alternative, and it targets the health-conscious customers who will consider the ingredients as environmentally friendly and organic. Conversely, the synthetic source segment is also expanding, especially since it is economical and more predictable in production. Large-scale production of synthetic magnesium glycinate is mostly reliable and cheap. The natural source segment is, however, likely to continue its leadership because of the current trend of clean-label products and the growing importance of natural health solutions.
- Based on Application, the global magnesium glycinate market is segmented into Dietary Supplements, Foods & Beverages, Pharmaceuticals, and Cosmetic & Personal Care. In 2024, the dietary supplements segment is expected to dominate the market and maintain its leadership throughout the forecast period. This can be attributed to the increase in consumer awareness of the health value of magnesium glycinate, especially its ability to induce good sleep, muscle activity, and good health. The dietary supplement health and fitness market is experiencing rapid growth, courtesy of the increasing self-care and preventive health care. It is important to note that magnesium glycinate is a preferred choice as a magnesium supplement due to its high bioavailability and relative lack of side effects compared to other types of magnesium on the gastrointestinal tract. Moreover, the emergence of customized nutrition and increasingly popular plant-based diets also contributes to the increased demand for magnesium supplements. Another major contributor is technological improvements in the manufacturing process that facilitated the production of a better quality of magnesium glycinate products that are currently being offered in different forms, including capsules, pills, and powders.
- Based on Distribution Channel, the global magnesium glycinate market is segmented into Pharmacy/Retail Stores and Online Platforms. In 2024, the pharmacy/retail stores segment is expected to maintain a dominant position in the market. This can be attributed to the fact that retail chains and pharmacies are already there, and they will present the consumers with access to magnesium glycinate products on demand. Numerous buyers would still want to shop in person, assess products in person, and discuss their health requirements with pharmacists. Nonetheless, the online platforms segment is booming fast, owing to the rising behavior of online shopping and e-commerce. Now, consumers can compare prices and reviews and buy magnesium glycinate products from the comfort of their homes, a feature especially attractive to technologically advanced, time-conscious people. The sales of online products have also expanded because of the availability of a variety of products, as well as specialized formulations and bulk. With the current trend of digital health technologies, growth in the online platforms section would continue, and the disparity between the traditional retail and online distribution methods would be less pronounced.
- For a better understanding of the market of the magnesium glycinate market, the market is analyzed based on its worldwide presence in countries such as North America (The US, Canada, and Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is expected to dominate the global magnesium glycinate market in 2024 and is anticipated to maintain its leadership throughout the forecast period. The main drivers of this dominance are increasing consumer awareness of health and wellness, as well as the high demand for dietary supplements in the region. The availability of well-established pharmaceutical and supplement companies, coupled with the growing health trend in the US and Canada, makes North America the most powerful market. The trend in North America is toward more personalized health and wellness solutions, as consumers increasingly turn to supplements tailored to their own needs. With the constantly rising popularity of personalized nutrition, it is logical to expect that more consumers in North America will consider magnesium glycinate as an addition to their personalized nutrition regimen. With the convenience of online shopping and access to a wide range of magnesium glycinate products, some with novel formulations, the trend in the market is towards consumers in North America buying supplements online. This trend is further strengthened by the emergence of health-conscious online communities and the ease of product comparison, which has helped give the market the required push in the region.
- Some of the major players operating in the market include Novotech Nutrition, Shijiazhuang Donghua Jinlong Chemical Co., Ltd., Thorne (L Catterton), Life Extension, Jarrow Formulas, Inc. (New Mountain Capital), Solgar Inc. (Nestle), Natural Factors USA, BASF, Chaitanya Agro Biotech Pvt. Ltd., and KAL Vitamins.
Table of Contents
145 Pages
- 1 Market Introduction
- 1.1. Market Definitions
- 1.2. Main Objective
- 1.3. Stakeholders
- 1.4. Limitation
- 2 Research Methodology Or Assumption
- 2.1. Research Process of the Magnesium Glycinate Market
- 2.2. Research Methodology of the Magnesium Glycinate Market
- 2.3. Respondent Profile
- 3 Executive Summary
- 3.1. Industry Synopsis
- 3.2. Segmental Outlook
- 3.2.1. Market Growth Intensity
- 3.3. Regional Outlook
- 4 Market Dynamics
- 4.1. Drivers
- 4.2. Opportunity
- 4.3. Restraints
- 4.4. Trends
- 4.5. PESTEL Analysis
- 4.6. Demand Side Analysis
- 4.7. Supply Side Analysis
- 4.7.1. Merger & Acquisition
- 4.7.2. Investment Scenario
- 4.7.3. Industry Insights: Leading Startups and Their Unique Strategies
- 5 Pricing Analysis
- 5.1. Regional Pricing Analysis
- 5.2. Price Influencing Factors
- 6 Global Magnesium Glycinate Market Revenue (USD Mn), 2023-2033F
- 7 Market Insights By Formulation Type
- 7.1. Capsules
- 7.2. Tablets
- 7.3. Powders
- 8 Market Insights By Magnesium Source
- 8.1. Natural Source
- 8.2. Synthetic Source
- 9 Market Insights By Application
- 9.1. Dietary Supplements
- 9.2. Food & Beverage
- 9.3. Pharmaceuticals
- 9.4. Cosmetics & Personal Care
- 10 Market Insights By Distribution Channel
- 10.1. Pharmacy/Retail Stores
- 10.2. Online Platforms
- 11 Market Insights By Region
- 11.1. North America
- 11.1.1. The US
- 11.1.2. Canada
- 11.1.3. Rest of North America
- 11.2. Europe
- 11.2.1. Germany
- 11.2.2. The UK
- 11.2.3. France
- 11.2.4. Italy
- 11.2.5. Spain
- 11.2.6. Rest of Europe
- 11.3. Asia-Pacific
- 11.3.1. China
- 11.3.2. Japan
- 11.3.3. India
- 11.3.4. Rest of Asia-Pacific
- 11.4. Rest of World
- 12 Value Chain Analysis
- 12.1. Marginal Analysis
- 12.2. List of Market Participants
- 13 Competitive Landscape
- 13.1 Competition Dashboard
- 13.2. Competitor Market Positioning Analysis
- 13.3. Porter Five Forces Analysis
- 14 Company Profiles
- 14.1. Novotech Nutrition
- 14.1.1. Company Overview
- 14.1.2. Key Financials
- 14.1.3. SWOT Analysis
- 14.1.4. Product Portfolio
- 14.1.5. Recent Developments
- 14.2. Shijiazhuang Donghua Jinlong Chemical Co., Ltd.
- 14.3. Thorne (L Catterton)
- 14.4. Life Extension
- 14.5. Jarrow Formulas, Inc. (New Mountain Capital)
- 14.6. Solgar Inc. (Nestle)
- 14.7. Natural Factors USA
- 14.8. BASF
- 14.11. Chaitanya Agro Biotech Pvt. Ltd.
- 14.11. KAL Vitamins
- 15 Acronyms & Assumption
- 16 Annexure
Pricing
Currency Rates
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