Market Overview:
The Global Magnesium Sulphate Market is slated to be valued at USD 10,731.05 Mn during forecast period (2018-2027) with a moderate CAGR of 4.28%, according to a detailed report by Market Research Future (MRFR). Magnesium Sulphate is highly popular in various applications such as healthcare, agriculture, pharmaceuticals, food additives and other industries as well. The report also prophesizes that healthcare sector in India is projected to grow to approximately USD 285 Bn by 2020, suggesting an increase in demand for medicine. Another driver for Magnesium Sulphate Market is revolution in agriculture. Advent of new technologies in field of farming gives way to more demand for magnesium sulphate. Research and development conducted by competitive companies in the market can pave the way for demand for magnesium sulphate, thus boosting market growth.
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Growing population and high demand for high-quality food, has resulted in increased pressure on farmers to enhance the quality of their agricultural products. Growing demand for food, coupled with increased application of magnesium sulfate for medicinal purposes are major drivers for the Magnesium Sulfate Market. Apart from this, even cosmetics market demands high-quality magnesium sulphate for use in various beauty products, for instance, in bath products, skin fresheners and cleansers, shampoos, hair products, suntan products, makeup and skin care products.
However, allergic reactions such as skin infection, diarrhea or upset stomach have the potential of hampering the growth of the market. On the other hand, magnesium sulphate is widely used in drugs for the treatment of seizers associated with eclampsia. Additionally, increasing awareness regarding the benefits associated with Magnesium Sulphate and continuous growth of pharmaceutical and healthcare sector across the globe can create growth opportunities for the market.
Market Segmentation:
The Magnesium Sulphate Market is segmented on the basis of Type, Product Type, Grade, Application, and Distribution Channel.
By Type, the market is segmented into heptahydrate (epsom salt), anhydrous (calcined kieserite), and monohydrate (kieserite). Monohydrate kieserite is used in cropping, horticulture, market gardening, and maize production. On the other hand, heptahydrate (epsom salt) is an eco-friendly and cost-effective element used as natural exfoliator and anti-inflammation remedy that can be used to treat dry skin, sore muscles, and small wounds, and even to fight maladies.
Based on Product Type, the market is segmented into powder, solid crystal, and liquid. The powder form of magnesium sulphate is used as laxative, consumed orally. It is considered as a cost-effective measure to mitigate the risk of acute and chronic health problems. Its demand is also mitigated by patients suffering from constipation, and other health issues.
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