Market Trends of Magnesium Stearate Industry
This section covers the major market trends shaping the Magnesium Stearate Market according to our research experts:
Growing Usage in Pharmaceutical Industry
- Magnesium stearate is an inactive ingredient which has significant usage in the pharmaceutical industry as a diluent for the manufacture of tablet, capsule, and powder dosage forms. Owing to its lubricating properties, it is used during the production of medicative capsules and tablets. It prevents the individual ingredients in a capsule from sticking to each other and the machine that creates the capsules.
- It further helps to improve the consistency and quality control of medication capsules. Though it is possible to create medication capsules without magnesium stearate, consistency and quality of those capsules cannot be guaranteed to be of a superior product and hence it is preferable to use magnesium stearate in tablets and capsules.
- Moreover, its usage helps to delay the breakdown and absorption of medications, so they're absorbed in the correct area of the bowel. Overall, the growing market for medical drugs is significantly expected to drive the market for magnesium stearate in the pharmaceutical industry.
- In Europe, the production of medicines is expected to increase owing to increasing ailing population and growing research & development activities in this sector.
- In Asia-Pacific region, China and India are some of the leading producers of pharmaceuticals. India is the largest provider of generic drugs globally. China is the world's second-largest market for pharmaceuticals and is the fastest emerging market for the sector. Chinese pharmaceutical industry, which is valued at about USD 145 billion in the year 2019, represents the biggest emerging market with growth tipped to reach about USD 200 billion by 2022, thus increasing the scope of consumption of magnesium stearate in different drug manufacturing applications.
- The pharmaceutical industry of the United States is the largest market in the world. The United States accounts for more than 48% of the global pharmaceutical industry. Most of the top pharmaceutical companies around the world are from the United States. Despite major economic challenges, such as multiple manufacturing companies in the industry, political uncertainty, etc. The pharmaceutical industry is poised for growth in the forecast period.
- Overall, the market for magnesium stearate in the pharmaceutical industry is expected to rise at a stable rate through the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
India to witness rapid growth in the Asia-Pacific region
- India is the largest provider of generic drugs globally, supplying over 40% of generic demand in the United States, and 25% of all medicine in the United Kingdom. According to India Brand Equity Foundation, by 2025, the Indian pharmaceutical sector is expected to be worth USD 100 billion, while the medical device market will be worth USD 25 billion. Moreover, in FY20, India's pharmaceutical exports totaled USD 16.3 billion.
- Furthermore, according to data released by the Department of Industrial Policy and Promotion (DIPP), the drugs and pharmaceuticals sector attracted cumulative FDI inflows worth USD 15.98 billion between April 2000 and March 2019. This is expected to offer enormous opportunities to the pharmaceutical sector in the country.
- The food processing industry is one of the largest industries in India. This industry ranks among the top 5 in terms of production, consumption, and exports. Demand for processed food is rising, with growing disposable income, urbanization, young population, and nuclear families. Thus, the growth of the industry is likely to increase the demand for magnesium stearate in this sector. The food and beverage industry in the country generated a revenue of around USD 3.85 billion in 2019 and is one of the fastest growing industries in the country. The major food industries in the country include Nestle, PepsiCo, Coca-Cola, Cadbury, Uniliver, Kissan, Britania, LT Foods Ltd, Aprle, MTR, Kohinoor Foods Ltd, Parle Agro, Amul, and many others. The growing investments in food processing and mega food parks are expected to drive the market for the food and beverage industry in the country.
- India has one of the largest plastics industry in the region. During April 2019 to January 2020, plastic export from the country stood at USD 7.045 billion mainly dominated by the plastic raw material with USD 2.91 billion, plastic sheets, films, & plates worth of USD 1.22 billion and packaging materials worth USD 722.47 million. The export during April 2020 to October 2020 period is around USD 5.58 billion. The growing demand for plastics from various industries is driving the market demand.
- India has one of the largest paints and coatings industries in the world. The Indian paints and coatings industry is valued at around INR 500,000 million in 2019-20 and is expected to reach INR 700,000 million by 2021-22. The paints and coatings market in the country has been registering continuous growth over the past few years except for a dull period in FY2018-19 mainly due to GST reduction which was impacted by supply chain disturbances in the distribution channel.
- All the above mentioned factors contribute to the growing market for magnesium stearate in India and owing to the factors, Asia-Pacific region is expected to dominate the market during the forecast period with India as a key developing region.
Get Analysis on Important Geographic Markets
Download Sample
