U.S. Magnesium Stearate Market Expected To Witness A Substantial Growth Of USD 288.31 Million By 2030
Posted by Neha Bora on September 23rd, 2022
San Francisco, 23 Sep 2022: The Report U.S. Magnesium Stearate Market Size, Share & Trends Analysis Report By Application, By Form (Pharmaceutical, Nutraceutical), And Segment Forecasts, 2022 - 2030
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.
Access Research Report of U.S. Magnesium Stearate Market @ https://www.grandviewresearch.com/industry-analysis/us-magnesium-stearate-market-report
U.S. Magnesium Stearate Market Report Highlights
List of Key Players of the U.S. Magnesium Stearate Market
Access Press Release of U.S. Magnesium Stearate Market @ https://www.grandviewresearch.com/press-release/us-magnesium-stearate-market-analysis
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About the AuthorNeha Bora
Joined: September 16th, 2019
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