Epsom Salt Market is Set to Reach US$ 7.7 Billion at a CAGR of 5.4% by 2033: Fact.MR Report
Europe's Epsom Salt Market Holds Second-Largest Share, fueled by Growing Interest in Information-Situated Procedures by Regional Militaries.
Rockville, July 31, 2023 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the *Epsom Salt Market* is estimated to reach a size of US$ 7.7 billion by the end of 2033, expanding at a CAGR of 5.4% over the next ten years.Epsom salt, originally discovered in the English town of 'Epsom', is manufactured worldwide. It is a polyatomic ionic substance, commonly known as bath salt. Epsom salt is derived from the combination of sulfuric acid and magnesium carbonate. When magnesium carbonate dissolves in sulfuric acid, it forms magnesium sulfate heptahydrate, also known as Epsom salt. This compound is composed of a magnesium sulfate molecule bonded to seven water molecules.
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Epsom salt finds versatile applications. When diluted with water, it can be ingested or used as a paste on the skin, and it acts as a laxative, relieving constipation while aiding in liver detoxification. Increased health awareness is expected to drive the demand for Epsom salt, which is utilized in the treatment of various ailments. With constipation being a common health issue, there is a growing need to find effective solutions for it. Epsom salt manufacturers are encouraged to promote their product as a laxative for occasional constipation.
New manufacturers in the market should focus on hydrous Epsom salt, as there is an anticipated rise in demand for pharmaceutical-grade hydrous Epsom salt, specifically for the manufacturing of drugs related to liver detoxification. Due to these factors, the Epsom salt market is expected to exhibit growth throughout the forecast period.
*Key Takeaways from Market Study*
· The global Epsom salt market is valued at US$ 4.53 billion in 2023.
· Worldwide demand for Epsom salt is projected to rise at a CAGR of 5.4% over the forecast period (2023 to 2033).
· The market is expected to reach US$ 7.7 billion by the end of 2033.
· Demand for Epsom salt in Europe is predicted to increase at a CAGR of 4.4% over the projected period.
· Over the decade, sales of Epsom salt in China are predicted to advance at 7.5% CAGR.*“**The Epsom salt market is expected to grow **steadily **due to increasing demand for natural and holistic products. **E**xtensive** use of Epsom salt in **the **agriculture, personal care, food **&** beverage, and pharmaceutical **industries **is **contribut**ing** to its** increasing* *sales**,”* says a Fact.MR analyst.
*Market Competition *
Key players in the Epsom salt market face competition from other established companies and emerging players entering the market. The competitive landscape is dynamic, with ongoing advancements in gluten replacer technologies and shifting consumer preferences. To maintain their competitiveness, companies focus on product differentiation, efficient supply chain management, and responsive customer service.
Several significant companies compete on both a global and regional scale in the fairly fragmented global Epsom salt market. Key competitors are pursuing product development and cooperation agreements to broaden their product portfolios and establish a solid presence in the global market. With both existing players and possible new entries, the market is competitive. Market share, pricing, and profit margins may be impacted by fierce competition between producers and suppliers.
· B.Braun Medical Inc., which specializes in infusion therapies and the treatment of pain, launched a line of ready-to-use injectable medication products containing magnesium sulfate in December 2021. To assure a consistent supply of this critical medicine for preventing and managing seizures associated with preeclampsia and eclampsia, the business decided to produce these products in Irvine, California.*Key Companies Profiled*
· Dadakarides Salt SA
· SaltWorks, Inc.
· Giles Chemical
· Unilever PLC
· Kao Corporation
· CVS Pharmacy
· Baymag Inc.
· STANDERS
· Bataclan Corporation*Get Customization on this Report for Specific Research Solutions:*
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*More Valuable Insights* *on Offer*
Fact.MR, in its new offering, presents an unbiased analysis of the global Epsom salt market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on form (granules, powder, crystals), grade (FCC grade, pharmaceutical grade, technical grade), application (food & beverages, agriculture, personal care, pharmaceuticals), and distribution channel (store-based retailing, supermarkets, pharmaceutical & drug stores, specialty stores), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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