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Magnesium Sulfate Market Forecast to Reach $1,233.3 Million by 2026 "Rising Chronic Disease Instances Coupled With Rapid Technological Advances by Key Players in the Nutraceuticals Sector are Some of the Main Factors That Propel the Magnesium Sulfate Market" Magnesium Sulfate Market BriefingWire.com, 5/07/2021 - Magnesium Sulfate Market is forecast to reach $1,233.3 million by 2026, after growing at a CAGR of 5.1% during 2021-2026. The growing need to achieve high agricultural yields coupled with the substantial growth of the worldwide agricultural industry is expected to be the main driver of demand growth in the years ahead. Furthermore, increasing use of magnesium sulfate in the personal care & cosmetics sector to formulate a range of important personal care items, including hair products, skincare products, sun-tan products and skin fresheners will create new opportunities for the growth of the global magnesium sulfate industry in the forecast era.
Magnesium Sulfate Market Segment Analysis – By Applications Fertilizers held the largest share in the magnesium sulfate market in 2020 and are projected to grow at a CAGR of 4.9% during the forecast period 2021-2026. Inorganic crop production, fertilizers composed of synthetic or non-synthetic materials containing synthetic magnesium sulfate can be used as a plant or soil modifications. Magnesium sulfate fertilizer is designed for fast correction or prevention of magnesium deficiencies in all types of crop and soil conditions. The fertilizer is best used before or during planting to avoid magnesium shortages, but it can also be used during the growing season to fix growth problems. Rapid development of magnesium sulfate in fertilizers will in turn propel the market growth over the forecast period.