The North America Magnesium Phosphate Market would witness market growth of 3.5% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 16,706.05 tonnes, showcasing a growth of 12.1% (2020-2023).
Dimagnesium phosphate is a crucial component within the magnesium phosphate market, finding extensive application across various industries. In the food and beverage sector, it serves as a food additive, primarily employed as a buffering agent and nutrient supplement. Its ability to regulate acidity and provide essential magnesium and phosphorus makes it a valuable ingredient in food products such as baked goods, dairy products, and beverages. Thus, US market utilized 7,421.94 tonnes of Dimagnesium phosphate in the year 2023.
The US market dominated the North America Magnesium Phosphate Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $307.1 Million by 2031. The Mexico market is experiencing a CAGR of 3.9% during (2024 - 2031). Additionally, The Canada market would witness a CAGR of 3.8% during (2024 - 2031).
The applications of magnesium phosphate compounds are diverse and encompass various industries, each benefiting from the unique properties and characteristics of these materials. For example, magnesium phosphate compounds are extensively used as fertilizers in agriculture to enhance soil fertility and improve crop yield. These fertilizers provide essential nutrients such as phosphorus and magnesium, crucial for plant growth and development. Magnesium phosphate fertilizers are particularly beneficial for crops with high phosphorus requirements, including cereals, legumes, fruits, and vegetables. By supplying nutrients in an accessible form, magnesium phosphate fertilizers help optimize nutrient uptake by plants, leading to healthier growth, increased productivity, and improved crop quality.
Furthermore, in the healthcare sector, magnesium phosphate compounds find applications in pharmaceuticals, dietary supplements, and medical devices. Magnesium, an essential mineral, plays a vital role in numerous physiological processes, including muscle contraction, nerve transmission, and bone metabolism. Magnesium phosphate-based supplements and medications are prescribed to individuals with magnesium deficiencies, osteoporosis, cardiovascular diseases, and other health conditions. Moreover, magnesium phosphate compounds are utilized in orthopedic and dental applications for their bone-regenerative properties, contributing to advancements in bone graft materials, dental implants, and tissue engineering.
As the food processing industry in Mexico expands, there is a corresponding increase in demand for food additives, including phosphorus-based compounds such as magnesium phosphates. These additives serve various functions in food processing, including pH regulation, buffering, leavening, emulsification, and mineral fortification. Magnesium phosphate compounds are commonly used in processed foods, baked goods, dairy products, beverages, and dietary supplements, driving demand for phosphorus-based ingredients in the Mexican food industry.
The food processing industry in Mexico experienced robust growth, averaging a yearly rate of 4.3 percent. In 2020, its projected contribution to Mexico's GDP amounted to $39.4 billion, making it one of the most dynamic sectors in the country according to the United States Department of Agriculture. Therefore, the expansion of the food and beverage industry and rising fertilizer production in the region are driving the market’s growth.
Free Valuable Insights: The Magnesium Phosphate Market is Predict to reach USD 2 Billion by 2031, at a CAGR of 4%
Based on Form, the market is segmented into Dimagnesium Phosphate, Monomagnesium Phosphate, and Trimagnesium Phosphate. Based on Application, the market is segmented into Fertilizer, Animal Feed, Detergent, Food, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Form (Volume, Tonnes, USD Billion, 2020-2031)
By Application (Volume, Tonnes, USD Billion, 2020-2031)
By Country (Volume, Tonnes, USD Billion, 2020-2031)
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