The Calcium Citrate Malate Market is Estimated To Witness High Growth Owing To Rising Demand from Supplement Industry
The Calcium Citrate Malate Market is estimated to be valued at US$ 290 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Calcium citrate malate is a calcium containing salt that is widely used as a dietary supplement. It has superior calcium bioavailability when compared to other calcium salts. Calcium citrate malate is highly soluble in water and easy to absorb in the body. It plays a vital role in bone mineralization and prevents osteoporosis. Rising health consciousness among consumers is the primary factor boosting the demand for calcium citrate malate supplements.
Market key trends:
The global calcium citrate malate market is primarily driven by growing demand from the supplement industry. Calcium is an essential mineral for bone health. With increasing aging population and busy lifestyles, demand for calcium supplements is witnessing strong growth worldwide. According to data by Coherent Market Insights, calcium supplements market is valued at over US$ 5 Bn in 2023. Growing awareness about maintaining bone health is fueling the sales of calcium citrate malate supplements, which will continue to support market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirement and established distribution channels reduces barriers to entry in calcium citrate malate market.
Bargaining power of buyers: Large number of buyers in food and pharmaceutical industries gives them higher bargaining power over calcium citrate malate producers.
Bargaining power of suppliers: Established supplier network with switching costs makes raw material suppliers’ bargaining power stronger over calcium citrate malate manufacturers.
Threat of new substitutes: Alternative forms of calcium supplements pose threats to calcium citrate malate market.
Competitive rivalry: Intense competition among established players.
SWOT Analysis
Strength: Calcium citrate malate has greater bioavailability than other calcium salts making it suitable for supplements.
Weakness: High manufacturing and R&D costs for innovative grade and formulations. Fluctuating raw material prices impact profitability.
Opportunity: Growing health-conscious population and rise in chronic disease burden driving demand. Emerging applications in dietary supplements, functional foods and pharmaceuticals.
Threats: Stringent regulations. Availability of cheaper alternatives.
Key Takeaways
The global calcium citrate malate market is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing demand for dietary calcium supplements. North America dominates the global market currently owing to high health awareness and growing geriatric population susceptible to osteoporosis in the region.
Asia Pacific is expected to be the fastest growing regional market for calcium citrate malate over the next few years. This can be attributed to increasing incomes, westernization of diets, and growing health & wellness consciousness among consumers in countries like China, India and other Association of Southeast Asian Nations countries.
Key players operating in the calcium citrate malate market are Jungbunzlauer, Gadot Biochemical Industries, Sucroal, Dr. Paul Lohmann, Global Calcium, TATE & LYLE, American Elements, Triveni Chemicals, A.B. Enterprises, Nikunj Chemicals, Advait Industries, Anmol Chemicals, Krishna Chemicals, AMS biotechnology, Henan Honghui Biotechnology. The market is highly fragmented with many local and regional suppliers providing cost-effective products in different grades.
Read More:https://webinsightworld.blogspot.com/2023/11/the-calcium-citrate-malate-market-is.html
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