Global Epsom salt market is rising at a rapid pace, mainly due to the gradually increasing demand for Epsom salt over the past few years. Epsom salt is a mineral compound of magnesium sulphate composed of tiny and colourless crystals. Although Epsom salt is best known as a component of bath salts, it also has a wide range of applications in gardening agriculture process, healthcare pharmaceuticals, home remedies cosmetics, and others.
The Food and Drug Administration agency has mentioned Epsom salt as a health product. As a result, Epsom salt witnesses its massive consumption in the pharma industry as well, which fosters the growth of the market. According to Market Research Future (MRFR), the global Epsom Salt Market Size is anticipated to reach USD 6.3 Billion by 2030, registering a CAGR of 5.36% during 2022-2030.
Increasing usage of Epsom salt in cosmetic personal care products is a major driving force behind the growth of the market. Cosmetic personal care products are witnessing an impressive growth globally, which, in turn, is supporting the growth of the Epsom salt market. Also, the rising consumption of Epsom salt in the production of various home care products, such as cleaning agents and detergents, is anticipated to drive the market growth excellently.
Additionally, the spurting growth across the end-use industries such as agriculture and pharmaceutical sector fosters the growth of the Epsom salt market. Increasing production levels of fertilizers is another key growth driver for market growth. Besides, rising numbers of personal care and home care product manufacturers substantiate the growth of the global Epsom salt market.
Global Epsom Salt Market - Segments
The analysis has been segmented into three main dynamics to widen the scope of understanding,
By Form : Granules, Powder, and Crystal.
By Application : Food Beverages, Agriculture, Personal Care, Pharmaceuticals, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East Africa, and Rest-of-the-World.
Major Players:
Players leading the global Epsom salt market include Dadakarides Salt SA (Greece), Kneipp GmbH (Germany), Giles Chemical (US), STENDERS (Latvia), L'Occitane International SA (Switzerland), Shiseido Company Limited (Japan), Unilever PLC (UK), Kao Corporation (Japan), Bathclin Corporation (Japan), Parfums De Coeur, Ltd (US), CVS Pharmacy (US), San Francisco Salt Company (US), SaltWorks, Inc. (US), Baymag Inc. (Canada), and K+ S Kali Gmbh (Germany), among others.
Global Epsom Salt Market - Regional Analysis
The Asia Pacific region dominates the global Epsom salt market. The largest market shares majorly attributes to the high demand for Epsom salt from end-use industries such as home care, personal care, pharmaceutical, agriculture, and others. Also, the Increasing use of Epsom salt in spa salon boosts the market demand hugely. The economy in the region is developing rapidly, and investments in the fertilizer industry are growing too, which, as a result, drives a vast consumption of Epsom salt. The APAC Epsom salt market is expected to create a substantial revenue pocket, retaining its dominance throughout the assessment period.
North America is another lucrative market for Epsom salt, globally. Factors such as the growing number of health beauty conscious population and massive growth in the personal care industry are driving the growth of the regional market. Additionally, the increasing awareness among consumers about the medicinal benefits of Epsom salt fosters the market growth in the region. Besides, the strong presence of market players such as Saltworks, Inc., San Francisco Salt Company, and Baymag Inc., is fueling the regional market growth, offering varieties of Epsom salts. The North American Epsom salt market trends is expected to register the highest CAGR during the forecast period.
Global Epsom Salt Market - Competitive Analysis
Highly competitive, the Epsom salt market appears to be fragmented, with several well-established players forming a competitive landscape. To gain an edge over their rivals, market players incorporate strategic initiatives such as mergers acquisitions, collaboration, expansion, and product/ technology launch. Manufacturers try to grow their share through overall operating earnings.
Industry/Innovation/Related News:
November 12, 2019 ---- Cronos Group (Canada), an innovative cannabinoid company with international production and distribution across five continents, announced financial results and business highlights for the third quarter 2019 ending September 30, 2019. The company said that during these three months, it has successfully closed two acquisitions - U.S. Hemp-Based Products platform and Cronos Fermentation facility acquisitions and launched PEACE+™, A New Hemp-Derived U.S. Brand.
During demonstrating its progress in the third quarter, the company also mentioned that it is making great strides to advance the development diversity of its portfolio and to expand its manufacturing capabilities. Among the several products launched within the cosmetics and personal care category, include Lord Jones CBD Formula Bath Salts, small-batch bath salts made from magnesium-rich Epsom salts, pink Himalayan salt, to help support body relaxation.
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