Latin America Epsom Salt Market was worth USD 0.44 billion in 2022 and estimated to be growing at a CAGR of 3.86 % to reach USD 0.53 billion by 2028.
Epsom salt is a mineral compound containing magnesium and sulfate with a chemical name as Magnesium sulfate (MgSO4). In market, Epsom salt are widely used as bath salts which are used in various applications like agriculture, gardening, healthcare, cosmetics and others. Epsom salt is considered as organic fertilizer because it is applied to soil and plants as a foliar spray. It is used in agriculture and soilless culture for promoting of healthy plants, to offer plant nutrient and decrease magnesium deficiency in soil.
Epsom salt is also considered as healing minerals because magnesium helps in regulating enzyme activity, monitoring body functions ranging from muscle control to energy production and removal of harmful toxins. Sulfate plays a significant role in many biological processes such as formation of proteins in joints, detoxifying drugs & environmental contaminants, formation of brain tissue, and helps in cascading the digestive enzymes released from the pancreas.
Epsom salt is used as fertilizer and healing minerals with diverse applications in agriculture, personal care & home care products, livestock, food processing, medicine, chemistry, marine and others which attributes the growth of the Latin America Epsom salt market. It is a cost-effective measure to eradicate acute and chronic health problems. Other factors like growing awareness, innovations in agriculture sectors and technological advancements for its production are also driving the market. However, factors like lack of knowledge in rural areas, strict rules for the product approval and ethical issues are hindering the growth of the market.
The Epsom salt market has been segmented on the basis of form, distribution channel and application. On the basis of form, the market is segmented into granules, powder, crystal and bath bombs. Crystal segment is expected to have largest share and the bath bombs is projected to have fastest growth throughout the forecast period. On the basis of application, Epsom salt market is segmented into agriculture, food additives & pharmaceutical, personal care & home care, Chemicals & industrial and others. Personal care & home care segment is projected to account maximum market proportion during the forecast period. On basis of distribution channel, Epsom salt market is segmented into store based, non-store based. Store based segment also can be sub segmented into drug stores & specialty pharmacies, health & wellness centre, supermarkets & hypermarkets, convenience stores and others. Non- Store based distribution channel is gaining momentum in the forecast period.
Geographically the Latin America Epsom Salt Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. The huge rise in spending in the food division has increased the demand for Epsom salt. Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia, which are also intensifying their investments in this market.
Key Players in the Market:
Major Key Players in the Latin America Epsom Salt Market are
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