Sodium lactate finds extensive applications in the food & beverage industry, pharmaceutical and cosmetic, and personal care products owing to its superior properties and cost-effective nature. As per a new study by Future Market Insights (FMI), the demand for the sodium lactate market will increase by 8.8% between 2021 and 2031.
Focus on reducing the cost of production to offset the high feedstock cost and gain a competitive edge among leading players will bode well for the market. Moreover, manufacturers are expanding their manufacturing capabilities and increasing their exports to make deeper inroads in markets with unmet needs.
Increasing safety concerns have encouraged governments around the world to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products. These regulations have been created with the intent to keep an eye on chemical additives and contaminants in food supplies.
This is expected to create attractive growth opportunities. The global sodium lactate market is estimated to be US$ 158.7 Mn in 2021, registering high growth through the forecast period (2021-2031)
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Key Takeaways from Sodium Lactate Marker Study
- Liquid form by form type is expected to contribute more than 54% of revenue share to the market.
- By application, food & nutritional supplements held the highest market share in 2021 due to diversifying the application of sodium lactate in the food industry.
- North America holds a t share of over 38% in the global sodium lactate market.
- Germany is expected to remain the dominant market for sodium lactate in Europe, accounting for over one-fourth of sales through 2031.
- China will continue leading the East Asia market, exhibiting double-digit growth through the forecast period.
“Diverse applications of sodium lactate across diverse industries, from pharmaceutical to the food sector will drive the sodium lactate market,” says an FMI analyst.
Fast Expanding End-User Industries and Product Compliance
Food & beverage, cosmetic industry, and pharmaceuticals manufacturers are prominent end-user industries gaining momentum. The prompt expansion of the food & beverage and agricultural industry across the globe, it will fuel the demand for sodium lactate-based products.
Manufacturers may want to steadily exit or avoid entering the vulnerable solvents marketplace as the usage of VOC-based products is banned and prohibited in developed countries. Increasing safety concerns have encouraged several governments to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products.
These regulations have created the use of chemical additives and contaminants in food supplies on the check. Also, within the pharmaceutical industry, regulations and quality assurance play an important role. These factors will continue creating scope for sodium lactate applications.
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Competitive Landscape
Manufacturers are focusing on the development of intermediates. Moreover, they are focusing on expanding their regional presence through acquisition and expansion.
Some of the leading companies in this market include:
- Jungbunzlauer Suisse AG
- Biosynth Carbosynth
- Corbion N.V.
- Prathista Industries Limited
- Dr. Paul Lohmann GmbH KG
- Merck KGaA
- Advance Inorganics
- Hexon Laboratories Private Limited
- Galactic S.A.
- abcr GmbH
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Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global sodium lactate market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
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Sodium Lactate Market by Category
The study provides compelling insights into the sodium lactate market on the basis of Product Form in detail covering every aspect of the market such as
Product Form:
- Powder
- Liquid
Application:
- Beverages
- Food & Nutritional Supplements
- Clinical Nutrition
- Dialyses Solutions
- Personal Care & Cosmetics
- Cleaners & Detergents
End-User:
- Food & Beverages Industry
- Cosmetic Industry
- Pharmaceuticals Manufacturers
- Medical Devices Manufacturers
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What Are Key Opportunities For The Market To Growth In the Future?
In developed economies, customers are progressively transitioning to products that conform to stricter requirements for safety. This will create opportunities for research and development activities and product innovation to launch lactates-based products.
The development of custom formulations and products as per end-user requirements is expected to gain impetus across the world. Some of the leading companies are therefore focusing on product launches.
A majority of manufacturers in the MEA region are based out of South Africa, Turkey, and GCC. They are primarily focusing on manufacturing international quality products to garner significant attention from end-users in the region. Sodium lactate also is used in food products that need to be Kosher & Halal certified.
Expansion in APAC and a ban on VOC-based solvents in Europe and North America will create growth opportunities for sodium lactate manufacturers.
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