The Global Sodium Lactate Market report is structured with the meticulous efforts of innovative, enthusiastic, knowledgeable, and experienced team of analysts, researchers, industry experts, and forecasters. This market analysis report also offers an in-depth overview of product specification, technology, and product type and production analysis considering major factors such as revenue, cost, and gross margin. Two of these major tools of market analysis are SWOT analysis and Porter's Five Forces Analysis. The first class Global Sodium Lactate Market report is generated with a nice combination of advanced industry insights, practical solutions, talent solutions and the use of latest technology which gives an excellent user experience.
Data Bridge Market Research analyses that the sodium lactate market was valued at USD 169.79 million is expected to reach the value of USD 348.38 million by 2029, at a CAGR of 9.40% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Sodium Lactate Market Dynamics
Drivers
- Various uses in the food and beverage industry is augmenting market growth
Sodium lactate has numerous applications in the food and beverage industries. It is particularly useful in meat products to extend shelf life and preserve meat colour. As an emulsifier, flavour enhancer, and flavouring agent, sodium lactate is also used. It is also used in the beverage industry to improve the flavour of sour drinks. It's also used as a pH and acidity regulator.
- Growing adoption from the personal care industries
The sodium lactate market is being driven by rising global demand for cosmetics and personal care products. Factors such as an increase in online beauty spending, the expansion of social networks, consumers' increased interest in new and premium products, and the growth of the upper-middle-class population all contribute to the market's expansion.
Opportunities
Consumers all over the world are inclining towards organic personal care products, owing to an increase in demand for organic compounds. This is expected to fuel the market during the forecast period. In the cosmetic industry, lactate is used in supercritical fluid technology to extract antioxidants.
Some of the major players operating in the Global Sodium Lactate market are:
- Jungbunzlauer Suisse AG (Switzerland)
- Biosynth Carbosynth (Switzerland)
- Corbion N.V. (Netherlands)
- Prathista Industries Limited (India)
- Paul Lohmann GmbH KG (Germany)
- Merck KGaA (U.S.)
- Advance Inorganics (India)
- Hexon Laboratories Private Limited (India)
- Galactic S.A. (Belgium)
Global Sodium Lactate Market Scope
The sodium lactate market is segmented on the basis of form, end users and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form
- Liquid
- Powder
Application
- Acid Regulator
- PH regulator
- Bulking Agent
- Preservative
- Humectant
- Others
End users
- Personal Care
- Cosmetics
- Food and Beverages
- Pharmaceuticals
- Healthcare
Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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Recent Development
- In 2021, International Flavors and Fragrances (IFF) will introduce YO-MIX ViV, a lactic acid bacteria culture-based product that will be used in ambient yoghurt and other fermented drinks. The product is aimed at the Asia-Pacific region, with a particular emphasis on China.
- LG Chem, a world-leading diversified chemical company, and ADM, a global provider of nutrition and biosolutions, signed a memorandum of understanding (MoU) in 2021 to investigate US-based lactic acid production in order to meet the growing demand for a variety of plant-based products, including Lactic Acid and Polylactic Acid for Bioplastics and Other Plant-Based Solutions.
- Total Corbion PLA, a 50/50 joint venture between Total and Corbion, has begun the front-end engineering design stage for its new 100,000-tonne-per-year Poly Lactic Acid (PLA) factory in Grandpuits, France, which is scheduled to open in 2021. When it opens in 2024, it will be the first of its kind in Europe. Total Corbion PLA would become the global PLA market leader, well positioned to meet the ever-increasing demand for Luminy PLA resins.
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