Sodium lactate find 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 sodium lactate will increase by 8.8% between 2021 and 2031.
Focus on reducing the cost of production to offset the high feedstock cost and gain 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.
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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 opportunities for growth.
The global sodium lactate market is estimated to be US$ 158.7 Mn in 2021, registering high growth through the forecast period (2021-2031)
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.
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Key Points Covered in Sodium Lactate Market Study
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growt
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Sodium Lactate Market and How to Navigate
- Recommendation on Key Winning Strategies
Some of the leading companies of this market include:
- Jungbunzlauer Suisse AG
- Biosynth Carbosynth
- Corbion N.V.
- Prathista Industries Limited
- Paul Lohmann GmbH KG
- Merck KGaA
- Advance Inorganics
- Hexon Laboratories Private Limited
- Galactic S.A.
- abcr GmbH
- Food & Nutritional Supplements
- Clinical Nutrition
- Dialyses Solutions
- Personal Care & Cosmetics
- Cleaners & Detergents
- Food & Beverages Industry
- Cosmetic Industry
- Pharmaceuticals Manufacturers
- Medical Devices Manufacturers
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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