The sodium lactate market size is estimated to be valued at USD 165 million in 2023 and is expected to reach USD 390 million by 2033. The adoption of sodium lactate is likely to advance at a CAGR of 8.9% during the forecast period.
A promising driver is the increasing demand for clean label and natural food products. As consumers become more conscious of their dietary choices, sodium lactate serves as a natural and safe alternative to synthetic additives, offering food manufacturers an opportunity to meet the clean label demand. Its ability to improve shelf life, enhance flavor, and maintain product quality makes it an attractive choice for various food applications.
An eminent driver is the expanding use of sodium lactate in the pharmaceutical industry. With its antimicrobial and moisturizing properties, sodium lactate finds applications in wound care products, dermatological formulations, and intravenous solutions. This untapped opportunity opens avenues for pharmaceutical companies to explore the potential of sodium lactate in enhancing the efficacy and safety of medical products.
The personal care industry also presents unique opportunities for sodium lactate. With the rising demand for natural and sustainable personal care products, sodium lactate finds applications in skincare, haircare, and bath products. Its humectant properties help in improving moisturization, product stability, and texture, aligning with the growing consumer preference for clean and eco-friendly formulations.
The regional market expansion is also an important driver. As emerging economies develop their food and beverage, pharmaceutical, and personal care industries, the demand for sodium lactate is expected to rise. Understanding the specific needs and regulations of these regional markets will be crucial for businesses to capitalize on this untapped potential.
Attribute | Details |
---|---|
Estimated Market Size (2023) | USD 165 million |
Projected Market Size (2033) | USD 390 million |
CAGR through (2023 to 2033) | 8.9% |
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According to Future Market Insights (FMI), the sales of sodium lactate have grown at a 6% CAGR between 2018 and 2022. Increasing safety concerns have encouraged several governments to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products, which are promoting sales of sodium lactate ingredient.
Manufacturers are increasingly focusing on expanding distribution channels in emerging markets. Some them also are increasing the sales force and entering into strategic partnerships with local suppliers and distributors to expand their product distribution. Strategic expansion can help to introduce the company’s products into emerging economies. For instance, Latin America is dependent on imports for the supply of sodium lactate in the region.
Countries such as Thailand, India, China, Japan, the United Kingdom, and Brazil, hold immense potential for the sodium lactate market. Due to growth in the pharmaceutical and food industries, these countries are expected to be the potential markets for sodium lactate over forecast period. Future Market Insights has forecast the global market to grow at a CAGR of 8.9% over the forecast period. Growth registered by the market can be attributed to strategies adopted by the leading companies. These include their participation distribution partnerships to expand their product portfolio. For instance, in September 2019, Corbion and Brenntag leaders in chemical and ingredients distribution strengthens their long-term partnership in EMEA by signing an enhanced framework agreement.
Period | Market Size (in USD million) |
---|---|
2018 | USD 153 million |
2022 | USD 162 million |
2023 | USD 165 million |
2033 | USD 390 million |
Crafting the Future: Unleashing the Flavors and Beauty Potential - The Impact of Food & Beverage and Personal Care Industries on the Market
Sodium lactate finds extensive applications in the food & beverage industry. It is especially used in meat products to increase shelf life and maintain meat color. Sodium lactate is also used as an emulsifier, a flavor enhancer, and a flavoring agent. Furthermore, it finds application in the beverage industry to enhance flavor in sour drinks. It is also used as a pH regulator and acidity regulator.
The growing demand for cosmetic products across the globe is creating opportunities for sodium lactate sales. It is used as a primary ingredient for the formulation of cleansing products, moisturizers and numerous other skincare and healthcare products. Higher inclination towards skin care has been therefore helping the overall expansion of the market.
Expansion of the male grooming sector also will impel growth. Some of the leading personal care product companies have already launched dedicated brands for male grooming products which includes formulations made from sodium lactate.
In the beauty and personal care industry, skincare, hair care and cosmetics account for nearly 62% on a global level. For instance, The UAE ranks seventh in the world with a per capita expense of USD 239 on beauty products. In Europe, the average EU27 per capita cosmetics spending is USD 135 per year.
Unveiling the Path Ahead: Unlocking the Untapped Potential and Future Growth Opportunities for the Market
In developed economies, customers are progressively transitioning to products that confirm to stricter requirements for safety. This will create opportunities for research and development activities and product innovation to launch lactates-based products. Development of custom formulation 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 ban on VOC-based solvent in Europe and North America will create growth opportunities for sodium lactates manufacturers.
Unveiling the Barriers: Unlocking the Secrets behind Diminished Demand for Market Products
High dependency on imports is a major factor restraining the market. Developing economies such as Vietnam, Indonesia, Brazil, Argentina, Mexico and Columbia are heavily dependent on the import trade. The demand for sodium lactate is driven by heavy imports from outside the region.
Despite high production capacity of chemical commodities of some of the leading manufacturers in countries such as the USA, India Argentina, Brazil and Mexico, there is still a heavy gap between the overall demand and production. Therefore, to fill gap, countries are heavily dependent on imports. Any imbalance in the imports can hamper the sodium lactate market over the forecast period.
Unleashing the Potential: The United States - A Goldmine of Lucrative Opportunities
The United States holds over 91% share in North America. The dominance of the United States can be attributed to the presence of well-established pharma, food & beverage, and personal care industries. Focus on technological advancements is creating opportunities for manufacturers to deliver novel consumer products.
There has been increase in the consumption of sodium lactate products in the United States pharmaceutical Industry. The United States offers reduction of the corporate tax rate, which has encouraged various large chemical manufacturing companies to invest prominently in production facilities.
Germany's Revenue Revolution: Unveiling the Driving Forces behind Profit Generation
In 2023, the Germany market is estimated to account for over 29% in Europe. Sodium lactate consumption in Germany is expected to grow at an accelerated pace.
Some of the prominent players such as Caesar & Loretz GmbH, abcr GmbH, Merck KGaA, Dr Paul Lohmann Gmbh KG are present in Germany which will aid the overall expansion of the market.
The Rising Sun of Opportunities: Unveiling the Key Factors Fueling Japan's Growth
The Japan market will exhibit a 6.6% CAGR through the forecast period. Japan continues to be a leading pharmaceutical market in the world, regardless of the challenging business landscape due to demographics.
With new regulations & drug approvals, manufacturers in Japan are encouraged to innovate novel drug formulations based on a solution made up of sodium lactate. The government of Japan has forecast that the pharmaceutical industry will grow by 3-5%, which will fuel the sodium lactate demand in the country.
Fostering Growth: Unveiling India's Government Policies Igniting Market Expansion
The India market for sodium lactate is estimated to account for more than 59% of the sales registered in the South Asia in 2023. Increasing pharmaceutical spending and government initiatives undertaken to increase pharma and food industrialization will create attractive growth opportunities.
In India, the government unveiled the Pharma Vision 2020, which emphasized making India a global leader in the pharmaceutical industry. This initiative was aimed to help the Indian pharmaceutical market to grow with a CAGR of 11% in the year.The Indian Government is supporting pharmaceutical and taking the initiative to increase foreign investment in R&D. The production of sodium lactate continues to grow with an increasing number of domestic companies in India to meet their sodium lactate supply needs.
Unlocking the Dragon's Potential: Exploring the Limitless Growth Opportunities in the Chinese Market
The market for sodium lactate in China is likely to exhibit a 12.7% CAGR and is expected to account for more than 61% of the East Asia market in 2022. China is the key supplier of sodium lactate for the food and pharmaceutical industry. A large number of domestic players are also available in China which will bolster sodium lactate production in China.
The Chinese chemical manufacturers have until recently concentrated on the production of basic chemicals, mineral salts and solvents. They are focusing on R&D, production and sales of lactic acid and its derivative products. Thus in a short period, China has become the leading global supplier of sodium lactate in terms of volume.
Fluid Fortune: Exploring the Revenue Potential of Liquid Form Product Variants
The liquid form of sodium lactate was in high demand in historic period and the demand with continuing increasing through 2033. As per FMI, demand in the segment will increase by a CAGR of 7.9% over the forecast period.
The adaption of liquid sodium lactate in dialysis solutions for continuous ambulatory peritoneal dialysis (CAPD) solution will create opportunities for growth of the market. Liquid sodium lactate also used in intravenous fluid and electrolyte replacement
Unveiling the Powerhouse: Food & Nutritional Supplements Commanding a Whopping 60% Market Share
Food & nutritional supplements by allocation hold more than 25% of the overall share in 2022. Food & nutritional supplements will continue to exhibiting high demand. Application in food and nutritional supplements is expected to increase at a 9.5% CAGR during the forecast period.
The sodium lactate market is highly competitive, with several key players vying for market share. Leading companies in the industry are focused on expanding their product portfolios, enhancing their production capacities, and investing in research and development activities to gain a competitive edge.
These companies are also actively collaborating with end-use industries to understand their specific requirements and develop customized solutions. Strategic partnerships, mergers, and acquisitions are prevalent in the market as companies aim to strengthen their market presence and expand their geographical reach.
The competitive landscape is characterized by innovation, product differentiation, and a strong emphasis on quality to meet the evolving demands of customers across various industries.
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Strategies for Sodium Lactate Manufacturers to Expand in the Market
Product Portfolio:
Report Attribute | Details |
---|---|
Market Value in 2023 | USD 165 million |
Market Value in 2033 | USD 390 million |
Growth Rate | CAGR of 8.9% from 2023 to 2033 |
Base Year for Estimation | 2022 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
Segments Covered |
Product Form, Application, End-User, Region |
Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
Key Companies Profiled | Jungbunzlauer Suisse AG; Galactic; Finetech Industry Limited; Biosynth Carbosynth; Finoric LLC; ABCR GmbH; Glentham Life Sciences Ltd.; TNJ Chemical Industry Co. Ltd.; Foodchem International Corporation; Luoyang Longmen Pharmaceutical Co. Ltd.; BBCA Biochemical Co. Ltd.; Prathista Industries Limited; Henan Jindan Lactic Acid Technology Co., Ltd; Corbion N.V.; Merck KGaA; Lobachemie Pvt. Ltd; Fisher Chemical; Dr. Paul Lohmann Gmbh KG; Advance Inorganics |
Customization & Pricing | Available Upon Request |
The global sodium lactate market valuation is likely to be around USD 165 million in 2023.
The global demand for sodium lactate expanded at 6% CAGR between 2018 and 2022.
The United States accounted for 91% of the total sales of North America in 2022.
Use of sodium lactate in Japan pharmaceutical industry is poised to rise at 6.6% CAGR through 2033.
Germany is figured out to be having 29% of the total demand for sodium lactate in Europe.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Form 5.1. Powder 5.2. Liquid 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Beverages 6.2. Food & Nutritional Supplements 6.3. Clinical Nutrition 6.4. Dialyses Solutions 6.5. Personal Care & Cosmetics 6.6. Cleaners & Detergents 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 7.1. Food & Beverages Industry 7.2. Cosmetic Industry 7.3. Pharmaceuticals Manufacturers 7.4. Medical Devices Manufacturers 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Jungbunzlauer Suisse AG 18.2. Galactic 18.3. Finetech Industry Limited 18.4. Biosynth Carbosynth 18.5. Finoric LLC 18.6. abcr GmbH 18.7. Glentham Life Sciences Ltd. 18.8. TNJ Chemical Industry Co., Ltd. 18.9. Foodchem International Corporation 18.10. Luoyang Longmen Pharmaceutical Co., Ltd. 18.11. BBCA Biochemical Co., Ltd. 18.12. Prathista Industries Limited 18.13. Henan Jindan Lactic Acid Technology Co., Ltd. 18.14. Corbion N.V. 18.15. Lobachemie Pvt. Ltd. 18.16. Fisher Chemical 18.17. Dr. Paul Lohmann GmbH KG 18.18. Advance Inorganics 19. Assumptions & Acronyms Used 20. Research Methodology
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