|Sodium Lactate Market 2022 Risk, Industry Upstream, Forecast And Cagr – 2030|
Sodium Lactate Market Growth & Trends
The global sodium lactate market is expected to reach USD 516.5 million by 2030, registering a CAGR of 8.0% from 2022 to 2030, as per a new report by Grand View Research, Inc. The growth is majorly driven by increasing demand for the product from industries such as personal care and cosmetics, globally.
Sodium lactate is extensively used in food & beverages as an effective preservative as well as a pH regulator. The world is experiencing a surge in the global demand for natural and harmless food additives and preservatives. This is one of the major factors for the growth of the global market. Regulatory bodies like Health Canada, U.S. Food & Drug Administration have accepted the use of sodium lactate as a natural, harmless food additive.
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These products are majorly used in the cosmetic industry. It helps to maintain the pH levels, acts as a moisturizer, and helps in removing dead cells from the skin. The product possesses a keratolytic effect. In simple words, it means that the product helps in removing dead skin cells. Due to these factors, the overall market growth of sodium lactate, especially in the cosmetic industry is poised to increase.
Amid the COVID-19 global pandemic, when many industries were forced to shut down their offices, manufacturing plants, and production facilities, giving rise to negative growth in nearly every sector of the economy, the market witnessed a positive growth rate due to its application in the pharmaceutical and personal care industries.
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Sodium Lactate Market Segmentation
Grand View Research has segmented the global sodium lactate market report based on form, application, and region:
Sodium Lactate Form Outlook (Revenue, USD Thousands, Volume, Tons, 2018 – 2030)
Sodium Lactate Application Outlook (Revenue, USD Thousands, Volume, Tons, 2018 – 2030)
· Food & Beverages
List of Key Players of Sodium Lactate Market
· Jungbunzlauer Suisse AG
· Hefei TNJ Chemical Industry Co., Ltd.
· Foodchem International Corporation
· Luoyang Longmen Pharmaceutical Co., Ltd.
· Henan Jindan Lactic Acid Technology Co., Ltd.
· LobaChem Pvt. Ltd.
· Dr. Paul Lohmann GmbH & Co. KGaA
· JIAAN BIOTECH
· Qingdao Great Biological Engineering Co., Ltd.
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Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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