Global Sodium Lactate Market Size To worth USD 793.5 Million By 2033 | CAGR of 8.39%
Category: Chemicals & MaterialsGlobal Sodium Lactate Market Size To worth USD 793.5 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Sodium Lactate Market Size is Expected to Grow from USD 354.5 Million in 2023 to USD 793.5 Million by 2033, at a CAGR of 8.39% during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 117 Market data tables and figures & charts from the report on the " Global Sodium Lactate Market Size, Share, and COVID-19 Impact Analysis, By Form (Liquid and Powder), By Application (Cosmetics & Personal Care, Pharmaceuticals, Food & Beverage, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/sodium-lactate-market
The sodium lactate market refers to the market of sodium lactate, a sodium salt of lactic acid that has widespread application in food & beverage, cosmetics, and pharmaceutical sectors. Sodium lactate is extensively used in meat, poultry, and fish products owing to its ability to prolong shelf life and improve food safety. Furthermore, the growing use of sodium lactate as an API in IV fluids and the dialysis of chronic renal illnesses like CAPD is expected to drive the product’s demand. The growing need for processed food, pharmaceuticals, and personal care products along with the increasing urbanization and lifestyle changes are offering lucrative market opportunities for sodium lactate. The expanding application of sodium lactate in various skin, hair, and personal hygiene products is driving the market expansion. Further, the consumer preference for convenience and ready-to-eat meals is contributing to driving the market demand for sodium lactate owing to its preservative capabilities. On the contrary, the regulatory and quality concerns about sodium lactate are challenging the market growth.
The liquid segment dominates the market with the largest revenue share and is anticipated to grow at a significant CAGR during the forecast period.
Based on the form, the sodium lactate market is classified into liquid and powder. Among these, the liquid segment dominates the market with the largest revenue share and is anticipated to grow at a significant CAGR during the forecast period. The pharmaceutical industry’s need for sodium lactate in a liquid form is driving the market in the liquid segment.
The cosmetics & personal care segment accounted for the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the sodium lactate market is classified into cosmetics & personal care, pharmaceuticals, food & beverage, and others. Among these, the cosmetics & personal care segment accounted for the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period. The increasing awareness about skin health and sustainable ingredients in personal care products is driving the market demand.
Asia Pacific is estimated to hold the largest share of the sodium lactate market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the sodium lactate market over the forecast period. The need for sodium lactate solutions is growing owing to the higher priority on operational effectiveness and technology improvements, thereby propelling the market demand. In addition, the trend of digitalization and incorporation of artificial intelligence is driving the market growth.
North America is predicted to grow at the fastest CAGR in the sodium lactate market over the forecast period. The region’s advanced healthcare infrastructure and awareness about health & wellness are promoting the regional market for sodium lactate. Further, the robust pharmaceutical and healthcare sector along with the surging emphasis on sustainable practices in lactate production is driving the market.
Major key players in the global sodium lactate market include Jungbunzlauer Suisse AG, Basel, Musashino Chemical Laboratory, Ltd., Fengchen Group Co., Ltd., Hawkins, Inc., Junsei Chemical Co.,Ltd., Kishida Chemical Co.,Ltd., Avanschem, AXIOM CHEMICALS PVT. LTD., Central Drug House, Vizag Chemical International, JIAAN BIOTECH, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In April 2024, Jungbunzlauer, a major player in the sodium lactate industry, announced an expansion of its production capacity to satisfy the increasing demand for sodium lactate across a range of industries.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the sodium lactate market based on the below-mentioned segments:
Global Sodium Lactate Market, By Form
- Liquid
- Powder
Global Sodium Lactate Market, By Application
- Cosmetics & Personal Care
- Pharmaceuticals
- Food & Beverage
- Others
Global Sodium Lactate Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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