Sodium Lactate Industry Overview
The global sodium lactate market size was valued at USD 259.5 million in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030. The demand for the product is anticipated to be driven by the increasing application of sodium lactate as an API in IV fluids and the dialysis of chronic kidney diseases like CAPD. The market is characterized by the presence of multiple large manufacturing companies around the world. Corbion, Henan Jindan Lactic Acid Technology Co., Ltd., Foodchem International Corporation, Jungbunzlauer Suisse AG are some of the prominent market players. These companies undertake various operations and strategic initiatives such as mergers, acquisitions, partnerships, agreements, and collaborations to establish their presence in existing and new markets.
Sodium lactate is lactic acid’s sodium salt, which is obtained by the process of neutralization of naturally derived substances, which have a high purity sodium source. The production process of sodium lactate is carried out naturally by living organisms and is obtained as a by-product of glycolysis. It is a colorless to yellowish substance, which is nearly odorless and has a mild salty taste.
Gather more insights about the market drivers, restraints, and growth of the Global Sodium Lactate Market
These products have wide usage in various industries such as food & beverages, cosmetics, personal care, as well as pharmaceutical. It finds its largest application in the cosmetics industry as a pH regulator and moisturizer in various skin care products. Apart from the cosmetics industry, the product is adopted by the food & beverages industry as well. It is being used as a natural food additive, and as a preservative in various food items, especially seafood and meat products.
Increasing global spending on the healthcare and pharmaceutical industry, especially after the global pandemic has created a great demand for the products that are extensively used in the pharma industry. Sodium lactate is as an over the counter (OTC) medicine. In addition, it is also used as a pH regulator to relieve acidosis. Various such factors are responsible for the market growth. Apart from this, it is also used in injections, as a nonpyrogenic, sterile, and a concentrated solution, generally in water. It is also used as an additive after the dilution by intravenous route as a systematic alkalizer and also as an electrolyte replenisher.
Browse through Grand View Research's Specialty Polymers Industry Related Reports
Polylysine Market - The global polylysine market was valued at USD 728.8 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2030.
Lactic Acid Market - The global lactic acid market size was valued at USD 3.1 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 8.0% from 2023 to 2030.
Sodium Lactate Industry 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)
- Powder
- Liquid
Sodium Lactate Application Outlook (Revenue, USD Thousands, Volume, Tons, 2018 - 2030)
- Cosmetics
- Pharmaceuticals
- Food & Beverages
- Others
Sodium Lactate Regional Outlook (Revenue, USD Thousands, Volume, Tons, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- MEA (Middle East & Africa)
Key Companies profiled:
Some prominent players in the global Sodium Lactate Industry include
- Jungbunzlauer Suisse AG
- Hefei TNJ Chemical Industry Co., Ltd.
- Foodchem International Corporation
- Luoyang Longmen Pharmaceutical Co., Ltd.
- Corbion
- Henan Jindan Lactic Acid Technology Co., Ltd.
- LobaChem Pvt. Ltd.
- Dr. Paul Lohmann GmbH & Co. KGaA
- JIAAN BIOTECH
- Qingdao Great Biological Engineering Co., Ltd.
Order a free sample PDF of the Sodium Lactate Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment