Sodium Lactate Market Size, Growth Analysis and Forecast 2022 - 2028

Industry Prospective:

The global sodium lactate market size was worth around USD 260.1 million in 2021 and is predicted to grow to around USD 448.6 million by 2028 with a compound annual growth rate (CAGR) of roughly 8.1% between 2022 and 2028. The report analyzes the global sodium lactate market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the sodium lactate market.

Sodium Lactate Market: Overview

The sodium salt of lactic acid, sodium lactate, has a mildly salty flavor. It is made by fermenting sugar sources like corn or beets and then neutralizing the lactic acid that results to yield a substance with the formula NaC3H5O3. Naturally, sodium lactate, a liquid substance, is also offered in powder form. Food goods frequently contain sodium lactate as a preservative.

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Additionally, it works incredibly well as a humectant, strengthening the moisture barrier in the skin. Furthermore, sodium lactate can be added to lotions to make them thicker and more moisturizing. To give the argan and shea lotion and fresh face oil-free lavender lotion a creamier texture, sodium lactate is included in the recipe. Skin remains hydrated longer because of sodium lactate's humectant qualities. Injections of sodium lactate, a concentrated solution of sodium lactate in water, are available. There is no bacteriostat, antimicrobial, or additional buffer present in the solution.

Key Insights

• As per the analysis shared by our research analyst, the global sodium lactate market is estimated to grow annually at a CAGR of around 8.1% over the forecast period (2022-2028).
•  In terms of revenue, the global sodium lactate market size was valued at around USD 260.1 million in 2021 and is projected to reach USD 448.6 million, by 2028.
• The global sodium lactate market is projected to grow owing to the increasing demand for sodium lactate from various end-use industries such as pharmaceutical, food & beverages, and others.
• Based on form, the liquid segment accounted for the largest revenue share in 2021.
• Based on end users, the cosmetic segment is expected to dominate the market during the forecast period.
• Based on region, North America is projected to dominate the market during the forecast period.

Sodium Lactate Market: Growth Drivers

Increasing the application of sodium lactate in the cosmetics and personal care industry to drive the market growth

The global sodium lactate market is being driven by the rising demand for cosmetics and personal care products worldwide. The market is growing as a result of factors like rising social network usage, rising consumer interest in high-end and new products, and an increase in the number of upper-middle-class people.

The growth in worldwide online cosmetics sales in 2018 was 25%, and e-share commerce of the beauty market was 12.5%, according to the L'Oréal 2018 annual report. Moreover, in cosmetic products, sodium lactate serves as a buffering agent and preservative enhancer. It also has bacteriostatic properties. Usage as a humectant in the creation of moisturizers, creams, lotions, and several other skincare products is another important use of sodium lactate in cosmetics and personal care goods. Thus, the rising application of sodium lactate in the cosmetics and personal care industry to drive market growth during the forecast period.

Sodium Lactate Market: Restraints

High dependency on imports might be hampering the market growth

One of the main factors restricting the market is its high reliance on imports. Developing nations with import-dependent economies include Vietnam, Indonesia, Brazil, Argentina, Mexico, and Columbia. Heavy imports from outside the area are the main source of sodium lactate demand. Despite some of the top producers of chemical commodities having large production capacities in nations like the United States, India, Argentina, Brazil, and Mexico, there is still a significant discrepancy between total demand and production. Countries rely largely on imports as a result to cover the gap. Over the projected period, any imbalance in imports could impact the global sodium lactate market.

Sodium Lactate Market: Opportunities

The growing application of sodium lactate from various end-use industries is expected to provide a lucrative opportunity for the market expansion

In the food and beverage industry, sodium lactate is widely used in food products as a preservative, and many products, it is also used as the bulking agent. In the healthcare industry, sodium lactate is given intravenously as a supply of bicarbonate to prevent or regulate adequately mild metabolic acidosis in patients that have not so seriously impaired oxidative processes and whose oral ingestion is limited. Sodium lactate is a source of bicarbonates thus it is used as raw material for later bicarbonates regeneration when normal utilization and production of lactic acid are not harmed due to improper lactate metabolism. Thus, the growing demand for sodium lactate from various industries is expected to provide a lucrative opportunity for market growth.

Sodium Lactate Market: Segmentation

The global sodium lactate market is segmented based on the form, application, end user, and region

Based on form, the global market is bifurcated into powder and liquid. The liquid segment accounted for the largest revenue share of more than 75% in 2021 and is expected to show its dominance during the forecast period. The growth in the segment is attributed to the increasing demand for liquid sodium lactate from the pharmaceutical industry. It is used in IV solutions and dialysis for chronic kidney diseases (CKD). Initial production of sodium lactate takes place in the liquid state. Due to its mild oiliness and effective moisturizing properties, it is often utilized in the production of soaps, lotions, and shampoo. Because sodium lactate complies with several rules established by regulatory agencies and the governments of numerous nations, its use on human skin is safe. In addition to the liquid form, the powdered form is also offered. The composition of cosmetics and personal care products typically uses the powdered form. It demonstrates potent antibacterial and humectant qualities that are extremely advantageous for the cosmetics sector. As a result, it is added to bar soaps to promote moisture retention and decrease cracking.

Based on end-user, the market is segmented into cosmetics, pharmaceuticals, food & beverages, and others. The cosmetics segment is anticipated to dominate the market during the forecast period. The growth in the segment is attributed to the growing demand for cosmetics and personal care products. For instance, according to Assocham, the market for beauty, cosmetics, and grooming products in India would grow from its current $6.5 billion to $20 billion by 2025 as a result of rising middle-class disposable income and rising ambitions for a fulfilling life and attractive appearance. On the other hand, due to its extensive utilization in several food products and beverages, the food and beverage industry has become one of the most well-known industry sectors. Sodium lactate is utilized to stabilize the food item due to the cushioning action. To enhance the flavors of food, particularly meat products like hog, poultry, and beef as well as a few fish items, it is also used as a spice.

Recent Developments:

• In June 2021, YO-MIX ViV, a lactic acid bacteria culture-based product that will be utilized in ambient yogurt and other fermented beverages, launched by International Flavors & Fragrances (IFF). The product is intended for the Asia-Pacific region, with China receiving special attention.
• In September 2019, key producers Corbion and Brenntag entered into a distribution deal for Corbion's wide range of goods throughout the Middle East and Europe.

Sodium Lactate Market Report Scope:

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Sodium Lactate Market: Regional Analysis

North America region is expected to dominate the market during the forecast period

North America is expected to dominate the global sodium lactate market during the forecast period. The increasing demand from the local pharmaceutical industry is accountable for this domination. One of the world's top pharmaceutical and healthcare sectors is found in North America. Additionally, the use of sodium lactate in the region is permitted by several regulatory agencies, including the US FDA and Health Canada, and it complies with CODEX Alimentarius' "International Food Standard." Besides, the Europe region is anticipated to hold the second largest position and is expected to boost over the forecast period. The growth in the region is attributed to the presence of major players such as Corbion, Jungbunzlauer Suisse AG, and Dr Paul Lohmann GmbH & Co., KgaA. Furthermore, the personal care and cosmetics sector is centered in Europe. This explains why there is a growing need for these industries in the region. The product's demand is expected to increase as it finds use in the aforementioned sectors of the economy.

Sodium Lactate Market: Competitive Analysis

The global sodium lactate market is dominated by players like Hefei TNJ Chemical Industry Co., Ltd., JUNGBUNZLAUER SUISSE AG, Foodchem International Corporation, Luoyang Longmen Pharmaceutical Co., Ltd., Corbion, Henan Jindan lactic acid Technology Co., Ltd., Loba Chemie Pvt. Ltd., Dr Paul Lohmann GmbH & Co. KGaA, JIAAN BIOTECH, Qingdao Great Biological Engineering Co., Ltd., among others.

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The global sodium lactate market is segmented as follows:

By Form

• Powder
• Liquid

By Application

• Antioxidant
• Emulsifier
• Acidity Regulator
• Flavor Enhancer
• PH Regulator
• Preservative
• Humectant

By End User

• Cosmetics
• Pharmaceuticals
• Food & Beverages
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa