Lactate Salts Market Size, By Product (Sodium Lactate, Calcium Lactate, Magnesium Lactate, Potassium Lactate), By Application (Food & Beverages, Cosmetic, Pharmaceutical) Industry Analysis Report, Regional Outlook, End-user Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Lactate Salts Market Size

Lactate Salts Market size was USD 291.3 million in 2020 and will grow at a CAGR of 9.6% from 2021 to 2027. The rising demand for cosmetic & personal hygiene products has projected a positive outlook for industry expansion.
 

Lactate salts are mineral salts of lactic acid. They are used as additives in various business segments. They are used in the cosmetic sector to maintain moisture, stabilize pH value, and remove dead skin cells. The cosmetic segment is growing rapidly due to increasing population, growing middle-class population, rising disposable income, and growing penetration of cosmetic production in the rural areas of many emerging countries. Cosmetic products, such as skin care, hair care, oral care, moisturizing cream, etc., use sodium lactate due to its low cost and safety.
 

The high demand for anti-dandruff and various anti-hair loss products will increase product penetration in the cosmetic industry, driving the demand for lactate salts over the projected period. Lactate salts also find applications in pharmaceutical formulations to treat skin, hair, and oral problems. They are used as moisturizers, humectants, or as a source of minerals in the body. The growing pharmaceutical market and increasing research & development activities will further drive the lactate salts market share over the anticipated timeframe.
 

The emergence of innovative production methods to decrease production costs and simultaneously maintain the optimum quality will drive the lactate salts market sales. The development of innovative fermentation processes is set to increase the volume output for manufacturers and is expected to further boost the product demand.
 

The ongoing COVID-19 pandemic is expected to create a slowdown in business growth rate over the short, medium, and long terms. The cosmetic segment has contracted significantly due to the shutdown of retail stores, hypermarkets, and malls across major parts of the world. This trend has increased the inventory of cosmetic products and restricted the consumption growth of lactate salts in 2020. However, the pharmaceutical segment growth coupled with the gradual recovery of economies will drive the demand for food & cosmetic products, creating a positive impact on the lactate salts market revenue over the projected period.
 

Lactate Salts Market Analysis

Calcium lactate will generate over USD 340 million in 2027 owing to its use in the food, cosmetic, and pharmaceutical industries. Calcium lactate is used as a food additive to stabilize, increase flavor, thicken, or leaven foods. The growing use of calcium lactate can also attribute to its use as a calcium source in the pharmaceutical segment.
 

Calcium lactate has various advantages compared to other calcium salts including better palatability with texture, low astringency, low toxicity, and higher stability. A large amount of calcium is necessary during pregnancy, lactation, and during the growth period. Inadequate calcium can lead to imperfect calcification of teeth & bones and may lead to rickets. Calcium lactate is used as tonics, multivitamins, sedatives, and as hematinic in the pharmaceutical market. It is used in the food sector to enhance the health & nutrition value of various foods such as baby foods, biscuits, juices, and health foods.
 

The food & beverages segment accounts for over 60% share in lactate salts market volume. The growing penetration of lactate salts in the food sector primarily in many emerging economies, such as China, India, Vietnam, Indonesia, Brazil, is expected to further drive the market for lactate salts during the projected period.
 

Lactate salts are utilized as preservatives and pH regulators in the food sector. They are also used as an emulsifier, humectant, flavor enhancer, and antioxidant. Lactate salts increase the shelf life of food products by reducing the effects of bacteria and microorganisms on food products. Lactate salts are generally recognized as safe by the U.S. FDA. Rising population, changing consumer interests, and increasing spending propensity will trigger demand in the food sector, thereby augmenting the lactate salts market growth over the coming years.
 

Asia Pacific will witness over 9% CAGR by 2027. Growing consumption of lactate salts by the food, cosmetic & pharmaceutical sectors coupled with growing economies in the region is further expected to drive the demand for lactate salts. The presence of many small and medium-scale producers of lactate salts in the region will have a positive impact on the lactate salts industry.
 

Emerging countries in Asia Pacific, such as China and India, are some of the largest consumers of lactate salts. The pharmaceutical sector in these countries is rapidly developing owing to which these two economies are the largest exporters of calcium lactate. The rising food processing business in South Asian countries, such as Myanmar, Taiwan, and Indonesia, is also driving the demand for lactate salts.
 

Lactate Salts Market Share

The lactate salts industry is a highly competitive market and technology plays an important role in gaining market share. Prominent players operating in the lactate salts industry include

• Dr. Paul Lohmann GmbH & Co.
• KGaA
• JungbunzLauer
• Corbion N.V.
• Ikigai Corporation
• Galactic
• Jindal Europe
• Showa Kako Corporation.

Industry players are extensively investing in R&D operations to gain a competitive edge over other companies i.e., funding new researches.
 

The lactate salts market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand tons and revenue in USD million from 2017 to 2027 for the following segments:

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By Product

• Sodium lactate
• Calcium lactate
• Magnesium lactate
• Potassium lactate
• Others

By Application

• Food & beverage
• Cosmetic
• Pharmaceutical
• Others

The above information is provided on a regional and country basis for the following:

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Indonesia
  • Malaysia
  • Australia
  • South Korea
• LATAM
  • Brazil
  • Mexico
• MEA
  • South Africa
  • Saudi Arabia
  • Kuwait
  • UAE