Pune, India--(뉴스와이어)--Sodium lactate market revenue totaled US$ 158.7 Mn for 2021, according to a study by Future Market Insights (FMI). The overall sodium lactate sales are expected to reach US$ 368.3 Mn by 2031, growing at a CAGR of 8.8% for 2021 - 2031.

Sodium lactate find extensive applications in the food & beverage industry, pharmaceutical and cosmetic, and personal care products owing to its superior properties and cost-effective nature. As per a new study by Future Market Insights (FMI), the demand for sodium lactate will increase by 8.8% between 2021 and 2031.

Focus on reducing the cost of production to offset the high feedstock cost and gain a competitive edge among leading players will bode well for the market. Moreover, manufacturers are expanding their manufacturing capabilities and increasing their exports to make deeper inroads in markets with unmet needs.

Increasing safety concerns have encouraged governments around the world to implement stringent regulations to maintain and enhance the quality of food, cosmetic and chemical products. These regulations have been created with the intent to keep an eye on chemical additives and contaminants in food supplies. This is expected to create attractive opportunities for growth.

Fast Expanding End-User Industries and Product Compliance

Food & beverage, cosmetic industry, pharmaceuticals manufacturers are prominent end-user industries gaining momentum. With the prompt expansion of the food & beverage and agricultural industry across the globe, it will fuel the demand for sodium lactate-based products. Manufacturers may want to steadily exit or avoid entering the vulnerable solvents marketplace as the usage of VOC-based products is banned and prohibited in developed countries.

Sodium Lactate Market Segmentation

The study provides compelling insights on the sodium lactate market on basis of Product Form in detail cover every aspect of the market such as (Powder, Liquid), Application (Beverages, Food & Nutritional Supplements, Clinical Nutrition, Dialyses Solutions, Personal Care & Cosmetics, Cleaners & Detergents), End User (Food & Beverages Industry, Cosmetic Industry, Pharmaceuticals Manufacturers, Medical Devices Manufacturers, Others) across seven major regions.

Competitive Landscape

Some of the leading companies of this market include:

Jungbunzlauer Suisse AG, Biosynth Carbosynth, Corbion N.V., Prathista Industries Limited, Dr. Paul Lohmann GmbH KG, Merck KGaA, Advance Inorganics, Hexon Laboratories Private Limited, Galactic S.A., abcr GmbH

To know more about the current and prospective growth scenario that has been in the forecast for the Sodium Lactate market in the global region and gain insights on the recent market developments influencing overall market performance, refer to the related links.