New York, Aug. 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Sodium Lactate Market Size, Share & Trend Analysis Report by Form, Application, Region and segment forecast, 2022-2030” – https://www.reportlinker.com/p06315281/?utm_source=GNW
Sodium Lactate Market Growth and Trends
The global sodium lactate market is expected to reach USD 516.5 million by 2030, registering a CAGR of 8.0% from 2022 to 2030. The growth is primarily driven by rising demand for the product in industries such as personal care and cosmetics, globally.
Sodium lactate is widely used in foods and beverages as an effective preservative as well as a pH regulator. The world is experiencing an increase in global demand for natural and harmless food additives and preservatives.
It is one of the main growth factors in the global market. Regulatory bodies like Health Canada and the United States Food & Drug Administration have accepted the use of sodium lactate as a natural and harmless food additive.
These products are mainly used in the cosmetics industry. They help maintain pH levels, act as a moisturizer, and help slough off dead skin cells.
The product has a keratolytic effect. In simple terms, this means that the product helps remove dead skin cells.
Due to these factors, the overall sodium lactate market growth, especially in the cosmetics industry, is poised to increase.
Amid the global COVID-19 pandemic, when many industries were forced to shut down their offices, manufacturing plants and production facilities resulting in negative growth in almost every sector of the economy, the market witnessed a positive growth rate due to its application. in the pharmaceutical and personal care industries.
Highlights of the Sodium Lactate Market Report
• The liquid form experienced the highest growth rate of almost 8.0%, due to its ease of handling, transportation and use. In addition, the liquid form is generally used in the pharmaceutical industry as a fluid in the dialysis of many diseases
• The cosmetics application experienced the highest growth rate with 8.3%. This high CAGR is attributed to its wide applicability in various cosmetic and personal care products such as lotions, shampoos, soaps, oral care, hair care, and skin care.
• The Asia-Pacific region is expected to show the highest CAGR of 9.0% due to strong demand for the product due to population growth, rising disposable income and rising living standards of the population of the region
• The global market is fragmented in nature due to the presence of several manufacturing companies that are operational in the global and regional markets. These companies strive to establish their dominance in the market by making various operational and strategic decisions
• The production and use of the product is regulated by various regulatory authorities and the governments of several countries. The US FDA has recognized sodium lactate as GRAS. Additionally, Canada’s Food and Drug Regulations have included it in their list of permitted additives under Class 2 preservatives.
Read the full report: https://www.reportlinker.com/p06315281/?utm_source=GNW
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