Sodium Lactate Market Assessment, By Form [Powder, Liquid], By Application [Antimicrobial, Food Additive, Emulsifier, pH Regulator, Preservative Enhancer, Others], By End-user [Food & Beverages, Healthcare, Personal Care & Cosmetics, Food Packaging, Other

Sodium Lactate Market Assessment, By Form [Powder, Liquid], By Application [Antimicrobial, Food Additive, Emulsifier, pH Regulator, Preservative Enhancer, Others], By End-user [Food & Beverages, Healthcare, Personal Care & Cosmetics, Food Packaging, Others], By Region, Opportunities and Forecast, 2017-2031F

Global sodium lactate market is projected to witness a CAGR of 7.7% during the forecast period 2024-2031, growing from USD 301 million in 2023 to USD 544.87 million in 2031. Sodium lactate is progressively benefitting numerous sectors by providing multifunctional properties as a food additive, cosmetic formulation, etc. North Asia represents around 35% of the global beauty market, followed by North America (26%) and Europe (22%), creating mass opportunities for sodium lactate. The rising demand for long-term preserved food items significantly propels the sodium lactate market. The growing trend for ready-to-eat (RTE) food across European nations is rising rapidly, encouraging food companies to manufacture such products with valuable nutrients and extended shelf life.

The sodium lactate market is experiencing massive growth due to several key applications like antimicrobial characteristics, essential cosmetic preservatives, and food additives in numerous food products. Sodium lactate is considered an edible material that has been extensively used in the meat-packaging industry, where it effectively activates cells to hold water. In addition, it possesses excellent anti-microbial property that significantly holds a large amount of free water in the food to lower the water activity. Sodium lactate is subsequently used as a superior moisturizer that enhances the moisture content of skin by up to 84%. It is also used to treat arrhythmias, which are usually caused by overdosing on class I. Consequently, the food and personal care sectors are propelling the growth of the sodium lactate market.

Food Additives in Food and Nutrition is Propelling the Growth of Sodium Lactate Market

The rising concerns about specific foods and nutrients are encouraging food companies to develop essential food additives that fulfill the proper nutrient content requirement of the body. Sodium lactate has extensive applications as a food additive used as a pH regulator to stabilize the pH and as a seasoning to improve the flavor composition of food products. It is successively used in seafood, ready meals, and instant food, including food supplements. In addition to this, it is used in dairy products, plant-based products, cereals, snacks, etc. Sodium lactate is used in food products according to the specific food grade hierarchy, covering from raw food to processed and cooked food products. Sodium lactate is affirmed Generally Recognized as Safe (GRAS) at 21 CFR 184.1768, but the Food and Drug Administration (FDA) doesn’t authorize its usage in infant food and formulas. Hence, the overall positive market factors for food-based additives are contributing to the growth of the sodium lactate market.

For instance, in May 2023, Cargill and CIECH, global players in the food industry, collaborated to create sodium-based solutions and add food-grade salts to European food manufacturers.

Sodium Lactate is Delivering Impeccable Solutions to Personal Care and Cosmetic Sectors

Sodium lactate is a prominent chemical compound such that its usage in personal care and cosmetics can be recognized substantially. It possesses unique properties that extend its usage as a preservative enhancer, buffering agent, and humectant moisturizer. Sodium lactate's unique water-holding capacity and buffering properties make it a safe preservative in personal care products. It also has bacteriostatic properties where its incorporation in cosmetic formulations can subsequently provide more stability in bacterial growth. While making palm-free soap solution, sodium lactate is especially used and soap shapes can easily be unmolded, gradually increasing the drying process. In addition, sodium lactate is a multifunctional ingredient with extensive applications in cosmetics and skin care products. Hence, the sodium lactate market is anticipated to experience massive growth due to the various requirements of sodium lactate in skin care solutions.

For instance, according to the data published by the Cosmetics Europe Association, Europe’s vast 500 million consumers employ cosmetics and personal care products to preserve their skin, health, self-care, etc. Across the United States, around 4.7 million prestige cosmetics and beauty outlets progressively contribute to generating revenue of USD 19.43 billion in 2023.

Asia-Pacific Market is Progressively Contributing to the Growth of Sodium Lactate Market

The population of India and China comprises of maximum share of the global population and the people are becoming more health and beauty conscious, which successively drives the market of sodium lactate. The product is extensively used as a food preservative that provides inhibition to bacterial growth and increases the shelf life of food products. India and China have a wide manufacturing network that produces sodium lactate on a large scale to incorporate its functional activity in numerous products. Companies like Jiaan Biotech, Qingdao Baotai Purui Food Technology Co., Ltd., and Foodchem International Corporation are successively involved in producing sodium lactate for cosmetic solutions, food additives, kidney dialysis solutions, etc.

Fengchen Group Co., Ltd. is a sodium lactate manufacturing company in Qingdao, China, which is a top pharmaceutical product supplier from China. They produce sodium lactate in powder form and 60% liquid solution which is considered ideal for pharma products used as API in IV solution. Foodchem International Corporation is one of the leading manufacturers of sodium lactate for food additives and ingredients. The Asia-Pacific demographic has always been a strong driving factor in the growth of the world’s beauty and personal care products. The concept of ‘green chemistry’ in most Asian countries has been successively embraced, committing to transform entire cosmetic formulation towards green science to adopt a 95% bio-based ingredient portfolio. Therefore, with such a definite investment, Asia-Pacific region is considered a prominent contributor to the growth of the sodium lactate market.

Impact of COVID-19

The shutdown of retail shops in different verticals due to the imposed lockdown significantly deteriorated economic stability in 2020. The revenue for cosmetic sectors drastically reduced during the pandemic due to lower consumer demands. The unavailability of resources and manpower for building effective manufacturing solutions also significantly affected the sodium lactate market growth. During COVID-19, the food and personal care industry experienced unprecedented fluctuations. During the severe period of the pandemic, several verticals were forced to embrace an e-commerce mode of business in their sales operation. This diversion from the retail business encouraged cosmetic players to adopt the online platform and increase their revenue. These frequent measures showed a massive demand for sodium lactate production that again re-established post-pandemic. Consecutively, the ease in restrictions and removal of lockdown shifted the worst phase of the market to probable growth deriving impeccable market opportunities for the sodium lactate market.

Key Players Landscape and Outlook

The rising sodium lactate market has encouraged prominent companies to produce sodium lactate as food additives, cosmetic formulations, and effective healthcare solutions. The leading global companies in the sodium lactate market are progressively developing sodium lactate that are benefitting prominent sectors. Foodchem International Corporation, a leading manufacturer of sodium lactate in China, is contributing to the growth of the subsequent market of sodium lactate. They produce sodium lactate for popular food additives and ingredients that are extensively used as a preservative, water-retention, and pH regulator in food and cosmetics. Foodchem (FIC) has been in business for 15 years and deals with manufacturing, supplying, and exporting sodium lactate for different sectors.

In July 2023, Foodchem International Corporation accomplished a massive achievement at South Africa’s Big 7 exhibition, where it will resume stringent innovation while delivering excellent quality and service globally. Using the exhibition platform, the company is engaged in extensive exchanges with the world that explore and ensure more probabilities to promote high-quality exports of Chinese food ingredients. Likewise, more prominent companies are promoting their sodium lactate compound according to the specifications by attending food-based exhibition, cosmetic-based solutions, etc.