The new report by Expert Market Research titled, ‘Global Potassium Lactate Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global potassium lactate market, assessing the market based on its segments like functions, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
• Historical Market Size (2020): USD 3 Billion
• Forecast CAGR (2023-2028): 17%
Potassium lactate is widely used in the food and beverage industry due to its outstanding antimicrobial activity and ability to inhibit most spoilage and pathogenic bacteria. It is added to the products to prolong its shelf life and ensure food protection, as in meat and poultry products.
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Because of its ability to lower the pH of food products, potassium lactate can prevent pathogens from increasing. In the developing region, many food manufacturers integrate potassium lactate in many food products, which is leading to the market growth in the developed regions.
Industry Definition and Major Segments
Potassium lactate is the potassium salt of lactic acid and is attained through the neutralisation of lactic acid fermented from a sugar source.
The Asia Pacific area is expected to account for a significant market share due to the rising demand for personal care products. Meanwhile, due to the increasing consumption of packaged food products over the forecast period, North America is expected to see increased demand for the commodity.
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The market can be divided into the following segments by function:
• Food Additives
• Preservatives
• Emulsifiers
• pH and Acidity Regulators
• Bulking Agents
• Others
Based on end use, the market is segmented into:
• Food and Beverages
• Cosmetics
• Clinical Nutrition
• Personal Care
• Animal Feed
• Others
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
The potassium lactate market’s growth is fuelled by certain factors, such as the growing demand for packaged food and beverage products due to longer shelf life. Consumer understanding of beauty and health care products is growing, which has increased the use of potassium lactate in many products. The growing demand for packaged foods and the food and beverage industry’s dietary trends are increasing the market for the commodity.
In addition, because of its high moisturising property and buffering ability, it also has applications in the cosmetics and personal care industry. Also supporting the market for potassium lactate is the growth in demand for cosmetics and personal care products.
Key Market Players
The major players in the market are Jungbunzlauer Suisse AG, American Elements, Lab M Limited, Henan Jindan Lactic Acid Technology Co., Ltd (SHE: 300829), and Qingdao Health Food Co., Ltd. (SHE: 002899) among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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