According to the forecast presented in the report, the
global lactates
market is estimated to be valued at USD 653.1 million in 2022 and is projected
to reach USD 1.1 billion by 2032, recording a CAGR of 3.7%, in terms of value.
Growing demand for lactates as preservatives in bakery products and increasing
demand for lactates in dietary supplements are some of the driving factors
behind the growth of the global market for lactates.
According to the latest publication by Future Market
Insights titled “Lactates Market: Global Industry Analysis
(2017-2021) and Opportunity Assessment (2022-2032),” the North
America regional market represents a relatively higher value share for
beverages and dairy products, and a subsequent high usage of lactates as
additives. The lactates market in this region is expected to witness steady
growth in the coming decade.
Global Lactates Market: Factors Impacting Revenue Growth
- Sustainable
demand for lactic salts in anti-ageing and premium cosmetic formulations
- Increasing
consumption of lactates in the oral care industry
- Growth
in the mineral industry in Asia Pacific is an indirect driver for lactates
market growth
- Increasing
demand for calcium salts in the treatment of osteoporosis
- Rise
in healthcare expenditure in the Middle East & Africa
Global Lactates Market: Forecast by Application
On the basis of application, the global lactates market is
segmented into food & beverages, pharmaceuticals, personal care, animal
feed, agriculture, and others. The application of lactates in beverages is
estimated to increase globally.
This is attributed to increased consumer demand for
micronutrients in drinks such as juices, ready-to-drink premixes, and powdered
beverages. Consequently the food & beverage segment makes up the highest
market share both in terms of value and volume, and will retain its dominant
position over the forecast period.
Global Lactates Market: Forecast by Form
On the basis of form, the global lactates market is
segmented into solid and liquid segments. In terms of value and volume, the
liquid segment is expected to exhibit the highest growth over the forecast
period. In 2017, the liquid segment was valued at US$ 188.1 Mn, which is
expected to reach US$ 313.7 Mn by 2027, expanding at a CAGR of 5.2% during the
projected period.
Global Lactates Market: Forecast by Product Type
On the basis of product type, the global market for lactates
is segmented into Sodium Lactates, Potassium Lactates, Calcium Lactates,
Magnesium Lactates, Zinc Lactates and Others. Sodium Lactates and Zinc Lactates
captured equal revenue share in the year 2017 and will witness relatively good
growth during the forecast period.
Global Lactates Market: Forecast by Region
In terms of volume, APEJ is expected to exhibit the highest
growth during the period of study, closely followed by Japan. On the other
hand, MEA makes up the smallest market share, both by value and volume, and is
expected to grow steadily over the forecast period. North America is expected
to account for the highest market share both in terms of value and volume, and
will retain its dominant position over the forecast period.
Global Lactates Market: Key Players
Corbion N.V., Merck KgaA, Seidler Chemical Co, Inc., Alfa
Aesar GmbH & Co KG (Thermo Fisher Scientific Inc.), Caldic B.V., FBC
Industries, Inc., Global Calcium Private Limited, Musashino Chemical
Laboratory, Ltd., Henan Jindan Lactic Acid Technology Co., Ltd, Pfanstiehl,
Inc., Jungbunzlauer SuisseAG, ISALTIS, American Elements, Dr. Paul Lohmann GmbH
KG, Jost Chemical Co., Galactic s.a., Zhengzhou Tianrun Lactic Acid Co., Ltd.,
BSA Inc., Prathista Industries Limited and Magnesia GmBh are some of the
leading companies profiled in the report.
Read Full Report: https://www.futuremarketinsights.com/reports/lactates-market