Potassium Lactate Market Statistics - 2027
Potassium lactate is an organic compound, which is actually the potassium salt of lactic acid. It is industrially manufactured by neutralizing lactic acid with a potassium based alkali. Potassium lactate has a wide range of applications as preservatives, flavoring agent, pH regulator, and others. It is extensively used in several end-user industries such as health care, personal care, food & beverage, and others.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has impacted the growth of the global sodium lactate market to a great extent.
- The economic slowdown caused by the pandemic resulted in a decrease in disposable income among the consumers. As a result, the demand for cosmetics and other personal care products decreased, thereby affecting the growth of the sodium lactate market.
- On the other hand, there is an increased awareness about hygiene among the people across the globe due to the outbreak of the global pandemic. This has caused a drastic increase in the usage of soaps and detergents and consequently increased the demand for sodium lactate for the production of soaps and detergents.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The demand for potassium lactate in the global market is expected to increase at a significant rate with its growing application in the food & beverage industry. Potassium lactate plays a major role as preservative owing to its ability to prevent the growth of pathogens and regulating the acidity level. It is extensively used in meat and poultry products to increase their shelf life and maintain the food quality. Moreover, potassium lactate is also used in a wide range of personal care products for skin care, hair care, soaps and detergents and others due to the moisturizing abilities. Potassium lactate is also used in the health care industry due to its superior moisturizing properties. However, stringent regulations under usage of potassium lactate in products for infants and children limits the market growth.
The Asia-Pacific region holds a major share of the global potassium lactate market due to the rapid growth of the food & beverage and personal care sector in the region. The market in North America and Europe is also expected to witness a lucrative growth due to the high demand of potassium lactate in the production of packaged food in the developed nations such as the U.S.
Key benefits of the report:
- This study presents the analytical depiction of the global potassium lactate industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global potassium lactate market share.
- The current market is quantitatively analyzed to highlight the global potassium lactate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global potassium lactate market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Potassium Lactate Market research report:
- What are the leading market players active in the potassium lactate market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Potassium Lactate Market Report Highlights
By Industry Vertical
Key Market Players
Kerry Group, BASF SE, Ener-Foods International Company, Ajinomoto Co., Inc., ADM, Archer Daniels Midland Company, Cargill Incorporated, World Food Processing, Kalsec Inc., FMC Corporation