Lactates Market

Inclusion of lactates in infant formulas is one of the significant factors boosting revenue growth of the global market

In developing as well as in developed countries, a remarkable rise has been witnessed in premium brands of infant formula. One of the significant reasons behind this astonishing rise in premium brands of infant nutrition is parents’ growing concerns regarding the ingredients used in infant formulations. Such pickiness about premium brands is also possibly due to the growing per capita income and increasing purchasing power of parents. Parents these days are very health conscious and they wish to select only the best nutritional formula for their babies.

All these factors are collectively responsible for the tremendous growth of the global lactates market. Recent shifts in consumer lifestyles due to growing urbanisation is also contributing to the growth of the market. Elite consumers are also contributing to the revenue growth of the overall market as they prefer to choose only premium nutritional formula. These formulas consist of potassium, magnesium and zinc, which make them nutritionally rich.

By fermenting sugar, sodium lactates can be produced and these also have noteworthy market share. Sugar that is used for fermentation is generally sourced from feedstock such as corn, wheat, and sugarcane. The raw material for this fermentation is easily available in Asia that too at a very cheap cost. As a result, the overall production cost of sodium lactates is relatively low in the Asia Pacific region.

Consequently the large global production of sodium lactate has therefore been shifted to Asia and this trend is predicted to continue in the future as well. This shift of production of sodium lactates to Asia is also supported by the fact that this region has the highest consumption of salt that boosts the production of sodium lactates.

The quality of adjusting acidity in a human body makes potassium lactates exhibit higher growth in the global lactates market

With a robust CAGR of 5.1%, the potassium lactates segment in the global lactates market is expected to exhibit the highest growth during the period of forecast. The potassium lactate segment is expected to exhibit 1.5X growth during the period of assessment. This growth can be attributed to the quality of the salt and its use as a preservative in meat and other poultry products. However, owing to the wide range of applications in drugs and food & beverages, the calcium segment captures the highest market share, and will retain its dominant position in the next 10 years. The calcium lactate segment is expected to exhibit 1.6X growth in terms of value over the forecast period.

 

Market segmentation

By Form

• Solid
• Liquid

By Application

• Food and Beverages Industry
  • Meat and Seafood Products
  • Bakery
  • Dairy
  • Beverages
  • Others
• Pharmaceutical Industry
• Personal Care Industry
• Animal Feed Industry
• Agriculture Industry
• Others

By Product

• Sodium Lactates
• Potassium Lactates
• Calcium Lactates
• Magnesium Lactates
• Zinc Lactates
• Others

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• MEA