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The global potassium lactate market is being significantly aided by the growth of the lactic acid market, as the product is primarily derived from lactic acid. The global lactic acid market reached a value of about USD 4.81 billion in 2023. The market is further expected to grow at a CAGR of 17% in the forecast period of 2024-2032.
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Owing to its excellent antimicrobial action and ability to inhibit most spoilage and pathogenic bacteria, potassium lactate is commonly used in the food and beverages sector. It is added to the products to extend its shelf life and ensure food safety, such as in meat and poultry products. Potassium lactate can prevent the growth of the pathogens due to its ability to reduce the pH of the food products. The growing demand for packaged foods and changing dietary patterns are augmenting the demand for the product in the food and beverages industry. Further, it also has applications in the cosmetics and personal care industry due to its high moisturising property and buffering capacity. The rise in demand for cosmetics and personal care products is also aiding the market for potassium lactate.
Region-wise, the Asia Pacific is expected to account for a significant share in the market owing to the growing demand for personal care products, which in turn, is driving the potassium lactate industry growth. Meanwhile, North America is anticipated to witness an increased demand for the product owing to the growing consumption of packaged food products over the forecast period.
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Potassium lactate refers to the potassium salt of lactic acid with the formula KC3H5O3. It is obtained through the process of neutralisation of lactic acid, which has been fermented from a sugar source. It is a liquid product often containing 60% solid content.
On the basis of function, the market is divided into:
Based on end use, the industry can be segmented into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The market is being driven by the growing food and beverages sector globally. The increasing consumption of packaged and processed food products is driving the demand for preservatives and food additives, such as potassium lactate. The growing demand for canned beverages among adults is also aiding the growth of the segment. Further, the growing awareness regarding personal hygiene, particularly in the emerging nations, is driving the demand for personal care products, thus, propelling the growth of the potassium lactate market. The other factors contributing to the market growth include the rising disposable incomes, improving standards of living, growing demand for animal feed, and increasing focus on wellness and appearance. Over the forecast period, the growing demand for potassium lactate in the healthcare sector is expected to have a positive effect on the market expansion.
The report gives a detailed analysis of the following key players in the global potassium lactate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Function |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global lactic acid market attained a value of nearly USD 4.81 billion.
The lactic acid market is projected to grow at a CAGR of 17% between 2024 and 2032.
The major drivers of the industry, such as rising disposable incomes, increasing population, rising demand from the food and beverages and cosmetics sector, product’s favourable properties, and the increasing consumption of packaged and processed food products, are expected to aid the market growth.
The key trend guiding the growth of the market includes the growing applications of the product in the healthcare sector.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading functions of potassium lactate in the industry are food additives, preservatives, emulsifiers, pH and acidity regulators, and bulking agents, among others.
The major end use sectors in the industry are food and beverages, cosmetics, clinical nutrition, personal care, and animal feed, among others.
The major players in the industry are Jungbunzlauer Suisse AG, American Elements, Lab M Limited, Henan Jindan Lactic Acid Technology Co., Ltd, and Qingdao Health Food Co., Ltd., among others.
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+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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