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Global Potassium Lactate Market Witness a Healthy Growth During 2020-2025, Supported by the Growth of the Global Lactic Acid Market

According to a new report by EMR titled, ‘Global Potassium Lactate Market Report and Forecast 2020-2025’, the global market for potassium lactate is aided by the lactic acid market, which attained USD 3 billion in 2019. The lactic acid market is further expected to grow at a CAGR of 17% between 2020 and 2025.

The demand for potassium lactate is growing in various end use industries owing to its excellent moisturising properties as well as buffering capacity. It is extensively used in the preparation of a wide range of personal care products like hair care, skin care, and oral care products, among others. The growing technological advancements and improving standards of living are expected to contribute to the industry growth. The companies are heavily investing in innovating the products to meet customer requirements. Some of the major companies in the industry include Jungbunzlauer Suisse AG, and American Elements. The growing focus on a healthy and environmentally friendly lifestyle is leading to an increased demand for plant-based products. Jungbunzlauer Suisse offers bio-based ingredients and natural solutions like potassium lactate for the food and personal care industry, thus, aiding the expansion of the potassium lactate market.

Further, the e-commerce industry is witnessing a rapid expansion, particularly in the emerging nations. The growing popularity of online shopping is resulting in increased demand for preservatives to enhance the shelf life of products, which, in turn, is contributing to the growth of the potassium lactate market. In October 2019, the e-commerce giant, Amazon.com, Inc. (NASDAQ: AMZN) announced the launch of Amazon.sg to expand its presence in Singapore by providing an online platform dedicated to customers in the country. Moreover, in May 2020, Amazon Singapore announced that the company is assisting local retailers with business continuity during COVID-19 through Enterprise Singapore’s Singapore E-Commerce Programme and providing additional incentives to local retailers selling online. Such developments are expected to enhance the demand for potassium lactate over the forecast period.

Market Breakup by Function, End Use, and Regions:

  • On the basis of function, the market can be segmented into food additives, preservatives, emulsifiers, pH and acidity regulators, and bulking agents, among others.
  • Based on end use, the market has been categorised into food and beverage, cosmetics, clinical nutrition, personal care, and animal feed, among others.
  • Region-wise, the global potassium lactate market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global potassium lactate market is being driven by the growing demand for packaged food products and the growing consumer disposable incomes.
  • The rising demand for cosmetics and personal care products are significantly contributing to the industry growth.
  • The market is receiving a further boost due to the growing retail sector.
  • The growing standards of living and the rising demand for meat and poultry products are further aiding the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global potassium lactate market for the periods (2015-2019) and (2020-2025).
  • The report also offers historical (2015-2019) and forecast (2020-2025) market information for the functions, end uses, and regional markets of potassium lactate.
  • The report also gives the regional historical (2015-2019) and forecast (2020-2025) price trends of the product.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global potassium lactate market are Jungbunzlauer Suisse AG, American Elements, Lab M Limited, Henan Jindan Lactic Acid Technology Co., Ltd, and Qingdao Health Food Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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