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Potassium Lactate Market : Key Growth Factors and Industry Analysis 2024
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The global potassium lactate market can be segmented based on function, end-use, and region. In terms of function, the potassium lactate market can be divided into food additives, preservatives, emulsifiers, PH & acidity regulators, bulking agents, and others. Based on end-use, the potassium lactate market can be segregated into food production, cosmetics, clinical nutrition, personal care, and animal feed.
The global potassium lactate market is expected to expand significantly during the forecast period. Rise in demand for potassium lactate in the food industry is one the major factors driving the market for potassium lactate. Addition of potassium lactate in food products can prevent the growth of pathogens, due to its ability to reduce pH. Potassium lactate is used to improve the quality of food due to its excellent moisturizing effects. However, potassium lactate has not been authorized for usage in infant foods or infant formulas. It is primarily employed in meat and poultry products in order to increase food safety and shelf life. Due to its high moisturizing properties as well as buffering capacity, it is used in a wide range of personal care products such as hair care, oral care, skin care, and soap & bath products. Growth in the personal care industry is anticipated to drive the market for potassium lactate. Rise in demand for potassium lactate in the health care industry is also anticipated to boost the market for potassium lactate during the forecast period. Increase in demand for beverage products is another factor fueling market growth. Potassium lactate is preferred in the detergent industry due to its excellent moisturizing properties.
In terms of region, the potassium lactate market can be divided into Asia Pacific, North America, Europe, Middle East & Africa, and Latin America North America primarily dominates the global potassium lactate market. The region is anticipated to maintain its dominance during the forecast period as potassium lactate is permitted in the U.S as flavoring agent in meat, poultry, and food products with no limitation other than current good manufacturing practice.
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The patent approval for potassium lactate for usage as additive in various food products in Europe is estimated to augment the market for potassium lactate in the region in the near future. Increasing demand for potassium lactate in pharmaceuticals and food & beverages industries in Asia Pacific and Middle East & Africa is projected to boost the market for potassium lactate during the forecast period.
Key players operating in the global potassium lactate market include FBC Industries, Inc., Qingdao Baotai Refining Chemical Co., Ltd., American Elements, Henan Jindan Lacitc Acid Technology Co. Ltd., Lab M, Jungbunzlauer, and Chongqing Bofei Biochemical products, Ltd.
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