Potassium lactate is a colorless, odorless liquid obtained by neutralizing lactic acid with a potassium compound. It acts as a substitute of salt for low sodium application due to similar functionalities (such as excellent moisturizing and syneresis prevention) as that of salt. It does not have any off-flavors typically associated with other potassium products. Potassium lactate has been widely used in various end-user industries, such as food & beverages, health care, personal care, and cleaner & detergents, as preservative, humectant, antioxidant, and flavoring agent. It is also used to adjust the pH level. Furthermore, potassium lactate is used as an extinguishing agent in the first alert tundra fire extinguishers. The concentration level of potassium lactate is 60%; therefore, it is added directly to the cutter or the curing pickle.
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. 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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.