Sodium Lactate Market Poised for Steady Growth Through 2030
The global sodium lactate market size was valued at USD 259.5 million in 2021 and is projected to reach USD 516.5 million by 2030, growing at a CAGR of 8.0% from 2022 to 2030. The demand for the product is anticipated to be driven by the increasing application of sodium lactate as an API in IV fluids and the dialysis of chronic kidney diseases like CAPD. The market is characterized by the presence of multiple large manufacturing companies around the world. Corbion, Henan Jindan Lactic Acid Technology Co., Ltd., Foodchem International Corporation, Jungbunzlauer Suisse AG are some of the prominent market players. These companies undertake various operations and strategic initiatives such as mergers, acquisitions, partnerships, agreements, and collaborations to establish their presence in existing and new markets. Sodium lactate is lactic acid’s sodium salt, which is obtained by the process of neutralization of naturally derived substances, which hav...