Calcium Lactate Market is Estimated to Witness High Growth Owing to Rising Demand in Animal Feed Industry
Calcium lactate is commonly used as a food additive and preservative across the food processing industry. It acts as a mineral and acidity regulator, and helps maintain optimal pH levels in food products. The compound enhances shelf-life and protects nutrients in animal feed, fruits, vegetables, meat and dairy products. Calcium lactate also improves bone health when used as a dietary supplement.
The global calcium lactate market is estimated to be valued at US$ 1987.2 Mn in 2023 and is expected to exhibit a CAGR of 2.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The calcium lactate market size is expected to witness substantial growth over the forecast period, owing to increased demand from the animal feed industry. Calcium lactate is commonly added to pet food, fish feed and cattle feed to provide essential calcium and lactate. It enhances nutrient absorption and bone development in animals. With rising meat consumption globally, demand for animal feed has surged, which is a key factor fueling the calcium lactate market growth. Additionally, growing awareness about health benefits of calcium supplements is also contributing to the market expansion. However, factors such as availability of cheaper substitutes may restrain the market to a certain extent during the forecast period.
SWOT Analysis
Strength:
- Calcium lactate offers various health benefits such as improved bone and tooth health which drives its demand in food and beverage fortification applications. It helps in absorbing calcium more effectively.
- It is widely used as a nutritional supplement due to high bioavailability and low risk of side effects. This allows manufacturers to market calcium lactate supplements effectively.
- Calcium lactate has significantly higher calcium content compared to other calcium salts which gives product formulation advantage.
Weakness:
- It has a mildly sour or salty taste which limits its use in certain food applications requiring neutral taste. This acts as a constraint.
- Calcium lactate is more expensive compared to other calcium salts due to involved manufacturing process. This hinders its popularity in cost-sensitive regions.
Opportunity:
- Rising health consciousness and focus on preventive healthcare is driving the demand for fortified food and dietary supplements. This provides major growth opportunities for calcium lactate market.
- Growing elderly population susceptible to bone related disorders and diseases will augment the consumption of calcium supplements containing calcium lactate.
Threats:
- Availability of cheaper calcium salts such as calcium citrate and calcium carbonate limits the uptake of more expensive calcium lactate.
- Intense competition from other micronutrient supplements lowers the profit margins of calcium lactate producers.
Key Takeaways
The global calcium lactate market is expected to witness high growth over the forecast period of 2024 to 2031. The global Calcium Lactate Market is estimated to be valued at US$ 1987.2 Mn in 2023 and is expected to exhibit a CAGR of 2.0% over the forecast period 2024 to 2031.
Regional analysis indicates that North America currently dominates the market and is expected to continue leading due to growing health supplements industry and presence of major market players. Asia Pacific is projected to be the fastest growing region on backdrop of rising health awareness, increasing disposable incomes and expanding elderly population base.
Key players operating in the calcium lactate market are Amgen Inc., Johnson & Johnson (Janssen Pharmaceuticals), Pfizer Inc., Roche Holding AG, Novartis AG, Biocon Limited, Teva Pharmaceutical Industries Ltd., LG Chem Ltd., Sandoz International GmbH (a subsidiary of Novartis AG), Intas Pharmaceuticals Ltd., Dr. Reddy's Laboratories Ltd., Celltrion Inc., 3SBio Inc., CJ CheilJedang Corporation, BioSidus SA. These companies are focusing on new product launches, expansions and acquisitions to strengthen their market position.
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