Sodium Lactate

The global lactates market is witnessing significant growth, driven by the rising demand for these salts across various sectors such as food, beverages, pharmaceuticals, and personal care products. Lactates, which are salts of lactic acid, are widely used for their preservative, mineral supplementation, and antimicrobial properties. NEWARK, DE / ACCESSWIRE / November 27, 2024 / According to a Future Market Insights (FMI), the global lactate market is expected to experience significant growth, with its valuation projected to increase from USD 591.3 Million in 2024 to an impressive USD 1,251.3 Million by 2034. This reflects a compound annual growth rate (CAGR) of 7.8% over the forecast period, driven by rising demand for sustainable and environmentally friendly chemicals across multiple industries.Lactates, organic salts derived from lactic acid, are gaining traction due to their biodegradable and non-toxic nature. Widely used in food and beverage, pharmaceutical, cosmetic, and industrial applications, lactates are being embraced as safe and eco-conscious alternatives to conventional chemicals. As global industries prioritize sustainability, the lactate market is positioned to capitalize on these shifting dynamics.Sodium lactate is a preservative which high water retention and buffering properties, it is a preferred ingredient in food processing and personal care formulations. Safety and effectiveness in extending shelf life is making it a key component. Magnesium lactate, valued for its superior bioavailability and neutral taste, it is increasingly getting used in food supplements, beverages, and pharmaceuticals.Zinc lactate is known for its antimicrobial properties and is predominantly used in dental care products like toothpaste and mouthwash. It has ability to obstruct dental plaque formation when combined with better bioavailability and taste compared to inorganic zinc salts. Industry Dynamics:The lactate market is thriving in response to increasing regulatory pressure to adopt sustainable and environmentally benign chemicals. Governments and environmental organizations worldwide are advocating for the replacement of harmful chemical compounds with eco-friendly solutions, fueling the adoption of lactates. Additionally, growing consumer awareness of product safety and environmental impact is driving demand for lactates in food preservation, skincare, and personal care ingredient formulations.The pharmaceutical and healthcare sectors are also significantly contributing to market growth. The rising need for safe and effective excipients in drug formulations is bolstering the adoption of lactates. Furthermore, the industrial sector's transition towards greener alternatives in cleaning agents and de-icing solutions is augmenting the demand for lactate-based products.Key Industry HighlightsIncreasing Use of Lactates in Personal Care and Cosmetics IndustryThe growing demand of lactates in the personal care and cosmetics industries is driven by their multifunctional benefits, particularly in the area of skin care, hair care, and soap formulations. Sodium lactate, is valued for its moisturizing and humectant properties which is making it a key ingredient in products which are designed to enhance skin hydration and elasticity.In skincare products there is increasing use of sodium lactate in products aimed at treating dryness, eczema, and psoriasis. Its role as a pH adjustor and buffering agent further stabilizes formulations, improving product efficacy and shelf life.Lactates are also getting used in essential in hair care, deodorants, and fragrances, where their ability to attract and retain moisture enhances overall performance. The demand for lactates in formulations is set to rise as consumers prioritize hydration, preservation, and sustainability in their beauty routines.Legal Status of Lactates in Food, Supplements, and CosmeticsThe regulatory framework surrounding lactates such as magnesium, zinc, and sodium lactates varies globally, particularly in food, supplements, and cosmetics. In Europe, magnesium lactate is permitted in food supplements under Directive 2002/46/EC and listed in the positive list of Regulation (EC) No. 1925/2006 on food fortification.It is also recognized in Regulation (EC) No. 609/2013 and Directive (EC) No. 2006/141 for food intended for infants and medical purposes. In the USA, magnesium lactate is self-affirmed GRAS (Generally Recognized As Safe) and permitted in food fortification, adhering to the FDA's guidelines with an allowable concentration of up to 20% of the daily value (DV) for magnesium.It is also listed in the Codex Alimentarius as a permitted food additive for general food use following Good Manufacturing Practice (GMP) standards.Zinc lactate have acceptance in Europe. It is listed under Regulation (EC) No. 1925/2006 for food fortification and Directive 2002/46/EC for use in food supplements. Zinc lactate is permitted in food for infants and young children under Regulation (EC) No. 609/2013 and Directive (EC) No. 2006/141.Moreover, in cosmetics, zinc lactate is classified under Annex III of the Cosmetic Directive as a water-soluble zinc compound, with a maximum authorized concentration of 1%.Sodium lactate is widely used as a food additive under the quantum satis principle in Europe, which allows its addition to foodstuffs without specific quantity limits unless otherwise restricted. It is classified as a generally permitted additive (E325).In the USA, sodium lactate is affirmed GRAS by the FDA for multiple uses in food as an emulsifier, flavor enhancer, humectant, and pH control agent.. These comprehensive legal frameworks highlight lactates' broad acceptance across regions and industries, ensuring their safety and efficacy in food, supplements, and cosmetic applications.Factors Driving Sales of Lactate:Sustainability Initiatives: Increasing preference for biodegradable and renewable chemicals is a primary driver of lactate demand. Companies are leveraging lactates for their minimal environmental footprint and broad functionality.Expanding Application Areas: Lactates are becoming essential in diverse sectors such as food preservation, where they enhance shelf life without compromising safety, and in cosmetics, where they serve as natural moisturizers and exfoliants.Regulatory Push: Strict environmental policies in regions such as North America and Europe are accelerating the transition to lactates as replacements for synthetic chemicals.Health and Wellness Trends: Consumer focus on health, safety, and sustainability has led to increased use of lactates in clean-label and natural product formulations.Demand Analysis of Lactate:The food and beverage industry remains the largest consumer of lactates, accounting for a significant share of global sales. Their role in food safety and shelf life extension is critical in meeting the growing demand for minimally processed and preservative-free food products.In the pharmaceutical sector, lactates are valued for their efficacy as pH regulators and stabilizers in a wide range of medications. Meanwhile, the cosmetics industry is experiencing heightened demand for lactate-based products due to their skin-friendly properties and alignment with the clean beauty trend.Emerging applications in the industrial and agricultural sectors also underscore the potential for lactate market expansion. As industries innovate to meet sustainability goals, lactates are expected to play a key role in eco-friendly solutions.Key Takeaways from the Report:The global lactate market is projected to grow at a CAGR of 7.8% from 2024 to 2034, driven by increasing adoption in sustainable applications.Japan is anticipated to exhibit the highest growth rate at 8.9%, followed by China (8.5%) and India (8%).The United States continues to hold a dominant share of the market, with a robust CAGR of 7.7%.The food and beverage sector remains the largest end-user of lactates, while the pharmaceutical and cosmetics industries are emerging as lucrative growth areas.Technological advancements in lactate production are reducing costs and improving product quality, further boosting market growth."The lactate market is at the forefront of a global transition towards sustainable and eco-friendly solutions. With its diverse applications across food, pharmaceuticals, cosmetics, and industrial sectors, lactate has positioned itself as a cornerstone in the green chemistry movement" - opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).Future Outlook:The lactate market is on a strong growth trajectory, fueled by its versatile applications and alignment with global sustainability goals. As industries continue to prioritize eco-conscious solutions, the demand for lactates is expected to surge across key regions and sectors.For further insights into the lactate market, including detailed industry forecasts and competitive analysis, please visit:https://www.futuremarketinsights.com/reports/lactates-marketGrowing Use of Lactates in the Food and Beverages IndustryLactates are increasingly becoming essential ingredients in the food and beverages industry due to their functional properties that they have such as preservation, mineral fortification, and flavor enhancement.In processed foods, lactates like sodium and potassium lactates act as natural preservatives, extending shelf life by inhibiting microbial growth. This is particularly beneficial in meat, seafood, and ready meals, where maintaining freshness is crucial.In the beverages sector, magnesium and calcium lactates are preferred in fortified sports drinks, juices, and dairy alternatives due to their high bioavailability and neutral taste. The beverage industry, valued at over USD 1.5 trillion, increasingly seeks out lactates for electrolyte replenishment in sports and energy drinks, while lactates are also used as flavor enhancers in carbonated soft drinks and teas.Growing trend towards healthier, fortified, and plant-based foods, lactates are playing a crucial role in improving nutritional content without compromising flavor. Their versatility across both food and beverage formulations makes them a vital component in addressing consumer demand for clean-label, high-quality products.Regional Analysis:Asia-Pacific is leading the global lactate market in terms of growth, with countries like Japan, China, and India driving the surge. Japan, with its strong emphasis on innovation and stringent environmental policies, is expected to achieve the highest CAGR of 8.9% during the forecast period. China follows closely with an 8.5% CAGR, supported by its expanding industrial base and government focus on sustainable manufacturing practices. India's robust growth at 8% reflects its increasing investments in the pharmaceutical and food processing sectors.North America and Europe remain significant markets due to strict regulatory frameworks promoting sustainable alternatives. The United States, with a projected CAGR of 7.7%, is a key player, fueled by advancements in clean-label product development and consumer demand for sustainable solutions.In contrast, Latin America and the Middle East & Africa are emerging markets, showing steady growth due to increasing industrialization and rising awareness about eco-friendly solutions.Key Players Operating in the Industry:Corbion N.VHenan Jindan Lactic Acid Technology Co.,LtdStepan CompanyGalacticMerck KGaAGODAVARI BIOREFINERIES LTDYancheng Huade Biological Engineering Co., Ltd.Musashino Chemical Laboratory,LtdCellulacVertec BioSolvents Inc.Sankyo Chemical Co., Ltd.Junsei Chemical Co., Ltd.Lactate Market Segmentation Analysis:By Product Type:Ethyl LactateMethyl LactateButyl LactateOther Product TypesBy Application:ElectronicsPaints and InksAgrochemicalsPharmaceuticalsFood and BeveragesOther ApplicationsBy Region:North AmericaLatin AmericaWestern EuropeSouth Asia and PacificEast AsiaMiddle East and AfricaAuthor:Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.Explore Future Market Insights, Inc. Extensive Coverage in Chemicals & Materials Domain:Global sales of acrylic acid are expected to grow at a CAGR of 4.3% from 2024 to 2034, increasing from USD 11,983 Million in 2024 to USD 18,203.4 Million by 2034.The global paraffin wax industry is predicted to exceed USD 18253.6 Million in 2034.The global trichloroisocyanuric acid market share is estimated to reach USD 2,141.1 Million in 2024 and is projected to grow to USD 3,622.8 Million by 2034.The global organic fertilizer market valuation to surpass USD 15,994.2 Million in 2034.The agricultural lubricant market size is projected to be valued at USD 507.4 Million in 2024, with a growth rate of 5.5% CAGR expected from 2024 to 2034.The global polycarbonate sheet industry to be valued at USD 3415 Million in 2034.The global specialty silica market revenue is estimated to surpass USD 7,809.7 Million in 2024 and is expected to grow to USD 13,214.3 Million by 2034.The global polyvinyl chloride demand to expand at a CAGR of 3.6% from 2024 to 2034.Driven by a CAGR of 5.8% from 2024 to 2034, the demand for oleic acid is projected to reach USD 1,126.3 Million by 2034.The global asphalt shingle market share is estimated to reach USD 13340.1 Million in 2034.About Future Market Insights (FMI):Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.Contact Us:Future Market Insights Inc.Christiana Corporate, 200 Continental Drive,Suite 401, Newark, Delaware - 19713, USAT: +1-347-918-3531For Sales Enquiries: [email protected]Website: https://www.futuremarketinsights.comLinkedIn| Twitter| Blogs | YouTubeSOURCE: Future Market Insights, Inc.

— Improved loss from operations by 31% — — Acquired SOLOSEC, a commercially attractive, single-dose oral antibiotic FDA-approved to treat two pervasive sexual health infections — — Forged commercial agreement for Phexxi in Middle East — SAN DIEGO, Nov. 14, 2024 /PRNewswire/ -- Women's health innovator Evofem Biosciences, Inc. ("Evofem" or "the Company") (OTCQB: EVFM) today announced financial results for the third quarter and nine-month period ended September 30, 2024. Highlights include: Acquired global rights to SOLOSEC® (secnidazole) 2g oral granules, a single-dose oral antibiotic FDA approved to treat bacterial vaginosis and trichomoniasis, two common sexual health infections. Licensed Phexxi® (lactic acid, citric acid and potassium bitartrate) commercial rights in the Middle East to Emirati pharmaceutical company Pharma 1 Drug Store. The regulatory submission for the hormone-free contraceptive is on track for submission to the UAE Ministry of Health by year-end 2024. Launched a Market Development Collaboration with Pearsanta focused on its blood-based diagnostic test for endometriosis, a chronic disease associated with severe, life-impacting pain that affects approximately one in ten women of reproductive age. Improved loss from operations to $2.4 million for the third quarter of 2024, versus a loss from operations of $3.6 million in the prior year quarter. Aditxt, Inc. (Nasdaq: ADTX) has invested $5.0 million in Evofem since May 2024, including $1.3 million from the sale of Series F-1 Preferred Stock to Aditxt in the third quarter of 2024 and $2.7 million in October 2024. These investments were stipulated in the Amended and Restated Merger Agreement, as amended (the "A&R Merger Agreement"), between the companies. On November 8, 2024, Evofem remedied its prior bid price deficiency and regained compliance with the OTCQB Standards for Continued Eligibility. "We continue to advance Evofem's strategy to grow revenues organically and through strategic acquisitions and alliances," said Saundra Pelletier, CEO of Evofem Biosciences. "In the third quarter we closed several business development transactions that we expect will diversify and strengthen our revenue streams. We acquired and recently relaunched SOLOSEC as the only single-dose oral treatment FDA-approved for both bacterial vaginosis and trichomoniasis. We also forged an agreement that paves the way for the commercialization of Phexxi in the GCC, starting with the UAE. In addition, we launched a market development collaboration with Pearsanta, a subsidiary of Aditxt, for its endometriosis diagnostic. Further post-merger support from Aditxt and its ecosystem should help catalyze our growth trajectory and our ability to execute our mission to improve women's lives through diversified and differentiated diagnostic, preventive, and therapeutic offerings." Financial Results For the three months ended September 30, 2024, net product sales were $4.5 million compared to $5.1 million in the prior year period. The 12% decrease primarily reflects lower unit sales in the current period due to the impact of the continued absence of marketing, partially offset by the Phexxi WAC increase in January 2024 and a slight decrease in variable consideration. Total operating expenses were $6.9 million, a decrease of 20% compared to the prior year period. Selling and marketing costs were $2.4 million, a decrease of 20% compared to the prior year quarter. General and administrative costs were $3.1 million, a decrease of 4% compared to the prior year quarter. Research and development costs were $0.3 million, a decrease of 46% compared to the prior year quarter. Cost of goods sold (COGS) were $0.9 million, a 54% decrease compared to the prior year period primarily due to the lower product sales and the absence of re-packaging costs in the current year quarter. As a result, operating loss improved to $2.4 million for the third quarter of 2024 as compared to an operating loss of $3.6 million in the third quarter of 2023. Factoring in a $0.1 million gain in other income, net loss attributable to common stockholders was $2.4 million, or a loss of $0.02 per share, for the three months ended September 30, 2024. This compares to net income attributable to common shareholders of $66.0 million, or $15.34 per share, for the prior year quarter, which reflects a $75.3 million gain related to the Baker Fourth Amendment, which was treated as a debt extinguishment, offset in part by a $5.3 million loss on the quarterly valuation of the senior subordinated convertible notes and purchase rights and warrant modifications, and $0.5 million of interest expense related to the Adjuvant Note. Liquidity In the third quarter of 2024, Evofem raised $1.3 million in aggregate net proceeds through the sale and issuance of 1,260 shares of Series F-1 Convertible Preferred Stock to Aditxt pursuant to the A&R Merger Agreement. At September 30, 2024, the Company had $0.7 million of restricted cash, as compared to $0.6 million of restricted cash at December 31, 2023. In October 2024, Evofem raised $2.7 million in aggregate net proceeds through the sale and issuance of 2,740 shares of Series F-1 Convertible Preferred Stock to Aditxt pursuant to the A&R Merger Agreement. Evofem used a portion of this funding to pay in full its obligations to the U.S. Food and Drug Administration. About Evofem Biosciences Evofem Biosciences, Inc., is commercializing innovative products to address unmet needs in women's sexual and reproductive health. The Company's first FDA-approved product, Phexxi® (lactic acid, citric acid and potassium bitartrate), is a hormone-free, on-demand prescription contraceptive vaginal gel. It comes in a box of 12 pre-filled applicators and is applied 0-60 minutes before each act of sex. In July 2024 Evofem broadened its commercial offering with the acquisition of SOLOSEC® (secnidazole) 2g oral granules, an FDA-approved oral antibiotic for the treatment of two sexual health diseases: bacterial vaginosis (BV), a common vaginal infection, in females 12 years of age and older, and trichomoniasis, a common sexually transmitted infection (STI), in people 12 years of age and older. SOLOSEC provides a complete course of therapy in just one dose. In December 2023, Evofem entered into a Merger Agreement with Aditxt, Inc. (Nasdaq: ADTX) under which Aditxt's subsidiary Adifem, Inc. is expected to merge with and into Evofem, with Evofem remaining as the surviving entity and a wholly owned subsidiary of Aditxt. The companies amended and restated the Merger Agreement, as amended (the "A&R Merger Agreement"), in its entirety in July 2024. The A&R Merger Agreement was subsequently amended in August, September, and October 2024, primarily to adjust investment dates. The closing of the transactions is subject to several conditions, including approval of the transactions by a majority of the combined voting power of Evofem's E-1 and Common Stock, voting together as a single class, at a meeting where quorum is present, and Aditxt raising sufficient capital to fund its obligations prior to and at closing. Follow us on: LinkedIn: Facebook: X (f/k/a Twitter): Phexxi® and SOLOSEC® are registered trademarks of Evofem Biosciences, Inc. Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the safe harbor for forward-looking statements provided by Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 including, without limitation, statements related to the Company's anticipated financial performance, expected timing of the regulatory submission to the UAE Ministry of Health, and the likelihood of success and anticipated timing to close the contemplated Aditxt transaction. You are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Important factors that could cause actual results to differ materially from those discussed or implied in the forward-looking statements are disclosed in the Company's SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 27, 2024, Quarterly Report on Form 10-Q for the three months ended March 31, 2024 filed with the SEC on May 12, 2024, Quarterly Report on Form 10-Q for the three and six months ended June 30, 2024 filed with the SEC on August 14, 2024, and any subsequent filings. All forward-looking statements are expressly qualified in their entirety by such factors. The Company does not undertake any duty to update any forward-looking statement except as required by law. Contact Amy Raskopf Evofem Biosciences, Inc. [email protected] (917) 673-5775 [email protected] -- Financial Tables Follow – SOURCE Evofem Biosciences, Inc. 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