I found the below information :
Sodium Lactate is naturally derived from the fermentation of Lactic Acid. It is a clear colorless viscous liquid with a slight odor. It can be used as a natural preservative in cosmetics and personal care products such as moisturizers, cleansing products, and other skin care products, as well as in makeup, shampoos, hair dyes and colors and other hair care products. Sodium Lactate is considered to be a natural humectant (draws moisture to itself) and is frequently used as a substitute for glycerin in lotions and creams. When added to cold process soaps, it is said to harden the soap faster, add creaminess and extend its shelf life in the shower (does not melt easily). It is said to improve the appearance of the finished soap, and ease with un-molding a batch of soap.
Sodium Lactate is a combination of 60% Sodium Lactate and 40% Water.
Usage:
• Can be used in a wide variety of personal care formulation for reliable preservation.
• Soluble in water and alcohol.
• Compatible with most cosmetic raw materials.
• Recommended use levels in a finished formulation is 1 - 3%.
• It is a pH control agent.
• Compounding procedures: May be added to water phase with heat to ensure proper incorporation.