Lactic Acid Market Top Companies, Industry Share, trends and Forecast 2025
Global Lactic Acid Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- Increasing demand for anti-ageing and pimple cures, rising demand from packaging industry to make PLA plastics, growing pressure to follow environmental norms and increasing application of lactic acid in food and beverage industry are the major factors for driving the growth of Global Lactic Acid Market.
Global Lactic Acid Market is valued at 2.66 USD Billionin 2018 and expected to reach 10.45 USD Billion by 2025 with the CAGR of 18.68% over the forecast period.
Scope of Global Lactic Acid Market Report-
Lactic acid is a kind ofan acid that is usually found in yogurt and that is also produced in muscle tissue when people exercise. It is usually colorless or light yellow. It can also be prepared by fermentation of molasses, potatoes, corn starch and other starches. It can be synthesized and processed naturally. Itis widely used in food and beverage, personal care, industry, polylactic acid and other fields. Because itis biocompatible and biodegradable in nature, itis also used as labels and packaging materials.
Lactic acid is produced using different raw materials, such as corn, sugar cane and cassava. Due to lower production costs and increased consumer awareness of bio-based products, most lactic acid is produced by fermentation processes. The main raw material suppliers are Archer Daniels Midland, Louis Dreyfus, Monsanto and Syngenta. Most lactic acid is produced from corn. This can be attributed to cheap and abundant availability. In addition, the limited supply of petrochemical raw materials could increase demand in this segment during the forecast period.
The regions covered in this Lactic Acid market report are North America, Europe, Asia Pacific and rest of the World. On the basis of country level, market ofLactic Acid is subdivided into U.S., Mexico, Canada, U.K., Germany, France, Italy, China, Japan, South East Asia, Africa, etc.
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Key Players Lactic Acid Market Report-
Lactic Acid Market report covers major key players in the market like Corbion, Palsgaard A/S, Futerro, NatureWorks LLC, Archer Daniels Midland Company, Sigma-Aldrich Co. LLC, Galactic SA, Henan Jindan Lactic Acid Technology Co. Ltd., Synbra Technology BV and others.
News-
Corbion dives into natural food preservation and lactic acid
March12th, 2020; A global lactic acid producer and leader, Corbion, shifts its focus from co-packing blending and frozen dough businesses to preservation of natural food and lactic acid. The company is now investing to establish three units, sustainable food solutions, functional systems, lactic acid and specialties, and incubator. Corbion has envisioned a better business portfolio by capitalizing on its strengths and growth areas, whereas seeking an exit from the low profit segments. This shift will help in shifting the company’s operations from being an ingredients firm to being a solutions firm, aligning its business model with the norms of United Nation’s Sustainable Development Goals.
North America is expected to remaina dominant region in the Global Lactic Acid Market.
North America is the dominant region in the market with the largest share of the global Lactic Acid market, due to large demand from food industry and non-food applications inclusive of textile industry, cosmetic industry and packaging industry and large purchase of processed and functional food. There is a growing trend in the countries of North American region for bio-based beauty products, which requires antimicrobial properties of lactic acid, that boosts its growth in the market and establishes its dominance. US is home to the world’s second largest Lactic Acid plant Cargill, in a joint venture with PTT Public Company with figures between 100000 to 200000 metric tons.
Key Benefits of Global Lactic Acid Market Report-
· Global market report covers in depth historical and forecast analysis.
· Global market research report provides detailed information about Market Introduction, Market Summary, Global Market Revenue (USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country level.
· Global market report helps to identify opportunities in market place.
· Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Lactic Acid Market Segmentation: -
By Source:
· Natural
· Semi-synthetic
· Synthetic
By Raw Material:
· Corn
· Cassava
· Sugarcane
By End User:
· Pharmaceuticals
· Industrial
· Food & beverages
· Personal care
· Polylactic acid
· Cosmetics
· Biodegradable polymers
By Regional Analysis:
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
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