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Lactic Acid Market By Application (Food And Beverages, Pharmaceuticals, Industrial Applications, Personal Care Products) - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022

Lactic acid, produced by the fermentation of starch, is widely used as a flavor enhancer, preservative, and acidulant in food and beverages. Lactic acid also aids the starting material for polylactic acid (PLA), a biodegradable polymer.

Growing environmental concerns and rising demand for green packaging are some of the majors driving the market growth. Moreover, volatility in the prices of crude oil is another major factor contributing to market growth.

Purpose of the Report

The purpose of this strategic research study titled “Global Lactic Acid Market” is to provide company executives, industry investors, and industry participants with in-depth insights to make informed strategic decisions regarding global lactic acid market opportunities.

Target Audience

  • Industry investors
  • Raw material suppliers
  • Distributors
  • Manufacturers
  • Retailers
  • Companies who want to enter the market and companies who want to diversify their product portfolio

Overall, the research study provides a holistic view of the global lactic acid market, growth offering market size, and estimates for the period from 2015 to 2022, keeping in mind the abovementioned factors.The lactic acid market is classified into food & beverages, pharmaceuticals, industrial applications, and personal care products. The market was dominated by food and beverage applications, but growth is projected to be the fastest from the industrial application.The volatility in crude oil prices and rising demand for environment-friendly products are the major factors contributing to market growth. In addition, the rising demand for polylactic acid (PLA) is projected to fuel the market demand for lactic acid.

The fermentation of starch produces lactic acid. Homolactic fermentation produces mainly lactic acid. On the other hand, heterotactic fermentation produces a mixture of lactic acid, formic acid, acetic acid, and ethanol. The selectivity is determined by the organisms used. Industrially used bacteria comprise streptococcus thermophiles and lactobacillus acidophilus. Lactic acid has two optical isomers, L (+)-lactic acid and D (-)-lactic acid. Lactic acid is classified as GRAS (generally recognized as safe) for use as a food additive. Depending on the bacteria selection, fermentation routes to lactic acid can produce optically pure L (+) - or D (-) - lactic acid.

Currently, worldwide production of lactic acid is manufactured through the fermentation process due to the lower production cost and renewable products. L (+)-lactic acid production is commercially mature due to large multinationals globally, such as Galactic, Cargill, Purac, and Archer Daniels Midland. For the commercial production of D(-)-lactic acid, Purac has licensed technology developed by Myriant Technologies with a capacity to produce 100,000 tons annually. The plant is located in Thailand.

Lactic acid is used in a wide range of applications. It is used in food and beverages as a pH-adjusting agent and preservative. It is also used in chemicals and pharmaceutical industries as a starting material for producing lactate ester and as a solvent, among other applications. Lactic acid is an active ingredient in personal care products due to its skin lightening, moisturizing, and pH regulating properties, Polymerization of lactic acid produces a biodegradable polymer known as polylactic acid (PLA). It is used in food packaging of shrink wrap, rigid containers, short shelf life trays, rubbish bags, and mulch films.

North America is the largest market for lactic acid globally, followed by the Asia Pacific. In North America, the U.S. is the largest market for lactic acid, led by the growing demand for polylactic acid and the food and beverages segment. The European market for lactic acid is projected to grow at a moderate rate. The region relies on imports to satisfy the lactic acid demand. In Europe, Western Europe is the mature market driven by the consumption of food and beverages, and Eastern Europe offers huge growth potential. The Asia Pacific is projected to be the fastest-growing market. Due to rising demand from industrial and food and beverages applications. India, China, and Japan are the major markets for lactic acid and offer huge growth potential.  

Purac, NatureWorks LLC, Synbra, Pyramid Bioplastics, and BASF, among others, are some of the major players present in this market.

Based on geography, the global lactic acid market is segmented into the following regions

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • U.K
  • Italy
  • Russia
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
  • Rest of the World
  • Brazil
  • Rest of RoW

In 2014, North America and the Asia Pacific together accounted for more than 60% share of the pie in terms of revenue. North America is the largest market globally and is projected to grow at the second highest rate in terms of revenue from 2015 to 2022.

The Asia Pacific region is projected to witness the fastest growth rate in revenue and volume. In the Asia Pacific, China accounted for the largest share. Europe and RoW are projected to witness moderate growth rates. Economies such as Thailand, other Asian countries, and Eastern Europe offers huge untapped market opportunities.

Frequently Asked Questions :

The market for Lactic Acid is expected to reach US$ XX Bn in 2022.

The Lactic Acid market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2015-2022.

The base year of this report is 2021.

Purac, NatureWorks LLC, Synbra, Pyramid Bioplastics, and BASF are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Mar 2016
Category:  Chemicals
Report ID:   57759
Report Format:   PDF
Pages:   120
Rating:    4.4 (40)
Delivery Time: 24 Hours to 48 Hours   
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