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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 which is produced by the fermentation of starch is widely used as flavour enhancer, preservatives 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 the prices of crude oil is another major factor contributing towards market growth.

Lactic Acid Market 

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 enable them make informed strategic decisions regarding the opportunities in the global lactic acid market.

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

USP and Key Offerings

This report analyses the worldwide markets for lactic acid in USD million & Kilo Tons by the following application types – food & beverages, pharmaceuticals, industrial applications and personal care products. The report provides separate comprehensive analytics for the North America, Europe, Asia-Pacific and Rest of World (RoW). Annual estimates and forecasts are provided for the period 2014 through 2022 and market growth rate is calculated from 2015 to 2022. Market data and analytics are derived from primary and secondary research. We have considered demand side approach of the market. Competitive analysis is primarily based on public domain information including company URLs and company annual report.

Other in-depth analyses provided in the report include:

  • Current and future market trends to justify the forthcoming attractive markets within lactic acid market
  • Market drivers, market restraints, and their impact on the market growth
  • In-depth competitive analysis of players present in the market
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global lactic acid market, of growth offering market size and estimates for the period from 2015 to 2022, keeping in mind the above mentioned factors.

On the basis of applications, the lactic acid market is classified into food & beverages, pharmaceuticals, industrial applications and personal care products. The market was dominated by food and beverages application but growth is projected to the fastest from the industrial application.

 

Lactic Acid Market

The volatility in the prices of crude oil and rising demand for environment friendly products are the major factors contributing towards the market growth. In addition, rising demand of polylactic acid (PLA) is projected to fuel the market demand for lactic acid.

On the basis of geography, the global lactic acid market is segmented into 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, by region, North America and 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 a second highest rate in terms of revenue from 2015 to 2022.

 

Lactic Acid Market 

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

Lactic acid is produced by the fermentation of starch. Homolactic fermentation produces mainly lactic acid on the other hand hetrolactic fermentation produces a mixture of lactic acid, formic acid, acetic acid and ethanol. The selectively is determined by the organisms used. Industrially used bacteria comprise of streptococcus thermophiles and lactobacillus acidophilus. Lactic acid have 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.

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

Lactic acid is used in wide range of applications. It is used in food and beverages sector as a pH adjusting agent and as a preservative. It is also used in chemicals and pharmaceuticals industries as a starting material for the production of lactate ester, as a solvent among various other applications. Lactic acid due to its skin lightening, moisturising and pH regulating properties is used as an active ingredient in personal care products. Polymerisation 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 Asia Pacific. In North America, the U.S. is the largest market for lactic acid led by the growing demand from polylactic acid and food and beverages segment. European market for lactic acid is projected to grow at a moderate growth rate. The region rely on imports to satisfy the lactic acid demand. At present, in Europe, Western Europe is the mature market driven by consumption in food and beverages and Eastern Europe offers huge growth potential. 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 offers huge growth potential.  

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

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Published Date:  Mar 2016
Category:  Chemicals
Report ID:   57759
Report Format:   PDF
Pages:   120
Rating:    4.1 (40)
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