Global Lactic Acid Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027

Price: 3600/- USD | Published Date: September 12, 2020 |

The global lactic acid market size was accounted at around USD 3 billion and projected to grow at the CAGR of 17.6% market during 2020-2027. Lactic acid is widely used as a flavor enhancer, preservative, and acidulant in food and beverages. Lactic acid also aids as a starting material for polylactic acid (PLA), a biodegradable polymer. Growing environmental concerns and rising demand for green packaging are some of the majors driving market growth. Moreover, volatility in the prices of crude oil is another major factor contributing to market growth.

Market Insights:

Lactic acid is used in a wide range of applications. It is used in the food and beverage sector as a pH adjusting agent and preservative. It is also used in chemicals and pharmaceutical 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, moisturizing, and pH regulating properties is used as an active ingredient in personal care products. 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 from polylactic acid and food and beverages segment. The European market for lactic acid is projected to grow at a moderate growth rate.

Market Segment Insights:

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

Global Lactic Acid Market Segmentation:

By Application, 2018–2027 (Kilo Tons and $ Millon)

  • Food & Beverages
  • Pharmaceuticals
  • Industrial applications
  • Personal Care Products

By Geography, 2018-2027 ($ Millon)

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

Regional Insights:

In 2016, by region, 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 a second-highest rate in terms of revenue from 2017 to 2025. Asia Pacific region is projected to witness the fastest growth rate in terms of revenue and volume. In, Asia Pacific, China accounted for the largest share. Europe and RoW are projected to witness a moderate growth rate. Economies such as Thailand, other Asian countries and Eastern Europe offers huge untapped market opportunities.

Market Competition Assessment:

The major players currently operating in the global lactic acid market include BASF, Jungbunzlauer, NatureWorks LLC, Archer Daniels Midland Company, Galactic S.A, Synbra Technology B.V., The DOW Chemical Company, Corbion N.V., Teijin Ltd, and Plaxica.

List of Key Companies:

  • Archer Daniels Midland Company
  • BASF
  • Corbion N.V.
  • Galactic S.A
  • Jungbunzlauer
  • NatureWorks LLC
  • Plaxica
  • Synbra Technology B.V.
  • Teijin Ltd
  • The DOW Chemical Company

Key Questions Answered by Lactic Acid Market Report

  • Global lactic acid market forecasts from 2020-2027
  • Regional lactic acid market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East, and Africa, and Latin America
  • Country-level forecasts from 2020-2027 covering 15 major countries from the aforementioned regions
  • Lactic Acid submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
  • Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to the lactic acid market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level lactic acid markets from 2020-2027
  • Competitive Landscape and market positioning of top 10 players operating in the lactic acid market

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Table of Content:

Chapter 1 Preface

1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions

Chapter 2 Executive Summary

2.1 Lactic Acid Market Portraiture
2.2 Lactic Acid Market, by Application, 2016 (Kilo Tons and $ Million)
2.3 Lactic Acid Market, by Geography, 2016 (Value %)

Chapter 3 Global Lactic Acid Market Analysis

3.1 Global Lactic Acid Market Overview
3.2 Prevalence of Lactic Acid
3.3 Market Dynamics
3.3.1 Market Drivers Increasing demand for lactic acid as pH regulator and preservative for food & beverages sector
3.3.2 Challenges Technological development for glucose fermentation has minimized manufacturing cost resulting in lowering lactic acid and PLA market price trend
3.3.3 Opportunities
3.4 Attractive Investment Proposition
3.5 Competitive Analysis: Global Lactic Acid Market, 2015 (Value %)

Chapter 4 Global Lactic Acid Market, by Application, 2015-2025 (Kilo Tons and $ Million)

4.1 Preface
4.2 Food & Beverages
4.3 Pharmaceuticals
4.4 Industrial applications
4.5 Personal Care Products

Chapter 5 Global Lactic Acid Market, by Geography, 2015-2025 ($ Million)

5.1 Preface
5.1 North America (U.S. & Canada)
5.2 Europe (U.K., Germany & Rest of Europe)
5.3 Asia Pacific (China, Japan, Singapore, South Korea and Rest of APAC)
5.4 Latin America (Mexico, Brazil and Rest of LATAM)
5.5 Middle East and Africa

Chapter 6 Company Profiles

6.1 Archer Daniels Midland Company
6.2 BASF
6.3 Corbion N.V.
6.4 Galactic S.A
6.5 Jungbunzlauer
6.6 NatureWorks LLC
6.7 Plaxica
6.8 Synbra Technology B.V.
6.9 Teijin Ltd
6.10 The DOW Chemical Company
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