Asia-Pacific Lactic Acid Market | Growth | Trends

ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the report
- Key Market Trends
- Competitive Landscape
- Major Players
TABLE OF CONTENTS

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

CAGR:

8.7 %

Major Players:

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Market Overview

Asia-Pacific Lactic Acid Market is anticipated to witness a CAGR of 8.7% over the forecast period of 2020-2025.

Demand for Lactic Acid in the Food & Beverage industry is growing with the emergence of new technology and the growing demand in applications. Due to various functional properties of lactic acid, it is used as a key ingredient in food & beverage products.
Lactic acid is commercially available in various grades depending upon its purity. China and Japan are the major markets for lactic acid in the region. China is the largest exporter and producer of lactic acid in the Asian market and the second largest exporter worldwide.

Scope of the report

Asia-Pacific Lactic Acid Market is segmented by Source and by Application. On the basis of source, the market is segmented into Natural and Synthetic. On the basis of application, the market is segmented into Meat, Poultry and Fish, Beverages, Confectionery, Bakery, Fruits and Vegetables, and Dairy. The market is also segmented by geography.

Source
		Natural
		Synthetic

Application
		Meat, Poultry and Fish
		Beverages
		Confectionery
		Bakery
		Fruits and Vegetable
		Dairy

Geography
		China
		Japan
		India
		Australia
		Rest of Asia-Pacific

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Key Market Trends

Growing Demand for Meat Products

The major driver for the Asia-Pacific lactic acid market is the increase in demand for meat and other food application of lactic acid availability of cheap raw materials, innovation in technology, and strong support of big manufacturing companies in the region. The low cost of raw materials such as molasses, starch, sugarcane, and other carbohydrates for production has been a big advantage for industries, as it directly lowers the final cost of the product. Also, these raw materials are abundant and easily available in the domestic regions for production, which is driving the market.

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High Demand for Food Acidulants

Owing to various functional properties of lactic acid, it is used as a key ingredient in food & beverage products. Lactic acid has its wide scope of application in the food and beverage industry coupled with the range of functional benefits provided by food acidulants are key factors driving the food acidulants market globally. In addition, the robust growth in the food and beverage sector majorly supports the market worldwide. With the economic development along with changing consumer behavior in Asia-Pacific, the region outshines as a promising market for food and beverage industry supplementing the consumption of food acidulants. Lactic acid also has its wide application in the preservative market

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Competitive Landscape

The major competitors prefer investment in new product development, widening the application market, and marketing strategy due to volatility in commodity costs to maintain their position. Henan Jindan is the largest producer and exporter of lactic acid in China and in the region. The company uses the new membrane technology for the separation and purification process of lactic acid, which aids in the efficiency of production and reduces energy consumption. Some of the major players in the Asia-Pacific lactic acid market are Corbion NV, Henan Jindan Lactic Acid Technology Co., Ltd, NingXia Hypow Bio-Technology Co., Ltd, Cellulac, Galactic among others.

Major Players

1. INTRODUCTION
1. 1.1 Study Assumptions & Market Definition
2. 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
1. 3.1 Market Overview
4. MARKET DYNAMICS
1. 4.1 Market Drivers
2. 4.2 Market Restraints
3. 4.3 Porter's Five Force Analysis
  1. 4.3.1 Bargaining Power of Suppliers
  2. 4.3.2 Bargaining Power of Buyers/Consumers
  3. 4.3.3 Threat of New Entrants
  4. 4.3.4 Threat of Substitute Products
  5. 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
1. 5.1 Source
  1. 5.1.1 Natural
  2. 5.1.2 Synthetic
2. 5.2 Application
  1. 5.2.1 Meat, Poultry and Fish
  2. 5.2.2 Beverages
  3. 5.2.3 Confectionery
  4. 5.2.4 Bakery
  5. 5.2.5 Fruits and Vegetable
  6. 5.2.6 Dairy
3. 5.3 Geography
  1. 5.3.1 China
  2. 5.3.2 Japan
  3. 5.3.3 India
  4. 5.3.4 Australia
  5. 5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
1. 6.1 Most Adopted Strategies
2. 6.2 Market Share Analysis
3. 6.3 Company Profiles
  1. 6.3.1 Corbion NV
  2. 6.3.2 Henan Jindan Lactic Acid Technology Co., Ltd
  3. 6.3.3 NingXia Hypow Bio-Technology Co., Ltd
  4. 6.3.4 Cellulac
  5. 6.3.5 Galactic
  6. 6.3.6 DuPont
  7. 6.3.7 Cargill, Inc.
  8. 6.3.8 Purac
7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability