Lactic Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global Lactic Acid Market is segmented by Source (Natural and Synthetic), By Application (Meat, Poultry and Fish, Beverage, Confectionery, Bakery, Fruits and Vegetable and Dairy) and Geography

Market Snapshot

Lactic Acid Market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.2 %

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Market Overview

Global lactic acid market is projected to grow at a CAGR of 4.2% during the forecast period.

  • Lactic acid is available in various grades depending upon its purity and its application. 
  • Lactic acid demand in the food & beverage market is growing with the emerging 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.
  • The major drivers for the lactic acid market are increased demand in food applications of lactic acid, availability of cheap raw materials, various functional properties of lactic acid and the regulatory approval by international regulations.

Scope of the Report

The market study of lactic acid is available for natural and synthetic sourced lactic acid. By application, the market is segmented as meat, poultry and fish, beverage, confectionery, bakery, fruits and vegetable, and dairy.

By Source
Natural
Synthetic
By Application
Meat, Poultry and Fish
Beverage
Confectionery
Bakery
Fruits and Vegetable
Dairy
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
United Arab Emirates
Rest of Middle East and Africa

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Key Market Trends

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 

Lactic Acid Market 1

Asia-Pacific is the Fastest Growing Market

The demand for lactic acid in the Asia- Pacific region is emerging fast with the rise in the application as the food additive. The major driver for the market is increased demand in meat and other foods applications 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, sugarcane, starch, and other carbohydrates for production has been a significant advantage for the industry as it directly lowers the final cost of the product. The key player of the lactic acid market includes Henan Jindan Lactic Acid Co., Ltd.

Lactic Acid Market 2

Competitive Landscape

Cargill, Incorporated., Corbion NV, Henan Jindan Lactic Acid Technology Co., Ltd, and DuPont de Nemour Inc., are the major players of the market. The major competitors prefer investment in new product development and marketing strategy due to volatility in commodity costs to maintain their position.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Source

      1. 5.1.1 Natural

      2. 5.1.2 Synthetic

    2. 5.2 By Application

      1. 5.2.1 Meat, Poultry and Fish

      2. 5.2.2 Beverage

      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 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Corbion NV

      2. 6.4.2 Henan Jindan Lactic Acid Technology Co., Ltd

      3. 6.4.3 Futerro SA

      4. 6.4.4 DuPont de Nemours, Inc.

      5. 6.4.5 VIGON INTERNATIONAL, INC.

      6. 6.4.6 Cargill, Incorporated

      7. 6.4.7 Cellulac

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Lactic Acid Market market is studied from 2016 - 2026.

The Lactic Acid Market is growing at a CAGR of 4.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Corbion NV, Henan Jindan Lactic Acid Technology Co., Ltd, Cargill, Incorporated, DuPont de Nemours, Inc., VIGON INTERNATIONAL, INC. are the major companies operating in Lactic Acid Market.

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