South America Lactic Acid Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Lactic Acid Market Analysis
South America Lactic Acid Market is projected to register a CAGR of 7.4%, during the forecast period, 2020 - 2025.
- Natural lactic acid has been the most in-demand type of lactic acid in the market. Its
use as a preservative has been well known for ages. With the trending concept
of natural, bio-preservatives are gaining momentum. - The distinct role of lactic acid within the confectionery segment has been a driving factor for the lactic acid market, which can otherwise be replaced by other organic acids.
South America Lactic Acid Market Trends
This section covers the major market trends shaping the South America Lactic Acid Market according to our research experts:
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 in South America. 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 South America, the region outshines as a promising market for the food and beverage industry supplementing the consumption of food acidulants.
Brazil holds a Prominent Share in the Market Studied
The current dynamics of the Brazilian lactic acid market is expected to earn a major regional share in the lactic acid market. Owing to the increased scenario of production industries in Brazil region and usage of lactic acid as an ingredient to tailor products strictly in accordance with the consumer needs is providing a handsome opportunity in the market. Brazil has the third-largest dairy herd in the world behind the European Union and India. Tailoring of the many dairy-free or vegan foods in the region requires the usage of lactic acid, which is propelling the growth of the market. Increased usage in dairy products, such as ice cream and cheese is driving the growth of the lactic acid market in the South America region.
South America Lactic Acid Industry Overview
The major competitors in the South American lactic acid market prefer investment in new product development, widening the application market, and marketing strategy due to volatility in commodity costs to maintain their position. The company targeting less energy consumption and lowering the production cost as a competitive strategy in the market. Some of the major players in the market studied are Corbion NV, Cargill, Incorporated, Cellulac, Galactic among others.
South America Lactic Acid Market Leaders
Corbion NV
Henan Jindan Lactic Acid Co., Ltd.
Cargill, Incorporated
Galactic
*Disclaimer: Major Players sorted in no particular order
South America Lactic Acid Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables & Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Source
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5.1.1 Natural
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5.1.2 Synthetic
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5.2 By Application
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5.2.1 Bakery
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5.2.2 Confectionery
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5.2.3 Meat, Poultry and Seafood
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5.2.4 Dairy Product
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5.2.5 Beverage
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5.2.6 Fruits and Vegetable
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5.2.7 Others
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5.3 By Geography
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5.3.1 Brazil
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5.3.2 Columbia
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5.3.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Corbion NV
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6.3.2 Cargill, Incorporated
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6.3.3 Cellulac plc
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6.3.4 Galactic
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6.3.5 Henan Jindan Lactic Acid Co., Ltd.
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6.3.6 Foodchem International Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South America Lactic Acid Industry Segmentation
South America Lactic Acid Market is segmented by source, application, and geography. On the basis of source, the market is segmented by natural and synthetic. On the basis of application, the market is segmented into bakery, confectionery, meat, poultry and seafood, dairy product, beverages, fruits and vegetables, and others. Based on geography, the report provides a regional analysis, which includes Brazil, Columbia, and the rest of South America.
| By Source | |
| Natural | |
| Synthetic |
| By Application | |
| Bakery | |
| Confectionery | |
| Meat, Poultry and Seafood | |
| Dairy Product | |
| Beverage | |
| Fruits and Vegetable | |
| Others |
| By Geography | |
| Brazil | |
| Columbia | |
| Rest of South America |
South America Lactic Acid Market Research FAQs
What is the current South America Lactic Acid Market size?
The South America Lactic Acid Market is projected to register a CAGR of 7.40% during the forecast period (2024-2029)
Who are the key players in South America Lactic Acid Market?
Corbion NV, Henan Jindan Lactic Acid Co., Ltd., Cargill, Incorporated and Galactic are the major companies operating in the South America Lactic Acid Market.
What years does this South America Lactic Acid Market cover?
The report covers the South America Lactic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Lactic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Lactic Acid Industry Report
Statistics for the 2024 South America Lactic Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Lactic Acid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
