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South America Lactic Acid Market is segmented By Source (Natural and Synthetic), By Application (Bakery, Confectionery, Meat, Poultry and Seafood, Dairy Product, Beverage, Fruits and Vegetable, Others), and Geography.
South America Lactic Acid Market is projected to register a CAGR of 7.4%, during the forecast period, 2020 - 2025.
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.
|Meat, Poultry and Seafood|
|Fruits and Vegetable|
|Rest of South America|
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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.
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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.
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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.
1.1 Study Deliverables & Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Source
5.2 By Application
5.2.3 Meat, Poultry and Seafood
5.2.4 Dairy Product
5.2.6 Fruits and Vegetable
5.3 By Geography
5.3.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Corbion NV
6.3.2 Cargill, Incorporated
6.3.3 Cellulac plc
6.3.5 Henan Jindan Lactic Acid Co., Ltd.
6.3.6 Foodchem International Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability